People will do more human work,
including exception-based and insight driven activities—work that is investigative in nature—as organizations realize the potential of automation and blockchain. Gone are the days of copying and pasting special values from a contract, invoice, or other document into an ERP system. Leading finance organizations are designing automation tools to do this work.
Up to now, the manual nature of AP processing meant adding staff as the business grew. Not so with AP automation solutions. As the business grows, simply add more servers to keep up with the increasing number of invoices. More likely than not, the underlying OCR software will become smarter and the servers will become even more efficient, outstripping the growth of your business. In fact, if you’re running in a tier 1 cloud environment, you’ll probably find your cost per invoice falling, not rising, over time. That’s one of the hidden benefits of digital transformation: You inherit the collective gains of every other transformation initiative.
OCR engines have become increasingly more powerful over the past decade. Better algorithms, more processing power and advanced machine learning methods have all contributed to the improvements, eliminating most scanning errors and freeing up staff to focus on more problematic invoices and higher value business issues.
Outside of work, employees are exposed to digital transformation initiatives every day, especially when shopping online. They know what is possible…and they expect their company to embrace solutions that will make their jobs more rewarding. Jobs with a high number of repetitive tasks give rise to boredom, poor on-the-job performance, and eventually turnover. AP automation allows employees to focus their efforts on problem solving and more challenging assignments, not rote data entry.