Today we discuss where to start when attempting Accounts Payable automation. This is last piece of the Source-to-Pay process. It is often neglected by Procurement departments as it usually falls outside the department’s scope of responsibility. However, including Accounts Payable in your digital transformation is a key to maximizing benefits.
To help me discuss the subject, I am joined by Danny Scharmann, President and CEO of xSuite, an Accounts Payable automation solution provider based in Boston. xSuite has been implementing AP solutions for 25 years and which has 1,200 implementations in 60 countries under their belt, I could think of no better person to discuss this subject with. It definitely also helps that he’s a business-minded technologist and, like me, has an elite sport background which made for some fun exchanges.
During our chat, we covered a variety of topics such as:
- Defining Accounts Payable
- The value drivers of AP processes
- The value of AP automation tools
- How to think about selection and architecture of AP automation tools
- Considerations for implementation of such tools
- And much more
I enjoyed my chat with Danny and know you will learn a lot from it as well. Later in the interview, we often refer to SAP as an example of an ERP but the points are just as valid for any other ERP system.
As always, if you have questions or comments after listening don’t hesitate to reach out via any of the Pure Procurement channels (e.g. LinkedIn)
Show Notes
@5:29 – How Danny defines Accounts Payable
@7:17 – What sub-processes are involved in the Accounts Payable process?
@10:25 – What is the main value Accounts Payable can generate for a company?
@13:52 – The typical pain points in Accounts Payable departments/processes
@19:05 – Can you resolve these pain points without turning to technology (i.e. just with your base ERP system)?
@22:07 – What are the component of an Accounts Payable automation tool suite?
@27:58 – What does the ideal end state look like for an Accounts Payable department?
@34:30 – How do you choose between a Software-as-a-Service (SaaS) solution and a hosted / ERP Add-on solution?
@43:22 – Misconceptions about AP Automation software
@53:04 – The factors to consider when putting together an AP automation project timeline
@58:00 – What sort of costs should companies expect when implementing AP Automation software?
@59:55 – Where should a company start its AP Automation journey?
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What are the biggest pain points in your AP process? Have you had success with AP Automation initiatives? What lessons learned do you have? Let me know in the comments.
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Intro music provided by hooksounds.com.
