As businesses continue to come under pressure to improve financial efficiency, automation is an important lever in streamlining processes and increasing productivity. Various forms of finance automation have been around for quite some time, yet the rates of adoption still lag. According to CPA Advisor, for example, 47% of companies still haven't automated any portion of their AP processes.
The question for finance teams today is how to assess progress with finance automation and what areas to prioritize next. Our list of financial processes to automate covers common areas to start with. One of the areas with the highest return on time spent is invoice processing automation. Manual processes for paying invoices are error prone, time consuming, and painful for AP teams to follow. With plenty of automation solutions available, this is an easy area to prioritize. Read our full guide to invoice processing automation to learn more.