The report highlights the challenges faced by accounts payable (AP) teams, including invoice exceptions and volume, which create chaos. AP managers have important spend and supplier management duties, such as complying with contract terms, managing regional taxes at a global scale, and ensuring strategic suppliers are paid on time. Despite these challenges, AP transformation is possible and will have predictable and lasting returns. CFOs are recognizing the need to focus on more value-adding activities and implementing smarter systems to drive more efficiencies. A Hackett Group study and a separate study from Ardent Partners both support the need for AP transformation.
