I N F O G R A P H I C
I N F O G R A P H I C
Indeed, automation ranked highest when respondents were asked what best described the top priorities for the AP function in 2025, with 46 % stating their priority was to fully automate their invoice receipting process, requiring little or no manual intervention. This concurs with the finding that one third say their AP processes are around 41 – 60 % automated, meaning the other half must be manual.
Interestingly, the survey also highlighted a lack of budget was the number one barrier that could stop or limit success in achieving their priorities, with 59 % identifying this as their main obstacle. Budget also governed the next barriers identified by respondents, with technology( 48 %), time( 48 %) and skills( 43 %) all dependent on sufficient budgets.
Ollier concluded:“ While budget constraints are likely to determine the level of investment in automation, as we head into 2025, businesses can ill afford to ignore the potential risks associated with legacy technologies. Even where some processes are partially automated, this is still likely to result in a lot of time being wasted on manual processes, keeping teams from higher-value tasks that could be driving more productivity and profit.
“ Finance and AP teams want technologies that can automate supplier invoice processing, that can quickly and accurately reconcile statements and that can empower them to focus on the areas of the job that delivers real and tangible value. Yes, this is an investment, but one that will drive long-term, positive change. Put simply, can businesses afford not to update their technologies and systems?” � www. intelligentfin. tech
21