During the past 10 years, organizations have adopted accounts payable (AP) automation technologies at an accelerating pace. Document imaging, data capture, and other solutions are radically transforming the way AP departments work with their traditionally most common medium, paper. At the same time, the promise of electronic transactions is quickly becoming more of a reality, with growth year after year in the number of transactions sent and received electronically.
For AP staff and management, a common reaction to all of this automation is fear. Fear of change. Fear that their skills or jobs will no longer be necessary. Fear that their career has hit a dead-end and there will not be a place for AP professionals in this new, highly automated reality.
However, with change comes opportunity. Instead of making AP a smaller and less-vital function, these automation technologies have made AP more important and more strategic to an organization than ever before.