5 Ways Poor Visibility Undermines Financial Shared Services Initiatives
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More organisations are operating their accounts payable and accounts receivable functions as part of a regional or global shared services environment. These organisations are drawn by the promise of lower costs, better process efficiency, and improved service to stakeholders. But organisations will never achieve the full benefits of a shared services environment if they still rely on manual and paper-based accounts payable and accounts receivable processes.
Paper-driven processes create significant information gaps that negatively impact cycle times, cash management, the delivery of information to downstream systems, compliance and control, and the financial close process.
This paper explains the benefits of operating accounts payable and accounts receivable as part of a global or regional shared services environment, details the five ways paper-based processes undermine these benefits, and shows how enterprise information platforms close information gaps and enhance visibility in a shared services environment.
By downloading this paper, you will learn how to:
- Dramatically shorten cycle times and improve accuracy using automated processes
- Crush information silos and improve visibility for all staff
- Connect all accounting systems to improve cash management and reporting.
