More organizations are operating their accounts payable and accounts receivable functions as part of a regional or global shared services environment. These organizations are drawn by the promise of lower costs, better process efficiency, and improved service to stakeholders.
But organizations will never achieve the full benefits of a shared services environment if they still rely on manual and paper-based finance and accounting 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 white paper from the Accounts Payable and Procure-to-Pay Network discusses how financial shared services organizations can overcome information gaps, improve visibility and create new efficiencies across the procure-to-pay and order-to-cash cycles. Download it now to learn:
- Trends in financial shared services operations and organization
- How paper-driven processes undermine the benefits of shared services models
- What technology platforms can increase visibility and efficiency across P2P and O2C