8 Lessons for Accounts Payable from the Manufacturing Shop Floor

Your ability to compete in the manufacturing industry is closely tied to the effectiveness of your digital transformation efforts. Your shop floor has probably seen the most extensive changes as a result of your business’s drive to:

• Reduce costs
• Improve cash flow
• Increase efficiency and productivity
• Gain end-to-end visibility
• Achieve greater operational control
• Improve decision-making capabilities
• Reduce unnecessary risks
• Strengthen supplier relations

But aren’t those the same goals you have for your Accounts Payable (AP) operations across the entire invoice-to-pay process?

60% of finance leaders say Accounts Payable is the #1 most inefficient component of their manufacturing company's operations.

73% of manufacturing CFOs report that optimizing AP processes is their top focus for digitization efforts

To create business value from your invoice-to-pay process that will help you achieve your strategic goals, consider these eight lessons for AP from the manufacturing shop floor:

Lesson 1: Take a holistic approach to optimization

Lesson 2: Implement end-to-end automation

Lesson 3: Pursue cost savings at every point

Lesson 4: Drive revenue generation

Download the ebook to discover the other four lessons.