CFOs are charged with finding ways to increase financial growth. We’re committed to helping them succeed.
The role of the CFO has been going through a major transformation over the last decade, morphing into one that touches virtually every function in the company, from treasury to AP to IT to procurement to R&D and more. The role has gone from overseer to strategic decision maker.
Next week, CFOs and finance professionals from around the globe will attend the CFO Rising East Summit in Boston, MA, March 22/23 and Corcentric will be there as both a sponsor and presenter. The Summit will explore the changing CFO role and responsibilities and focus on a wide range of issues, including changes and advancements in finance technology and innovation.
Jim Wright, Corcentric’s VP of Sales will present “The Power of Payments and Accounts Payable Integration” highlighting the importance of automating each step in the P2P process; not just the invoice receipt, approval, and processing, but the full procurement workflow, including electronic payments.
Although an increasing number of companies are automating various processes, far too many are still depending on paper and manual procedures when it comes to their payments. Eliminating paper has become a major focus of a majority of enterprises, so why has this last step in the process been left out? Leaving electronic payables (e-payables) out of the equation will limit the benefits that automation throughout the rest of the P2P cycle brings. A lack of an e-payables platform means AP is left with:
- High costs to write and mail paper checks
- Lost time in processing and mailing checks which can lead to lost early discounts
- A lack of visibility into spend
However, integrating e-payables with an accounts payable automation solution will lead to a number of benefits, including:
- Lower payment costs and greater discount capture
- 24/7 visibility into cash position and payment status
- Security and compliance across payment methods
If you’re attending the CFO Rising East Summit, we invite you to visit us at Booth #4 to see how Corcentric can contribute to the growth of your business.
Not attending? Learn more about streamlining the last step in your P2P process.