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Cutting Through The Hype: How Artificial Intelligence Will Transform Procure-to-Pay from IOFM

Eliminate friction from your procure-to-pay lifecycle and start making better, faster business decisions.

According to industry surveys, 83% of business leaders believe that AI and other digital technologies provide an opportunity to reposition their overall business strategies. And nowhere is this more applicable than procure-to-pay, with its seemingly endless cycle of manual and semi-automated processes that are constricting business goals, savings and efficiency.

Cutting Through The Hype: How Artificial Intelligence Will Transform Procure-to-Pay, a white paper from the Institute of Finance & Management (IOFM), provide concrete examples and practices that can directly and positively impact the entire purchasing process, from buying to invoicing, payments and finance. In the report you’ll learn how AI transforms the procurement function by replacing menial, time-consuming tasks by analyzing data sets and patterns to streamline processes through automation. Topics include:

  • Applying AI to specific operational tasks enables businesses to remove friction and reduce operational costs, enhance the customer experience and inform strategic decision-making.
  • How AI empowers organizations to intelligently leverage data from millions of transactions stored in repositories for spend management or cash flow analysis and liquidity management, or to identify preferred suppliers.
  • Staying ahead of fraudsters and risk management with AI by leveraging the technology to assign risk profiles based on transactions and activity, enabling teams to prioritize and focus review efforts.

Download the white paper to cut through all the hype and learn what Artificial Intelligence can really do to accelerate and transform your entire procurement function and drive business goals.