Want More Impressive Results from Your AP Department? Embrace Digital Transformation

 

 

Earlier this week, the entire country was caught up in a spectacle not seen in the contiguous United States in nearly four decades. The moon passed between the earth and sun to create an awe-inspiring natural phenomenon known as a total solar eclipse.

There were festivals, viewing parties and even weddings held to celebrate the rare celestial occurrence. Small towns in the path of totality were flooded by outsiders dying to get the full breathtaking experience of this seemingly once-in-a-lifetime event.

It was hard to ignore. And the end result was inspiring; undeniable.

If only the average accounts payable (AP) department could produce such impressive, indubitable results for all to see and appreciate …

Raising your expectations of AP

Let’s be clear: The results of a solar eclipse and the results of an AP solution aren’t in the same galaxy. The point is, many of today’s AP departments are selling themselves short by not expecting more out of the performance of their vendor invoicing process.

A lot of businesses think having an ERP system in place is enough to create a best-in-class AP operation. However, ERP systems don’t address many of the manual pains that inhibit AP efficiency and effective cash management, including: keying in invoice data into the ERP, tracking down approvers around the office for signatures, manually filing invoices and more. Furthermore, all of these error-prone, non-value added tasks are being performed by well-paid and highly educated AP staff members.

The effects are fairly predictable: The business ends up paying more for less, collaboration between other purchase-to-pay (P2P) processes suffer, staff turnover rates increase, strategic supplier relationships become damaged, and opportunities for new business dry up.

Embracing digital transformation

Sticking to the status quo cannot produce the kind of results today’s businesses need out of their AP department. The c-suite wants to be shown in clear and certain terms how AP is contributing to an improved bottom line — not told.

If you’re looking for a show-me solution to dramatically improve your AP performance, businesses no longer have to settle for a budget-breaking alternative to what they already have in place. This 12-page eBook explores how four different companies embraced digital transformation in their AP department, and highlights the truly amazing results of accounts payable automation.

There’s more …

Want to learn more about the benefits of making a digital transformation in AP? Download the full eBook, 4 Amazing Esker Launches: Accounts Payable Automation Stories with Awe-Inspiring Results to discover how these four companies created new competitive advantages thanks to automated AP invoicing solutions.

Building a Successful Business Case for AP Automation

Accounts payable (AP) and finance managers are aware of the advantages that AP automation has to offer. But it’s never as easy as simply selecting a vendor and implementing a solution. Before an automated AP invoicing project can hit the ground running, one critical hurdle must be cleared — getting buy-in from upper management and other key stakeholders.

The good news is, despite upper management consistently being cited as the biggest obstacle to AP automation, they understand the general benefits. According to survey results compiled by the Institute of Finance & Management (IOFM), the c-suite believes AP would benefit from automation more than any other finance/administrative function.

Check out this SlideShare to learn how to enable AP and finance managers to embrace their responsibility and equip themselves with the knowledge and strategies needed to make AP automation a reality. By better understanding how automated AP invoicing works, AP and finance managers can cite key performance indicators (KPIs) and analytics to more effectively persuade their organization’s top decision makers.

 

1. Finance Executive Survey: Priorities, Challenges, and Technologies for the Year Ahead, 2014. Institute of Finance & Management.

How to Start Building a Successful Customer Experience Program

By the year 2020, customer experience will overtake price and quality as the key brand differentiator. In other words, brands that don’t work on improving their customer experience will be left behind.

Customer experience is more than a trend or buzzword — it will play a pivotal role in the future of marketing and has an insightful ability to predict where a company will be 5-10 years down the line. What should you be doing, if anything to prepare for this change?

First, what is customer experience?

On a basic level, customer experience (CX) refers to how a customer perceives their interactions with your company. How does your customer feel at every touchpoint they have with you, from marketing to sales to support? CX is ultimately defined by the consumer, which means businesses need to actively adapt and set themselves up to exceed expectations.

Should you be investing in this?

Joe Hanousek, Esker’s Customer Experience Manager, believes that every company needs to be tracking their customer touchpoints and working towards continually improving that process. He often says that: “Seventy percent of senior executives in companies believe that CX is important. In my opinion, the other 30 percent shouldn’t be executives.” So much of the B2B focus is on lead generation instead of improving customer experience, although most people are well aware that it is less expensive to keep existing customers than it is to acquire new ones. Companies mistakenly start looking into customer experience as a last resort once they’re suffering, but customer experience is best as a proactive approach, taken when business is growing versus lagging behind. The graph below shows just how valuable an investment in improving customer experience could be.

How do you begin?

If you’re just getting ready to work on improving customer experience, aim for C-level sponsorship. It won’t go very far unless there are people at the top behind it, so do the research you need to convince someone to back you up. Most executives are aware of the importance of CX, but still aren’t taking active steps to improve upon it. If you haven’t already started in a few years, it’ll be too late.

Next, be sure you’re ready to invest a significant amount of time and human resources into building a solid customer experience program. At Esker, the process took a full year to go from conception to having a Customer Experience manager and a team in place. It’s a good idea to have at least one person fully devoted to customer experience and multiple people from different departments committed to being a part of the CX improvement process; otherwise, CX can easily become a task that is swept away on an already busy to-do list. This will also depend on executive buy-in, as far as whether the need to have a customer experience manager or team is understood.

Finally, it is important to communicate the goals of the customer experience program throughout the organizationEveryone should be on board and kept up to date. As Joe puts it: “It’s not C-Level people or managers that make customer experience better — it’s the staff working directly with them.” Educate, train and update all those who interact with customers at any level on what needs to be done to improve those important touchpoints.

The beginning stages of our customer experience journey.

Joe’s biggest recommendation for those starting to work in CX? Change your perspective. “It is not an area for problem customers to go to, but rather a way to prevent customers from ever having the problem in the first place,” he explained. As staff focus on offering solutions to immediate problems, the CX team should be looking into why those problems happened in the first place, and if there is anything that could be done to fix that.

Customer experience goes beyond customer satisfaction or happiness. A successful customer experience program will work to prevent problems before they arise, delighting your clients past the point of mere satisfaction. CX has become more of a trend in the past two years, but it is definitely here to stay for the long haul. If you have any questions about the process we went through to build our customer experience program at Esker, or about customer experience in general, leave a comment below and we will respond to you!

Success! Awe-inspiring Customer Results with Accounts Payable Automation

Are you sitting at your desk thinking of all the ways to improve your business? Ok, maybe you’re not at this exact moment but at some point, we all try to come up with ways to improve our businesses. After all, we want to impress the boss and see organizations succeed! One big step you can take to do so is through Accounts Payable Automation. AP Automation is an essential business process you don’t want to be without, and we have the results to prove it!

What can AP Automation do for you?

Many organizations are trying to improve their KPIs to keep up with best-in-class competitors by using benchmarks to improve supplier and employee satisfaction or track how their day-to-day operations are running. The big question to ask yourself before embarking on a major project is “Are we going to see the results we hope for and expect?” We know how important it is to be able to see how automation can truly affect your business, which is why we compiled four customers who are currently reaping the benefits of AP Automation. What are you waiting for? See the results for yourself and find out just how attainable the goals can be!

AP Automation Customers

If you are:

  • In the process of working on a business case for AP automation
  • Contemplating if automation is the right way to go
  • Wanting to see if the results align with your business goals
  • Interested in seeing what all the hype is about automation and simply what other companies are doing

this piece is for you! You can download your own copy today and see some awe-inspiring results of AP Automation.

Don’t miss this opportunity to see firsthand how impactful automation has been for our customer’s Farmland, Albemarle, San Benedetto and Austin Powder, and how it can do the same for you! Click on the download below to take off on the journey towards an easier and more efficient business process through AP Automation!