As an AP leader overseeing and guiding your department through their day-to-day functions, most likely you’ve been thinking about how automated processes can be beneficial to your employees. What does this new, modernized workplace entail? What are the specifics of how automation within AP departments will change the way things operate, moreover within your company? For many higher-ups, personnel is their top priority; if you can keep your workers happy, your business will reach maximum productivity. As a result, concerns about layoffs, how employees may have to transition to other roles, and changes regarding teams are all crowding the minds of finance professionals. In this blog, we will cover what changes you may see resulting from automation, as well as answer many of the specific questions that will cover the transitions your company may face.
Automation’s Background
Many finance professionals have already looked into the role of automation within AP departments and deemed it worthy and necessary for their own workplace – but for those of you who are still only beginning to comprehend how the changes may assist you and your employees, let’s start by breaking down how automation can improve office morale. It’s no secret that executives within companies are always seeking ways to keep their employees content with realistic ideas. One of the main ways that automated processes can improve the workload of AP employees is saving time. Since automation eliminates manual invoice processing, invoices are completed much quicker and are extremely time-conscious; instead of taking over a week to process, invoices are processed within a mere matter of days. When more time is available to your employees, you can present multiple opportunities for bigger projects, and possibilities are endless. In a leader position within AP, you may find yourself assigning more tasks that are a part of the bigger picture and more fulfilling for your employees, but nothing mundane or time-consuming that will hold them back any longer. As real-time, accurate invoice capture and coding becomes available, your company will be up to speed with current practices, and the moods of finance workers will be boosted.
Keeping Employees, Yet Eliminating The Need for Unnecessary Hires
A large burden hindering accounts payable departments is the need to constantly be hiring more staff to take on more data input and more invoice overseeing; overall, having to match the number of employees with the number of tasks. New hires can often bring unnecessary stress by burdening teams with having to bring each worker up to speed on every process within their organizations. Existing employees also may feel threatened or intimidated by another individual potentially taking their job, or clashing with their preferred approaches. With automated processes, this specific issue also will be eradicated and change functions within your company, as lower costs plus quicker processing equals even more advantages for your current staff. Most likely you will notice an improvement in the overall success of your employee’s average workday, since their jobs will become so much more than tedious, time-consuming tasks, and there will no longer be a need to excessively seek out new personnel. Automation will present more opportunities to employees within AP for important projects within their departments that have not been completed in the past, or have fallen by the wayside due to time constraints.
Office Morale and Culture Improved
As automation supplies us with an upgraded budget, more time for smarter work, and more success and accuracy within accounts payable, consider how significantly the morale of your staff will improve. Stress from our jobs can very easily bleed into our personal lives and affect both our mental and physical health, so when it can be lessened in any way, employees will thrive at home and at work. It’s no lie that essentially no employee enjoys performing monotonous, manual data input or any other tasks that make their energy feel misspent. Employees using automation will be able to utilize all of the skills that they are proud to demonstrate in the workplace, including creativity, intuitive problem-solving, and strategizing how to improve their company – skills they most likely have put on their resumes and need experience honing. Not only are you making a smart decision for your company, but for your employees, whose best interest should always be taken into account. Automation can also be used as a strategic device towards competitors; with regular tasks automated, success is practically guaranteed from your AP department. Since faster invoice processing, higher accuracy, and an overall higher performance level will help your individual department thrive, your AP department will soar above the rest regarding efficiency and customer service. In addition, automation may even provide you the option of finding additional payment discounts from your suppliers.
In Conclusion, What Will AP Departments Look Like After Automation?
Putting all of the previous information covered into basic terms, here are some things you can expect to see within your department after changes from automation take place:
Teams will be able to expand their daily duties and branch out as they are given more time devoted to better opportunities instead of simple data capture.
AP departments will begin to work and flow better with other departments, as their own individual success will provide them with more chances to integrate and face-to-face with other department heads.
Current employees will no longer feel disposable or threatened by new hires, but instead more valued as their positions will be kept due to the company’s new ability to scale better through automation. Morale will also be boosted as they are given the chances to truly utilize skills they originally applied for their positions for.
As your company continues to progress alongside modern technology, understand that comprehending the positive aspects of automation is necessary to move your accounts payable departments forward. The specifics of what will change regarding our average workdays shouldn’t be feared, but celebrated, as the health and happiness of employees should always be prioritized. Feel free to reach out to an oAppsNET Partners consultant for all of your questions and concerns – we look forward to the future, and to the success of all companies utilizing automation to improve the worklife of their finance professionals.
We’ve examined the many ways that accounts payable departments are evolving in the modern technological workplace. Throughout all of the changes that are shaping our companies, finance professionals are still adamant and resistant to some of these new approaches. While we previously covered the many positive effects of automation, this time we will analyze what specifically may make financial professionals hesitant to move forward, as well as how to take steps towards overcoming these worries and reassuring AP employees everywhere.
Recognizing Change is Required in the Workplace
First and foremost, it is important to recognize that changes in the workplace – especially ones that pertain to your personal position and your typical nine to five – can obviously be alarming at first. While there is no immediate or actual cause for concern, when faced with uncertainty it is only common to experience anxiety still hoping that our work and our jobs are deemed valuable and necessary, no matter what tasks we are performing. Beginning with those tasks, a large concern from apprehensive AP and finance employees alike is that if things are functioning well the way they’ve always been operated, then why change? While rejecting the concept of deviating from old habits can be an understandable excuse, we must recognize that change is inevitable – especially within the workplace and finance departments – so this question is a bit senseless. Information is always going to be delivered and processed using different and alternating methods, so while some employees are taking the financial aspect of automation well, an effort to accept all of the other areas of automation must also be made. It is also important to question that while day-to-day functions may be successful in the office, are workers still as successful operating from home? Automation can alleviate much of the stress finance employees may have while being forced into this new remote reality, and as functions continue to progress and evolve.
Frequent Oppositions Finance Workers Make Towards Automation
Let’s break down two more main aspects of automation that cause apprehension from staff. A common concern with many seasoned employees in varying different positions is that many wonder if we can truly trust the technology. It can feel very secure manually putting in data yourself, and some feel that they can only trust what they can control with their own two hands; yet when considering this more in-depth, nothing about that seems more trustworthy than flawless technology. There is a hint of truth in saying that software can sometimes still contain errors, but those errors are so much rarer than the amount made daily by staff manually handling a massive amount of data; a simple slip of the hand or the eye could lead to a critical mistake. Simply put, it is easier to understand and accept the very scarce mistakes made by automation than the much larger amount made by manual processes. Computers and software are made to handle data and information so much better than we are, so while we continue to do our jobs, we should let them do theirs as well.
Another concern is one we covered previously regarding the false notion that automation will cut jobs within AP. During the COVID-19 crisis, there are many employees fumbling to keep their jobs in any way they can, even if that means fighting off helpful, new approaches. Though once again, automation does not get rid of accounts payable positions, but rather helps current workers increase their productivity immensely and focus more on internal projects that can propel their companies forward. Still, it is important to recognize this fear and be able to address it knowledgeably if you discover workers within your department experiencing uneasiness and unrest over this inaccurate statement. While we may have access to the information ourselves, it is important to share with others that their jobs are safe and can truly be altered for the better once they accept the changes that are imminent. Automation was never introduced to eliminate jobs, but to improve them for years to come.
Benefits From Automation are What Financial Professionals Should be Focusing On
Most likely, when it comes to automation, reiterating how the pros vastly outweigh the cons could be all that finance professionals need to understand that their fears are not backed up by facts or evidence. Automation opens mailed invoices, conducts detailed searches for matching receipts, routinely locates the correct coding for said invoices, and has been proven to minimize common errors such as fraudulent payments, misplaced or duplicated invoices, and incorrect data entry. Your information is stored safely in a cloud-based system and is done so quickly, correctly, and efficiently – taking the time to consider how much you can achieve without having to perform these repetitive tasks will eradicate any worries about change. Once again, anxious thoughts surrounding uncertainty are completely understandable. Yet changes do not mean that your job is about to be completely taken over by a computer; automation simply will provide you with a streamlined invoice process, new financial opportunities, and greatly reduce compliance risks for your company. As finance workers, your biggest concern should be the success of your company, as well as your department, and being resistant to new opportunities is extremely counterproductive. It is vital to remain open-minded when taking into account the best interest for your company.
Moving Forward Alongside Automation by Encouraging Employees
Overall, reassuring your staff that automation is an ally and a tool that will propel their careers forward – not something to resist – is the main component to overcoming reluctance aimed at technological advancements. Giving AP and finance workers the general picture of how things will change for them, as well as laying out the specifics regarding budget, invoice processes, and daily tasks is of the utmost importance. Communication between higher-ups and their staff is essential when running any business, but even more so when progress and high-tech development is swiftly on the way. Hopefully this blog has been informative, and either way, do not hesitate to reach out to an oAppsNET Partners consultant for all of your questions and concerns regarding automation and the future of accounts payable.
The modern workday is changing and evolving as we know it. Within this new remote reality resulting from the COVID-19 pandemic, there are heavy concerns swarming the workplace about the security of jobs and how exactly positions may be altered. Technological advancements combined with the opportunity of working from home have simplified work methods, though simultaneously proven some jobs to be obsolete. However, amping up productivity in the workplace can be done by physical workers along with new approaches – automation within accounts payable being the future.
The positive side of this new reality we have entered is that while being strictly forced into operating remotely, we can now discover highly enhanced levels of productivity within multiple areas. Current technology has become further integrated into our lives, and newer developments are being made daily – developments that aid company’s ongoing searches to improve and modernize our work lives, save money where possible, and overall enhance the efficiency of our systems. In this blog, we’ll explore all aspects regarding the future of AP departments everywhere, and put questions and concerns to rest.
Automation’s Influence: Granting Freedom From Expendable Tasks
With the worrisome belief that automated processes will put workers out of their jobs, rest assured that this is only a misconception, as automation does not necessarily equal layoffs. In reality, automation can enhance the work life of current positions that are held and open up even more opportunities for future hires. Essentially, automation’s job is to take tasks within accounts payable that are time-consuming and monotonous – such as opening up mailed invoices, looking for matching receipts and routinely looking up the correct coding for said invoices – and automates the process of invoice data capture, three-way matching, and general ledger coding flawlessly in order to maximize the time employees spend. In every work department, there are individuals who wish they didn’t have to complete repetitive tasks that seem of little importance when considering the grand scheme of things. AP workers will find more freedom and become capable of much more as their concentration can shift towards bigger fish that need frying. No more running back and forth between offices, or sending out multiple instant messages throughout the day clarifying an answer to a problem that automation will solve for you in an instant.
Information Stored Safely and Efficiently
All invoicing data becomes stored in a cloud-based system for more efficient containment of important information, so losing necessary data is no longer a difficulty. Easily avoidable mistakes such as duplicated invoices and fraudulent payments will significantly decline. Automation opens up the option for paperless invoicing processes, reducing overall costs for your company and moving towards a more digitally enhanced world. When there is a system set in place to process functions twice as quickly as before, the workflow within AP is truly transformed – accuracy is key. All of these combined advantages simplify invoice processing as we know it, and this is only the start; endless possibilities are still being discovered and developed.
Saving on Costs in Multiple Areas with Automation
Companies that utilize automated processes will observe costs decreasing not only regarding paperless options, but personnel. No longer do the amount of workers need to meet the amount of invoices; automation balances the workflow, allowing current employees to handle a large amount of invoices and requests without needing to hire dozens more staff members in order to keep up. What companies can put their funds toward is hiring staff to take on new projects and positions within the company that stimulate overall growth – not just specifically within accounts payable, but with a focus on all departments.
Why Employees are Still Absolutely Prioritized
Regarding all of the strengths of automation within accounts payable, it is wise to be aware of the changes, yet still recognize what makes physical employees extremely valuable and essential: interpersonal skills, devising strategies and problem-solving. Everything automation can accomplish, workers can also accomplish, but fortunately not vice versa. We cannot yet automate processes for critical thinking, decision making, or using one’s judgement to make serious decisions based on a company or department’s best interest. Employees themselves add variety and have the ability to negotiate, put matters into a business perspective and provide their own unique perspective and opinion where it is needed professionally.
The Chance to Thrive With New Methods and Combined Skills
Employees in AP departments will not only thrive in this modern workplace, but there is a growing demand for tech-savvy workers accustomed to automation to fill roles in big corporations moving forward with streamlined, cost-efficient methods. As accuracy within accounts payable is increasingly prioritized, there is a need for creative minds that are open to operating in the growing technological world. Automated processes combined with the natural skills accounts payable workers bring to the table will revolutionize the way work is completed within companies.
Moving forward alongside automated processes will make AP workers more valuable, up-to-date, and in sync with modern workplaces. While companies and executives may be resistant to change or unnerved about new methods regarding day-to-day functions, examining all of the advantages and realizing how this idealistic version of a streamlined department could become a reality very simply is all that needs to be brought to their attention. Automation is just a few simple steps that can take accounts payable in an entirely new direction, and one that will improve every worker’s life drastically, no matter what position.
Will Automation Be Your Company’s Future?
If you feel that automation could exceedingly improve the work life within your company, consider researching some success stories from companies that have utilized automated processes within their accounts payable departments and how it has made advancements regarding their budget, morale of their staff, accuracy of information, and more. There are many specific problems automation can individually solve, and truly looking towards the future is understanding what your department may look like when given technological advancements. We’re currently entering a new reality; it’s time to take charge and seize the opportunities we’re given. Find out how your company can get started with automation, and consider reaching out to an oAppsNET Partners consultant to learn more today.
