The Network Effect: How B2B Networks Can Impact Accounts Payable
The average AP operation today faces many of the same challenges that were faced by AP groups a decade ago - the abundance of manual data entry and paper-based processes (e.g., paper invoices and checks, manual data-entry and approvals, etc.) that result in highly inefficient and costly operations. According to Ardent Partners' research, more and more AP groups are turning to B2B networks to help combat their lengthy processing times and high processing costs.
The network effect is a well-known business theory that states that a network grows in value as more users join it. B2B networks have much the same result, particularly when it comes to managing the accounts payable (AP) process. As more suppliers join the network, an AP team can gain more efficiencies by a greater number of trading partners on the network. Suppliers see benefits as well.
Wednesday, February 10th at 12:00 pm MST, join Andrew Bartolini, Chief Research Officer, of Ardent Partners for a complimentary webinar on how B2B networks can have an impact on AP operations.
In this webinar, you'll hear how leading AP teams are using B2B networks to:
- Automate the three major phases of the AP process
- Improve the efficiency and accuracy of the function
- Better manage AP performance
- Enhance the level of visibility throughout the AP process
- Support the efforts to manage and optimize the P2P process
Ask questions, participate in the discussion, and learn more about how other AP teams are gaining greater efficiencies through the network effect.