Reimagining Procure-to-Pay With AI
Analyst Perspective
Digitally transforming finance operations has been a priority since 2020. Especially with the application of artificial intelligence in all its forms, software can streamline purchasing and the procure-to-pay (P2P) cycle, shorten process times, reduce unnecessary costs, provide greater visibility into cash flows, increase control and improve results. The application of AI will increasingly improve the productivity of the department, because professionals spend less time on mechanical, repetitive tasks. For all these reasons, ISG Research asserts that by 2028, only one-fourth of larger organizations will consistently manage procure-to-pay end-to-end, but those that do will outperform competitors.