5 P2P Trends - Prepare for the RPA Revolution

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Editor Coda
Nov 21, 2017

Sharedserviceslink and Canon recently closed a survey on the key goals and challenges for senior finance and P2P professionals. We will be sharing the details of the survey findings in a webinar on December 13th. Register to be the first to see the slides and all registrants will receive a copy of the slides and data.

Here are 5 key trends you need to be aware of for your P2P strategy for 2018 and beyond

  1. The use of AP and P2P data is expanding.
    When AP and P2P departments are prepared this means they will grow in strategic influence over the coming years. Being prepared means having the right analytical capabilities in place.

  2. Shared services are investing in upskilling their teams.
    Responding to the changing landscape, shared services aren’t growing or downsizing their teams. We found only 14% were looking to change the size of their team significantly. Rather, they are investing in upskilling their current team to be more analytical and to manage advanced technology such as RPA.

  3. Companies are both investing in new tech and making current tech work harder.
    We found the fastest growing P2P technologies include: Analytics, Robotics and Intelligent Data Capture. While about half of our respondents were looking to invest in new technology, nearly all respondents were also looking for ways to make their current investments work better for them.

  4. Companies are preparing for the robotics revolution.
    Robotic Process Automation, or RPA is the fastest growing technology and will likely change the finance shared services landscape. Whether you are implementing or not, companies are preparing by improving the quality of master data, streamlining processes and preparing for low level transactional work to be increasingly taken on by robots

  5. The way to pitch business cases is changing.
    Most survey respondents cite lack of IT, capital or departmental resource as the major challenge to achieving their goals. Despite being able to pitch a business case that saves money, the successful business cases don’t just talk about savings, they “speak the language” of the board and the wider business and make it clear that P2P investments are not just about achieving cost savings, but helping the business remain agile and competitive.

For the data behind these findings, and key insight into how to prepare your shared services for 2018 and beyond, be sure to register for this webinar.

Can’t make it? Register nonetheless and all registrants will receive a copy of the slides.

 

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