As organizations scale, leaving the small business market for the mid-market, they encounter many challenges. While industry and market play a large role in dictating an organization’s specific pain points, the foundational tactical issues, particularly in the back office, are similar for many organizations.
Businesses often focus on the strategic issues of growth, such as customer base retention and expansion, product delivery, and brand management, while giving less attention to back-office departments such as Accounts Payable and Accounts Receivable. In doing so, organizations do not take into account the strains that growth puts on back-office processes, and also overlook the long-term detrimental impact back-office inefficiency has on the success of the front office, including from high costs, weakened supplier relationships, and poor cash management.
There is a solution to these challenges: Small organizations can leverage technology to not only automate and optimize their accounting processes, but also to enable a much smoother transition into the mid-market. This whitepaper explores the value and enablement that AP and AR automation can bring to growing organizations, strategies for properly leveraging that technology, and change management best practices for its adoption.
Research Senior Manager
Research Content Specialist
Major Bottoms Jr.
Senior Research Consultant
Offering unbiased, industry-leading, educational content.