The benefits of adopting secure, cloud-based technology tools are tangible, not only in terms of worker retention and operational efficiency but also in leveraging entirely new markets. With analyst group IDC predicting some $6.8 trillion in digital investments between 2020 and the end of 2023, solutions from Microsoft and its ecosystem of partners are helping to drive worker productivity and collaboration across multiple platforms and locations.
As organisations navigate the choppy waters of economic turbulence, the need for agility and resilience has never been more pronounced. One significant shift is the adoption of secure, cloud-based technology tools, which offer a plethora of tangible benefits, from enhanced worker retention and operational efficiency to market expansion opportunities. So, how exactly does accounts payable (AP) automation fit into this puzzle?
Firstly, millennials are tech-savvy, efficient and impact-driven. But to attract them, organisations need to have the tools in place to retain them long term. By automating tedious processes, departments free up opportunities for millennial workers to do work that is more important and that will have a greater impact on the company as a whole, increasing drive and maintaining employee retention.
The option to work remotely is also essential these days but outdated technology often means that employees need to be in the office, at a desk. AP automation solutions, like MetaViewer, ensure that documents are available anytime, anywhere. This flexibility is exactly what today’s workers want and value in a company, and AP automation allows the option for that flexibility.
Furthermore, survey after survey shows that employees appreciate a sustainable workplace, and AP automation helps businesses to achieve their sustainability goals. From reducing paper usage to increasing energy conservation, AP automation contributes to an organisation’s sustainability goals.
As organisations seek modern operational strategies, AP automation has emerged as a potent ally. Its ability to retain workers, facilitate remote work, bolster an eco-conscious brand, and provide real-time insights makes it an indispensable tool for businesses aiming to be agile, efficient, and resilient in a rapidly evolving economic landscape.
Andy Birkey is marketing communications specialist for Metafile Information Systems.
This article was originally published in the Summer 2023 issue of Technology Record. To get future issues delivered directly to your inbox, sign up for a free subscription.