Autonomous AP
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Financial Services
Financial Services organizations are under more pressure than ever before. The industry is facing massive transformation, the adoption of new, technology-enabled business models, and more regulation than ever before – seemingly all at once. Financial Services is incredibly dynamic and lucrative, but your company faces a lot of change, and a lot of risk. As a finance leader in a Financial Services organization, the onus is on you to make your firm as efficient and profitable as possible, mitigate as much risk as you can, and protect the firm’s reputation. No pressure!
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Life Sciences
Doing business in Life Sciences is no easy feat. The industry is dynamic and fast-paced, with accelerating innovations in gene therapies, tons of acquisitions and joint ventures, increasingly outsourced and crowd-sourced R&D, and a rich and well-funded start-up landscape. It’s a great time to be in Life Sciences, but your company faces a lot of challenges, too: longer-lasting clinical development, a greater chance of drug or device failure, and more pressure to create that blockbuster product. You’re also up against a tangle of worldwide regulations, especially around spend transparency.
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High Technology
It’s a great time to be in High Technology. Powered by enterprises’ digital transformation initiatives and the rapid pace of innovations like cloud and AI, companies in High Technology must move quickly to take advantage of the opportunity in front of them. And because of that, finance teams need to be vigilant. Massive growth can sometimes lessen an organization’s spend discipline as business leaders and salespeople trade off being frugal for the real prize – top-line expansion. This can breed a wasteful or even profligate spend culture and can let those responsible for reviewing expenditures off the hook from doing proper diligence before reimbursing employees or approving invoices.
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Manufacturing
Manufacturing companies are under more financial pressure than ever before. With global competition, shrinking margins, uncertain supply chains, and regulatory compliance to contend with, finance teams have their work cut out for them. They need to keep business spending at bay, including employee expenses and direct and indirect invoice-based spend. They need to mitigate risk across all aspects of the business, from sourcing raw materials to maintaining strong labor relations to detecting accounting fraud to keeping the company out of legal hot water. That’s a tall order!
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Professional Services
Professional Services firms have a unique challenge: They are all about people. Bringing in the right people. Making them productive. Focusing their attention on the right things. Keeping them happy. And getting the most out of them. Finance leaders in Professional Services have to strike a balance between keeping knowledge workers focused on the business at hand and instituting enough process to control spend and reduce risk. Talented employees such as lawyers, consultants, investment bankers, and agency directors may not have your expense policy or spend management process in the front of their minds on a day-to-day basis. Instead, they’re focused on winning business, serving clients’ needs, and getting work done as efficiently as possible.
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ROI calculator for AI spend auditing
Calculate your ROI on auditing 100 percent of expenses and invoices, prior to payment, with artificial intelligence.
Expense Audit Autonomous AP