As organizations continue to focus on keeping their employees safe and their businesses running, there are still invoices to process, bills to pay, supplier inquiries to respond to and expenses to reimburse.
Businesses are reprioritizing their strategic objectives and adjusting annual plans to ensure that the most critical functions (such as accounts payable) carry on as usual, and that there's room to grow when recovery begins. We believe that AP teams play a critical role and should focus on three stages – agility, cost to serve, and resilience.
With a streamlined P2P function, organizations can improve cash flow, achieve greater transparency and control, boost compliance with more consistent data, and deliver payment strategies that support both their businesses and the ecosystems of suppliers.
Learn more about how Genpact can help accounts payable.
This point of view is authored by Zaheer Abbas, AP Service Line Leader; Srinath Vijayan, AVP, AP Service Line; and Sneha Misra, AVP, AP Service Line at Genpact.