AI is boosting efficiency and making life easier for thousands of AP professionals today. But many of these professionals are undoubtedly wondering if sophisticated software might one day put them out of a job. From Restaurant Technology News Feb 2020
Some of the new duties and responsibilities of the AP clerk have not yet been discovered, while others are already taking shape today. In midsize businesses, the AP department is increasingly playing a much more strategic and central role. That’s because automation lets people graduate from “data entry” with almost no impact to data analysis and collaboration for a much greater impact. Add in machine intelligence, and the AP department becomes part of a broader sourcing strategy.
For instance, imagine managing dozens of restaurant locations. Data analysis helps a company discover trends and discrepancies within its vendor network, but it still takes humans to act on them. Accountants can analyze what they’re paying for specific food items store by store, and they might realize that the same vendor is charging more at some locations or the same product might be supplied by two different vendors. This information gives operators the information needed to start a conversation with suppliers to either consolidate with the cheaper provider or to renegotiate payment terms. That kind of dialogue, coupled with more on-time payments, strengthens those valuable relationships.
Society is only in an early chapter of a much longer story when it comes to automation. Intelligent machines will redefine jobs as they boost productivity, and rather than taking jobs away, partial automation powered by AI might make everyone’s job more enjoyable.
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