Current vendor management and accounts payable processes are manual and paper-heavy, leading to challenges in payment processing. Organizations are seeking automation to capture mismatches and inconsistencies during transaction execution, enabling seamless payment processing.
Some of the key challenges in the accounts payable process that can be addressed using emerging technologies like blockchain, AI, and machine learning include:
The business need is to reinvent the accounts payable process in connected supply chain procurement involving multiple suppliers using blockchain technology.
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