Stampli Offers CFOs Strategies to Smooth Economic Cycles with Innovative Accounts Payable Practices
MOUNTAIN VIEW, Calif., June 6, 2023 /PRNewswire/ -- In a rapidly evolving economic landscape marked by conflicting indicators from inflation, employment, and growth, CFOs are unclear if they should expect a recession or an expansion. They are seeking strategies to maintain business stability in all economic scenarios.
Traditionally viewed as a necessary but unassuming cog in the company machine, AP has emerged as a potent tool for creating economic resilience.
Stampli, a leader in Accounts Payable (AP) automation software, emphasizes that the AP function, when leveraged innovatively, can create value beyond the finance department to influence business-wide stability.
"Accounts Payable can be more than just an administrative necessity," said Eyal Feldman, CEO and Co-founder of Stampli. "AP's critical role in managing cash flow, maintaining vendor relationships, and regulating workforce needs can have a profound effect on a company's ability to weather economic fluctuations. By automating the AP process, businesses gain a unique opportunity to exercise greater control over these factors and smooth out cyclical pressures."
A Case Study: Avid Acceptance's Approach to AP
Auto financing is an industry that is highly sensitive to macroeconomic conditions. Curtis Ash, Avid Acceptance's CFO, has been instrumental in reimagining the role of AP in the company's business, leveraging AP automation software to control cash flow, maintain clear visibility into vendor performance, and ensure workforce agility. This pioneering approach has equipped Avid Acceptance with a robust toolset to thrive amidst economic uncertainties.
Ash employs a thre-pronged strategy to navigate economic cycles:
This innovative AP strategy has proven to be a driver of resilience and prosperity for Avid Acceptance, demonstrating AP's potential beyond administrative necessity. "Accounting always has to adapt and change, but the changes are not as compounded if you're operating efficiently under all circumstances," Ash said.
Read more about how Avid Acceptance leverages AP automation to smooth out the impact of economic cycles at Stampli.com/Avid.
Stampli is simple for users to learn and even simpler to use, especially with Billy the Bot™ automating capture, coding, routing, fraud detection, and other manual tasks. For even greater efficiency, Stampli's core AP solution is complemented by a suite of integrated products that include Direct Pay, Credit Cards, Advanced Vendor Management, and others.
Stampli supports all native functionality for more than 70 ERPs, including those from Sage, Microsoft, SAP, Oracle, QuickBooks, and 70 others, enabling it to deploy in a matter of days, not months.
For more information, visit www.stampli.com.
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