Thursday 17th June, 2021
Purchase to Pay Network (PPN) conducted a survey, alongside partners, ITESOFT among financial decision-makers to understand their challenges and vision on digitalisation to get through the crisis. From February until April, a large sample of companies from the banking, construction, logistics, government, and health sectors provided answers on the prospects for digitalisation in a changing world.
Digitalisation has become unavoidable, but there are still many opportunities to be seized. Also, there is a real room for improvement since companies have not yet fully automated their processes end-to-end. The digitalisation of Procure-to-Pay is certainly the most effective response to the challenge of profitability and performance in a context of recovery from the Covid-19 pandemic.
"The study shows that the digitalisation initiatives from finance departments are increasing. It is a positive vector of transformation for companies and a resilience factor in the face of the crisis. This digitalisation highlights the agile search of decision-makers in financial management and the importance of having quality data to anticipate and better control risks and costs", emphasizes Emmanuel Rilhac, ITESOFT's Chief Operating Officer.
"The Covid-19 crisis has had a critical impact on the business of companies and organisations. It has brought the challenge to better manage unpredictability and risk control to the forefront. Over 25% of CFOs have accelerated their automation initiatives due to the covid-19 pandemic. There is a real drive among finance departments to automate as much of their business processes as possible to better manage the unpredictable and stay competitive." says Ellen Leith, Managing Editor at PPN.
Find all the results of the study: AP Post-Covid: What to expect in 2021 and beyond.