The Human Touch in an Automated World: Balancing People and Technology in Accounts Payable Automation

In a technological era of automated wonders, the finance sector has undergone a considerable transformation over recent years. The capability of automation has undoubtedly revolutionised traditional processes. One of the leading financial processes that have seen a severe change from automation has been accounts payable (AP). As we progress towards an unforeseen future of algorithms and artificial intelligence, it begs whether the human touch will remain a crucial element of the accounts payable process.  

Finding an equilibrium between the two can be difficult when innovation meets legacy processes. With businesses embracing automation to streamline their AP operations, enhance efficiency and cut costs, they see benefits that could not have been achieved before. Although automation is an essential and powerful resource to consider as a business in today's age, we must also consider the value of the human touch. 

The advantages of AP automation are essential to success. With algorithms that can handle routine tasks, invoices can be processed quickly and without error. With reduced manual errors, the risk of overlooking crucial details is no more. Automation not only saves time but also allows finance staff to focus on their roles more strategically and creatively. 

However, businesses cannot solely rely on automation tech. This is because AP is not only about efficiency and processing. It also involves building and maintaining vendor and stakeholder relationships, understanding the ins and outs of business and analysing data to form a strategy. The value of the human touch is the intuition and adaptability that can be used when interacting with vendors or effectively resolving payment disputes. While automated systems are imperative to tasks like data processing, they may not be able to perform the task of human interaction.  

Maintaining a human aspect in the workplace ensures inclusivity and accessibility to all in finance. Not all vendors and stakeholders have the capabilities to integrate with automated systems. This can be resolved by adopting a hybrid approach that incorporates both human interaction and automation to cater to the diverse needs of various company stakeholders. 

But human intervention is not only useful in interactions. It is also crucial in tackling outward situations that occur outside automated systems. These things include market shifts, industry changes or world events that can significantly and negatively impact a business's financial operations. Therefore, it is imperative to have a human touch in navigating the ever-changing world of finance in business.  

By recognising human involvement alongside automation, businesses can uphold their commitment to social responsibility and ethical practices. To achieve a balance of technology and people in AP automation, we recommend companies consider the following steps: 

• Empower employees: By empowering employees with training to work alongside automated systems and upskilling, employees are more inclined and prepared to adapt to automated AP systems. 
• Prioritise vendor relationships: Invest in the upkeep of vendor relationships through personal interactions and attentive support to build long-term relationships with suppliers.  
• Refine processes: Regularly assess the efficiency being performed by automated systems and seek feedback from employees and vendors to identify areas that could benefit from further human involvement.  
• Aim for balance: Finding the happy medium between automation and human intervention for your business is the key to successful implementation. 

Accounts payable automation offers undeniable advantages, and the human element provides an important aspect of overall financial processes by preserving a human element and creating coexistence with automation platforms. As businesses continue to march into a future of technology, we must remember to maintain a balance between people and technology in this automated world.