Statistics banish the rumors about finance being a male-dominated field with women making up 60 percent of the accounting field. However, less than 20 percent hold the top leadership positions. Discover how accounts payable automation has become a way to improve careers for women in finance and help them move up the ranks to higher-paid job opportunities.
Emerge from the Dark Corners of the Back Office
Accounts payable was once viewed as a back office function. Routine tasks were performed manually, from vendor verification to invoice matching and more. During periods such as year-end audits, the AP department would work long hours to pull crucial data together manually. As a result, there was little or no time left for any other work that would showcase a team member’s financial expertise.
With the adoption of accounts payable automation solutions, the AP team is emerging from the constraints of a back office environment. Savvy AP team members are using this opportunity to become strategic partners with the C-suite by finding money-saving opportunities to help boost the company’s cash flow. Early payment discount and loyalty savings are ways to reduce costs and improve an organization’s financial situation.
Appreciate a Better Quality of Work
Long hours spent matching invoices and chasing after payment approvals can become tedious. This detail-oriented and time-consuming work requires total focus with no opportunity for more thoughtful tasks. By the end of the day, the staff has completed a variety of tasks that could have been performed touchlessly with modern AP automation tools.
And the AP department typically consists of female professionals. With accounts payable automation, the team enjoys a better quality of work. Each team member has an opportunity to focus on strategic work that shows their financial prowess and makes the AP team an integral part of the C-suite’s decision-making process.
Create Remote Work Opportunities
Over the past decade, a rapidly growing number of workers are performing their work remotely. Some work in offices and take projects home to complete. Others are working remotely full-time. Either way, these opportunities give women with children and other responsibilities to continue focusing on their careers, too, rather than taking time out from their careers and struggling to return years later.
AP automation solutions in the cloud make it possible for people to work anytime, anywhere and using any device. Busy women can fit work into their schedules without compromising their personal lives or careers. And remote work opportunities help women continue to help support their families without worrying about the cost of a wardrobe, transportation, and daycare. Remote employees can communicate, conference, and perform any necessary tasks without entering a formal office environment.
Creating Hope for the Future
From CPAs to AP managers, women are slowly forging ahead in the field of finance. Accounts payable automation helps prove the value of integrating cutting-edge technologies. Creating remote work opportunities and encouraging flexibility is assisting international companies to attract the best talent – and keep it.
While struggles such as workplace equality and a lack of female stakeholders in financial industry still exist, slow progress is being made in a better direction. Women who harness the power of education and technology and take advantage of flexible work opportunities are forging the way for more females to land top management positions in the financial field.
Accounts payable automation also improves productivity and accuracy. Companies that have not yet adopted this technology will soon be left behind by the competition. Presenting the facts to the C-suite is another way for female professionals to show their knowledge and skills in industry, and prove they are management material who are ready to emerge from back offices and assume their rightful positions at the helm.