We are in the midst of an economic environment the likes of which we have not seen for decades. UK government treasury statements and rapidly changing global trade tariffs can and, in some cases, are reshaping financial forecasts overnight. The business impact of this volatility means that finance leaders need more insight into their financial data than ever. In addition, they cannot afford any inefficiencies.
Amidst the growing buzz around the use of AI, there is, in fact, a real opportunity to use it to strengthen traceability, security and operational foresight. Doing so will ensure that your finance team stays resilient and has the strategic insight to plan.
John Gronen, Chief Financial Officer at cloud-based e-invoicing and P2P automation solution provider Yooz, explains how finance leaders can move beyond AI buzzwords. He identifies how to truly harness AI tools to reduce risk, streamline operations, and elevate their strategic influence within the business.
Break free from manual process bottlenecks
Invoice bottlenecks, outdated processes and rising pressure to do more with less remain constant challenges for many finance teams. But in 2025, these types of inefficiencies are quite simply unaffordable, especially when considering recent UK government treasury statements and rising trade tariffs.
Recent figures from Equals Money reveal UK employees spend an average of 65 minutes per day, a staggering 38 days per year on manual, administrative tasks. In addition to wasting precious time that could be spent on more strategic activities, an over-reliance on manual processes limits the ability of a business to scale. Essentially, this will prevent it from reaching its full potential. As regulations evolve and with the recent economic storm showing no immediate sign of passing any time soon, a business that has long processing times can suffer from late payment penalty fees and strained supplier relationships.
However, all hope is not lost. With the help of an automated, AI-powered Purchase-to-Pay (P2P) solution, a great deal of strain can be taken off the shoulders of finance staff. It can reduce the administrative and security-related duties they would otherwise need to take care of when it comes to Accounts Payable.
Automating invoice management
The benefits of using AI to improve operational processes are proven. As recently as October 2024, Accenture research found that the number of businesses with AI-led processes nearly doubled from 9% in 2023 to 16% in 2024. What’s more, when these businesses were compared to their peers, they had achieved 2.5x higher revenue growth and 2.4x greater productivity.
Consider how AI could extend the benefits of a P2P solution even further:
- Streamlining existing processes
- Aid a transition away from paper-based accounting
- Reduce cash flow bottlenecks and error-prone manual data entry
- Underpin the digitalisation of Accounts Payable (AP)
The value becomes clear. Teams gain more capacity to focus on purposeful endeavours that add tangible value to the firm.
Organisations can utilise AI-powered invoice capture and processing workflows. By adding smart Data Extraction alongside fraud detection capabilities in the background, you can cut time spent managing invoices and payments by as much as 80%. These improvements not only drive day-to-day efficiencies but also deliver other benefits. These include a reduction in days payable outstanding, enhanced liquidity management, and stronger supplier relationships—all critical aspects for business resilience.
But that’s not all. Another crucial advantage of AI-powered automated P2P systems is the ability to have full visibility over invoice statuses and schedules. This insight quickly becomes foresight, which is imperative for an organisation that aims for future growth in 2025 and beyond.
Augmenting, not replacing
There is a common misconception that AI tools will eventually replace jobs. But this isn’t the case. When an AI-based P2P solution is implemented thoughtfully and carefully, it can empower staff to achieve more in less time, all in one secure location.
Going forward, AI can be used to increase the knowledge and skillset of employees, thanks to access to real-time data, allowing them to make more informed decisions. This elevates finance leaders from transactional executors to strategic enablers. It positions them to help steer the business towards growth and operational excellence.
The value of AI in finance, and more particularly Accounts Payable, isn’t just using it as a tool for admin tasks; it should be considered a cornerstone for sparking innovation and improving performance.
Signs of a strong solution
Finance leaders across the UK and Europe are overcoming initial complexity and job security concerns surrounding the use of AI by trusting in an intuitive P2P solution that is customisable to their business’s specific needs and goals. The most advanced solutions can adapt to your current processes and integrate into your existing technology stack without disruption.
What’s more, they provide access to real-time data and harness behavioural analytics that improve informed decision-making. At the same time they will ensure the latest compliance requirements are adhered to.
Effective AI-powered P2P solutions also facilitate financial reporting by automating general ledger coding and 3-way matching. In addition, customised invoice approval workflows help to balance speed with security.
Cutting through the hype
AI and the noise around the technology may be seen as a ‘catch-all’ buzzword for any sort of process automation. However, by investing in an end-to-end P2P solution, enhanced by AI, your finance department can be empowered, not supplanted, to boost productivity and improve their decision-making in the long run.
You can learn more about implementing cloud-based automation into Accounts Payable processes in this on-demand webinar: Click Here
Yooz provides the smartest, most powerful and easiest-to-use cloud-based E-invoicing and Purchase-to-Pay (P2P) automation solution. It delivers unmatched savings, speed and security with affordable zero-risk subscriptions to more than 5,000 customers and 300,000 users worldwide.
Yooz’s unique solution leverages Artificial Intelligence and RPA technologies to deliver an amazing level of automation with extreme simplicity, traceability and end-to-end customisable features. It simply integrates E-invoicing and AP Automation into information systems or ERPs with more than 250 native connectors, exceeding any other solution on the market.
Yooz is based in the US and Europe, with the UK Office located in London. Visit us at getyooz.com
