An NFL junkie and addicted to the NFL channel…
Confession… I am an NFL junkie and addicted to the NFL channel.
It amazes me today how some things that are so different such as the NFL and AP automation, P2P and Procurement can have so much in common.
I know what my friends reading this are thinking; Hammer where in the world are you going with this, that’s a far stretch, but is it really?
Watching a football game is about efficient execution. It’s no different than AP automation or Purchase Req approval; it makes an ERP more efficient and accurate.
The same disciplines that win football games, at least that’s what it looks like from a viewer's perspective, and with adding the automation process to an ERP.
Strategy in automation & football.
Now let’s talk about strategy beyond the X’s and O’s.
I have a BI background and in the last few years, I have been amazed at the AI analytics and stats on players and teams in the NFL, drilling down and predicting the percentage of player stats and team wins.
Well, that same AI technology is used in AP automation to accurately teach the coding of an AP invoice.
Now let’s take that a step further…
How about those stats and the outcome, how can that have anything to do with AP?
Data & detail win.
What if all that header and line-item detail is in a data lake and has as much information as the NFL has in their data lake. That data can then be used to look to compare pricing from one supplier to the next, much like a team. You can even take it one step further and compare line item by vendor and the average price vs the price that a particular company is paying.
Ultimately providing the statistics to negotiate better pricing.
Much like the NFL, each company can sort out how well they line up to average AP spend.
Saving hard dollars to the bottom line. How did they get there? By leveraging big data and AI just like the NFL is doing today.
Much like those stats are a must have in football, AP automation is a must have to save time and money in business, it simply can’t be done efficiently without leveraging technology.