The financial executive's classic dilemma has been choosing between seemingly opposing goals: reduce costs or strengthen internal controls. In today's highly-charged environment, both goals are important, but strengthening the control environment has typically required sacrificing efficiency and reducing costs has frequently resulted in weakening controls. This white paper explores how technology such as business process automation and imaging software, tightly integrated with ERP systems, can optimize financial processes to achieve both goals. These can be reached while improving service levels, reducing errors, preventing fraud, and optimizing discounts.
