Is this going to be your “Year of Efficiency”? Mark Zuckerberg famously branded 2023 as Meta’s “Year of Efficiency”, and other tech titans followed suit. Zuckerberg wanted to make Meta a better technology company and to improve the company’s financial performance. The steps he took were rewarded with a significant rise in Meta’s share price.
There was a lot of discussion last year in the worlds of politics and business about the UK’s productivity crisis. Not that that’s a new problem: it’s been that way since the financial crisis of 2008, with the UK faring poorly in that respect against other G7 countries.
Does your organisation have a productivity crisis? Do you need to declare a “Year of Efficiency”? Big questions which might seem daunting to try and answer beyond a cursory “Yes” because, of course, there are always improvements to be made and it’s great to feel you are mobilising a transformation initiative that others can get behind.
But it’s one thing having a catchy phrase and another knowing where to actually start. How do you do more with less? Using the latest technology to help people work smarter and faster is an obvious place to turn towards, but it’s a complex landscape to navigate and hard to reap the benefits.
How about starting with something simple and low cost? A quick win that gives you and your team confidence that technology really can be a game changer.
If you work in Finance and Accounting, you’ll know what a time-consuming, tedious and manual process it is to complete supplier statement reconciliations. For a busy Accounts Payable team, it’s often one of the first activities to be dropped. Yet you’ll also know the benefits of doing the “recs”: finding unallocated credits; spotting duplicates; cleansing your GRNI accounts; resolving discrepancies proactively with suppliers and reducing their queries.
So, why not try a proven tool which uses technology to fully automate the process, reducing the task from hours to minutes with a 15x speed improvement over a manual process. Learn about how we can help to build a more productive future for your organisation and sign up for a free trial or take a look at our video here: Liberata: Supplier Statement Reconciliation Service
Nick Peplow is Liberata’s Solutions Director, Financial Services.
Nick joined Liberata in January 2021 as Solutions Director, Financial Services, to focus on developing and growing the company’s Finance and Accounting services in both the public and private sectors.
He is a commercially driven and influential business leader with a sustained record of success, combining strong analytical, problem solving, and decision-making skills with a passion for innovation and growing value for a business and its customers.
Nick leaves near Bromsgrove in Worcestershire, UK.
nick.peplow@liberata.com
