Sunway Success Story: Achieving Positive Growth with Accounts Payable Automation

PodChats with FutureCFO: The smarter way of collecting and allocating cash

Worldwide disparities and financial instability are now more widely recognised due to the difficulties brought on by the global pandemic and recent events. In order to satisfy the needs of the underserved market, there is a necessity for financial institutions to have an international commitment to promote financial inclusion. The chance to be a force for change is being presented to financial service providers as a result of these challenges. So why is it important for financial institutions to achieve sustainability (ESG) and a positive-sum growth with the help of service providers?

In an autonomous finance function, processes and activities are partly governed and majority operated by self-learning software agents that optimise front-, middle- and back-office operations.
Gartner says CFOs have ambitious plans to reach a state of autonomous finance within the next three to six years that will require a significant reshaping of finance team structures to achieve.

Charlie Cheah, Asia managing director for Esker, believes that companies need to look at AI-driven automation solutions as one of the key enablers for positive-sum growth to address the challenges facing businesses today.

 
"Leading finance teams will learn to position AI-driven tools and solutions as co-workers that help them do their jobs better," Mark D McDonald, senior director analyst in the Gartner Finance practice.

Once you experience the reliability, efficiency, and user-friendliness of e-invoicing, you’ll question how you ever coped without it.

Tired of drowning in a sea of paper invoices and receipts? Well, it’s time to say goodbye to the headache-inducing mess and hello to e-invoicing. With e-invoicing, businesses can kiss the days of manual data entry and lost invoices goodbye. Imagine a world where you can effortlessly send, receive, and manage all of your invoices electronically. Not only is it more efficient, but it’s also environmentally friendly.

Enter InvoiceNow, a new nationwide e-invoicing method by Infocomm Media Development Authority (IMDA) that allows an invoice to be sent digitally between the systems directly of your suppliers and buyers. The invoice is sent automatically to your supplier and customer’s backend systems through a secure network and a standard format (Peppol InvoiceNow) therefore, it’s seamless.

With this e-invoicing solution, it’s like having a personal assistant for all of your invoicing needs. It integrates seamlessly with your existing systems, and you can customise it to fit your unique needs. With an e-invoicing solution that is reliable, efficient and so easy to use, you’ll wonder how you ever managed without it. 

Get ready to hear all about Invoicenow in this podcast in collaboration with DigitalCFO Asia, where we chat with Derrick Sun, Director of Business Development at Esker Asia.

Sunway Group was looking to automate its highly manual invoice management processes to free up its finance shared service centre from time-consuming, low-value tasks and streamline its business processes.

We sat down with How May Lynn, Senior General Manager, Finance from Sunway Group a customer of Esker for 7 years and Charlie Cheah, Director, Sales and Services from Esker Asia. In this podcast, we will be walking you through the digitalisation journey of Sunway, how they started, the challenges and finally their achievements.