From O2C & H2R to ESG our SSOW Europe 2024 Recap

SSOW Lisbon: 3 days of Innovation, Collaboration and Transformation

SSOW Europe 2024 brought together brilliant minds in the GBS and shared services industry with Hypatos right in the mix, not only as a sponsor but also as a co-host of a live session where we unveiled a ground-breaking partnership with Holcim Global Hub Business Services.  

The focus theme was exploring how automation and generative AI will reshape the landscape of GBS and shared services. Sessions discussed how modern technologies could free up talent for more strategic work, while also acknowledging the need to upskill and reskill teams. Participants looked at ways to promote a human-machine collaboration that prioritizes both efficiency and ethical considerations. And yes – we were there to soak up the knowledge.

Outside of the congress center and business talk, Estoril left us enchanted with its hospitality and beauty and we can’t wait to be back.

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Takeaways

While Purchase-to-Pay (P2P) processes remain the historical foundation of intelligent document processing due to the standardized nature of invoices, the real excitement at SSOW Europe was around Order-to-Cash (O2C) automation and autonomization. Companies are becoming vocal about the need for mature vendors. The buzz around O2C reflects its status as the next major contributor to operational excellence. Our discussions also highlighted the growing importance of Hire-to-Retire (H2R) processes and ESG reporting as key areas ripe for automation.

This demand for efficient, no-touch processing will push the adoption of embedded AI across the board, and organizations are learning to experiment with new processes and tools.

Achieving success in these new avenues—O2C, H2R, and ESG—will inevitably elevate AP autonomous finance solutions to a whole new level of maturity, as all these processes are interconnected. A survey by SSON for the SSOW Europe event identified that around 78% of companies have a low to medium level of AP automation, which raises questions about the other 25% and the potential for high to no-touch automation. There is room to grow both vertically and horizontally in any of these use cases.

HY in the spotlight

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This year we were honored to be included in Holcim's 2024 SSON European Impact Award nomination for our automation breakthroughs. We showcased how Holcim accomplished over 95% end-to-end automation in their Source-to-Pay (S2P) operations—all thanks to the combined power of our proprietary large language models (LLMs) and generative AI. Resulting in gains in process efficiency, cost savings, and strategic resource reallocation.

Holcim's success story is a powerful testimony of how generative AI revolutionizes industries. Businesses can free up their talent to concentrate on higher-level strategic objectives by automating monotonous operations and extracting important insights from data. This drives efficiency up and fosters a more innovative and engaged work environment. At Hypatos, we're thrilled to be at the forefront of this AI revolution and are committed to assisting businesses in realizing comparable game-changing outcomes.

Want to learn more about the impact we have? Watch our webinar Navigating the Shift to Autonomous Finance with Generative AI.

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