Understanding the Invoice Lifecycle and Its Challenges
To choose the best invoice data capture solution, it’s important to understand the key stages of the invoice lifecycle and where inefficiencies tend to occur. The process begins when a vendor provides a product or service and sends an invoice to your business. The accounts payable department must then record this invoice, assign it the correct general ledger codes, verify its accuracy by matching it to purchase orders or receipts, and finally route it for approval and payment.
Each step in this cycle presents unique challenges. Entering invoice data manually takes time and is vulnerable to mistakes such as incorrect amounts, missed deadlines, or coding errors. Matching invoice details to purchase orders and receipts can be particularly labor-intensive if supporting documents are stored in multiple systems or physical locations.
Manual processing also lacks the consistency and speed necessary for modern financial operations. The need to manually verify details, route documents between departments, and follow up with approvers can delay payments and even incur late fees or missed discounts. These delays not only affect vendor relationships but can also lead to cash flow issues and poor audit trails.
The Cost of Manual Invoice Data Entry
Manual data entry creates several hidden costs for businesses. Beyond the obvious labor expenses, slow processing cycles often result in missed early payment discounts and increased administrative overhead. More importantly, manual processing increases the risk of human error, which can lead to duplicate payments, overpayments, or fraudulent invoices slipping through the cracks.
In industries with tight margins, these errors can have serious consequences. A mistyped invoice number or an incorrectly assigned GL code might not be discovered until a month-end close or audit, complicating financial reporting and compliance efforts. The time spent correcting these errors is time not spent on more strategic financial activities.
Companies that continue to rely on manual processes also struggle to scale. Hiring additional staff to keep up with invoice volumes may offer temporary relief, but it doesn’t address the root issue. As the number and complexity of invoices increase, the chances of error also rise—making manual approaches unsustainable in the long run.
Introducing Automated Invoice Data Capture
Automated invoice data capture replaces the need for manual data entry with technology that extracts and processes invoice information accurately and quickly. The goal of automation is to streamline the flow of invoices from receipt through payment while maintaining control and visibility at every stage.
Automated systems reduce cycle times by eliminating repetitive tasks such as typing invoice data, verifying line items, and chasing down approvals. By automatically extracting key invoice details and coding them according to predefined rules, these systems allow your AP team to focus on higher-value activities.
There are multiple ways to achieve invoice automation, from basic scanning and OCR tools to advanced systems powered by artificial intelligence and machine learning. Each approach offers a different level of efficiency, accuracy, and adaptability.
Key Methods for Invoice Capture
Businesses today have several options for capturing invoice data efficiently. The three primary approaches include digital scanning and OCR, outsourced document processing, and artificial intelligence–based accounts payable automation. Understanding the benefits and limitations of each method will help you choose the right one for your organization.
Digital Scanning and Optical Character Recognition (OCR)
Digital scanning tools use optical character recognition technology to convert paper-based or PDF invoices into machine-readable formats. This approach allows companies to digitize paper invoices and reduce reliance on physical filing systems.
Once the document is scanned, the OCR engine identifies text fields and extracts values such as invoice numbers, vendor names, line items, taxes, and totals. In most cases, the software relies on templates to guide data extraction, which means it must be configured to recognize specific invoice layouts.
While OCR technology can significantly reduce the need for manual data entry, it is not always reliable when dealing with unstructured or complex invoice formats. Template-based OCR systems often require regular updates to accommodate changes in vendor invoice designs, which adds to maintenance costs.
Furthermore, OCR tools typically do not perform validations, approvals, or general ledger coding. This means your AP staff will still need to manually review extracted data, assign codes, and ensure compliance—limiting the overall time savings and efficiency gains.
Outsourcing Invoice Processing
Outsourcing is another option for businesses looking to offload invoice capture responsibilities. In this model, companies send their invoices to a third-party provider, which handles the scanning, extraction, and formatting of data before returning it in a structured format ready for import into accounting or ERP systems.
Outsourcing can help reduce internal workloads and avoid the capital investment needed for scanning equipment or software licenses. It’s especially appealing for companies with fluctuating invoice volumes, as it allows them to pay only for the services they use.
However, outsourcing introduces new concerns, especially related to data privacy and control. Financial documents often contain sensitive information, and sending them to an external provider may expose the company to security risks or compliance issues. If a data discrepancy occurs, locating the original document for verification may be difficult—particularly if physical copies are stored offsite or destroyed.
Additionally, outsourcing often means sacrificing real-time visibility into invoice processing. Since the process is managed externally, internal teams may find it harder to track the status of individual invoices or respond quickly to vendor inquiries.
AI-Powered Invoice Automation
The most advanced and flexible method for invoice data capture involves leveraging artificial intelligence. These systems use a combination of machine learning, natural language processing, and intelligent OCR to read, extract, and interpret invoice data in a dynamic way.
Unlike traditional OCR, AI-powered solutions are not dependent on templates. They can recognize and process a wide range of invoice formats without needing to be programmed for each vendor. This allows businesses to automate invoice capture at scale, even when dealing with unstructured or inconsistent layouts.
AI systems also go beyond data extraction. They are capable of performing general ledger coding, checking invoice amounts against purchase orders, flagging discrepancies for human review, and routing invoices for approval based on preconfigured business rules. Some systems even allow invoices that meet certain criteria to be approved automatically, shortening processing times and improving cash flow.
One of the key benefits of AI is its ability to learn and improve over time. With every invoice it processes, the system refines its recognition patterns and coding decisions. This continuous learning makes it more accurate and efficient with each use, providing long-term value to organizations that process high invoice volumes.
Factors That Influence Your Choice of Solution
Not every business needs the most advanced AI-powered system from day one. The best invoice data capture solution is one that aligns with your operational complexity, budget, and growth trajectory. Here are some critical factors to consider when making your decision:
- Invoice Volume and Complexity: If you process a high number of invoices from diverse vendors, an intelligent system that can handle various formats without constant reconfiguration is essential.
- Integration Capabilities: Your chosen solution should integrate seamlessly with your existing ERP or accounting system. This ensures smooth data flow, reduces the need for manual uploads, and maintains a single source of truth across financial operations.
- Data Accuracy Requirements: Companies in regulated industries or those with complex reporting needs should prioritize systems that offer high data accuracy, automated validations, and audit trails.
- Team Capacity and Skill Level: Evaluate your internal team’s ability to manage, configure, and maintain the system. While AI systems reduce manual workload, they still require initial setup and ongoing oversight.
- Scalability: Choose a solution that can grow with your business. As invoice volumes increase, your system should continue to deliver consistent results without requiring major upgrades or process overhauls.
- Security and Compliance: Ensure that any solution you consider complies with industry standards for data security, including encryption, role-based access control, and audit logging. This is particularly important if you handle sensitive vendor or customer information.
- Total Cost of Ownership: Don’t base your decision solely on licensing fees or hardware costs. Consider long-term savings, including reduced labor, fewer errors, and improved vendor relationships, when evaluating ROI.
Evaluating Invoice Data Capture Features That Truly Matter
Once your business determines that manual invoice processing is no longer sustainable, the next step is to evaluate which invoice data capture solution will meet your needs. With many tools on the market, each claiming unique benefits, it’s easy to be overwhelmed by features and terminology.
Instead of chasing feature lists, focus on what will impact your operations. Effective invoice data capture software should eliminate repetitive tasks, reduce the risk of error, and support the smooth flow of financial data. At a minimum, the solution should provide high-accuracy data extraction, integration with your accounting or ERP system, automated general ledger coding, and intelligent approval workflows.
For companies that operate across different business units, subsidiaries, or geographic locations, features like multi-currency support, tax code flexibility, and customizable approval rules become essential. Beyond that, tools that support audit trails, data validation, and real-time reporting will help finance leaders maintain control and transparency.
Importance of Intelligent Data Extraction
The primary function of any invoice capture solution is to extract data from invoices—both paper and digital—and convert it into structured, usable information. Traditional OCR tools can only read text on a surface level. In contrast, modern intelligent systems interpret the context behind the data.
This is achieved using technologies such as machine learning and natural language processing. These capabilities allow the system to identify line-item details like product names, descriptions, quantities, tax rates, payment terms, and supplier information, even when invoice layouts differ.
This flexibility is important because vendors don’t use standard formats. If your system depends on rigid templates, you’ll spend significant time updating the software for each new vendor or layout change. Intelligent data capture solutions recognize key data regardless of format, improving both speed and accuracy.
Automated GL Coding and Categorization
General ledger coding is another area where automation can add tremendous value. Manually assigning GL codes to invoice line items is one of the most time-consuming tasks in accounts payable. It’s also highly prone to error, especially if coding decisions rely on historical knowledge stored in the minds of a few team members.
Advanced invoice capture tools analyze past transactions and vendor behaviors to predict and assign the appropriate codes automatically. Over time, the system refines its accuracy based on user corrections and feedback. This not only saves time but also ensures consistency across entries, which is crucial for clean reporting and compliance.
Some systems also support predefined rules that trigger different coding patterns depending on invoice type, vendor class, or department. This flexibility allows companies to create a tailored experience while maintaining internal standards.
Matching Invoices to Purchase Orders and Receipts
One of the most powerful features in invoice automation is automatic matching of invoices with associated purchase orders and goods receipt notes. This process, known as three-way matching, ensures that a company only pays for items that were ordered and received.
When done manually, this process is time-consuming and can delay approvals. Automated systems streamline this by pulling data from multiple sources and verifying them against the invoice. If everything matches, the invoice can proceed for approval or payment. If not, the system flags the issue for review.
This functionality not only reduces fraud and duplicate payments but also improves supplier relationships by accelerating the payment timeline when everything is in order.
Dynamic Approval Routing
Approval delays are one of the most common bottlenecks in invoice processing. Automating this step can significantly shorten the time it takes for an invoice to move from entry to payment. Look for invoice capture systems that support dynamic workflows based on criteria like department, invoice amount, or type of expense.
For example, low-value invoices could be automatically approved if they match a purchase order, while high-value items may require additional authorization from a senior executive. The ability to customize routing rules ensures the right balance between control and efficiency.
Also consider systems that provide alerts, reminders, and status updates throughout the approval process. This increases accountability and ensures that invoices don’t sit idle for days or weeks waiting for manual intervention.
Integration With ERP and Accounting Platforms
No matter how powerful your invoice capture tool is, it won’t deliver full value unless it integrates seamlessly with your existing systems. Compatibility with ERP platforms, accounting software, and procurement systems is critical to ensuring data flows smoothly between applications.
Direct integrations eliminate the need for manual exports or double entry, which reduces the chance of errors and creates a unified financial environment. Look for systems with prebuilt connectors for your ERP or those that offer robust APIs if you require a custom integration.
Real-time synchronization between systems allows your finance team to track invoice statuses, review financial positions, and plan cash flow with confidence. The more tightly integrated your tools are, the more visibility and control you’ll gain across departments.
Scalability to Support Long-Term Growth
One of the most overlooked considerations when selecting an invoice data capture solution is scalability. It’s easy to choose a system based on your current needs, but if your business grows—or your invoice volume increases significantly—the system should scale without requiring a complete overhaul.
Start by evaluating how the platform handles an increase in invoice types, vendors, and currencies. Can it manage multiple business units with different approval chains or GL structures? Will performance remain consistent as volume scales?
Also review the vendor’s roadmap and commitment to continuous improvement. A good solution should evolve over time to include new technologies and functionality, so you don’t have to switch platforms every few years as your needs change.
User Experience and Adoption
Even the most advanced system is ineffective if your team doesn’t use it. The user interface and experience are vital to widespread adoption. Look for a clean, intuitive dashboard that provides users with the tools they need to manage invoices quickly and easily.
Features like drag-and-drop invoice uploading, batch processing, mobile approvals, and customizable views help streamline day-to-day tasks. Also check if the solution supports user roles and permissions so that employees only access the features and data relevant to their role.
Many providers offer onboarding and training as part of their implementation packages. However, systems that require minimal training and support tend to have higher adoption rates and faster returns on investment.
Implementation Time and Support
Choosing a solution is just the beginning. Implementation determines how soon you start seeing value. Some tools can be deployed in a matter of weeks, while others may take several months depending on the complexity of your environment.
Evaluate what the setup process entails. Will your provider assign a dedicated success manager or implementation consultant? Is data migration included? Will the provider assist in mapping invoice data fields and building workflows?
Equally important is post-launch support. Check for availability of customer service, service-level agreements, and escalation procedures. Ongoing vendor support ensures that you get help quickly when issues arise, and your system continues operating efficiently.
Leveraging Data for Reporting and Compliance
Beyond operational efficiency, an invoice data capture solution should also enhance your ability to report and comply with financial regulations. Look for systems that provide real-time dashboards, customizable reports, and audit trails.
With full visibility into the invoice lifecycle, finance teams can track metrics such as average invoice processing time, approval bottlenecks, exception rates, and early payment discount utilization. These insights can inform broader financial strategies and pinpoint areas for further improvement.
Audit trails and document archiving are particularly important for compliance. An automated system should store digital copies of invoices and maintain logs of who reviewed, approved, or modified each document. This ensures that all actions are traceable and verifiable in the event of an audit.
Building the Business Case for ROI
The return on investment for invoice automation comes from multiple sources: labor savings, fewer errors, improved payment cycles, and better cash flow management. To build a compelling case, quantify how much time your team currently spends on manual data entry, invoice matching, and chasing approvals.
Estimate the cost of errors, late payments, and missed discounts. Then compare this with the projected efficiency gains, reduced processing times, and early payment incentives that automation can unlock. Include intangible benefits like improved vendor satisfaction and enhanced compliance in your calculations.
It’s also worth noting that automation reduces the need for AP team expansion as your company grows. Instead of hiring more clerks, you can manage higher invoice volumes with your existing team—freeing them up to take on more strategic responsibilities.
Vendor Reputation and Market Presence
Before finalizing your decision, research the vendor’s market standing and reputation. Look for independent reviews, customer testimonials, and third-party validation of performance and reliability.
Peer review platforms, industry forums, and professional networks can provide valuable insights into real-world use cases. Pay close attention to feedback regarding customer support, integration experiences, and how the system performs under pressure.
It’s often helpful to request case studies or references from businesses in your industry or of a similar size. Their experiences can highlight potential roadblocks and guide your expectations for rollout and ongoing use.
Preparing for Change Management
Implementing a new system can be disruptive without proper planning. Successful transitions depend on effective change management strategies that address user concerns, provide training, and ensure continued performance during the switchover.
Communicate the benefits of the new system clearly and involve key stakeholders early in the process. Gather input from users in different departments to ensure that workflows are designed with everyone’s needs in mind.
Finally, set measurable milestones for post-implementation success. Monitor performance against these metrics and adjust your strategy as needed. Continuous feedback loops help fine-tune the system and maintain high adoption over time.
Evolving Invoice Capture: From Automation to Optimization
Implementing an invoice data capture solution is a major step toward modernization, but success doesn’t stop at deployment. The most impactful accounts payable systems evolve with the business, adapt to new invoice formats, and improve continuously through feedback, training data, and optimization.
As your AP solution begins to handle larger volumes and complex workflows, you’ll want to focus on ensuring consistent performance, uncovering areas for improvement, and supporting long-term financial visibility. Intelligent automation isn’t just about reducing manual data entry—it’s about driving operational excellence and reducing risk throughout the entire invoice lifecycle.
A well-implemented invoice capture system will eventually become a central pillar of your financial operations. To maintain that effectiveness, organizations must track key performance metrics, establish governance policies, and adopt new features as they become available.
Monitoring System Performance and Accuracy
After the initial rollout of an automated invoice capture system, the first priority should be to track how well the platform is performing. Performance monitoring includes several aspects—data accuracy, exception rate, throughput volume, user satisfaction, and compliance.
Accuracy remains the core of any invoice capture tool. You should routinely check how accurately the system is extracting fields like invoice number, date, vendor information, amounts, line items, and tax values. Most systems provide dashboards that display real-time error rates and alert you when manual corrections are required. A decreasing trend in flagged fields over time indicates that the system is learning and improving.
Throughput volume measures how many invoices the system processes daily, weekly, or monthly. As you increase input from new suppliers or business units, your system should maintain processing speeds and avoid backlogs.
Exception rates offer insight into how often the system fails to match invoices with purchase orders or flags them for human intervention. Lower exception rates suggest the solution is interpreting invoice content correctly and following validation rules accurately.
User feedback is equally valuable. Your finance and AP teams will interact with the tool daily, so collecting feedback on usability, response times, and automation accuracy will help fine-tune workflows.
Leveraging Advanced Analytics for Invoice Optimization
Modern invoice capture platforms go beyond data extraction—they provide analytics dashboards that support real-time visibility and long-term strategic decision-making. These tools allow finance leaders to track processing timelines, identify bottlenecks, and uncover patterns in supplier behavior.
Advanced analytics can answer critical questions such as:
- How long does it take for an invoice to move from receipt to payment?
- Which suppliers are responsible for the most delayed or problematic invoices?
- Are you consistently missing early payment discounts?
- What is the average exception rate for invoices from specific departments or locations?
These insights enable your organization to make data-backed decisions, such as negotiating better terms with high-volume vendors or redesigning internal workflows to reduce delays. Over time, AP data becomes a valuable resource for forecasting cash flow and managing working capital.
Fraud Prevention and Risk Detection in AP Workflows
One of the major benefits of AI-powered invoice automation is its ability to detect patterns that indicate fraud, anomalies, or duplicate payments. Traditional AP processes often rely on visual checks, leaving them vulnerable to subtle manipulation, especially during periods of high invoice volume.
Invoice fraud comes in many forms—unauthorized vendor additions, inflated line items, duplicate billing, or altered bank account information. Automated systems use historical data to establish a baseline of what a legitimate invoice looks like and then flag invoices that deviate from this norm.
For example, if a vendor typically invoices your company for standard service fees and suddenly submits an invoice with an unusually large product charge, the system can alert an AP analyst to review it. Similarly, if two invoices from the same vendor contain identical line items and amounts but have slightly different invoice numbers or submission dates, the system can detect this as a potential duplicate.
Some advanced systems also include vendor validation tools that check new or modified vendor data against approved registries. This helps prevent payments from being rerouted to fraudulent accounts. Fraud detection capabilities are even more important in large organizations where invoice approval authority is distributed across departments. Automated systems enforce consistent review rules and trigger escalations based on anomalies or pre-defined criteria.
Handling Exceptions with Human Oversight
Even the most advanced invoice automation tools can’t eliminate the need for human involvement. Certain invoices require judgment calls that machines cannot yet replicate—such as whether to accept an invoice with a slight pricing variance or determine whether an unusual expense should be approved.
Automated solutions should support clear exception handling workflows. When the system cannot match an invoice to a PO, or when an invoice exceeds an approval threshold, it should route the document to the appropriate stakeholder with full context for decision-making. That includes access to the invoice image, extracted data, associated purchase order, receipts, and notes from prior approvals.
Maintaining this level of visibility empowers employees to resolve issues quickly and helps uphold internal controls. A well-designed exception workflow minimizes confusion, avoids processing delays, and ensures that all decisions are documented and auditable.
Supporting Multi-Entity and Multi-Currency Operations
For businesses with multiple subsidiaries or international operations, invoice processing can become exponentially more complex. Each entity may use different general ledger structures, tax rules, vendors, and approval chains. A flexible invoice capture solution must be capable of supporting this diversity without creating silos.
Multi-entity support allows organizations to standardize invoice processing workflows across different locations while maintaining legal, regulatory, and financial separation where necessary. This includes assigning invoices to the correct entity based on metadata such as the delivery address, PO number, or business unit code.
Similarly, multi-currency support ensures accurate conversion, reporting, and tax calculation. The system should automatically recognize invoice currencies and apply exchange rates either from historical sources or live feeds. Currency differences should be clearly indicated throughout the approval and payment process.
Consolidating AP operations in this way provides global visibility while allowing each business unit to maintain its unique compliance and reporting requirements. Finance teams can generate consolidated reports and perform cross-entity analysis without reconciling different formats manually.
Enhancing Collaboration Across Departments
Invoice processing often touches more than just the finance team. Procurement, operations, legal, and even sales may need to be involved at various points in the invoice lifecycle. A modern invoice capture platform facilitates cross-functional collaboration by centralizing communication and giving all stakeholders access to relevant invoice data.
For instance, if a discrepancy is found in the quantity received, operations staff can add a comment or supporting document directly within the invoice record. If legal needs to validate a new vendor agreement, the invoice can be flagged and shared with them through a secure workflow.
Centralized communication reduces the need for scattered emails or offline conversations, ensuring all actions and comments are logged in one place. This not only speeds up resolution times but also improves accountability and transparency. Collaborative tools such as automated notifications, tagging, and role-based dashboards allow users to stay informed without being overwhelmed by irrelevant information.
Automating Audit Trails and Document Retention
Compliance with tax laws, internal controls, and audit requirements is a major responsibility for finance teams. Manually maintaining documentation for each invoice is labor-intensive and error-prone. Automated systems simplify compliance by generating digital audit trails for every invoice.
These trails record every interaction with the invoice—including uploads, data extraction, corrections, approvals, and payments—along with user identities and timestamps. This log becomes a valuable asset during internal reviews, financial audits, or regulatory inquiries.
Invoice capture solutions should also support long-term document retention policies. Digital storage eliminates the need for physical archiving and ensures that invoices can be retrieved instantly for reference. Advanced search capabilities make it easy to locate specific invoices based on vendor, amount, date, or other criteria. By ensuring that invoice records are accurate, complete, and accessible, businesses can reduce the risk of compliance violations and demonstrate financial integrity to stakeholders.
Preparing for Continuous Innovation in AP Technology
The technology behind invoice data capture is advancing rapidly. As new capabilities emerge—from predictive analytics to conversational AI—organizations should stay informed and prepared to adopt tools that further improve performance.
Predictive analytics can help businesses forecast invoice volumes, detect seasonal trends, and proactively manage cash flow. Integration with business intelligence platforms allows financial data from invoice systems to inform broader planning and strategy.
Voice-activated interfaces or chat-based invoice approvals may soon become mainstream, reducing the reliance on desktop workflows. As user expectations evolve, systems that support mobile-first experiences and conversational AI will become more attractive.
Companies should also watch developments in government e-invoicing mandates, particularly in regions moving toward real-time invoice clearance. A flexible and future-ready invoice capture system should be able to integrate with tax authorities or digital compliance hubs when required.
To stay ahead of these changes, regularly evaluate your vendor’s roadmap and commitment to innovation. Participating in user forums, webinars, and feedback programs helps ensure that your solution provider understands your evolving needs and builds features accordingly.
Promoting Financial Agility Through Digital Transformation
Ultimately, the adoption of an advanced invoice data capture solution should enable financial agility across your organization. Faster invoice cycles allow for improved working capital management. Accurate data improves forecasting. Reduced errors minimize compliance risks. And streamlined workflows free up time for strategic financial initiatives.
As digital transformation initiatives take hold, finance departments are no longer just cost centers. They are expected to deliver insight, enable growth, and ensure regulatory alignment. Invoice automation is one of the most immediate and measurable ways to support this mission.
By implementing a well-optimized system, your accounts payable team can shift from transactional tasks to proactive financial planning. This transition not only improves operational performance but also contributes to broader business goals.
Conclusion
In today’s fast-paced, data-driven financial environment, accounts payable departments face growing pressure to manage higher volumes of increasingly complex invoices with greater accuracy and speed. Traditional, manual invoice processing methods can no longer keep up with these demands. They are slow, error-prone, and resource-intensive—leaving businesses vulnerable to inefficiencies, compliance risks, and missed opportunities for optimization.
The answer lies in adopting a robust, intelligent invoice data capture solution. Throughout this series, we’ve explored the challenges of invoice processing, examined the core technologies behind automation, and outlined a strategic framework for evaluating and implementing the right system for your organization.
Modern invoice capture tools—particularly those powered by artificial intelligence and machine learning—can dramatically improve operational efficiency. They automatically extract data from diverse invoice formats, apply accurate general ledger coding, and enable seamless three-way matching against purchase orders and receipts. This not only speeds up the accounts payable cycle but also strengthens internal controls and fraud prevention.
However, the real power of these systems goes beyond automation. Intelligent invoice processing platforms provide visibility into key financial metrics, support audit readiness, enhance collaboration across departments, and scale with your business as it grows. They integrate seamlessly with your ERP or accounting tools and evolve through continuous learning and optimization.
To maximize the value of your investment, it’s critical to choose a solution that aligns with your organization’s unique needs, infrastructure, and goals. Look for flexibility, security, ease of use, and long-term vendor support. Be sure to implement robust change management strategies, monitor performance, and continuously refine your workflows based on analytics and feedback.
By moving away from reactive, manual AP processes and embracing intelligent automation, your organization can unlock greater financial agility, reduce processing costs, enhance compliance, and empower your team to focus on higher-value work. Invoice capture is no longer just a back-office function—it’s a strategic advantage. The businesses that recognize this and act accordingly will be better positioned to thrive in a competitive and rapidly evolving marketplace.
