Accuracy of Data (direct from supplier, no data entry by clerks)– Due to payables automation, the clerk’s duties have become fully automated resulting in more accurate data. With AP automation, the average accounts payable worker becomes far more efficient. Easier … Read More
Amping up the Use of AP Automation
The need to fully utilize technological advances is the latest elephant in the room for the business sector. No longer are businesses lagging because they haven’t acquired the latest technology. Now they are simply slow in using what is already … Read More
Measuring the Effectiveness of Accounts Payable
Accounts payable is one department in any organization that should be relatively easy to measure for effectiveness. Factors such as rate of invoice turnover, number of invoices correctly processed and others can be expressed numerically with little trouble if the … Read More
How E-invoicing Enhances Collaboration
Collaboration between two business partners always begins with the understanding that the combined efforts of two partners together are more potent than those of any single entity standing alone. Collaborative arrangements are possible both inside and outside of an organization, … Read More
How Smart Is Your AP Data?
Many of us in the 1980s were mesmerized by the “Knight Rider” television series that featured the “KITT Car”, an interactive Pontiac Trans Am with a human-sounding voice and operations that far exceeded the capability of a normal automobile. The … Read More
Managing the Risk of Foreign Suppliers
Risk management is a daily struggle for businesses that directly affects accounts payable. For a variety of reasons, many corporations today are choosing to import from foreign suppliers. The advantages of using foreign suppliers are many, but the level of … Read More
Eliminating the Paper Trail with Greater Efficiency
It’s hard to believe that a large percent of B2B transactions in the US and the UK are still being done with paper checks and invoices. What’s even harder to imagine is that according to the leading management consulting firm … Read More
How AP Automation Facilitates Business Contracts
Buyers and suppliers negotiate contracts all the time. Sometimes they are in the form of purchase orders that must be accepted when received. At other times there are lengthier general contracts involved that are negotiated before a purchase order is … Read More
Innovation with AP Automation
The very definition of an entrepreneur implies someone who innovates. Innovation is what drives the market; without it, the spirit of competition would drown in a sea of redundancy. Although innovation is often seen as something that comes from the … Read More
The Effect of Accounts Payable Automation On Cash Flow
Nearly every manufacturing firm has had the experience of checking an inventory list for a requested item and finding that the supply was listed at zero, only to later discover that there were several of the same items sitting somewhere … Read More
Financial Adeptness: #1 Objective for AP Departments
In 2008, an economic meltdown occurred all around the world. It has been almost a decade since the onset of this recession and the first attempts to kick start recovery. While the financial markets have now bounced back and enterprises … Read More
AP Workflow Automation: Ultimate Efficiency
Transforming an AP Department into a highly efficient organization can be extremely challenging, but with AP Workflow it can be achievable. Now with the addition of accounts payable automation it can definitely lead to successful results. By definition AP workflow … Read More
Accounts Payable Automation: A World of Efficiency
Organizations worldwide spend billions of dollars strictly for the purpose of building the processes that go into the infrastructures of their supply chains. The problem is that their ability to be automated and integrated is hampered by their natural limitations, … Read More
AP Automation VS Manual Invoice Processing
Even the most efficiently run organizations can find its manpower and budget drained due to their accounts payable or AP department. It’s not that their accountants or admin personnel are the problem, it’s the faulty, error prone, manual invoice processing … Read More
Six Ways AP Automation can Impact an Organization
Managing an accounts payable department can prove to be quite demanding, but with the right tools it can be rewarding and profitable. Accounts payable is often looked upon as a subordinate department, expected to cut costs while increasing performance, visibility … Read More