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Currently Browsing Tag: Invoice Processing

Accounts Payable Efficiency Drives Supply Chain Excellence

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Accounts payable efficiency is essential to maintain the health of any organization’s supply chain. Missing invoices, reconciliation issues and late payments can negatively affect supplier relationships and cause supply disruptions, leading to higher costs and operational bottlenecks. According to Aberdeen Group, best-in-class companies that have achieved accounts payable efficiency are: 8 times more likely to have automated PO matching 7 times more likely to have software configured to capture and interpret payment processing 3 times more likely to have capabilities for data extraction from printed/typed documents 5 times less likely to have paper invoices entered into the system by hand … Continue reading

B2B Technology Landscape – Evolving to Meet Market Demand

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With growing rapidity, the B2B technology landscape is evolving to support digital transformation, converging business models, and the nonstop demands of e-commerce requirements.  B2B customers want service and support and are fueled by expectations that burn hot in B2C. Aberdeen Group reports that the ability of companies to keep pace is magnified by the growing complexity of broader and deeper supply chains, which in turn are driving changes in the B2B technology landscape. The Aberdeen report “B2B Technology Landscape – Evolving with the Times to Meet Market Demand” finds that the pressures facing companies prioritizing their technology needs include: Rising … Continue reading

Automation Benefits AP Department Performance

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When a company increases accounts payable it generally means there is also an increase in products or services. Businesses should aim to increase efficiency while also increasing output. A common predicament is having to deal with the growing number of transactions without losing productivity. A recent survey conducted by the Aberdeen Group reported the following: 42% of respondents stated that they need to be able to better manage their growing number of transactions 35% said they needed to “expedite financial information delivery” 40% listed the need for real time availability of data as a major challenge 33% had problems processing … Continue reading

7 Reasons to Automate AP to Improve Cash Flow

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Automate the AP process to gain control, increase visibility and reap the benefits of improved invoice management What is the greatest time-saving invention of all time? Search online, ask your co-workers and you will find many answers – from the wheel to the telephone, the Model-T Ford to wireless technology. Whatever your choice, each of these inventions saved us time by shortening the distances and connecting us to family, friends, work and play. Luckily, these inventions continue to spawn new ideas and new ways to save us time and energy. In the 21st century we now have electric cars, laptop … Continue reading

How to Take Advantage of Early Payment Discounts

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Not too long ago we discussed how to avoid a late payment and how AP Automation can manage the entire payment process quickly and accurately, thereby avoiding past due accounts. And as beneficial as avoiding a late payment may be, taking advantage of early payments may prove to be the next step in good business decisions. According to Scott Pezza on, if, in fewer than 10 days, your business can get an invoice to accounts payable, confirm the bill’s accuracy, obtain approval, and initiate payment then it may be worthwhile to pay in full ahead of time for an early … Continue reading