A free white paper Brought to you by The Accounts Payable Network and Corcentric:
The procure-to-pay (P2P) process is evolving from a series of isolated and mostly clerical purchasing and accounts payable functions to a single end-to-end automated process that brings efficiency, visibility, and control and contributes to the operational and financial success of the organization. Organizations have realized that each dollar saved to the bottom line is equivalent to four to five dollars in new sales. They have also found the hidden value that the AP process, as a key component of the P2P cycle, can bring to an organization in cost-saving opportunities and process improvements. These cost-saving opportunities and improvements are gained by process improvements made possible largely through automation. Automation also brings visibility to the P2P cycle and can provide increased cash flow and improvements to working capital.
This no-cost report will show how automation can help organizations:
- Utilize procurement spend analysis by automating reporting solutions that provide timely access to accurate data
- Achieve total end-to-end costs of under $1.50 per transaction, with savings dropping straight to the bottom line
- Shrink time spent manually handling invoices and workflow processes
- Reduce errors and duplicate payments by reviewing and matching invoices without the need to key in the data
- Improve visibility and controls throughout the P2P cycle
- Decrease processing time by moving invoices and other items through the systems at a fraction of the time that paper processing takes – allowing organizations to take advantage of early-payment discounts
- Identify and consolidate volume spend to allow for better contract negotiation and pricing
- Develop a business case to generate support, participation and management commitment to turn an automation proposal into a reality
- Spare staff’s time to handle more value-added processes such as vendor maintenance or cost analysis
- And much, much more!
This information-packed report is available for a limited time only.