White paper on Invoicing and Workflow:Process Invoices Faster
We endeavour to bring out to you best in class in the accounting and accounts outsourcing world. We found a good paper on integrating process automation for better efficiencies on AP. This is available for free for a limited period (Link for download at the bottom of the post). Happy Sunday reading.
Discover how Best-in-Class companies…
- Capture More Early Payment Discounts
- Cut Late Payment Penalties
- Lower Processing Costs
Paper invoices and manual processing hamper accounts payable operations, keeping suppliers in the dark and failing to give Finance the visibility it needs. This study profiles enterprises at varying stages of AP maturity. The end goal is to drive savings through discount capture, penalty avoidance, and lower labor costs – all while improving the speed with which they can access payables-related information.
Accounts Payable (AP) is still a paper-heavy business function. For companies responding to Aberdeen’s latest AP survey, nearly 77% of all incoming invoices were still paper-based. This is an area still maturing in terms of process automation and technology adoption, with great (and as of yet untapped) potential for driving savings to the bottom lines of every organization. This study provides an overview of the current state of accounts payable automation, with a focus on best practices for handling the receipt and approval of incoming invoices.
You can download this paper at:http://vault.aberdeen.com/login/?doc=/launch/report/benchmark/6997-RA-workflow-invoice-processing.asp&siacid=33
You may be asked to register and answer a few questions. We found this paper quite valuable.