We shared concepts and steps of payment processing in the last few posts https://faoblog.com/processes-ap-payment-processing-steps/
and on fundamentals of escheatment https://faoblog.com/processes-ap-payment-processing-escheatment-contd/
The next in the sequence that I want to share is
- Spend analytics
- Spend market analytics
The analysis of spends can form a critical process for large organizations. These are normally considered high end activity. When I first outsourced a process on these, especially the first one, a number of my managers used to treat both the activities under one banner only. But fundamentally these are different. The first one deals with trending of the spends of your client, while the second one is related to market and competition analysis. There are a number of research companies which engage in these activities, do a google search and you will find a big list by geography / domain.
As the term denotes, this activity fundamentally covers an analysis of the spend done by the client / parent. Small components of this are done by back office / outsourced units while processing Invoices and T & E as well.
I will continue on this.
We received requests from our readers to share things on other F & A streams as well. We are preparing the content, and very shortly, we will commence the write-ups in O2C as well. I guess, AP predominance is taking its toll 🙂
We have enabled a button on the top of the first page, which will enable you share your posts. If you wish to write about any of the current streams, you can do it at https://faoblog.com/guest-post/. We will review your post and release it within 48 hours of your posting.