Did you download the paper from the A P Network? It contained good inputs on various ways to automat AP processes and how you can take it to the cloud. https://faoblog.com/evolution-procure-to-pay-process-office-cloud/
We had updated multiple posts on Spend Analytics:
Today we share various things that can be done for implementing spend analytics.
- Consolidation of Existing Suppliers: Determine the dependencies with current suppliers. See if you can consolidate or restructure the purchases to optimize costs both on raw material and transportation front.
- Supplier Categorization: Identify and analyze suppliers for each category of your products. Do a pareto analysis, find out which 20% suppliers deliver 80% of your requirements for each category of purchases by your client. You can easily eliminate the non-essential suppliers.
- Optimize low value purchases: Quite often, low value purchases move through the accounts payable system which may be incurring costs as high as about $5-10 per invoice for processing. Find alternatives, like use of P-Cards or decrease the payment frequency, or move it to a process with lesser checks and controls.
- Purchase Price Variance Analysis: This process comprises of analyzing prices paid for the same good or service, which may vary from vendor to vendor. This analysis will help in negotiating or restructuring the buying and its patterns.
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