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Invoicing and work flow

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Top pressures driving focus on A/P improvement:

- lack of visibility into invoices and A/P documents

- corporate directive to lower overall costs

- need for better cash management

- difficulty finding or managing archives of paper-based documents

- need to reduce risk of fraud and abuse

- inability to capitalise on early payment discounts

Strategies for improvement:

- automate the IR&W process

- integrate e-payables solutions with other systems

- centralise A/P IR&W processes

- standardise IR&W processes

- conduct internal assessment of current A/P capabilities

- use data analysis to identify high-impact improvement areas

- secure executive sponsor / champion for IR&W automation

Impediments to A/P automation:

- lack of internal support for change

- difficulty integrating IR&W solutions with other systems

- lack of supplier adoption of e-invoicing

- non-standard nature / multiple formats of invoices

- securing executive support for A/P transformation

- lack of automation of exception / discrepancy handling

Centralisation of key A/P processes:

- payment

- reconciliation

- PO issuance

- scanning

- indexing

- approval

- receipt

To achieve best-in-class performance, companies must:

- gain a clear picture of the current state of their A/P departments.  Review policies and performance, consult with functional counterparts, and discuss improvement opportunities with top suppliers

- improve and expand performance measurement.  Lay the groundwork now for increasing the data available for management to make strategic decisions regarding competing areas for improvement, and set a benchmark against which to measure future results



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