Automation

It may be difficult to fully appreciate how limited a paper-based system can be until you become aware of the advantages of a paperless electronic purchase order system.

An electric purchase order solution makes it possible for businesses to send and receive purchase orders (PO) electronically over the network, enabling electronic processing from purchase to payment.

Electronic purchase orders that originate within a company's e-procurement or ER… Read More

Significant operational improvements can be achieved in AP and purchasing by standardizing and automating the procure-to-pay process. Automation results in better financial controls, lower costs of products, reduced overhead, and better relationships with operations staff and vendors.

Let's start by taking a look at manual processes and outlining the advantages of reengineering and automating P2P:… Read More

In the last part of this series, we discussed the importance of assembling a team of people from every single department that touches the P2P process, even those on the periphery, like technology and human resources. This team will map the overall process from start to finish.

Figure the Costs

Read More

After a detailed process map has been created, costing should be done for each step. This facilitates weeding out processes that cost more than they yield
Last time, we discussed how AP can improve its relationship with procurement by positioning itself as a business partner, ensuring that vendors are not on the SDN list of barred entities, collecting and vetting all proper tax forms, and establishing accurate payment information up front. These steps will ensure that when it comes time for procurement to do its job and purchase something, there will be no issues.

Read More

We also talked about approaching u

In part 3 of this series, we covered the need for aligning AP, Finance and Purchasing before attempting any automation initiative. This necessitates AP taking on a greater leadership role by collecting metrics to help identify bottlenecks and broken processes, all of which can torpedo automation.

Read More

Here, we’ll discuss how to build on that momentum to deepen AP’s strategic role within the organization to prepare for when automation begins to ta

In Part 2 of this series, we discussed how important it is to clean up messy, catch-as-catch-can processes in AP before attempting to automate. Because AP is the last touchpoint in a long chain of potential inefficiencies, trying to automate AP without addressing the larger organizational problems can doom any such initiative before it even gets off the ground. But where to start?

Step 3: Aligning AP, Finance and Purchasing

Read More

It probably is no gre

In Part 1 of this series, we began to discuss the pitfalls of AP automation, and why so many organizations struggle with these implementations. The fact is, the difficulty usually comes not through lack of effort and initiative, but rather arises from the fact that AP comes at the end of an often-chaotic purchasing process.

Read More

Often siloed from purchasing and other parts of the organization, accounts payable may be isolated, forced to deal with mes

Part 1: Exactly What Is the Problem Here?

You’ll read about automation as the magic bullet for everything that’s wrong with accounts payable. It’s supposed to speed up processing and save costs, the two main goals that AP is usually tasked with. And yet, implementing an automation solution without first digging deeper to fix problems at the root will likely result in significant disruption, and may even make things worse.

Why Is This?

Read More

It’

By Pam Miller, APMD

When getting ready to implement a new process or system, we often run the old and new processes or systems in tandem. Sometimes this takes the form of a pilot or a test project and sometimes we run systems in parallel to ensure that if there are any issues with the new process or system we can revert to the old one and still get the job done.

While this is a good safeguard, it’s important to commit to making the swit… Read More

Read More

Benchmarks, best practices, and the keys to compliance — all at your fingertips 24/7.

Members of the AP & P2P Network have anytime access to hundreds of tools, templates, policies, checklists and calculators for every area of AP & P2P — plus exclusive benchmarking metrics, critical compliance updates and much more. In short, they’ve discovered that membership keeps them working smarter, not harder.

Support

Answers to your tough questions

Online Training

Educational resources to boost your career

Networking

Connect with your peers in AP & P2P

Tools

Time-saving templates, calculators, checklists and more

Keeping Ahead

The latest research and trends

Information

Critical compliance updates and deadlines

Benchmarking

Exclusive research and metrics to guide you and your team

Time & Money

Save time and avoid costly penalties