After the most recent recession, we began to observe a change in the advice coming from some large Analyst firms. The phrase “cash is king” took on greater meaning. Buying organizations is now more likely to be encouraged to extend standard payment terms, as financial markets place value on seeing more cash reserves and longer Days Payable Outstanding (DPO). I bet you know a customer that has extended their terms … Read more
Accounts payable (AP) is traditionally seen as overhead. Most organizations have a negative view of accounts payable. I can’t tell you how many times I’ve heard: “You people never pay the supplier on time”. In reality, it is the process that is broken and AP is just the last step in a very chaotic buying process. It is also because most AP organizations focus on being the best invoice processor. That is what AP does, but it is not APs mission/vision. Read more
2016 has brought a lot of optimism back to the construction industry. With Data & Analytics’ 2016 Construction Outlook report predicting 6% growth, many organizations are seeking ways to manage the increased demand. Automation is a growing trend because it helps to foster both efficiency and productivity. When you need to enhance operations within your construction business, it is important to learn how automation can be of benefit to you. Read more
Though Esker may deserve the honor, we won’t take to the stage while the National Anthem plays. Rather, we’ll gladly accept the accolades, as we already have from many clients throughout the globe using our services to automate their document process. With so many advantages to adopting Esker’s document process automation solutions, companies can’t avoid seeing gold once they eye the results. Read more
Madison, WI — August 16, 2016 — Esker, a worldwide leader in document process automation solutions and pioneer in cloud computing, today announced that the Swedish-based ASSA ABLOY Group, the world’s largest lock manufacturer, is moving to Esker’s cloud-based order processing solution after initially implementing Esker software on-premises in 2010. Adopting an on-demand model will allow ASSA ABLOY to gain the same workflow efficiencies it previously achieved with Esker, with the added benefits of eliminating on-premises licensing and maintenance, simplifying user training and on-boarding, and enhancing visibility via customizable dashboards. Read more
Madison, WI — August 15, 2016 — Electro-Matic Products, Inc., a leading supplier of high technology automation components and services, recently announced its agreement with Esker, a worldwide leader in document process automation solutions and pioneer in cloud computing, to automate its order management process. Esker’s cloud-based order processing automation solution will integrate with Electro-Matic’s existing Prophet 21 ERP system.
Recently I realized that there was a certain something missing from my blogs. Sure, they familiarize readers with Esker’s solutions, but what about Esker?
Ultimately, understanding a vendor’s values, history and achievements can provide insight to the future success of a joint endeavor.
Call me bias, but Esker’s got more than a few reasons to brag — and I’ve got no problem doing it. Read more
After attending the P2P Certification Training through the Institute of Finance & Management (IOFM) last week, I realized there were a lot of assumptions I had about the accounts payable (AP) function that were flat-out wrong. Here’s my quick list of what I thought I knew about accounts payable:
Accounts payable is invoice entry
Judy Bicking, a 30-year veteran Global Shared Services Manager at Johnson & Johnson, led the training and her manta is “Accounts payable is not invoice entry. Accounts payable is about mining data off the invoice and using that data to help make strategic cash decisions.” Accounts payable is the frontline for fraud prevention, elimination of maverick spending through spend management and maximizing supplier discount opportunities. All of these functions require much deeper analytical skill than just invoice entry and bring direct business value.
Adoption of Esker’s business process automation solutions improved cash conversion cycle and customer experience leading to recognition
Madison, WI — August 2, 2016 —Parts Town, a leading parts distributor in the foodservice equipment market, was named the AR & O2C Spotlight Awards’ Order-to-Cash Department of the Year winner. Hosted by The AR Network (TARN), the inaugural awards are an expansion of the Institute of Finance and Management’s (IOFM) Spotlight Awards and recognize noteworthy achievements and outstanding efforts in financial operations. Read more
In the National Football League winning the Super Bowl is the ultimate goal for 32 teams each year. As Vince Lombardi once said, “Winning isn’t everything, it’s the only thing.” That quote not only holds true with sports but in business as well. Like other high stakes industries where any competitive edge counts, professional sports teams have been organizing analytics departments to assist with their decision making. Read more