For today’s businesses, achieving operational excellence is a top priority to remain competitive and agile — but it’s often easier said than done. The struggle to maximize productivity and increase customer experience ratings, even when business is hectic and growing, is real. Which is why companies turn to document processing automation when any of the following scenarios occur: Read more
The pressures of today’s global economy have forced supply chain functions to play a more direct and strategic role in reducing costs, improving the customer experience, and driving added value throughout the organization. Naturally, supply chain leaders now have a significantly higher rate of interest and involvement in order management initiatives. Read more
The increased adoption of electronic invoicing along with solutions for front-end imaging, approval and exceptions workflow has prompted some analyst firms to predict that we are approaching the era of collaborative commerce. As a result, an increased number of suppliers will submit invoices electronically and more businesses will adopt cloud-based and mobile-enabled invoice processing solutions. How do you join the era of collaborative commerce and reap the competitive advantages of automated accounts payable (AP) invoice processing before becoming a laggard in your industry? Read more
EDI Bomb-Out! EDI Exception! EDI Workflow Error!
No matter what your company calls them — bomb-outs, exceptions, workflow errors — if there’s one segment or portion off in an EDI order, it will fail. Failure is not pretty and typically not fixable without IT intervention. Until you’re able to get your customer to update their data (good luck with that!) you’re stuck fixing the same exact problems over and over with each EDI order. Read more
Customer Service and Supply Chain leaders are rapidly realizing there are tremendous cost savings, productivity gains and positive customer experience effects to implementing an order processing automation solution. As with any investment, there’s also risks and up-front costs to get the project off the ground. How do you know the benefits will outweigh the costs and calculate ROI? How do you know you can trust those calculations?
Esker commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential return on investment (ROI) enterprises may realize by deploying Esker’s Order Processing automation solution. The purpose of this study is to provide a framework to evaluate the potential financial impact and help organizations determine if an order management solution is a viable option. Read more
Quitting paper might sound like a lofty, semi-unrealistic goal for a business — especially depending on your industry and senior management’s philosophies. But even if you start small (e.g., keeping your inbound and outbound faxes electronic) you’re sure to reap some major benefits that will establish a foundation to propel more and more progressive projects throughout your company. 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.
Your company could be a highly established brand with an insane amount of recognition, or your local business might just be starting to climb the ladder as a leading expert in your trade. Regardless, one thing is for sure, a strong marketing strategy is the key to success. It’s something you have to work at consistently and constantly be on the lookout for new ways to spruce it up, keeping ideas fresh and tactics effective, but more importantly, it has to make people say, “I’m going to side with this guy, not the competition.” So what are some of the best ways to go about changing your dull marketing strategy into a victorious one? Transform your marketing game with these easy steps!
1.) Build a modern sales marketing team.
Why leave all the work to one person when you can divide multiple roles to different employees to achieve more in less time? Know of someone with impressive experience in search engine optimization? Let them manage it! Have a someone cover data-based analytics and operations. Establish a talented content writer, a webmaster, and a leader to hold it all together and you’ve got yourself grade-A team! Read more
Dealing with accounts payable is a true challenge for accounting departments, especially in a time when business finances are more complex than ever. Even so, you may still insist on using paper for accounts payable procedures since it’s something you and your staff have always done. After doing the same procedures for years (or decades), it can become hard to make a change.
If you’re starting to notice more mistakes in your finances, you shouldn’t assume it’s going to get any better. As your business grows, more complexities may start to arise in orders and payments. Relying on a paper-based system only leads to major problems that can lead to internal blame games and downtime. Read more
Increasing the bottom-line, rapid ROI and increased visibility are typical reasons we see the c-suite get excited about moving away from a manual-based workflow, but what about the end-users? Why do customer service representatives (CSRs) and AP clerks get just as stoked about automation solutions?
Historically, they haven’t! They fear their jobs are at risk. But when end-users are a part of the project rollout and development, they realize the pains tied to manual workflows and get excited about the potential amount of time that can be dedicated to value-add responsibilities.
Here are the top 3 reasons manual workflows need to be addressed, from an automation end-user’s perspective: