I was reading through the latest issue of Financial Operations Matters and found this article” Are you ready for Lean AP?” which highlights some of the upcoming trends that are predicted for accounts payable automation in 2012. Some of the more interesting parts of the article include: Read more
Posts by Carrie Prince
Have an Accounts Payable automation project initiative? Before you get knee-deep in the vendor evaluation process, make sure you consider the option of using a solution that handles workflow outside your ERP solution. Why you ask? Well, even though you might think it’s good to keep the workflow inside your ERP, there are some benefits to actually having workflow take place outside the system. Read more
Looking to automate your accounts receivable invoicing process? Before you start looking at vendors, it’s a good idea to take a look at your process and map out exactly what sort of needs you need to address. So many times, companies know they need to automate customer invoicing, but don’t get into the details of exactly what they need until they’re knee-deep in with a vendor. Sometimes, this can mean they end up selecting a vendor that doesn’t fully meet their invoicing needs.
To avoid this situation happening to your company, here are a few questions you can use to scope out your current customer invoicing process and determine exactly what sort of Accounts Receivable automation solution your company truly needs.
Here’s something to add to your accounts payable resource list. If you’re looking to get a budget for your AP automation project, you should check out this new article “How to get the budget you deserve for all your AP dream projects” from the Financial Operations Network. So many times companies want to implement AP automation…but when it comes down to making a case to upper management to get the solution, they find it can be little hard to sell. This article teaches you to how to present your case to management, and is a great guide to help prepare you for your solution search. Read more
Streamlining your order-to-cash process might sound like a great idea and a good practice, but is it really worth it or feasible for your company? Well, truth-be-told, with the economy still a little shaky, it’s truly important to see if there are ways your organization can become more efficient and save money. Waste not, want not? Right? Read more
Feeling a little overwhelmed with hunting for the right Accounts Payable automation solution for your company? There are a lot of choices out there – many of which are looking to sell you the “dream solution”… bells and whistles included. But, is that kind of solution overkill for what your company truly needs? Read more
Well, maybe…but it’s definitely going to be a process. I was just reading this article from Credit Today (they just finished a benchmarking survey on electronic billing and payment trends), and within the last two years, it seems that the number of invoices sent via postal mail has decreased from 55.8% to 47.3%. While that’s a substantial decrease, it still means that almost half of all invoices sent out are delivered through snail mail. Read more
Many organizations have started promoting this idea in the past year, and it’s definitely gaining momentum. But really, what’s the biggest benefit your company receives from accounts receivable automation?
According to the 2014 Order-to-Cash Automation report, the biggest perceived benefit of accounts receivable automation improved cash management. This has changed from the previous year where fewer customer inquiries about misplaced invoices was the top perceived benefit. The shift in perceived benefits shows us that companies are viewing their accounts receivable department more strategically, and seeing how automation can not only benefit the AR department, but the organization as a whole.
I read this interesting article on CFO.com about how CFO’s are starting to lead the IT strategy in more and more companies, especially where cloud technology is concerned. Making a decision to choose a cloud solution, like a software-as-a-service application, places an emphasis on negotiating terms and conditions, as well as managing vendors and comparing prices – which, according to the article, might be better suited for a CFO skill-set. Read more