As you may have heard, Bob Dylan recently received a Nobel Prize in Literature for, as the Nobel Committee put it, “having created new poetic expressions within the great American song tradition.”
He is the first musician to ever receive the prestigious honor. Read more
Wine and headaches have always had an infamous relationship with each other. Anyone with a few evenings of overindulgence under their belt can surely attest to this.
However, wine-related headaches aren’t always so literal.
Take world renowned company J. García Carrión, for example. As the undisputed leader in Spain’s wine and juice market, García Carrión recently endured a number of metaphorical headaches relating to its order management process. Read more
It was recently reported that the U.S. still runs its nuclear program using 8-inch floppy disks. You read that correctly. We’re using floppy disks … in 2016 … to manage the most dangerous weapons in the world.
As shocking as that news was, it should come as no surprise that individuals and institutions still rely on outdated and even obsolete technologies despite the fact that we’re already one-sixth of the way through the 21st century. We don’t like change.
Look at the business world: Accounts receivable (AR) is a prime example. (Ok, so keeping company cash flow positive isn’t nuclear-launch-code-important, but important nonetheless.) Despite often being the largest or second largest asset on a company’s balance sheet, the internal processes of many AR teams remain stuck in the past, particularly the component of collections management. Read more
Being raised by parents who were nature enthusiasts, our house never had a shortage of books or magazines about the great outdoors. National Geographic, Outdoor Life, Mother Earth News — you name it, we had it lying around.
One book that I’ll always remember was the Birds of Wisconsin Field Guide. Admittedly, I never paid much attention to it growing up — I was more of a reptile kid myself — but to my parents, it was their ornithological bible. Despite already knowing a ton about birds, they used it as a guide to distinguish similar looking species, attract more of their feathered favorites, and even dissuade “bad birds” from making their home in my parent’s backyard.
This got me thinking: Wouldn’t it be great if those in accounts payable management roles had a similar guide? Read more
Ah, yes … the New Year.
That wonderful time when we can’t help but look back on all the grandiose things we planned on accomplishing the year before but completely, shamefully, 100% did not.
It shouldn’t come as a surprise. Most resolutions fail because they weren’t realistic to begin with. I mean, seriously, did you really think you could go 12 months without consuming a single carb?
The trick is choosing something ambitious yet achievable, practical yet impactful.
For today’s businesses, making a resolution for improvement can be as easy replacing an underperforming piece of office equipment that only seems to make life harder year after year.
I’m looking at you, fax machines.
In the 2011 movie Moneyball, Brad Pitt plays Billy Beane, real-life General Manager of the Oakland Athletics, a small-market Major League Baseball (MLB) franchise.
The movie — based on the book of the same name — follows Beane’s revolutionary use of “sabermetrics” to assemble a team that could compete with richer ball clubs, despite operating with a significantly lower payroll.
Call it David’s plan to topple Goliath.
Rather than rely on the handful of archaic statistics used by baseball traditionalists for decades, Beane took a more nuanced and analytical approach to gauging player performance — finding value where no one before him had thought to look.
What does all this have to do with accounts payable (AP), you ask?
Based on recent survey results, it seems that the world of AP invoicing could learn some valuable lessons on analytics from the world of sports.
Everyone knows the importance of good customer service.
Not only does it ensure the satisfaction and continued business of your current customers, it’s also a catalyst for future opportunities — that coveted “x-factor” that can influence a prospect to select your company over a competitor.
Be good at customer service. Sounds pretty simple, right? Well …
A lot of businesses think they got the whole customer service thing down but don’t realize the costly mistakes they’re making. For example, even if your CSRs are exceptional at their jobs, relying on an outdated, manual or inefficient order management process still makes it virtually impossible to give your customers an optimal experience.
There’s no such thing as perfect customer service. However, by righting any of these wrongs, you’ll be sure to put an extra twinkle in your customers’ eyes.
Big decisions in life almost always boil down to finding the right fit. Where to work, who to date, where to live, etc.
Choosing an AP automation solution provider is really no different.
Think about it.
No matter how many fancy features or functionalities are promised, they won’t mean squat if the solution can’t actually work alongside your existing infrastructure.
With this in mind, users of MS Dynamics™ NAV have reason to smile.
When you’re a leader in the electronics industry, sometimes turning things up a notch just comes naturally.
Allied Electronics, a multinational distributor of industrial automation products and electrical/electromechanical components proved this to be true with today’s announcement — the company has signed on to expand its use of Esker’s Accounts Payable Automation solution to go beyond basic “scan and file” functionality to achieve fully automated AP.
Additional Accounts Payable Automation capabilities include:
- Automated workflow
- Intelligent data capture technology (e.g., OCR software)
- 3-way match verification
- Accrual reporting
- Automatic approvals
As a user of SAP® software applications, Allied expects this Accounts Payable Automation enhancement to not only improve the efficiency of loading invoices in SAP and monitoring them, but facilitate a lean-growth strategy moving forward.
Read the Press Release