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Best Practice

Purchase to Pay - Why Procurement, Treasury and Finance Need to run on the same track

If you've happened to go to any conferences covering Purchase to Pay (P2P) recently, it’s likely that at some point you’d have heard, or taken part in a discussion about the extent of collaboration between the different areas of finance, Accounts Payable (AP) and procurement. It should be obvious that if, as an organisation, you’re trying to increase efficiencies, and are perhaps in the process of better P2P workflow implementation - that the different areas of purchase to pay should function well, interact well; cross-department.

What does your perfect invoice look like?

What does your perfect day look like? The likelihood is, that your answer is going to depend on what type of person you are. However, it’s also likely that your day will share a set of common values – you’ll feel happy, at ease, with an overriding sense that all is as it ought to be.

Performance Metrics - What's the Story?

Where There's AP, there's Paper

When a never ending flurry of paperwork continues to fall on a supposedly “paper-free” Accounts Payable department and someone mentions making better use of performance metrics, AP professionals would be forgiven for dismissing them as something they simply don’t have the time for. However, with the inception of automated software, their implementation can save time, add value, increase efficiency and,  if used with outcomes in mind from the start, can raise the game of the Accounts Payable function.

Top Tips from Award Winning Teams

vision-success-paidWith the UK economy still struggling its way out of recession, it’s no surprise that more than 50% of finance professionals have highlighted difficulties in achieving their targets - pointing to a lack of time or resources available to deliver them. For many “doing more with less” presents itself as a tough reality with a very precise impact on daily activities and results. Yet, despite broad variations in industry and organisation size, many of the teams who were winners and finalists in the APN 2013 AP awards were able to achieve success by following a similar set of processes. Here are some of their top tips: