Guest article by Marie Simpson, AP Project Manager, Dairy Crest
Updated 12:39 PM, Apr 22, 2021
EInvoicing & Automation
However – do not believe all the spiel that this is going to be the saviour of the business and that you can reduce your AP team drastically. At least not before you have processes and policies embedded!E-Invoicing - Some organisations just don't get it
Some organisations get it. They fully recognise the potential e-invoicing has to transform their business. Others, quite simply, don’t. Those in the second camp see e-invoicing only as a potentially faster way of paying suppliers, but with added implementation and process change costs, and anyway they're quite happy the way things are – so push it to one side.
In AP automation - one size does not fit all
Accounts Payable automation solutions come in a variety of shapes and sizes, ranging from raw technology (capture, workflow) to purpose-built solutions, applied to sub-processes or the end-to-end process, including purchasing. During the adoption process, companies typically identify the focus of their automation initiative (what is slow and cumbersome, error-prone, or costly), research vendors of proven technologies, including delivery and support. Once the solution is selected, next is the implementation process, deployed according to organisation’s specifications. Beyond insuring that the solution is appropriate for a modest increase in the volume of invoices processed, there is little focus on how the solution will need to evolve in the future.
Predicting the Future of AP Automation
Guest article by Dermot McCauley, VP BPM & Case Management, Kofax - a Lexmark Company
A modern financial system is the foundation for automation. Complete accounts payable automation solutions are a relatively new product category for financial operations professionals. Advanced technologies such as mobile, social networking, and intelligent dashboards are very slowly being integrated into offerings and adopted by enterprises.