Accounts Payable Health Check

How do you streamline

the accounts payable process?

Situation:

As a senior financial executive, you probably recognise invoice processing as the single most paper-intensive, people-intensive, and error-prone activity remaining within your organisation today. Streamlining your Accounts Payable process presents a clear opportunity to reduce cost while improving both cash management and supplier relationships.

Critical issues:

Like many organisations, you likely have some or all of the following challenges:

High cost of invoice processing (i.e. low invoice/FTE ratio; high cost per invoice).
Sometimes paying invalid, duplicate, or unsolicited invoices.
Added cost due to late payment fees and/or missed opportunities for early payment discounts.
Difficulty effectively managing cash flow and budgets.
Strained supplier relationships in Accounts Payable.

Opportunity:

By gaining a clear understanding of the underlying causes of these issues, and then applying the right tools to address them, you can expect to:

Significantly reduce the cost of invoice processing by reducing manual handling.
Ensure proper payment by automating validations, PO matching, and approvals.
Reduce overall purchase costs by leveraging early payment discounts and avoiding late fees.
Improve cash management with greater visibility of invoice status.
Improve budget management by correctly allocating costs and providing better visibility of purchase commitments.
Strengthen supplier relationships with on-time payment and improved communication.