P2P

When AP practitioners discuss improving P2P, the conversation almost invariably focuses on automation. Which technology would accelerate how quickly we: scan invoices, match the invoices to POs,… Read More

IOFM Series: Mitigating the Risk of Procure-to-Pay Improvement—Part 3

Phase #3: Are You Ready to Automate?

Step 5 — Considerations Before Investing in New Technology

One of the most common, and expensive, mistakes made when trying to improve procure-to-pay is… Read More

IOFM Series: Mitigating the Risk of Procure-to-Pay Improvement—Part 1

Phase #1: Know What and How You Execute P2P

Step One: Define the Problem

Improving procure-to-pay (P2P) isn’t just about squeezing out costs or freeing up time. Poorly run processes can damage… Read More

IOFM Series: Mitigating the Risk of Procure-to-Pay Improvement—Part 2

Phase #2: Standardize and Specify How the Work Gets Done

Step 3: Standardize Roles and Responsibilities

Identifying how the process should run, and by whom, is crucial to driving improvements

Is Capturing Vendor Discounts Your Priority?

When AP departments are able to process payments quickly and accurately, they not only keep management and vendors happy, they can also garner valuable discounts from their vendors by paying… Read More

How Accounts Payable Automation Delivers Benefits Across the Corporate Enterprise

More businesses are focusing on ways to increase their profit margins and net incomes. One strategy for accomplishing these goals may surprise some people: Accounts Payable automation. The

6 Critical Components of a Successful Purchase-to-Pay Initiative

More businesses are automating their Procure-to-Pay (P2P) processes end-to-end to improve visibility and control over cash flow and to help drive corporate growth than ever before. P2P automation is

Business Networks Come of Age: How Technology is Delivering Strategic Benefits Across the Procure-to-Pay and Order-to-Cash Worlds

How_Technology_is_Delivering_Strategic_Benefits_Across_Procure-to-Pay_&_Order-to-Cash More global trade and commerce is conducted electronically than ever before. At the center of an increasing number of these transactions lies a business network that facilitates commerce between

What Do We Mean By the 'Expenditure Cycle?'

By Pam Miller The concept of the “expenditure cycle” has been discussed and studied for many years in textbooks—even though many of us have never heard the term. At its most basic level, the… Read More

Promoting Process Alignment and Cooperation Between AP and Purchasing

By Pam Miller, APMD

Things are humming along—invoices are being processed as efficiently as possible when, wham, no vendor in the system! Efficiency vanishes when this exception has to be processed… Read More