The
payables side of the equation needs to be strategically managed to take advantage of discounts where appropriate, while extending certain payments to non-strategic suppliers.
The Trade
Payables program provides suppliers with an unsecured, low-cost source of financing, which reduces the need to use existing credit lines to fund working capital requirements.
With Emergis e-Invoicing for
Payables, companies can eliminate manual data entry while improving process efficiencies with online collaboration tools and dispute resolution -- in effect, providing a centralized view of where invoices are in the workflow for both buyers and suppliers.
During 2005, AberdeenGroup researched over 1,250 accounts
payable programs.
Accounts
Payable Internal Control Manual and Checklists -- includes specific internal control policies for more than a dozen processes, along with templates for creating a Code of Ethics and Sarbanes-Oxley Management Report, an internal controls check list and risk assessment checklist.
Accounts
Payable labor reductions (25% - 41% reductions)
The Aberdeen Group's research uncovered that organizations that address and deploy accounts
payable technology solutions holistically across four key elements of the invoice reconciliation and payment solution framework realize substantial benefits, including reductions in invoice processing costs, and accounts
payable labor, as well as on-time payment improvements and greater early-payment discounts.
The launch of our ePayables software positions PurchasingNet as the only e-procurement provider that truly offers a complete procure-to-pay solution, linking a company's procurement,
payables, and treasury goals," said Tim McEneny, co-founder and CEO of PurchasingNet.
As part of the agreement, DICOM has begun implementing Kofax Ascent for
Payables, an accounts
payable (AP) solution, across Carrefour locations in more than 20 countries on three continents (Europe, Asia, and South America).
The report, "Harnessing
Payables to Capture A Second wave of Procurement Savings" demonstrates that companies which embrace a strategic, functionally integrated approach and successfully integrate e-invoicing, electronic payments, p-card and validation and reconciliation automation solutions will reap incremental savings of 2% to 17.
Open Text and PeopleSoft products, when integrated, will offer customers a document management solution that better manages the large volumes of content that flow through their PeopleSoft Enterprise
Payables application," said Cynthia Pavana, Financial Management Product Manager for PeopleSoft.
Ascent for
Payables and VRS (VirtualReScan) Technology to Handle
