What Gets Measured, Gets Improved

8 Key Performance Indicators in Accounts Payable

180x103There’s an old saying, “What gets measured gets done,” or as many of you have heard, “what gets measured gets Improved.” Oftentimes we get so hung up on metrics and measuring things to the point that we sometimes lose track of measuring what really matters; however, we should be very careful about what gets measured. This reminds me of another old saying, “Not everything that counts ...

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Learn Why It’s Important to Streamline Business Processes

Did You Know?

rsz_hand_filling_out_formDid you know that a typical 10,000 employee company handles more than one million employee-related transactions a year at a cost of between $10 and $50 per transaction?

Source: ASUG/SAP Benchmark Study, “Human Capital Management: How Top Organizations Drive Company Profits Efficiently”

Let’s look at a very common scenario in the retail industry:

Let’s take a very common scenario in the retail industry: a local store manager compiles and mails his ...

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Manual Data Entry is Still the Biggest Challenge

no-data-entryDid You Know?

In a recent survey of over 300 AP professionals, 47% considered manual data entry & inefficient processes as their biggest AP challenge.

Source: PayStream Advisors, “Data Capture of Accounts Payable”

Powered by IBM’s FileNet and Datacap technologies, our user-friendly applications help enable AP professionals to stream line their AP processes, eliminate data entry and increase efficiency.

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Top Market Drivers for Payment Automation

Driving Profitability in a Traditional Cost Center:
the AP Department

According to the Aberdeen Group report, “AP Automation and Strategic Vision,” financial services executives surveyed cited 2 of their top 5 drivers compelling them to undertake payment automation as:

Percentages

Powered by IBM’s FileNet and Datacap technologies, our user-friendly applications help financial services executives
capure early payment discounts and shorten the supplier payment ...

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Engaging Vendors in the Process

VisibilityMitigate Uncertainty On Both Sides

By providing this level of visibility into the AP process, organizations give their vendors the ability to confidently forecast the amount and timing of each payment they are expecting. Concurrently, the company’s AP department gains a consistent, predictable revenue stream from the money saved by capturing the vendor’s discount offers. There are no hidden fees or administration hassles, and ...

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Monetizing Payment Efficiency

HandsDrive Cost Savings with Automation

The statistics regarding return on capital alone certainly make a compelling case for dynamic discounting, but how do organizations effectively capitalize on this opportunity? Traditional paper-based payment methods make it extremely difficult to capture the best discount rates in a dynamic discount framework, which are the highest within the first few days the invoice is issued.

The time it takes ...

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The Relationship Value of Dynamic Discounts

The Importance of Strong Vendor Relationships

RelationshipStrong vendor partnerships are a critical component to business success, particularly in industries where frequent and regular delivery of inventory is needed to sustain optimal operations, such as retail and restaurant environments. Buyers and sellers must have mutual respect and confidence in each other that foods will be received and paid for in a consistent, timely manner.

Dynamic ...

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Dynamic Discounting

The Bottom Line Value of Dynamic Discounts

dynamic discounts

 

Dynamic Discounting is a no-risk, high-reward solution for buyers, providing them a way to increase their case returns in a low-interest environment, while keeping their vendor relationship strong with a payment method that also creates winning scenarios for the seller.

Traditional early payment discounts reward buyers with a percentage off their bill if paid in net 30, net 60, ...

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Managing Cash in a Dynamic Market

dollarsignTrends Driving Payments Today

Interest rates have remained near zero for the last five years, causing organizations to look to new and different opportunities. In response to these market trends, a new approach to early payment discounting – known as dynamic discounting has arisen. This challenge is paired with the opportunities that have arisen from the explosive growth of digital business networks, causing the pace ...

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