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We recently began a series entitled “What Gets Measured Gets Improved.” We discussed the importance of metrics or Key Performance Indicators in order to make improvements—actual, tangible improvements. In fact, the accounts payable process is no different. We started our series by listing the 1st KPI in the Accounting/Finance world: Number of Invoices Per Person / Per Day. In ...
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There’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 ...
Did 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?
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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Did You Know?In a recent survey of over 300 AP professionals, 47% considered manual data entry & inefficient processes as their biggest AP challenge.
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.
More →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:
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 ...
Mitigate Uncertainty On Both SidesBy 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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Drive Cost Savings with AutomationThe 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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Strong 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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Trends Driving Payments Today
Drive Cost Savings with Automation
Collaborate ...
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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