Category: Accounts Payable

August 25, 2017

Senior management has agreed the company should implement an Accounts Payable Automation/Workflow system.  The key stakeholders have selected a project team and they are considering the products and providers available.  Excitement is in the air.  Automating the processes will save the Accounts Payable team a great deal of effort, will improve compliance to company business… Read More »

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August 8, 2017

An invoice is received from a vendor for goods or services supplied.  The invoice total also includes freight and taxes.  How does your Accounts Payable team address these costs? This can be one of the most significant obstacles when implementing an Accounts Payable Workflow tool. Although the provider of an automated AP Workflow tool can… Read More »

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June 29, 2017

One of the cost saving benefits an Accounts Payable Automation System provider will try to sell a Company is that Accounts Payable headcount can be reduced.  Be careful.  This topic can lead to a change management nightmare when implementing such a System.  Their knowledge of compliance, business and tax rules should be incorporated into the… Read More »

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June 6, 2017

Liaison – noun – A person who acts as a link to assist communication or cooperation between groups of people. Are you ready to implement an Accounts Payable Automation System?  Are you concerned your team might not have the knowledge or expertise to identify requirements as they pertain to all AP related business and compliance… Read More »

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May 23, 2017

  Accounts Payable Workflow Systems can automatically manage 2-way PO Invoice Matching and Routing to Approvers if the rules of a Company’s manual process can be documented and presented to a Provider for configuration in the System. As mentioned in the previous article, one of the first conversations a Company has with an AP Workflow… Read More »

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April 3, 2017

  The most significant benefit of Accounts Payable workflow is the automatic matching of PO invoices to the related Purchase Order and posted goods receipts details. By implementing such a system, a company could choose to allocate AP resources to more value-added tasks. The risks of matching errors would also be greatly reduced. If matches… Read More »

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February 23, 2017

As mentioned in prior articles, an Accounts Payable Workflow System can systemically apply business rules . . . but only if the system can “read” the details needed to do so. For example, an AP processor may know an invoice is from a Vendor that offers a Prompt Payment Discount because the terms are printed… Read More »

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January 27, 2017

Once a Company starts contacting Accounts Payable Workflow Providers, it enters the Potential Provider’s sales cycle. Listen carefully, ask detailed questions, and take notes. As expected, the Company will hear all the benefits of implementing that Provider’s AP Workflow System. A Company may walk away from such a conversation feeling like that system can process… Read More »

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December 28, 2016

If you were to create process maps for every type of invoice scenario your company has, how many decision blocks would there be? PO or Non-PO? 2 or 3-way match? Inventory or not? Sales tax due or not? Which Company or Location Code? How much decision making is an Accounts Payable processor responsible for? We… Read More »

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