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WHITE PAPER: INTEGRATING PROCESS AUTOMATION TO ENHANCE OPERATIONAL PERFORMANCE

EXECUTIVE SUMMARY
Paper invoices and manual processing continue to hamper accounts payable operations, keeping suppliers in the dark and failing to give finance the visibility it needs to actively manage the organizations’ cash positions. This study, conducted during March and April of 2011, profiles 130 enterprises at varying stages of AP maturity to identify what differentiates those achieving the greatest results from their less successful peers. The end goal, and the target of their automation efforts, is to drive savings through discount capture, penalty avoidance, and lower labor costs – all while improving the speed with which they can access payables-related information.

Best-in-Class Performance
Aberdeen used the following three key performance criteria to distinguish

Best-in-Class companies:
•  3.8  days to process a single invoice
• $3.09 average cost to process a single invoice
• 4.1% year-over-year increase in early payment discount capture
 
Competitive Maturity Assessment
Survey results show that the firms enjoying Best-in-Class  performance shared several common characteristics. When compared to
Laggards, for example, they are:
•  2.4-times as likely to have invoices archived in a central,  searchable location
• 1.9-times as likely to have automated matching of invoices to purchase orders
•  4.1-times as likely to have dashboards summarizing current AP status and performance

Required Actions
In addition to the specific recommendations in Chapter Three of this report, to achieve Best-in-Class performance, companies must:
• Quantify the potential impact of automating AP processes to make the business case for investment
• Focus on strategies for maximizing supplier collaboration through incentives, facilitating technologies, and effective on-boarding
• Look beyond accounts payable to maximize benefits by integrating with procurement, finance, and other back-end systems

Download the full white paper below.....
accounts_payable_best_in_class_white_paper.pdf
File Size: 528 kb
File Type: pdf
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  • HOME
  • ACCOUNTS PAYABLE AUTOMATION
    • AP INVOICE SCANNING >
      • MAIL PROCESSING
      • AP INVOICE OCR
    • TOUCHLESS AP PROCESSING
    • PURCHASE ORDER MATCHING
    • ELECTRONIC PAYMENT PROCESSING
    • ERP INTEGRATION >
      • EPICOR INTEGRATION
      • INFOR INTEGRATION
      • JD EDWARDS INTEGRATION
      • LAWSON INTEGRATION
      • MS DYNAMICS 365 AP AUTOMATION
      • MS DYNAMICS GP AP AUTOMATION
      • MS DYNAMICS NAV AP AUTOMATION
      • MS DYNAMICS INTEGRATION
      • MEDITECH INTEGRATION
      • ORACLE INTEGRATION
      • PEOPLESOFT INTEGRATION
      • QAD INTEGRATION
      • SAGE INTEGRATION
      • SAP INTEGRATION
      • AS400 INTEGRATION
  • ACCOUNTING SYSTEMS
  • WEBINARS
  • GLOBAL SOLUTIONS
  • BLOG
  • RESOURCES
    • SOC AUDITED CONTROLS
    • FAQ's
    • NEWS
    • PARTNERS
    • WHITE PAPERS >
      • THE DECISION TO AUTOMATE ACCOUNTS PAYABLE
      • NOW IS THE TIME TO AUTOMATE ACCOUNTS PAYABLE.
      • WHY IMPROVE ACCOUNTS PAYABLE
      • PAYBACK & ROI
  • CONTACT
    • SUBMIT RFP
    • SUPPORT
    • ABOUT
    • GDPR >
      • PRIVACY ACCEPTABLE USE POLICY
    • CAREERS