Category Archives: Electronic Invoicing

wrong216

Improve AP Performance BY MAKING KPIs COUNT 5/5

Percentage of Duplicate/ Erroneous Payments Payment errors—missed discounts, overpayments, duplicate payments, etc—can be quite common in the AP process, especially when the organization is dealing with paper invoices and check payments. Understanding what percentage of payments has an associated error—by looking through historical transactions—and identifying the cause of those errors—is essential for helping to reduce…Read More »


Discount Capture 160

Improve AP Performance BY MAKING KPIs COUNT 4 of 5

Percentage of Negotiated Discounts Captured A number of organizations negotiate discounts with suppliers for early payment, but often, many of them are unable to capture all available discounts. Tracking the percentage of discounts actually captured helps an organization increase discount capture, directly impacting bottom-line results. Understanding why discounts are lost and prioritizing the review and…Read More »


Time 160

Improve AP Performance BY MAKING KPIs COUNT 3 of 5

Time Taken to Process an Invoice Most companies do not know how long it takes to process an invoice from the time it is received to the time it is approved and ready to be paid. One reason it is difficult to calculate this metric with paper-based processes is because there are no date and time…Read More »


Paper

Improve AP Performance BY MAKING KPIs COUNT 2 of 5

Paper to Invoice Migration Example An international energy company was able to migrate 27% of its invoices from paper to electronic within the first month of implementing such a solution. Electronic invoice volume doubled in the second month and has been increasing ever since, with the company achieving its goal of 75% of invoices received…Read More »


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Improve AP Performance BY MAKING KPIs COUNT 1 of 5

In the world of accounts payable, “measurement” is critical to analyze performance and help increase operational efficiencies. This series of blog posts discuss the key performance indicators, usually referred to as KPIs, that AP departments are advised to track and monitor to improve the performance of their operations. Keep in mind that while the responsibility…Read More »


top 10

How Can You Tell it May Be Time to Move from Paper to Electronic Invoicing?

Do people walk into your office and see the stack of invoices on your desk before they see you? Are your suppliers tired of hearing the same old excuse “the check is in the mail” when they inquire about their payment status? Are your employees tired of keying invoice data every single day into systems…Read More »


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12.12.14 |

Zero Supplier Fees: Help Make it Easy for the Supplier to Participate

The supplier network is a big and critical part of any electronic invoicing solution. Success or failure of any accounts payable (AP) automation initiative depends heavily on whether suppliers join the network and start transacting electronically. Then how does it make sense to charge the supplier to send electronic invoices? Contrary to logic as it…Read More »


avocado

Comparing Apples to Avocados: Why Use an Expert to Automate Your Payables Operations

I recently read an article on the Purchasing Insight blog by Pete Loughlin titled “Back to basics – the difference between price and cost,” where he talks about price and cost using travel booking as an example. The article stated: “Booking your own travel is like fitting your own kitchen. An expert will get it…Read More »


P2P blog post image

P2P Best Practices: Engaging Suppliers in the Transition to Electronic Invoicing

While the potential benefits of electronic invoicing are widely known, getting suppliers to switch from paper to electronic isn’t always easy. To gain the increased efficiency, security and accuracy that can come from making this critical change, companies need to actively engage their suppliers. At a recent ADP user conference, several companies shared the best…Read More »


This way 160

We’ve Always Done It This Way, but the Time to Change
Can Be Now!

We commonly hear “we’ve always done it this way” when someone proposes a change. As a general rule, neither progress nor improvement can be achieved with this mindset.  There’s no denying that routine can feel comfortable and change can be tough, but we have to be open to change, especially when change means improvement.  Organizations…Read More »



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