Traditionally, discussions of accounts receivable (AR) focus on accelerating collections and driving down Days Sales Outstanding (DSO). What can get lost in this pursuit is a holistic approach to receivables management that looks beyond internal processes and addresses the customer's impact on AR success. This Insight builds on recent AR research (The Order-to-Cash Cycle: Enhancing Performance with Process Automation, July 2011) to explore the importance of customer relationships to managing the Order-to-Cash cycle.
- Top-performing receivables organizations minimize disputes and deductions, achieving levels 50% lower than Laggards.
- Best-in-Class companies lead the way with by accepting more electronic purchase orders, distributing more electronic invoices, and receiving more electronic payments than their competitors.
- Top-performing companies excel in the physical supply chain as well, achieving 95.2% on-time and complete deliveries.
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As midsized companies have embraced enterprise resource planning, or ERP, to maintain their competitiveness, they have quickly learned a fundamental truth: technology can move a company forward only as far as its business processes allow. The technology's effectiveness is inhibited, by the processes that feed data into the ERP system and the movement of that data across the organization.
In this white paper, you will learn:
- Why technology like Optical Character Recognition (OCR) and automated workflow can ease the transition to paperless ERP
- Why vendor and customer portals are key enablers to efficient business processes
- How to assess the value AP and AR automation for Microsoft Dynamics ERP
- Key organizational and operational best-practices for deploying automated document management
- The future of automated document management for ERP - beyond the accounting department
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Metafile recently launched a comprehensive white paper entitled, "Why a Critical Look at Accounts Payable Processes Makes AP and ERP Technology Work."
This white paper offers a comprehensive look at opportunities to empower and elevate accounting departments in all industries from task-completer to strategic and trusted advisor for the C-suite, including:
- Determining and evaluating the real impact of paper and process challenges
- Enabling intelligent automation in accounting to drive real efficiency
- Research from MSDynamicsWorld.com regarding the extent to which accounting professionals are using AP document management technology and prioritizing AP/ERP technology integration
- Methods for evaluating AP technology vendors' experience in enabling intelligent automation through AP/ERP technology integration
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For Accounts Payable (AP), the time is ripe for redefinition. Difficult economic times have heightened the need for cost-cutting efficiencies and have brought focus to the value (and current lack) of visibility into invoice and payment status. In a paper-based world, AP's ability to meet these challenges is severely hampered. As the economy continues its recovery and business volume picks up, leading companies will be those who pursue strategies to automate their back-office functions, opening up new areas for cost savings, cash managment, and improved supplier relations. This study explores how enterprises of all sizes can drive efficiency gains for automation, and how these improvements enable them to better pursue strategic initiatives. Click here to read the report.
The accounts payable function is becoming increasingly strategic to the overall enterprise, but a lack of technological maturity and reliance on paper-based documents and manual processing methods is impeding its evolution. The Aberdeen group conducted its latest study to provide an overview of the current state of accounts payable deparments, and focuses on improving the approaches enterprises take when handling invoice receipt and approval workflow. This is the first major step in the A/P process, and can be crucial toward driving this function's strategic value across business cost containment efforts. Read this complimentary report to learn compelling facts from the research, providing actionable benefits.
In the summer of 2008, Accounts Payable (AP) as a function and process appeared to be on the cusp of a broad-reaching transformation. Interest in and budgets for Accounts Payable were on the rise; the marketplace was ready for change. Instead, there has been more of the same; the arc of AP's trajectory diverted by the global credit crisis. In response to the ongoing economic challenges, many enterprises reprioritized initiatives away from AP transformation projects in 2009. But, with cost containment and cash management still at the top of the executive agenda, accounts payable professionals find themselves more-closely aligned with senior leadership than at any time in recent memory. And leading AP departments are prepared to deliver in 2010. In point of fact, these leaders are rising...rising to support executive goals, rising to new levels of perfomance, and rising in significance within the enterprise. Accounts Payable will rise in 2010. Read the latest Aberdeen E-Payables Benchmark Report: Accounts Payable Rising for more compelling facts from the research that provide actionable benefits for your organization.
The accounts payable function has risen to prominence in recent years as a back-office after-thought that can be transformed into a useful cash management mechanism. However, recent Aberdeen research has found that the majority of enterprises are still employing manual methods of invoice-processing, which has inflated both processing costs and cycle times. The E-Payables: Invoice Receipt and Workflow benchmark study, encompassing the intentions and strategies of over 130 enterprises, found that 75% of organizations are currently mired in a manual and paper-based rut in managing the initial phase of the accounts payable process. Read this report to learn best practice strategies to automate your accounts payable process.
By supporting best practices in cash management, accounts payable departments are uniquely positioned to help offset the effects felt by today's economic crisis. Learn more today by downloading The Aberdeen Group's Benchmark Report "The CFOs View of Accounts Payable: Cash is King" sponsored by Metafile.
Find out what paperless document management can do for you with the Aberdeen Group's "The E-Payables Benchmark Series: Imaging and Workflow" report sponsored in part by Metafile.
Learn how to streamline your accounts payable process effectively -- increasing productivity, lowering costs and improving vendor relations through the implementation and management of automated workflow. In just 60 minutes, experts will provide you with the tools you need to move your office paperless. Sign up today and view the presentation when it's convenient for you.
PayStream Advisors Receivables Document Management report, sponsored in part by Metafile, creator of paperless financial automation solution MetaViewer, reveals appropriate strategies and solutions for effectively taking accounts receivables processes paperless.
In spite of indications of an economic recovery, executives continue to focus on trimming costs to stay competitive. This selection guide examines best practices from two angles: an optimization perspective, where AP processes are evaluated for suitability for technology support; and an automation perspective, where the right level of automation is determined for each process... Click here to read the report.
