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More and more companies are tracking their companies “diverse” vendor population and reporting on purchase percentages and total spend dollars with these diverse vendors. In these current times many companies have redoubled their efforts, or started new initiatives, to insure their organizations have diversity within their vendor and supplier populations. For starters, it is important […]
For many organizations obtaining and sharing critical supplier information between different functional areas can be a frustrating task. Siloed organizational structures, disparate systems that don’t communicate with each other and differing business objective are factors that contribute to this situation. In fact, other key areas that have a stake in supplier relations such as supply […]
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Celebrate your associates and peers this Accounts Payable Appreciation Week! AP week 2020 is different from the others as all of our day-to-day activities are different than they have ever been. Many of our friends, peers, and associates are working remote or in scaled down operations. They are the lucky ones! So many in the […]
Single-tenancy can provide some of the benefits of a private cloud and public cloud. The infrastructure is still maintained by the cloud service provider and the application by the solution provider, but the major difference is the application is designed for your company, to meet the needs of your individual process.
In this new social distancing world, push non-value add tasks back to your vendors. Vendor self-service is hardly a new concept, it has been gaining traction steadily, especially with larger companies. Using the many procure-to-pay tools and systems in the marketplace companies can reduce costs and gain efficiencies by pushing non-value add activities out to […]
A couple months ago, people shook hands and the Tiger King was a golfer. The world has changed, sophisticated companies need to adapt in order to survive. Back office environments have been forced to shift to a remote work force. Throwing bodies at an antiquated process will not lead to success. In order to lower […]
“Suppliers who can submit invoices through electronic means generally can get paid faster and experience less payment issues from keying errors in the buyers AP department,”
Today as cloud based applications are becoming more ubiquitous, AP automation, including many of the sophisticated technologies that were out of reach in the past, has become more affordable and available to many more companies.
As we are all coping with the new realities the COVID19 pandemic has created we also must start to look towards the future. While we are certainly going to enter a recession, the depth and length of such a downturn to our economy is unknown. What is known is that as we come out of […]
