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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 […]
Read FullBack Office Word of the Week – 9/16/19 Vendor Management (sometimes called Supplier Management) is the process by which a buyer formalizes a relationship with their vendors and suppliers and manages that relationship through its lifecycle. The first step in a Vendor Management is typically procurement, where a buyer sources and negotiates a contract with […]
Read FullWorkflow Workflow, sometimes referred to as Business Process Management (BPM), in the accounts payable world, is the required tasks needed to approve a payment to a vendor or creditor based on a predetermined set of rules. These rules can range from highly complex to fairly simplistic depending on the nature of the AP process. These […]
Read FullData Capture Is the process of “capturing” and converting information from documents (paper or electronic) into a form that can be handled electronically, and preferably with little or no human intervention. In an Accounts Payable (AP) environment this information is extracted from invoices of varying formats and file types so the invoices can be processed […]
Read FullVENDOR SELF SERVICE Vendor Self Service is a benefit of Vendor Portals and Supplier Portals. Vendor Self-Service Portals allow a vendor to provide and access information without intervention from the buying company. This data may be necessary for vendor onboarding, compliance or payment or may be the results of payment status or payment dispute inquiries. […]
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