A Checklist for Developing a Future-Proof AP Organization

A Checklist for Developing a Future-Proof AP Organization

Transforming the accounts payable process delivers indisputable value in the form of reduced transaction costs, traceability and increased control over payment timing. Data from The Hackett Group’s most recent Purchase-to-Pay Performance Study shows that organizations with high levels of AP automation save 54% on invoice processing costs and use one-third as many internal employees. However, top-performing organizations don’t focus solely on process automation. Rather, they take a multifaceted approach – one that includes centralizing invoice receipt, digitizing all information, optimizing internal resources, and carefully balancing processes managed in-house with those that are outsourced. Recently, top performers have begun to focus on adding capabilities designed to deliver additional value, such as mitigating invoice fraud, enhancing quality and compliance, and increasing working capital value from the financial supply chain.

More from Ivalua

Case study
When crisis strikes, you need to act quickly. Even in normal times, successful procurement transformations need a strong start, to deliver measurable value, realize a ROI and gain support for further improvements. At Ivalua, we believe you shouldn’t have to compromise between rapid value and being able to expand to meet longer term goals. Our Spend Management platform empowers you to transform FASTER and FURTHER.
Whitepaper
If we’ve learnt anything from 2020, it is that we can’t predict the future. The emergence of COVID-19 sent shockwaves through supply chains, and saw businesses become much more reliant on procurement teams to help mitigate the impact. For some teams, this was easier said than done. A lack of digitalisation in procurement hindered their ability to find solutions.
Whitepaper
Unlock the full potential of your spend and supplier relationships to build a competitive advantage