Optimizing Procurement to Pay Strategies Blog
SnapAP Blog curates and offers comments on what is next in the growing automation of business management practices
in supplier procurement, relationship enhancement, and accurate payment of invoices.
SnapAP editors identify emerging best practices and amplify the trending use of technology for overall gains in efficiency from digital automation.
Accounts Payable Problem #6: Long Cycle Times
A recent study concludes that nearly 70% of businesses still rely on a physical mail delivery of invoices, purchase order and payment by cheque. This cost burden continues despite the growing knowledge that processing a paper invoice in volume is [...]
Accounts Payable Problem #5: Lack of Transparency
Today, it is common to see a negotiating team achieving consensus on a deal and then everyone involved in the collaboration to get the deal stand and share a fist pump or high-five palm slap. It is a symbol of [...]
Accounts Payable Problem #4: Lack of System Integration
System integration is so much more than bright coloured cables plugged into network devices because it is the application data that needs to be quickly shared and push-pulled into one final assembly of critical management information. Business performance information that [...]
AP Problem # 3. Lost Paper: Lost Time & Productivity Sink Hole
The continuing problem of too much paper to find and match for supplier invoice processing for payment is replaced by a completely electronic dashboard screen to go digital and become paperless. Integration of purchasing costs with financial accounting program to [...]
AP Problem #2: A Solution to Poor Supplier Relationships
Benefits of Implementing a Digital Procurement to Pay Platform: This is the second post in a series exploring specific solutions available to the many problems identified under the heading of AP Problems. First in the series is AP Problem #1: [...]
AP Problem #1: Get Your Payables Process Right, the First Time
Problem-Analysis-Solution for Defect Rate Reduction: When defects in your payables process rob your productivity and threaten the efficiency of your accounts payable department, then it is time to consider how to reduce your company’s defect rate on invoice processing. AP [...]