- Decrease processing time
- Reduce errors & duplicate payments
- Utilize spend analysis
Brought to you by The Accounts Payable Network and Corcentric
today to receive a complimentary copy of The Evolution of the Procure-to-Pay Process: Out of the Back Office and Into the Cloud!
The procure-to-pay (P2P) process is evolving from a series of isolated and mostly clerical purchasing and accounts payable functions to a single end-to-end automated process that brings efficiency, visibility, control and contributes to the operational and financial success of the organization. Organizations have realized that each dollar saved to the bottom line is equivalent to four to five dollars in new sales. They have also found the hidden value that the AP process, as a key component of the P2P cycle, can bring to an organization in cost-saving opportunities and process improvements. These cost-saving opportunities and improvements are gained by process improvements made possible largely through automation. Automation also brings visibility to the P2P cycle and can provide increased cash flow and improvements to working capital.
This no-cost report will show how automation can help organizations:
- Utilize procurement spend analysis by automating reporting solutions that provide timely access to accurate data
- Achieve total end-to-end costs of under $1.50 per transaction, with savings dropping straight to the bottom line
- Shrink time spent manually handling invoices and workflow processes
- Reduce errors and duplicate payments by reviewing and matching invoices without the need to key in the data
- Improve visibility and controls throughout the P2P cycle
- Decrease processing time by moving invoices and other items through the systems at a fraction of the time that paper processing takes – allowing organizations to take advantage of early-payment discounts
- Identify and consolidate volume spend to allow for better contract negotiation and pricing
- Develop a business case to generate support, participation and management commitment to turn an automation proposal into a reality
- Free up staff to handle more value-added processes such as vendor maintenance or cost analysis
- And, much more!
About The Accounts Payable Network
The Accounts Payable Network
is the world's leading resource for objective insights into virtually every area of accounts payable: productivity, performance, controls and compliance. www.theaccountspayablenetwork.com
Corcentric is a leader in financial process automation, specializing in accounts payable automation, PO requisitioning and imaging, and workflow solutions. By creating a paperless conduit between Procurement, Accounts Payable, Accounts Receivable, and suppliers, Corcentric allows companies to immediately manage 100% of their invoices electronically. Our cloud-based (SaaS) architecture allows for solutions to be configured in days rather than months for rapid return on investment.
Corcentric was founded in 1998 and is headquartered in McLean, Virginia with offices in Cherry Hill, NJ; Oakbrook Terrace, IL; Coral Springs, FL; and Saddlebrook, NJ. More than 3,000 companies rely on Corcentric to streamline their invoicing and payment processes to gain controls and efficiency while optimizing working capital.