In the world of technology, two years can seem like an eternity. With the speed that DVD replaced VHS, Blackberries replaced PDAs, and MP3s replaced CDs, it’s not surprising that in two year’s time, Forrester Research has flip-flopped its opinion of the two ERP juggernauts’ software lineups.

Health Care AP must-see: Secrets for successful payables automation in Health Care!

Invoice discounting is a great way for organizations to improve cash management while maintaining strong vendor relationships. For many companies, it may be the key to surviving the current economic uncertainty.

Traditional invoice discounts, which are usually proposed by the seller, involve paying an invoice early (usually within ten days) for a slight discount. The most common discount terms are 2/10 net 30, meaning the buyer receives a 10 percent discount for paying on the tenth day.

Telecommunications billing is a complex and dynamic area with large volumes and great potential for lost dollars through overpayment. With all the phone companies and systems, services and taxes, plus the constant change that defines the industry, telecom is often considered a prime candidate for outsourcing.

But in order to manage telecom billing well, outsourcing is not necessarily the only answer. In fact, Rob Keough, telecom analyst for Aquila, says his company can maintain better control over the telecom budget by managing it in house.

The traditional belief that a comprehensive business solution like an ERP system needs to be running inside the organizations' walls to be effective is becoming a thing of the past.

During the last couple of years, the software-as-a-service (SaaS) model has been gaining momentum with small and medium-sized companies. Saas, where the solution is managed by the provider and the user accesses it over the Internet, is ideal for businesses unable to commit considerable IT resources to a project.

Invoices are treasure troves of valuable data. With everything from product descriptions to contract terms, invoices feature a wealth of vital information that AP can leverage to improve the organization’s procure-to-pay cycle.

Unfortunately, many departments are not doing this. Mining data from a paper invoice is a daunting task. It requires organizations to devote staff resources and time to a job that doesn’t help pay the bills any faster. The key to getting access to this data is to go electronic.

Comprehensive business process automation covering procedures from the issuing of a purchase order through payment of the invoice is referred to as "procure-to-payment" technology. Procure-to-payment or purchase-to-payment (P2P) technology solutions automate all or most of the significant procedures from the point that a purchase order is issued through payment of that invoice via an integrated system. Such systems typically incorporate visibility into the process and capture of business intelligence.

When I hear the phrase "open source software," I usually imagine massive underground server farms or basement-dwelling computer programmers creating software to bypass DVD copyright protection.

What I don’t usually picture is businesses using inexpensive software to manage their finances. According to a recent article published on internetnews.com, open source enterprise resource planning (ERP) systems are gaining in popularity.

Have you ever asked an ERP or accounting system vendor for a quote and been met with the response "it depends"?

While such an answer can be aggravating when you are looking at several software choices and want to narrow your choices, it is actually a fair and accurate response. A number of factors, such as company size, complexity, and number of employees interacting with the software, all have a bearing on an accounting system's final price.

If you needed any proof that accounting system prices can vary widely, take a look at the following examples: