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Sponsored by:
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Virtual Education:
Accounts Payable Productivity Summit 2009
September 15-16, 2009
Location: Your conference room or desktop!
Transform Yourself, Your Controller and Your Entire Team into an AP PowerHouse with the Productivity Secrets of World-Class Organizations
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New Benchmark Survey
Key AP Benchmarks Survey
Focuses on operating expenses, invoice processing, and implemented technologies. All participants receive a copy of the results.
Earns 1 CEU |
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Automate the Cash Flow Game
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Cash flow is a numbers game, with organizations hoping to get paid quickly and hold onto cash as long as possible before paying short-term liabilities. By determining invoice payment timing, accounts payable departments play a significant role in the cash flow game.
This issue features information to demonstrate how your department can use automation to positively impact your organization's cash flow position.
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| Patrick Harbin – Editor
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Virginia e-Procurement System Loses Fees |
The State of Virginia's e-procurement system is bringing in more money than it costs to run. As a result, the state is eliminating the one-time registration fee vendors pay for the privilege of bidding on government contracts electronically.
See Virginia e-Procurement System Loses Fees on TAPC.
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Cash Flow and Automation |
Electronic invoice processing, whether using e-invoices or imaging and workflow, provides AP greater control over cash flow. Some cash flow benefits of electronic processing include:
- Greater Control: Imaged and e-invoices can be processed more quickly, allowing payment to be made according to the company's larger cash flow management goals.
- Discount Capture: Being able to pay early enough to capture discounts can reap an annualized cash return between 20 and 36 percent.
- Avoid Duplicate Payments: Many invoice automation systems pre-audit disbursements to prevent paying the same invoice multiple times.
To find out more about improving cash flow, there's still time to register for today's complimentary TAPC audio conference, Reduce Costs and Maximize Cash Flow with Best Practices in Invoice Automation, featuring David Hay, Consultant, Former Director, Shared Services, Hewlett-Packard Company, and Nick Holmes with Concur. Earns 1 CEU.
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Just for Fun! |
As automation continues to make AP departments better places to work, perhaps technology can also improve our day-to-day domestic lives too.
In Japan, scientists are working around the clock to develop robots that can do everything from cooking and cleaning to getting you out of the bed in the morning. See 5 Robotic Homemakers for Lazy People.
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