AP PROCESS
IMPROVEMENTS

In an ever-changing world where organizations face stiff competition and pressure from management to improve profitability and the bottom-line, Accounts Payable (AP) organizations have become increasingly focused on process improvement and optimization initiatives that drive business performances.

 

To continually create value for their organizations, AP leaders are always looking for innovative ways to lower the cost of AP processing or reduce transaction processing time – especially those organizations that have made significant investments in ERP applications (Enterprise Resource Planning). The majority now have standardized AP processes with the potential to increase efficiency, reduce costs of AP functions and processes, and greatly improve the ability to manage working capital effectively.

 

Yet, despite the ERP capabilities, AP teams are somehow still burdened with processing numerous invoices manually or called to intervene in the procure to pay process.

 

At Transformious, we can help lower your Accounts Payable costs and reduce transaction processing time.

HOW TO REDUCE MANUAL INTERVENTIONS

IMPLEMENT ELECTRONIC INVOICING

To receive invoices electronically, image capture and storage with automatic matching to POs in ERP.

PURCHASING & CORPORATE CARDS

To eliminate low-value & one-time purchases. Most Banks offer programs integrated with major ERP.

NON-PO INVOICES APPROVAL

Use Approval workflow to automatically route scanned Non-PO Invoices for approval.

REDUCE CHECK-WRITING

Offer suppliers flexible Electronic payment options. ISO20022 is global and extremely robust messaging standards.

SHARE THE WORKLOAD

Migrate eligible suppliers to self service portal. Drive greater efficiencies, lower costs, fewer errors for all stakeholders.