As in any new endeavor, it’s important to know the fundamentals in order to make an informed decision. Our new live webinar will help if you’re considering automating your accounts payable or already exploring options.
Today’s finance executives and managers are increasingly being charged with getting control over costs and reducing inefficiencies in their finance functions, especially when it comes to B2B transactions. That’s why companies are increasingly turning to SaaS-based automated solutions for their accounts payable performance.
How do you know which decision is right for your company?
It’s difficult to select a solution and provider that best suits your company’s needs without a full understanding of the basics of accounts payable automation. Discover those basics by registering for Corcentric’s new live webinar, AP Automation 101: What You Need to Know, which will take place next Thursday, October 20 at 2:00pm ET.
Join Jim Wright, Corcentric’s Vice President of Sales as he illustrates how making the right decisions about AP automation platforms and crucial technological features can help deliver the maximum ROI to your organization. He’ll cover the six components you need to look for when considering a solution and a provider. If even one of these components is lacking, you won’t reap the benefits a solution should provide.
- Document and data capture – This is the process of collecting, capturing, converting and normalizing a variety of invoice formats. The result of this process will be an e-invoice.
- E-invoice – Digital from its inception, an electronic invoice, or e-invoice, is not a pdf, a fax, or an email attachment. By eliminating paper completely and creating a digital invoice in its stead, the chance for inefficiency and inaccuracy is reduced dramatically.
- Workflow and approval – Automating removes the need to touch every invoice so you can focus on exceptions. Make sure the platform includes automated routing, 3-way matching, straight through processing, and mobile approval capability.
- ERP integration – By synchronizing data and sharing it across business units/applications, information doesn’t need to be entered in multiple locations. Always look for a solution that’s ERP-agnostic so it will work with whatever system you have.
- E-payments – Having the ability to offer electronic payment through ACH or virtual credit is the final step in the purchase-to-pay process and must be a part of any solution you choose. However, since it’s unlikely that 100% of your suppliers will accept electronic payments, make sure to select a provider who offers a holistic solution that includes the processing and sending of paper checks.
- Reporting and KPIs – A platform that includes robust data, analytics, and reporting capability will enable you to identify inefficiencies and impediment to productivity.
Jim will also cover the various solution models that the market now offers and why one might be better suited to your needs than others. For companies considering automating their AP, this is a must-attend webinar.
Register now for the live webinar, “AP Automation 101: What You Need to Know.”