With an exciting new report from Vishal Patel, Ardent Partners’ Research Director focused on ePayables in the offing and an exciting new ePayables-related venture soon to be announced, we’ve decided that next week should be “ePayables week” on CPO Rising [Sidebar: Despite our theme, I will be at ISM next week.].
Why do we cover accounts payable (“AP”) on a procurement-themed website?
Great question! Because in 2012, P2P really does mean comprehensive Procure-to-Pay (not simply procurement or simply accounts payable, but both, together). This doesn’t mean that enterprises can’t begin their P2P projects within a single department – as solely an eProcurement initiative or solely an ePayables one. They can. There is nothing inherently wrong with taking a “departmental” or sub-process approach to automating the P2P process; in fact, many of the most successful P2P operations began with a departmental focus. But, just as different wings (that house different exhibits and attract different visitors) of the same museum must function as part of the larger building, a departmental approach to P2P must envision itself as one part of a greater whole, if the maximum benefits are to be realized.
Taking a holistic view of the full P2P process has shown to be increasingly valuable to procurement leaders.
Why else do we focus on AP on this procurement-themed website?
Because, combining procurement and AP strategies can have a big impact on cash positions. In fact, next Tuesday, I will be presenting a webinar hosted by CFO magazine and sponsored by Syncada on just that topic. You can register here. Here is the official description:
Using ePayables to Enable Trade Finance and Optimize Working Capital
Sponsored by Syncada
Date: Tue, May 08, 2012
Time: 2:00 P.M. ET
Summary: New research from Ardent Partners reveals that when deployed properly, ePayables solutions, which automate accounts payable (AP) processes, have the dual benefit of driving significant process efficiencies across the AP function while also enabling finance and treasury professionals to gain greater visibility into current and future liabilities. ePayables also support companies’ efforts to develop proactive strategies to optimize working capital, including the use of trade financing.
Join Andrew Bartolini, Chief Research Officer with Ardent Partners, and Cedric Bru, Global Head of Sales, Marketing and Business Development with Syncada, in a lively presentation, where you will be the first to hear research findings from Ardent Partners about ePayables, as well as practical advice on how your organization can implement best-in-class working capital optimization strategies. From this Webcast, you will:
- Gain a clear view into the benefits that an automated accounts payable department can provide to the larger enterprise, and to treasury and finance leaders in particular;
- Understand how best-in-class finance departments utilize ePayables technology to develop cash management strategies based on the enterprise’s specific needs; and
- Learn how leading AP departments are moving from being back-office operations to partnering with Treasury and Finance to produce working capital optimization strategies.
If you are a finance, treasury, or accounts payable professional who has responsibility or interest in managing cash, driving efficiencies, and developing a world-class finance department, you will not want to miss this Webcast.