CPO Rising has been actively publishing thought leadership, technology analysis, and supply management best practices for many years and the result has been a steady stream of valuable content that sometimes gets lost in the shuffle. To help our readers keep better track of our ideas on certain topics, we’ve developed a new series in which we will feature a sampling of impactful insights and recent articles on the topics that matter most to CPOs and other procurement executives (Note that readers can also search different categories by clicking on “Articles” found in the blue menu bar directly under the CPO Rising logo or by searching “Tags” under the sponsor logos on the right hand navigation bar). We’ve started with Strategic Sourcing topics, but are now moving onto downstream topics, such as eProcurement and AP Automation. Enjoy!
4 AP Automation Articles You Should Read
1. An SMB Buyer’s Guide to AP Automation
From our article entitled An SMB Buyer’s Guide to AP Automation: Once upon a time, small and mid-sized businesses (SMBs) expended significant effort to automate business processes such as accounts payable (AP). With the advent of cloud solutions, this is no longer the case. SMBs no longer have to deal with inefficient, paper-based processes that are a waste of costly resources or long-running technology implementations. And yet, despite clear benefits to AP automation and the ease of installation, making the chance isn’t necessarily straight forward. Read more about this article by clicking here.
2. The SMB of the Future
From our article entitled The SMB of the Future: One area that presents a significant opportunity for SMBs is the accounts payable process, which manages how an invoice is received, processed, and paid. The AP function is also a key component of cash flow management, which is a crucial part of running any business. An AP process that is efficient and can provide visibility into current and future liabilities can be a great asset to a cash-conscious SMB. Unfortunately, the AP process within most SMBs is largely manual and paper-based resulting in a general lack of visibility, gross inefficiency, and costly invoice/payment processing putting them at a disadvantage to those that have automated AP. Read more about this article by clicking here.
3. 2014: The Year Ahead in ePayables (AP Automation)
From our article entitled 2014: The Year Ahead in ePayables (AP Automation): 2014 [was] an exciting time for the providers of ePayables solutions and for the AP organizations that use them. For far too long, AP departments have been stuck with manual and inefficient processes. And while many will continue to struggle this year, we expect to see more organizations begin initiatives to transform the AP function (including ePayments) and bring the AP operation into the modern age. AP, Finance and Procurement leaders increasingly understand the value that a more efficient AP process can deliver with their real-time, accurate vies into invoices and payments. CPOs, procurement leaders, and treasurers should all take note because the value created within a “transformed” AP process can and should extend across the entire P2P process and working capital objectives. Read more about this article by clicking here.
4. 2014: The Year Ahead in ePayables (AP Automation)
From our article entitled The Value of Accounts Payable: Similar to what the procurement profession experienced over a decade ago, we are beginning to see a shift within the AP profession. The main reason for this shift is “automation” which is enabling the AP function to be more efficient and allowing AP staff to focus on more strategic objectives (since many of the tactical activities have become automated). Most AP groups have a very real opportunity to create value for the enterprise. However, to get to that point, AP must go through a transformation that changes the way they think and transforms their processes and systems – this is similar to the one procurement has experienced (or is still experiencing, depending on your world view). Read more about this article by clicking here.
