Added by ariba, 31 weeks ago

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In recent decades, a majority of businesses have focused significant effort on improving the efficiency and effectiveness of their accounts payable (A/P) organization. A bridge between the finance and procurement organization, the A/P function is one that nearly all companies have invested significantly in from a people, process, and systems perspective. But significant change is coming to A/P, which is happening sooner and faster than many might think. This evolution is occurring because A/P, one of the most studied and benchmarked functions in accounting, has reached a plateau of productivity. For progressive CFOs and controllers, the A/P performance plateau should be troubling, as even a cursory look at the paper-intensive function reveals that substantial savings and opportunity clearly remain. But to date, the means to achieve these has remained vexing. Despite the many investments in A/P over the last few decades, most finance executives still quietly claim that they are not satisfied with several A/P components such as current levels of correction work, manual processing, filing and matching activities. And while ERP systems and EDI have made A/P more efficient, they have not done enough to help companies improve performance by reducing paper handling, eliminating errors at the source and enabling low-cost, external connectivity with all suppliers. The good news is that a breakthrough A/P solution has emerged and top-performing organizations are starting to achieve significant results from it. Electronic Invoice, Payment and Presentment (EIPP) systems complement A/P solutions while addressing so many of the deficiencies found in current solutions. The benefits of EIPP, along with a fast, straightforward implementation, are compelling for many companies. This paper will examine the need for - and benefits of - embracing EIPP as an approach to reaching new levels of A/P efficiencies and savings.

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