Author: Ian Burdon
21 Jun e-procurement – something else that can ruin your eyesight
Finance people and purchasing people look at the world through different lenses. The world appears completely different to each of them. For a purchasing person, spending too much time working amongst finance people is like borrowing someone else’s spectacles. It will ruin your eyesight!19 Jun Despite all the progress, why are prompt payments so rare?
Posted at 13:06h
in AP Automation, Dynamic Discounting, e-invoicing, e-Procurement, Purchase to Pay, Purchase to Pay Process
How can a banjo frailing ballad singer in Appalachia operate a more modern business model than a government department?
Imagine that I am a finance director in the UK with personal tastes which run to “roots” music. Even for relatively obscure artists in any genre and any country, I will probably be able to find a website either for them or a distributor and buy their music directly as a cd or as a download. I will pay with my credit or debit card and get my cd a week later or my download almost immediately. The artist will get paid relatively quickly and pay a merchants fee which they will have factored into their original pricing.
What I will not do is raise a requisition for the cd, have it approved and then issued to the artist, create and issue a goods received note when the item is delivered and approved, match the ensuing (paper) invoice against the receipt and the order and then promise the artist that I’ll instruct my bank to pay them 30 days thereafter.
Yet, when I go into work the next morning, guess which process I will insist that my organisation uses?