Receivables Exchange announced this week that they and Coupa - the cloud based e-procurement player - have combined forces to offer small and medium enterprises greater access to working capital through the Exchange's innovative cash flow solution. The Receivables Exchange allows suppliers to auction their receivables invoices to gain on average 98-99% of their value - according to the Exchange - and receive full value in as little as 2 days.
Charles Dominick - nextlevelpurchasing.com - recently published his top twenty online resources for procurement pros. It's an interesting list, ordered by Alexa ranking (notoriously unreliable but as a relative rank guide, there or there abouts).
There's the obvious resources that you'd expect to be well ranked such as Supply Chain Management Review and Supply Management and there's no surprise to see Spend Matters and Peter Smith's Spend Matters UK up there with Procurement Leaders. But what I found particularly interesting is the specialist niche resources that are exerting an influence.
If P2P or e-invoicing are on your agenda, you need to know about two important conferences happening this year. e-invoicing Europe 2011 happens in July and sharedserviceslink.com host their 5th P2P conference in June. Both of these are must attend events.
This is the second part of a two piece article on the touch points between purchasing and finance. You can read part 1 here
Purchase to pay plumbing manual – part 2
Knowing your end of the purchase to pay process is all well and good but, if you are at the purchasing end for example, which part of the payment end do you need to be joined up to? Here’s a few more of the purchase to pay touch points that should help get the P2P plumbing in place.
Have you ever installed the plumbing in a large office? Neither have I. And if I did I would hold out much hope of it not springing a leak or two. It's a complicated business and you would think twice about having your corporate plumbing installed by anyone other than a trained professional. It's a shame that most organisation don't apply the same rigour when it comes to installing P2P processes.
It's a useful analogy. Installing only half of the purchase to pay process is like installing half of the plumbing. Turn the water on and it will be like a monsoon. Both ends of P2P need to be joined up - but knowing which purchasing component joins with which payment component isn't always obvious.
It used to be the preserve of the geeks then the teenagers and the silver surfers and finally just about everybody started to embrace social media. And corporations have got on the band wagon too. There's been lots of debate recently about whether twitter or social media generally is an important tool in the business world with many remaining unconvinced of its worth. But despite the scepticism, corporate twitter accounts, facebook pages and company blogs are now becoming firmly established as important marketing and information channels. But this can be dangerous - very dangerous indeed, because to get things wrong is worse than not doing anything at all.