Purchase to Pay Tag
08 Jun The Power of the Purchase to Pay Audit
The correct steps to take to implement holistic P2P very much depend on the starting point. An immature organisation may have to work hard simple to get to the starting line. Others may already have reached a high level of maturity, but whatever the starting point, it is worth going back to basics and beginning with a high level audit assessing your level of P2P maturity.07 Jun Holistic Purchase to Pay
Posted at 14:29h
in e-Procurement, Electronic Invoicing, Financial Supply Chain Management, Purchase to Pay, Purchase to Pay Process
It doesn’t take a mathematical genius to understand the business case for some purchase to pay initiatives. Dynamic discounting - exchanging a discount in return for early payment - can give a return on capital of over 30%. Reverse factoring and other supply chain finance methods can substantially increase DPO and AP automation can reduce costs by 50%. But despite the compelling business case, most organisations remain firmly in the 20th century when it comes to purchase to pay optimisation. If the benefits are so great, why are more businesses not grasping the opportunity?
07 Apr Purchase to pay plumbing – the critical touch points between finance and procurement – part 2
This is the second part of a two piece article on the touch points between purchasing and finance. You can read part 1 herePurchase 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.
07 Apr Purchase to pay plumbing – the critical touch points between finance and procurement – Part 1
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.18 Jan Grant Thornton Chooses Palette for Hosted Invoice Management Service
Posted at 03:31h
in Electronic Invoicing, Financial Supply Chain Management, P2P Europe, Purchase to Pay
One of the leading financial and business advisers, Grant Thornton Sweden, has deployed an invoice processing solution from enterprise purchase-to-pay specialist Palette as the backbone of its internal and hosted electronic invoice management (EIM) service.
Grant Thornton Sweden is one of the leading financial and business advisers, providing services in Sweden and internationally. Currently processing around 30,000 invoices per month for over 300 customers both in Sweden and internationally, Grant Thornton’s EIM service improves the efficiency of customers’ accounts payable, as well as optimising the company’s own internal invoice management system.