Optimize Accounts Payable regardless of the ERP life cycle

Digital transformation

Digital Transformation should no longer be an option for 21st century companies, it should be a reality. However, the transformation is not only achieved with just the best technology, but it also requires a change that promotes a new way of doing things.

Those processes that are not aligned with the core business objective of the Company and tasks that do not add value should be delegated to specialized third parties.

Among many, Accounts payable is one of the processes that meets this definition, taking into account the processing tasks (reception, assignment to person responsible, incident resolution, coding, conformation, archiving ...) and supplier invoice accounting, requiring a high number of administrative staff, because on average one resource is needed for every 10,000 invoices.

 

In the United States, 96% of the Top 100 Companies have outsourced all or part of their AP * process, while in Spain only 17% of the IBEX 35 companies have outsourced any of the tasks of the supplier invoice process .  Why? With more than 16 years’ experience in outsourcing this process, we identified among all the CFOs one main reason why they maintain personnel within the structure of the accounting department dedicated to supplier invoice accounting : "My invoices are very complicated, Who better than me knows how to manage them? " However, for example, when we want to send documentation, whether confidential or not, to clients or branches, we never ask ourselves if we should do it internally. We hire an approved courier company with which we have price agreements and guaranteed delivery times.

Companies change their ERP, on average every 8 years, and one of the tasks that takes most time in the analysis of the adaptation to the new system, is the purchases and supplier invoices process or accounts payable (AP ), which represents more than 18% of the implementation time. Too much time is dedicated to adapting a manual and imperfect process to the new system. In addition, manufacturers of first generation ERPs still do not pay enough attention to the process of registering invoices received, not having, in many cases, technologies such as electronic invoices or certified digitalization.  When they have them, they require additional development and are the result of collaboration with third party companies and with costs that make it difficult for many companies to acquire them.

Here at easyap, relying on our high degree of specialization, we are committed to the comprehensive optimization of the supplier invoice (AP) process. Outsourcing the whole process (no partial tasks such as digitization or data entry), insuring in advance  that you know the cost per invoice, with the guarantee of posting time, regardless of the volume or seasonality of the business and all of this WITHOUT necessity to make any investment.

The use of technologies such as Electronic Invoicing, invoice Workflow and automatic accounting mechanisms for the accounting of supplier invoices, fully integrated into the ERP, contribute to the solidity of the process. The automation of the matching tasks (matching invoices against orders and / or entries) and coding (assignment of accounts and analytical criteria) provide the increase in productivity.

In addition, the specialized and externalized automation of the accounts payable process drastically reduces the implementation times of the ERPs (and their associated costs), decreasing from more than 18% of the average dedicated implementation time, to 2% - 3%.

Contact us to find out how we can help you to transform and optimize your Accounts Payable process.

 

* (Source: IAPP International Accounts Payables Professionals)

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