What is H-I-P?
When it comes to e-invoicing, it's the following:
High performance: Driving AP productivity from managing fewer than 10,000 invoices per year to 40,000 invoices per year, or more. In addition, the role of your AP staff shifts from low-value data entry, error-checking, and responding to supplier inquiry calls to more strategic activities, such as identifying opportunities for expanding early payment discounts. And that takes us to...
Interest on cash. With current rates of return on short-term cash at historic lows, the double-digit returns from early payment discounts look extremely attractive. As e-invoicing compresses the invoice review and approval cycle to a few days, you can capture early payment discounts on virtually all invoices that offer them. And with an innovation in collaborative finance management -- dynamic discounting -- you can extend discount opportunities to any approved invoices, on a sliding scale up to the due date of the invoice.
And finally... the Perfect Payable. With Ariba's PO-Flip(R) service functionality, you can automatically convert electronic purchase orders into e-invoices that are error free and an exact match to the purchase order. Or you can match non-PO invoices to contracts and ensure compliance with negotiated prices on goods and services from your preferred suppliers. Ariba supports matching of non-PO invoices against distinct service/material items (with advanced tier and formula pricing attributes), recurring fees/payments, contract milestones, or by time and materials.
So get H-I-P with e-invoicing and turn your AP organization into a tower of processing power. To learn more, join us this Thursday, Sept. 22, at 2pm EDT / 11am PDT for a free webinar, Build Your Business Case for Procure-to-Pay Automation, featuring The Hackett Group.