The first round of Major League Baseball playoffs concludes tonight, and no team so far has lost a last-inning
lead. Or to borrow the term used in baseball circles, blown a save.
How can you avoid blowing a save in accounts payable?
To stay ahead of the pack, you must get rid of paper invoices and automate manual processes. Here are some other
things to consider.
Choose a smart invoicing approach to invoice processing that eliminates errors at the source. That means choosing an
e-invoicing solution that doesn't just pass any invoice to AP, but passes only valid invoices through AP.
Benefit from new, collaborative finance capabilities such as dynamic and sliding scale discounts. You pay less for
goods and services, increase annual returns on your short-term cash, and help your suppliers improve their cash
Finally, assess the value to suppliers of your e-invoicing network. Business networks that provide value only to
buyers discourage supplier participation. Two-sided networks such as Ariba's deliver value to buyers and suppliers,
and provide an e-commerce channel that leads to new business opportunities for both trading partners.
You can learn more about trends in e-invoicing and business commerce networks at IOFM's 10th Annual Accounts Payable
Conference and Expo, October 19-21, in Las Vegas. Hope to see you there.