Recently, our office, along with other floors in the same building, was burgled. Luckily for us, it was during the early hours of the morning when no one was in. On our floor alone,...
Tagged: Accounts payable
Fraud is a serious risk that companies face in this complex global business environment. A 2008 study has shown, nearly 1/3 of companies had experienced a fraud in relation to payments. Switching to an EFT solution such as B4B, which includes PGP (Pretty Good Privacy) Encryption as an option as appose to relying on cheques and manual payment processes can provide reassurance, better security and complete knowledge of payments being made.
I think everyone has seen and read the story about using drones to deliver your shopping. And it is not an April fool’s day prank. It looks real enough. The Jetsons have arrived.
I have had the pleasure of being involved in the evolution of the new Excel add-on for IPOS electronic procurement for SunSystems, iPOS XL. It will be released as two components, the first release supports requisition creation and the subsequent release will support invoice creation.
Typically, when an organisation overhauls their existing procurement practices they look at all the internal change management issues and often neglect engaging with their suppliers and getting them on board.
I’m always delighted when a company says “send me the invoice”. It’s a good measure of success for both parties. But my delight turned to horror recently when I was told “Oh yes, you can email the invoice if you want, but you must also post one to the finance address.
Punch out is the ability for a buyer to select and order goods from a supplier’s online catalogue from within the iPOS purchasing system.
Recently Professional Advantage ran a survey of 25,000 iPOS procurement users worldwide. The survey posed the question “If your organisation had an objective to decrease the accounts payable (AP) effort by x days per month, what would you target to achieve this objective?”
XML stands for Extensible Markup Language. It is a generic term for a globally defined set of standards and rules that enable documents to be codified in a way that both humans and machines can read.
Scanning invoices in an attempt to reduce procurement effort is like ordering a faster fax machine because your current model is too slow. Why not get rid of the fax machine?