- Determine which manual steps cause the biggest delays and cost the most money.
- Automate labor-intensive invoice processing by adopting optical character recognition (OCR) scanning and increasing the use of HTML and electronic transactions.
- Identify top obstacles to capturing cash discounts and an alert system of escalations.
- Review your IR&P technology and compare the costs of integrating multiple systems with evaluations of newer integrated approaches.
- Create benchmarks to measure improvements for the costs of processing bills, time to process an invoice, audit findings, and volume of transactions.
Additional Articles of Interest
accounts receivable processes online When A/R Stands for Competitive Advantage Supply & Demand Chain Executive
Web Invoicing & Electronic Payments The Analyst Corner: Payment Supply and Demand Chain Executive
- More research from AberdeenGroup.