Process optimisation from initial requisition to supplier invoice payment
Even though the processes and procedures of financial accounting do not number amongst the main business activities for most companies, they are nevertheless appearing more and more amongst the core areas of interest for internal and external process optimisers. Upon closer inspection the reason for this becomes obvious:
Without a well-functioning process chain from ordering to payment (purchase-to-pay), the supplier invoice neither allows an effective use of resources nor an efficient Accounts Payable process. Too often, errors creep in, with needs, inventories and use of financial resources being incorrectly double-checked or invoices being paid without taking advantage of prompt payment discounts, or even being paid late.
As a result productivity, flexibility and competitiveness suffer – and this in turn negatively impacts on the profitability of the company.
It should therefore be no surprise that the optimisation of financial accounting, including their upstream and downstream processes, is growing increasingly in importance and climbing to the top of the planning agenda for CFOs, CTOs and CEOs.
On the following pages ASTERION’s process optimization experts have summarized the options available to small, medium and large companies for making their financial accounting processes faster, less error prone and more cost-effective.
B B2016-12-21T12:32:07+00:00December 5th, 2016|know-how|Comments Off on Optimisation of financial accounting: the problem