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.
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