Many organizations we work with have little difficulty identifying the pain points that exist throughout their current Procure-to-Pay processes. But when it comes time to enter the P2P solution market to research their options, few prospects have enough knowledge regarding what to prepare for and expect throughout the stages of their automation project.
AP Automation including Invoice Automation and Discount Management (IADM) initiatives need a framework to ensure that programs are approached on a strategic basis which bridges both the Supply Chain and Finance organizations. PayStream’s analysts have introduced such a framework to help enterprises implement integrated IADM and maximize benefits.
It’s sobering to think about the demise of Bear Stearns, the collapse of several regional banks, and the plummeting stock prices of larger financial institutions. Tech-savvy companies have discovered a relatively untapped revenue source – supplier electronic payments.
Thanks to the ripple effect of the subprime mortgage crisis, today’s consumers are feeling a financial pinch like never before. Job losses abound, credit is tight, gas prices have topped $4 a gallon, food staples are priced like luxuries items – and many customers who’ve never before been late paying their bills are falling behind.
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