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PayStream Advisors delivers unbiased, third-party market trend information, assessments of financial automation technology, and innovative ideas to business leaders in healthcare, consumer billing, finance and treasury, accounts receivable and accounts payable.

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Electronic Invoice Management: Best Practices and Operational Metrics to Streamline AP

Publication Length: 18 Pages
Publication Date: 4/22/2010
Publisher: PayStream Advisors

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A paradigm shift is underway as organizations strive to address shortcomings in their financial supply chains. Increasingly, savvy organizations are exploring innovative means to leverage automation to address these issues. Not surprisingly, accounts payable automation — specifically around electronic invoicing, automated workflow, and dynamic discounting — is emerging as one of the key components of the financial supply chain strategy.

However, technology is not the be-all and end-all of any automation initiative; it is just an enabler. The key to successful AP automation lies in the redesign of invoice and payment management processes and a strong strategy to leverage the available technology to meet each organization’s specific business requirements.

PayStream’s latest report titled “Electronic Invoice Management: Best Practices and Operational Metrics to Streamline AP” looks at best practices and key performance indicators AP departments can use to improve and optimize their operations. The report addresses the  following areas:

• Building a business case for electronic invoicing;
• Tangible benefits of eInvoicing;
• Steps to Ensure Success of eInvoicing;
• Invoice Management Best Practices;
• Key Performance Indicators (KPIs) for AP;
• eInvoicing Case Studies.