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Making AP Automation a reality the Refresco Beverages way
Thursday, 20th July, 2017 10:30 AM - 11:15 AM BST
From the first point of deciding to move towards AP automation, building a robust business case is the most important element to get right first time. The business case must provide a clear understanding of the current AP process. You need to figure out what the current method is to receive, process and pay an invoice. Is it fully paper-based? How long does it take to process and pay an invoice? How is validation and matching done? How many invoices and payments are processed annually? Only after the baseline processes and costs are fully understood is there enough context to highlight the current challenges. These problems, which are also opportunities for improvement, are typically driven by a lack of visibility and efficiency in the AP processes, some of them include:• High processing costs and times
• High exception rates and general invoice processing issues
• Late payments and late payment penalties
• Poor supplier relations
• Inability to manage/control cash, understand current liabilities, and the failure to optimize working capital
Join us on this webinar where we’ll hear how Refresco Beverages built a successful business case that you can follow.