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Research

Controlling AP Costs

controlling AP covTurning AP from Reactive to Proactive

The financial crisis created by COVID-19 makes the need for accounts payable (AP) and procure-to-pay (P2P) teams to be proactive in reducing costs and protecting cash increasingly urgent.

This new report by FISCAL Technologies identifies the areas most vulnerable to cash leakage and highlights opportunities to cut costs and achieve successful recoveries.

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Analysing trends for Future Insights - 2010 to 2020

A Decade of Change and of Continuity

PPN Survey 2020 covThe new decade has given us the opportunity to look back over the last ten years to see how the procure to pay environment and the wider business community has changed and flexed over the years.

The backdrop of a difficult UK economy in 2010, still struggling to climb out of the depths of 2008, provided the impetus for many organisations to try to do more with less and make efficiencies where possible.

This report is derived from a study incorporating the online results of 90 senior influencers and decision makers involved with Procure to Pay, Finance, procurement and the supply chain.

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The Essentials of Procure-to-Pay

Symtrax asset covThe procurement process has become a necessity for business efficiency. It concerns the buying and managing of raw materials that a company requires to manufacture its products or provide services. This process typically involves huge cash flows and requires visibility throughout the transaction cycle, from vendor selection to the final invoice generation and payments with adjustments.

A procurement plan is indispensable and can be implemented in any small to mid-tier thriving business. Successful procurement planning can define clear purchasing guidelines, place a company above their competitors, and identify anticipated goods and services for potential purchase, thus reducing expected costs.

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How to get more from your purchase to pay investment

Wax D asset coverAs a finance or procurement professional you’re probably already well-versed on some of the benefits of introducing purchase to pay (P2P) automation. Purchase to Pay systems replace slow, time consuming and expensive manual steps, from raising a requisition, to paying the supplier, with a fully automated electronic
process. It yields many rewards, not just for your team, but for the wider business.

We’ve conducted research into Purchase to Pay system benefits with the views of 200 leading UK finance and procurement functions. Based on their responses, we’ve produced this guide so you can quickly check you’re on the right lines if you’re currently managing a P2P system user case or P2P process review.

The guide will also be helpful to ensure you’re getting the best possible value from your existing P2P technology investment.

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Please fill in the form below to access our exclusive Focus Week videos