It’s often the little things that if left unresolved, end up causing the biggest headaches. What’s even more hellish is that these nightmares have a way of popping up at precisely the wrong time. Typically, the solutions aren’t elaborate or expensive; they simply involve identifying the mistake and rectifying it.
Hear Mary Schaeffer, Editor of AP Now as she:
•Identifies 25 AP mistakes that on the face seem minor but could result in major headaches
•Addresses why these issues can cause complications and what you can do to avoid these in the future
•Discusses some strategic tools that you can implement to avoid this all together!
[Webinar] Little Mistakes that Cause Big Problems in Accounts Payable
1. Little Mistakes that Cause Big
Problems in Accounts Payable
Mary Schaeffer
Publisher & Editorial Director AP Now
Author The Controllers’ & CFOs’ Guide to
Accounts Payable + 15 other business books
24. The Case for AP Automation
Fast Facts
›
$15.70 – average cost to process an invoice
›
17.7 days– average time to process an invoice
›
14% - average number of invoices with errors
›
$12 billion – average dollar amount financial
institutions lose to payment fraud annually
Anybill 2010, All Rights Reserved
Not For Distribution
25. The Case for AP Automation
Why Automate?
›
Improve visibility, efficiency and control with AP automation
›
Process invoices more efficiently using web-based software
›
Identify and eliminate bottlenecks and delays that lead to overdue, missed or
duplicate payments
›
View expenses in real-time to manage
cash flow
›
Control spending with workflow and
approval features
›
Gain access to historical
data with robust, on-demand
reporting
Anybill 2010, All Rights Reserved
Not For Distribution
26. The Case for AP Automation
The Impact
Time To Process Payables
No Automatic Validation
Lack of Visibility
& Transparency
High Processing Costs
Anybill 2010, All Rights Reserved
› Delays Posting Expenses
› Poor Use of Working Capital
› Damaged Supplier Relationships
› Overpayments and Duplicate
Payments due to Billing Errors
› Difficulties Budgeting, Planning,
Forecasting
› Lack of Control
› Higher Audit Risk
› Difficulty Responding to Vendor
Inquiries
D
› Drains Internal Resources
› Waste of Operating Capital
Not For Distribution