Digitizing your accounts payable can make your whole company more agile by simplifying accounting and monitoring costs. Use Silicon Valley Bank’s checklist to help with your company’s transition to paperless payables.
When you need tighter controls and maximum spending visibility, the way your company pays is key. Try these five tactics for sharpening your use of company credit cards.
Paying your suppliers by credit card is a smart financial move that is good for cash flow, financial management and overall expense reduction. But to access these gains, your vendors must first agree to accept your card payments.
Migrate Your Payments Platform Without Disrupting Your BusinessSilicon Valley Bank
Switching to a more robust payment platform can deliver benefits including better approval ratios, enhanced reporting, quicker funding, global payment acceptance and improved security. We'll review five key questions to gain an understanding of platform transition steps and share a helpful checklist for creating a project plan.
11 Benefits of Accounts Receivable Management SoftwareE2B Teknologies
Take a look at this slide deck to learn the benefits of accounts receivable management software and how automating accounts receivable can help you increase cash flow, reduce bad debt, and much more.
When you need tighter controls and maximum spending visibility, the way your company pays is key. Try these five tactics for sharpening your use of company credit cards.
Paying your suppliers by credit card is a smart financial move that is good for cash flow, financial management and overall expense reduction. But to access these gains, your vendors must first agree to accept your card payments.
Migrate Your Payments Platform Without Disrupting Your BusinessSilicon Valley Bank
Switching to a more robust payment platform can deliver benefits including better approval ratios, enhanced reporting, quicker funding, global payment acceptance and improved security. We'll review five key questions to gain an understanding of platform transition steps and share a helpful checklist for creating a project plan.
11 Benefits of Accounts Receivable Management SoftwareE2B Teknologies
Take a look at this slide deck to learn the benefits of accounts receivable management software and how automating accounts receivable can help you increase cash flow, reduce bad debt, and much more.
Miraculous accounts payable(ap) process improvement ideasInvoicera Tondon
In this highly competitive business environment, you need to be aware of account payable process mistakes and the steps that you can take to improve them.
RPA - We work with companies to help them automate tedious tasks and also transition from legacy systems to the cloud for driving more value to their businesses
AI/ML -AI technologies such as NLP, Machine Learning, text analytics, speech recognition can help your company for task automation, boosting efficiency and saving money
Data Analytics -Get deep business insights from your data! We employ data analytics for configuring strategy and measuring KPI’s to enhance business performance.
Fast-Track Your O2C Cycle With AR Automation - Techwave.pdfAnil
Sales, supply chain, and compliance aspects make the initial cash cycle a reasonably complex process. AR automation is one way by which organizations can shorten the cash conversion cycle and improve operational excellence. It also allows financial executives to build a solid foundation for a holistic, sustainable O2C process.
5 Key Metrics that will Empower Your AP Organization
Document
The most vulnerable area of accounting in any company is the outflow of cash resources – the accounts payable function. Learn which KPIs you need to measure and how to improve them.
AP Automation makes them easy to track.
What does 2022 hold for AP and P2P organizations?
Financial teams are transforming into agents of change tasked with finding new ways to lead. In the current global environment, the key to future success is finding new ways to adapt, scale, and capitalize on technology.
We anticipate the changes we saw this year will continue, but don’t expect things to stop there. The most successful companies will be looking to lean into those changes and bring about even more dramatic transformation to their operations.
Vendor invoice mangement for sap overviewTodd Burns
Increase ROI and save money
Your most significant potential for savings is
in the reduction of AP invoice cycle times
and the elimination of late fees, which
results in greater vendor discounts. Significant
reduction in cost per transaction (CPT),
improved cash management through AP
liability reporting capabilities, and virtually
eliminated data entry labor costs through
data capture using OCR and rapid data
entry all combine to ensure significant
savings across your AP department.
Subscription management and recurring billing apps can be a bit overwhelming in regards to what it all means.
In order to save you the confusion, we have created a beginner’s guide to subscriptions, payment gateways and merchant accounts.
New Age of Procurement: Navigating the Relationship Between Supplier Risk, Co...SAP Ariba
When organizations optimize payables, a new opportunity emerges for procurement and finance with early payment discounts and supply chain finance, with financial benefit far greater than operational savings. In this session, SAP Ariba solution customers will discuss how early payment discount programs and supply chain finance have delivered significant value to their business and reduced supplier risk while ensuring payment compliance both to negotiated terms and to VAT tax rules.
Pay It Forward: How AribaPay Can Accelerate Your E-Commerce Strategy by Incre...SAP Ariba
Want to supercharge supplier adoption of your Ariba solutions? Start with something your suppliers will eagerly support--getting paid! With AribaPay, the multiple award-winning B2B payment innovation, you can eliminate paper and risk in your payment process while giving your suppliers the payment visibility and comprehensive remittance they need to forecast and apply cash flow. In this session, you'll hear how the move to networked B2B payment with AribaPay benefits buyers and suppliers and delivers value far beyond the payment itself.
How confident are you in your financial close and the accuracy of your financial statements? Are you tired of wasting time doing reconciliations manually, using spreadsheets? Would you like to increase efficiency, productivity, control and visibility while minimising risks and reducing bottom line costs?
If so, join SAP, BlackLine and global manufacturing/agricultural giant CNH Industrial for a webinar that will show SAP customers (operating in an SAP-only environment or across multiple ERPs) and other ERP users how to optimise key accountancy and finance processes.
For the first time, SVB surveyed technology and life science entrepreneurs based in Canada. Like their counterparts in the US, UK and China, Canadian startups are optimistic about the year ahead even amid economic volatility. And while eager to hire and fundraise, they recognize the challenges they face. Most startups say Canadian government support of the innovation economy is having a positive impact. When it comes to gender parity, 60 percent of Canadian startups have at least one woman in an executive position. Looking ahead, we asked which technologies will have the most promise a decade from now: Canadian startups say AI and life science.
The outlook for the Chinese tech sector is strong, with a large number of startups saying they expect more M&A opportunities. Access to talent and raising capital remain challenging. Compared to the US and UK, a higher percentage of Chinese startups have women in senior company roles and at least one woman on
the founding team.
More Related Content
Similar to How Paperless Payables Can Streamline Ops and Improve Cash Flow
Miraculous accounts payable(ap) process improvement ideasInvoicera Tondon
In this highly competitive business environment, you need to be aware of account payable process mistakes and the steps that you can take to improve them.
RPA - We work with companies to help them automate tedious tasks and also transition from legacy systems to the cloud for driving more value to their businesses
AI/ML -AI technologies such as NLP, Machine Learning, text analytics, speech recognition can help your company for task automation, boosting efficiency and saving money
Data Analytics -Get deep business insights from your data! We employ data analytics for configuring strategy and measuring KPI’s to enhance business performance.
Fast-Track Your O2C Cycle With AR Automation - Techwave.pdfAnil
Sales, supply chain, and compliance aspects make the initial cash cycle a reasonably complex process. AR automation is one way by which organizations can shorten the cash conversion cycle and improve operational excellence. It also allows financial executives to build a solid foundation for a holistic, sustainable O2C process.
5 Key Metrics that will Empower Your AP Organization
Document
The most vulnerable area of accounting in any company is the outflow of cash resources – the accounts payable function. Learn which KPIs you need to measure and how to improve them.
AP Automation makes them easy to track.
What does 2022 hold for AP and P2P organizations?
Financial teams are transforming into agents of change tasked with finding new ways to lead. In the current global environment, the key to future success is finding new ways to adapt, scale, and capitalize on technology.
We anticipate the changes we saw this year will continue, but don’t expect things to stop there. The most successful companies will be looking to lean into those changes and bring about even more dramatic transformation to their operations.
Vendor invoice mangement for sap overviewTodd Burns
Increase ROI and save money
Your most significant potential for savings is
in the reduction of AP invoice cycle times
and the elimination of late fees, which
results in greater vendor discounts. Significant
reduction in cost per transaction (CPT),
improved cash management through AP
liability reporting capabilities, and virtually
eliminated data entry labor costs through
data capture using OCR and rapid data
entry all combine to ensure significant
savings across your AP department.
Subscription management and recurring billing apps can be a bit overwhelming in regards to what it all means.
In order to save you the confusion, we have created a beginner’s guide to subscriptions, payment gateways and merchant accounts.
New Age of Procurement: Navigating the Relationship Between Supplier Risk, Co...SAP Ariba
When organizations optimize payables, a new opportunity emerges for procurement and finance with early payment discounts and supply chain finance, with financial benefit far greater than operational savings. In this session, SAP Ariba solution customers will discuss how early payment discount programs and supply chain finance have delivered significant value to their business and reduced supplier risk while ensuring payment compliance both to negotiated terms and to VAT tax rules.
Pay It Forward: How AribaPay Can Accelerate Your E-Commerce Strategy by Incre...SAP Ariba
Want to supercharge supplier adoption of your Ariba solutions? Start with something your suppliers will eagerly support--getting paid! With AribaPay, the multiple award-winning B2B payment innovation, you can eliminate paper and risk in your payment process while giving your suppliers the payment visibility and comprehensive remittance they need to forecast and apply cash flow. In this session, you'll hear how the move to networked B2B payment with AribaPay benefits buyers and suppliers and delivers value far beyond the payment itself.
How confident are you in your financial close and the accuracy of your financial statements? Are you tired of wasting time doing reconciliations manually, using spreadsheets? Would you like to increase efficiency, productivity, control and visibility while minimising risks and reducing bottom line costs?
If so, join SAP, BlackLine and global manufacturing/agricultural giant CNH Industrial for a webinar that will show SAP customers (operating in an SAP-only environment or across multiple ERPs) and other ERP users how to optimise key accountancy and finance processes.
Similar to How Paperless Payables Can Streamline Ops and Improve Cash Flow (20)
For the first time, SVB surveyed technology and life science entrepreneurs based in Canada. Like their counterparts in the US, UK and China, Canadian startups are optimistic about the year ahead even amid economic volatility. And while eager to hire and fundraise, they recognize the challenges they face. Most startups say Canadian government support of the innovation economy is having a positive impact. When it comes to gender parity, 60 percent of Canadian startups have at least one woman in an executive position. Looking ahead, we asked which technologies will have the most promise a decade from now: Canadian startups say AI and life science.
The outlook for the Chinese tech sector is strong, with a large number of startups saying they expect more M&A opportunities. Access to talent and raising capital remain challenging. Compared to the US and UK, a higher percentage of Chinese startups have women in senior company roles and at least one woman on
the founding team.
For the 10th year, Silicon Valley Bank is proud to present
our Startup Outlook Report. The innovation economy has
expanded greatly in the US and abroad in the past decade,
and so has Startup Outlook. In our first report, we surveyed
300 people, most of them in California. The 2019 report
includes the perspectives of nearly 1,400 technology and
healthcare founders and executives primarily in major
innovation hubs across the US, the UK, China and, for the
first time, Canada.
Trends in Healthcare Investments and Exits 2018 - Mid-Year ReportSilicon Valley Bank
In our mid-year Healthcare Investments and Exits report, we analyzed the fundraising, investment, M&A and IPO activity of private, venture-backed biopharma, medical device and diagnostic/tools companies.
The SVB State of the Markets report provides a quarterly update on the health and productivity of the global innovation economy. This quarter's report includes a special section on the booming Chinese tech industry.
Our annual report finds significant numbers of startups continue to have no women in leadership, yet a growing percentage have programs in place to change that.
In our annual Healthcare Investments and Exits report, SVB analyzed the fundraising, investment, M&A and IPO activity of private, venture-backed biopharma, medical device and diagnostic/tools companies.
Silicon Valley Bank's Startup Outlook 2018 captures perspectives from US technology and healthcare entrepreneurs on the opportunities and challenges they see ahead for startups.
US startups tell SVB they are entering 2018 with confidence:
- Nearly two of three US startups believe that 2018 will be better than last year
- The number that plan to hire is at a five-year high
- Most startups expect M&A activity to stay strong
- Venture capital remains the go-to source for future funding
Read more at http://bit.svb.com/2DLLcgZ
Trends in Healthcare Investments and Exits: Mid-Year 2017Silicon Valley Bank
In our mid-year 2017 report on healthcare investing, SVB analyzed the fundraising, investment, M&A and IPO activity of private, venture-backed biopharma, medical device and diagnostic/tools companies.
Investment and fundraising in the healthcare ecosystem saw a banner first half of 2017, driven in part by advancements in artificial intelligence and machine learning for healthcare applications and a surge in Series A investments, particularly in biopharma.
Silicon Valley Bank's Life Science and Healthcare Startup Outlook Report examines how the industry's executives view 2017's opportunities and challenges. The report includes startups' thoughts on public policy issues as well as their expectations for fundraising and hiring.
The SVB Asset Management Economic Report, Q2 2017, is a review of and outlook on economic factors that impact global markets and business health.
In this edition, the team discusses the U.K.’s Article 50 notice and the FOMC’s current path towards normalization. The report also examines the Trump Administration’s first 100 days in office and current business sentiment.
Four months in, 2017 is shaping up to be a year of harvesting and replanting for the innovation economy.
The SVB Analytics team examined the private-company growth propelled by the large capital raises of 2014-15
and the subsequent plunge in large investments and exits in 2016. Given the activity we’ve seen in the first
quarter of 2017, we are forecasting significant harvesting of returns resulting from the last decade of sweeping
innovations.
Key insights from Silicon Valley Bank's Startup Outlook Report. SoCal startups are fueled by a flourishing ecosystem that includes a growing number of local equity capital sources from both venture capitalists and corporate investors. While their outlook is cautiously optimistic, they continue to hire.
What does 2017 hold for the Innovation Economy? In the latest State of the Markets report, SVB Analytics took a rear-view approach, identifying the factors that mattered most in 2016 and examining which trends and themes will play out in 2017.
Silicon Valley Bank presents its eighth annual Startup Outlook report, capturing the sentiment of about 1,000 tech and healthcare entrepreneurs at a time of rapid transitions around the globe.
U.K. startups are planning for Brexit, and tech and healthcare entrepreneurs tell Silicon Valley Bank that while they are less optimistic about future business conditions compared to recent years, most plan to hire and keep their headquarters in Britain.
Silicon Valley Bank presents its eighth annual Startup Outlook report, capturing the sentiment of about 1,000 tech and healthcare entrepreneurs at a time of rapid transitions around the globe.
U.S. startups are emerging from a healthy recalibration, and tech and healthcare entrepreneurs tell SVB that while they are less optimistic about future business conditions compared to recent years, they expect to hire, see improved exit paths and plan to tap venture capital to grow.
The SVB Asset Management Economic Report, Q1 2017, is a review of and outlook on economic and market factors that impact global markets and business health.
In this edition, the team discusses the Fed's recent activity and its intentions to raise benchmark interest rates three times in 2017. The report also focuses on how the new U.S. administration will impact domestic and global economies.
Silicon Valley Bank 2017 State of the Wine Industry ReportSilicon Valley Bank
The Silicon Valley Bank 2017 State of the Wine Industry Report identifies trends and current issues facing the U.S. wine industry and offers data and observations wineries can use to develop their business strategies.
Silicon Valley Bank's wine report is based on its in-house expertise as one of the largest bankers to the West Coast wine industry for nearly 20 years, a proprietary database of more than a decade of winery financials, ongoing research, and an annual survey of 500+ West Coast wineries. Learn more at http://www.svb.com/wine-report/.
Major Forecasts for 2017:
- Wines sold between $12 and $25 will grow in demand as will high-end luxury wines with an established brand. We expect to see small price increases in these segments, with volume and price drops for bottles priced under $9.
- Premium wine sales will increase between 10 and 14 percent above 2016 levels.
- Per capita consumption faces crosscurrents with retiring wine-loyal baby boomers being replaced by less affluent millennials who are ambivalent about their alcoholic beverage of choice. If economic conditions continue to improve, however, per capita consumption should be slightly higher in 2017.
- Today, millennials are beginning to affect the lower price range of premium sales. Their presence is most visible in the $8 to $11.99 red blend category, but they gradually will shift from blends to varietal wines or imports as their incomes grow.
- Even with winery M&A facing headwinds from higher interest rates, winery acquisitions should remain quite active through 2017.
- Farm labor supply and costs are the dominant concerns in the wine business in 2017.
In our annual report on the healthcare industry, Silicon Valley Bank analyzes the fundraising, investment, M&A and IPO activity of private, venture-backed biopharma, medical device and diagnostic/tools companies.
The IPO Window Reopens:
We finally saw the IPO window crack open in Q3 2016, as proceeds from technology M&A are leaving investors flush with cash to reinvest and driving demand for IPOs and follow-on offerings.
In this third-quarter update on State of the Markets, my team analyzed investment and exit data to identify key trends impacting clients:
1. The number of IPOs exceeded private IPOs for the first time since Q2 2013, as crossover investors’ interest in large pre-IPO financings dropped off.
2. In the U.S., the pace of unicorn exits in Q3 exceeded new entrants.
3. After plummeting in the first half of 2016, values of publicly traded unicorns showed signs of recovery.
Learn more by reading the new State of the Markets report. As with any review of the markets, conditions can turn quickly. We are, however, confident that the fundamentals driving innovation will be strong through the end of 2016.
2. svb.com
Agile is how you do business. But is
agile how you run your operations?
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 2
Lean, growing companies
often focus on using the
latest tech to develop and
deliver their products…
…while their back-office
processes remain
informal and manual
3. svb.com
Using tech resources to
improve operations can
strengthen the whole business
3
Here’s how you can gain a strategic
advantage when you start by
automating accounts payable >>
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow
5. svb.com
1. Invoice receipt and entry
2. Routing and approvals
3. Payments
Target these 3 areas:
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 5
6. svb.com
• Offer suppliers a web-based
interface to directly upload
invoices or enter information.
• Eliminate time spent keying in
invoice data.
• Eliminate errors from manual
data entry.
1. Invoice receipt and entry
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 6
7. svb.com
• Use software that matches invoices
with POs and routes for approval.
• Reduce duplicate or inappropriate
payments.
• Allow finance staff to easily track
invoice status, avoid late payments.
2. Routing and approvals
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 7
8. svb.com
• Time payments precisely by pre-
scheduling electronic disbursements.
• E-pay with cards to gain transactional
data, which speeds reconciliation and
can improve procurement decisions.
• Automate virtual card number (VCN)
payments to add security and fine-
grained controls.
3. Payments
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 8
9. svb.com
Ready to plan your
paperless payables transition?
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 9
Put these items on your to-do list>>
Know your KPIs
Evaluate processes
Encourage suppliers to transition with you
Choose tools that deliver on your data needs
1
2
3
4
10. svb.com
• What’s your time – and labor cost – to
process an invoice manually?
• What percentage of available early-pay
discounts do you capture?
• What percentage of payments are wrong?
• What’s your percentage of invoice
exceptions?
Know your KPIs
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 10
12. svb.com
• Map your processes, the steps and
time involved.
• Compare your KPIs to other companies to
see biggest room for improvement.
• Identify the procedures you can
streamline.
Evaluate processes
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 12
13. svb.com
Change is an opportunity to
improve process.
13
Don’t digitize an inefficient workflow –
fix the workflow and support it with
automation.
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow
14. svb.com
• Help suppliers see how electronic
invoicing and payments saves them time
and money.
• Emphasize speed and security of credit
cards or ACH transfers.
• Consider negotiating short payment
terms with suppliers who agree to
accept cards.
• Ask your bank for help facilitating the
process.
Encourage suppliers to
transition with you
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 14
15. svb.com
You and your suppliers both
benefit if they receive payments
electronically —
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 15
but focus on payoffs to suppliers
to make your case.
16. svb.com
• Look for payables systems that provide
easy access to data.
• Ensure that formats can be ingested by
your favorite analysis tool.
• Make sure you can access the data you’re
most likely to use for evaluating KPIs and
planning procurement strategies.
Choose tools that deliver on your
data needs
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 16
17. svb.com
With better spending data
available for analysis…
17
…your company may find opportunities
to consolidate suppliers or negotiate
better terms.
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow
18. svb.com
Know your starting KPIs
so you can measure
improvements.
Evaluate processes.
Encourage suppliers to
transition with you.
18
Review:
Your checklist for
implementing
accounts payable
automation
Choose tools that deliver
on your data needs.
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow
19. svb.com
Turning accounts payable into a fully
digital process —
HowPaperlessPayablesCanStreamlineOpsandImproveCashFlow 19
Saves time and
money
Allows for
more precise
cash-flow
management
Uncovers data to
help you analyze
costs and
optimize supplier
spending
20. svb.com
Want to know more about how
electronic payments can help you
reap the benefits of accounts payable
automation?
Get advice
from the experts at
svb.com/commercial-cards/