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Accounts Payable & Purchasing Processes Summit As part of its Shared Services series, SSON is proud to announce the return of Accounts Payable & Purchasing Processes Summit taking place in Singapore in March 2012
Increase accuracy and performance within AP and procurement to enhance value from suppliers and service providers
P2P authorities expect that in the years to come, majority of their peers will go towards 100% automated processes. And this isn’t just on the finance side. An industry insider who declined to be named explains that the need for a global expert to handle end-to-end process and business partnering is critical. The reason being that technology advances but if the business is not buying those solutions, it will be unsuccessful.
Learn how you can get your suppliers to participate in e-invoicing for a 360° paperless process here
Martin Yii, Controller for Sealed Air Corporation’s Australia/New Zealand Financial Service Centre, has been able to increase productivity in his accounts payable by incorporating Lean Six Sigma.
“LSS helps to identify the process or document flow. For e.g. an invoice can come in and be handled by multiple people before it gets to the Accounts Payable clerk. LSS helps to clarify the root cause(s) for those multiple touch point. In some cases, you can reduce the number of touch point, in some cases you change the input to your process so to eliminate certain flow. This will free up resources to do other more productive tasks,” explained Yii.
Find out how Six Sigma can transform your accounts payable department here
Accounts Payable and Procurement: Say Goodbye to Paper in 2012
Automation is familiar word to many AP professionals. However, the complete end-to-end transformation of AP processes has not yet taken place in every organization. With many of the “cheaper” suppliers still dependent on hard copies, local regulations not supporting e-invoicing and legacy payment systems not integrating with automation software – is it any wonder that 100% automation seems like a dream?
Last year we asked Finance Directors, Controllers and Heads of Procurement to measure the cost of their purchasing processes and here are the results:
As you can see from these results, about 35% of those surveyed saw rising costs and every 1 in 5 organisations felt the cost of their AP processes was too high for their business to sustain.
Fortunately, there are already a few pioneers who’ve set the benchmark to be 100% automated and achieved value far beyond daily routine AP processes, and whom now have the freedom to concentrate on innovation within their functions.
Still think the cost of your AP function is too high? Do something about it. Discover how you can also boost accuracy and performance in your payment processes whilst streamlining costs!
In 2012, 9th Annual P2P: Accounts Payable & Purchasing Processes Summit will give you the tools and techniques to:
- Get closer to becoming 100% automated and achieve accuracy with less than 1% error rate
- Leverage on supplier discounts with early payments (30 days or less)
- Reduce PO and invoice processing operational costs by 40%
- Beat KPIs and use newly learned analytical skills to increase process workflow and expand services
- Achieve less than $2 as your cost of transaction
Shared Services & Outsourcing Network (SSON)
About the Shared Services & Outsourcing Network (SSON)
The Shared Services & Outsourcing Network (SSON) is the largest and most established global community of over global community of shared services and outsourcing professionals with a presence in over 95 countries. We provide the roof under which key industry experts and organizations share their experience, knowledge and tools, and your practitioner peers connect with other all over the world, face to face and online.
SSON focuses on developing its members through providing face to face training, tools, and networking opportunities in major cities around the world, including: New York, London, Singapore, Stockholm, Sao Paulo, Sydney, Berlin and Dubai. ...find out more »