Introduction We’re all familiar with the statement that “what’s measured improves”. Internal and external customers for the Accounts Payable process are willing and able to provide detailed information about problems that exist from their perspective, but many companies don’t have good methods or techniques in place to track these issues and related corrective actions. Including […]
Introduction Shared Services work processes, like Accounts Payable (P2P) have hundreds of detail work steps and many required policy differences depending on the type of supplier, negotiated terms, industry standards and legal or regulatory requirements. As companies work to implement the most efficient processes possible, understanding the details for how other peer companies handle similar […]
Introduction By definition, dramatically changing or reengineering a process requires looking at the entire process from end-to-end, and not focusing only on parts of a process that reside within a functional area or within a department. The challenge often comes from the difficulty with getting a significantly high enough level of sponsorship and funding to […]
Introduction Simplifying and streamlining Accounts Payable processes is best accomplished with multiple approaches that are closely coordinated and prioritized. For example, while getting electronic invoices from suppliers might be achievable for a large percentage of your production related invoice volume, you may need to add portal solutions that support supplier invoice submissions as an approach […]
Introduction The concept of self-service technology for Shared Service processes has been around for decades, with the greatest penetration for Employee Services applications for the creation, updating, and distribution of employee related information, with other efforts related to call center support, including supporting vendors for basic requests to answer question regarding payment status and payment […]
Introduction A few weeks ago, Shared Services organizations were comparing approaches for responding to the COVID-19 pandemic, and this week Peeriosity will facilitate a panel discussion with Peeriosity members on a Peeriosity PeercastTM featuring leading member companies sharing ideas and answering questions about Shared Services delivery with the emergence of COVID-19. This “for members only” […]
Introduction To create an efficient and low-cost process for Accounts Payable, standardization and new technology tools can only get you so far. The biggest factors tend to be the quality of the inputs to the process, including clean processes and procedures for goods and materials purchased by teams of professional purchasing agents, to efficient processes […]
Introduction A key part of any Accounts Payable control structure is the ability to minimize duplicate payments. Even with all the integrated controls of the major ERP systems, companies continue to find it necessary to supplement ERP functionality with other technology solutions and outside audit recovery firms. Company Experience During a recent Peeriosity PeercastTM, a […]
Introduction As external service providers continue to improve their service offerings, more companies are including outsourcing as an important part of their overall strategy for Purchase-to-Pay. With the significant introduction of Intelligent Automation at many outsourcing providers, their capabilities have increased substantially allowing them to provide a service offering that is effective both operationally and […]
Introduction Many are familiar with the book, Reengineering the Corporation, by Hammer and Champy, published in 1993, that cited Ford Motor Company’s ability to eliminate 75% of their AP staff by implementing Evaluated Receipts Settlement (ERS) as an example of the fundamental rethinking and radical redesign companies must undertake to drive large scale improvement. While […]