Many organizations believe that savings originate from a good contract. However, all that results from a good contract is a negotiated rate, not an actual rate. Savings only materialize if the contracted rate is the rate that is actually paid by the organization. The rate needs to be updated in both the supplier billing system and in whatever system the organization uses to track contracted rates, and accounts payable (A/P) has to insure that the rate paid is the correct one.
Reframing Accounts Payable — A Function in Need of More Than Botox
I believe accounts payable (A/P) is a sector, and profession, in dire need of a remake to get the respect and attention it deserves, similar to how procurement has been gathering steam for well over a decade. Why? I’ll share a few quick thoughts and invite others to chime in.
Middle Market companies represent enormous opportunity for P2P & AltFin
Last week I wrote a piece around how the middle market struggles to find a fit with eInvoicing. A recent study by HSBC Hidden Impact […]
Does the Middle Market Understand how E-Invoicing Fits?
I’ve recently talked to a number of companies under $1 billion and know how much they struggle with creating a digital world for their supplier ecosystem. They […]