About this section

AP Operations is an accounting area ripe for automation, because processes typically are labor intensive. Cost barriers are beginning to disappear as enrollment, imaging and workflow solutions become more wide spread and affordable. Automation, including supplier enrollment through electronic channels and electronic invoice receipt and payment, reduces checks and paper throughout the accounts payable process chain from supplier enrollment to post-payment maintenance and support. Automation reduces your company's energy footprint and reduces business costs. Good for the environment. Good for your business.

Accounts Payable: Section 1 of 5

Hover over any topic below for more information.

This Year % Change Projected
About this section

Enrollment: Automating enrollment through electronic channels such as an enrollment portal, email or fax allows workflow engines to quickly provide and process onboarding credentials and can assist in supplier verification.

Fraud: Increasingly, Accounts Payable (AP) fraud begins at the point of supplier enrollment. Busy AP departments often do not confirm/verify enrollment credentials or if they do, they use the same channel through which the enrollment request was received (e.g. e-mail) or do not perform an alternate channel telephone verification.

Suppliers: Section 2 of 5

Hover over any topic below for more information.

This Year Next Yr Projected
About this section

Automating invoice receipt and processing can greatly improve productivity of the AP department. In the largest companies, invoice automation (electronic invoices, scanning invoices into workflow) can nearly double productivity (IOMA).

Invoices: Section 3 of 5

Hover over any topic below for more information.

This Year Next Yr Projected
About this section

The check remains the dominant form of payment form of payment of invoices (schedules and rushed), yet checks are expensive to produce, process, and reconcile and they are prone to tampering, fraud, and duplication. ACH payments are easier to embed in workflow, reconcile, avoid duplication, and are very difficult to alter. Some industry sectors have embraced electronic payments. According to IOMA, 35.8 % percent of tech sector invoice payments were made via ACH, another 5.4% were made via wire transfer or other EFT.

Payments: Section 4 of 5

Hover over any topic below for more information.

This Year Next Year
About this section

Post Payment: Much of the processing that occurs after an invoice is paid is related to checks: replacements, stop payments, reconciliation, escheatment, and duplicate check issuance. Paying with ACH Credits eliminates or reduces many of these costs, although certain types of maintenance (e.g., supplier address, bank account, etc.) may remain the same for checks and ACH Credits.

Supplier Maintenance: Maintaining supplier records is part of doing business, but typically cost a significant amount of labor and paper. Phone and manual maintenance request processing costs twice as much as more automated e-mail and fax, but together, they represent processes where paper is generated (a printed email or fax, a photocopy, etc.). Providing automated or electronic means of supplier self service, can greatly reduce both environmental and business impacts.

Post-Payment & Maintenance: Section 5 of 5

Hover over any topic below for more information.

This Year % Change Default Costs

Report Card

Summary Scorecard Reports

Business Cost Summary

Current
Scenario
Projected
Scenario
Business
Savings
 
 

Business Scenario Details

Current Scenario Projected Scenario

Environmental Savings Summary

Current
Consumption
Projected
Consumption
Environmental
Savings

Detailed Scorecard Reports

Business Cost Analysis

Current Costs Total Pre-Payment Processing Invoice Processing Payments Processing Post-Payment Processing Supplier Maintenance Acct/Service Maintenance Other Costs incl. Fraud
Congratulations! Electronic processes are greener, too. Environmental results below.
By using electronic processes, you can close this distance to the all industry median. See below.

Projected Costs

Total Pre-Payment Processing Invoice Processing Payments Processing Post-Payment Processing Supplier Maintenance Acct/Service Maintenance Other Costs incl. Fraud
Congratulations on potential progress of reducing check float! Reducing float, lowers the cost of funds.
Congratulations! Electronic processes are greener, too. Environmental results below.
Great job. Use this metric to help benchmark your progress.

Environmental Analysis

Environmental Savings

Total Pre-Payment Processing Invoice Processing Payments Processing Post Payment Processing Supplier Maintenance

Current Environmental Consumption

Your Current B2B Invoice to Pay Resource Consumption Total Pre-Payment Processing Invoice Processing Payments Processing Post Payment Processing Supplier Maintenance

Projected Environmental Consumption

Your Projected B2B Invoice to Pay Resource Consumption Total Pre-Payment Processing Invoice Processing Payments Processing Post Payment Processing Supplier Maintenance