1. Articles in category: Invoicing & Payment

    1-24 of 107 // 1 2 3 4 5 »
    1. Purchase to Pay and the challenges of matrix management

      Explore purchasinginsight.com (Jan 19 2014)

      Purchase to Pay and the challenges of matrix management

      Ask anyone who knows what they’re talking about – go to any conference on Purchase to Pay and you’ll hear the same thing: The biggest challenge to making P2P work is the disconnect between finance and procurement. There are fundamental differences between the way finance and procurement see purchase to pay and getting alignment is not straight forward but there’s another reason why, for some organizations it is a challenge and that is their organizational structure.

      (Read Full Article)

    2. Statement by Mike Moriarty, DA spokesperson, on only 15% of suppliers paid on time

      Explore Polity.org.za (Nov 18 2013)

      Statement by Mike Moriarty, DA spokesperson, on only 15% of suppliers paid on time

      Despite all efforts and a House resolution requiring timeous payments to suppliers, the Gauteng Provincial Government is still a huge drain on the cash flow of most businesses in Gauteng.

      In a reply to Moriarty's question it was revealed that as of September 2013, only 15.39% of supplier invoices were paid on time. The provincial government claimed it was paying suppliers within 37 days on average and not the 30 days required by law.  This is not comforting to those 84.61% of companies doing business with the province, who collectively were owed R374m at the time when ...

      (Read Full Article)

      Mentions:   Gauteng

    3. Supplier side benefits of e-invoicing

      Explore purchasinginsight.com (Nov 14 2013)

      For years the growth in the use of electronic invoicing was hampered by a very simple fact. There was nothing in it for suppliers.

      But the world has now changed and the business case for e-invoicing is now fundamentally different to the one-sided calculation with all the benefits loaded on the customer side that would have been built perhaps 5 years ago.

      (Read Full Article)

      Mentions:   Ariba

    4. Purchase to Pay – getting the messaging right

      Explore purchasinginsight.com (Nov 12 2013)

      The purchase to pay police aren’t naturally an attractive bunch of people. Like auditors, they only bring ugly messages about compliance and process. And they don’t make their lives easier by tarnishing further their image by moaning about their lot. So how do you get the perfectly rational P2P messages across effectively? How do you prevent it from being perceived as a pointless dictat from an area of the business too remote to understand commercial realities?

      (Read Full Article)

    5. OB10 listing - it gets even more interesting

      Explore purchasinginsight.com (Sep 4 2013)

      The news that OB10 is to go public broke last night – actually a little prematurely – but now it’s official and Tungsten and OB10 have announced their intentions. Pete Loughlin spent 20 minutes on the phone with a delighted Luke McKeever, OB10′s CEO, to understand the details of the deal that values OB10 at £99 million.

       

      (Read Full Article)

    6. e-Invoicing – high-touch enrollment of suppliers

      Explore purchasinginsight.com (Aug 27 2013)

      It’s not easy to find real best practice advice for e-Invoicing and supplier enrollment. This extract from The Supplier Engagement Handbook describes recommended steps on how to offer suppliers that send a high volume of invoices or have complex organizations a more consultative enrollment approach.

      Accurate contact details

      Before starting a communication effort, it is important to have accurate contact information. Ideally, this includes up-to-date details for sales contacts and the people in billing and collections. No one is happier to accommodate your needs than your sales contacts; use them to your advantage.

      Compelling communications

      Creating a comprehensive ...

      (Read Full Article)

    7. UK MoD audit reveals £11 million overpayment to suppliers

      Explore supplymanagement.com (Aug 20 2013)

      The UK Ministry of Defence (MoD) overpaid suppliers to the tune of £11 million in the previous financial year, an audit has revealed. Officials found duplicate and overpayments for common goods and services such as stationery were behind the overspend. The MoD’s ‘spend recovery audit’ was carried out as part of work to cut government error and fraud, which saw £6.5 billion cut from public spending last year. All government departments will be carrying out spend recovery audits.

      (Read Full Article)

      Mentions:   CIPS

    8. Learning the language of the balance sheet

      Explore Procurement Leaders Network (Aug 15 2013)

      CPOs of the future will need to understand the pressures and requirements of the CFOs so that they may refuse them.  According to research by the IACCM, average payment terms was 57 days a few years ago. This has risen to over 60 in a forthcoming study. Is this a procurement-policy or a finance-forced initiative?   The explanation to this can be partly attributed to the continued uncertainty that businesses feel about the tepid recovery. Indeed there is many that believe that the financial crisis persists.

       

      (Read Full Article)

      Mentions:   USA

    9. The best solutions are those that solve a problem you never thought you had

      Explore purchasinginsight.com (Jul 5 2013)

      Sometimes, great ideas just never take off because some prerequisite solution to a problem hasn’t been solved. E-procurement was a great idea in the 1990’s but until the internet was ubiquitous and trusted, it was slow to take off. Looking back, the trust and ubiquity grew quite quickly but in 1996, if we had a crystal ball that said it would take the best part of a decade to become an established way of doing business, I wonder whether we’d have given up. We didn’t know that the problem was trust and ubiquity until it was ...

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      Mentions:   London

    10. What Users Want – Making People the First P in P2P: Part 1

      Explore zycus.com (May 8 2013)

      What Users Want – Making People the First P in P2P: Part 1

      Benchmarking from the Aberdeen Group’s 2010 “Effective e-Procurement” found that on average, 16% of all transactions that start in the e-Procurement system actually get completed outside the system. This implies that even though the users intended to use the e-procurement system, they eventually opted out and continued with their transaction elsewhere.  This brings us to the question, why do majority of the Procure to Pay initiatives fail when it comes to the metric of user adoption rate?

       

      (Read Full Article)

      Mentions:   Aberdeen Group

    11. Social media - the new weapon to combat late payment

      Explore purchasinginsight.com (Feb 15 2013)

      Everyone knows that times are tough and times are toughest for small businesses. They’re faced with obstacles that can seem insurmountable – paperwork, regulation working capital costs. But there’s one obstacle above all others that can strike fear into the every small business – the late payer. They are a scourge. Over years, an obsession with the optimisation of DPO (that’s accountant-speak for funding your business at the expense of your smaller, weaker suppliers) has become a central financial strategy for many large organisations.

      (Read Full Article)

    12. e-Invoicing and how it helps to prevent payment fraud

      Explore sharedserviceslink.com (Feb 8 2013)

      e-Invoicing and how it helps to prevent payment fraud

      It is a fact that instances of payment fraud in business are on the rise. And alarmingly, many businesses are clueless that some employees and suppliers may be 'helping themselves.'  In this article, we will examine purchase invoice fraud and see how receiving invoices from suppliers electronically can actually prevent it. We will start off with the various sub-types of purchase invoice fraud that companies may be inadvertently overlooking, and then show how electronic invoicing can address this problem.

       

      (Read Full Article)

    13. That was Then, This is Now: The Power of P-card

      Explore Spend Matters (Feb 7 2013)

      There used to be a stigma associated with making purchases using credit. This invariably affected attitudes towards using a purchasing card or P-card as payment method within organizations as well. Some companies placed so many controls and stringent approval requirements around the usage of P-cards that employees avoided this payment method altogether. Other companies were lax in their P-card policies and ended up in situations where employees placed inappropriately large purchases on their cards.

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    14. Implementing e-invoicing – what could possibly go wrong?

      Explore purchasinginsight.com (Jan 18 2013)

      Implementing e-invoicing – what could possibly go wrong?

      Everyone agrees it seems. The case for implementing inbound e-invoicing is compelling. It is a simple matter of common sense. Replacing an inefficient paper process with an automated electronic process will generate savings and in the current economic environment, who would argue that it was not a good idea? It isn’t even that technically complex. What could possible go wrong? Well for a start – getting buy-in from the business. 

      (Read Full Article)

    15. Glaxo supplier payment terms criticised

      Explore Procurement Leaders Network (Jan 14 2013)

      Glaxo supplier payment terms criticised

      British newspaper, The Daily Telegraph, uncovered that GSK has begun extending its payment terms from 60 days at the end of last year to 90 days, a move which Phil Orford, chief executive of the Forum of Private Business said shows ’scant regard’ for small suppliers. One GSK supplier who spoke to The Daily Telegraph anonymously said: "This kind of borrowing from suppliers – whatever their size – is scandalous."    

      (Read Full Article)

      Mentions:   Dell

    16. Sandvik tightens supply chain with single supplier e-procurement portal

      Explore ComputerWeekly.com (Dec 3 2012)

      Sandvik tightens supply chain with single supplier e-procurement portal

      Sandvik, a global Swedish mining and construction engineering company, has simplified its supply chain with a single purchase order portal. This has created information not previously available to make decisions about supplier relations, such as renegotiating contracts. Dubbed SupplierConnect internally, the system, from Finland-based data integration supplier Liaison Technologies, has saved Sandvik “a lot of time and money” according to programme manager Lars Holmström.

      (Read Full Article)

      Mentions:   China   Singapore

    17. Departments told to abide by 30-day rule

      Explore BDlive (Nov 8 2012)

      Departments told to abide by 30-day rule

      Government departments are to be closely monitored to ensure they pay suppliers within 30 days, says Minister in the Presidency for Performance Monitoring and Evaluation Collins Chabane.  Failure to abide by this requirement of the Public Finance Management Act has previously caused severe liquidity problems for small businesses, with some having to shed jobs and close down.

      Civil engineering company Sanyati went into liquidation earlier this year after a business rescue plan was terminated. It blamed its financial woes on the Free State government’s prolonged nonpayment for work it had done for the province.

      (Read Full Article)

      Mentions:   India   Brazil   Russia

    18. Treasury sets up dedicated system to monitor timely payments

      Explore BDlive (Nov 7 2012)

      Treasury sets up dedicated system to monitor timely payments

      Minister in the Presidency Collins Chabane says Treasury will ensure national and provincial departments pay service providers within 30 days.   A dedicated system will be set up in the Treasury to ensure national and provincial departments pay service providers to the state within 30 days, Minister of Performance Monitoring and Evaluation in the Presidency Collins Chabane said at a post-Cabinet media briefing on Thursday.  Failure by government departments to adhere to this rule has created severe liquidity problems for business, especially small enterprises.

      (Read Full Article)

      Mentions:   India   Brazil   Russia

    19. Get to Know Your Colleagues in AP

      Explore mypurchasingcenter.com (Oct 30 2012)

      Get to Know Your Colleagues in AP

      How often does Procurement talk to Accounts Payable? At some world-class companies, the two have a close relationship. When Heidi Landry-Chan assumed her post as Vice President and CPO at Dow Corning to transform the procurement operation there she understood the value of the two functions working together. For Landry-Chan, it simply makes sense for AP to report to Procurement since Procurement is responsible for the procure-to-pay process.

      (Read Full Article)

    20. Payment terms are part of SRM

      Explore Procurement Leaders Network (Oct 29 2012)

      I wrote recently about the importance of paying suppliers on time, or, at least not burdening suppliers by extending days payable to dangerous lengths. Understanding the payment schedule better, however, means taking a closer look at the buyer-supplier relationship. To find out more about how leading procurement executives view the issue, I contacted Scott Forbes, who heads procurement for EP Energy.

      (Read Full Article)

    21. E-procurement to become the rule for UK public bodies by 2016 according to the European Commission

      Explore sharedserviceslink.com (Sep 5 2012)

      Electronic invoicing software provider, Version One, is urging UK public sector bodies to ditch paper invoices in favour of e-invoicing by 2016 to help comply with European Commission proposals.

      (Read Full Article)

      Mentions:   Ford

    22. The purchase to pay burning platform

      Explore purchasinginsight.com (Jul 30 2012)

      There are two significant business solutions that are gaining traction globally: AP automation solutions such as e-invoicing and supply chain finance and businesses that overlook these opportunities could pay a very high price. For years there has been more hype than reality about e-invoicing but the reality has now taken hold.

      (Read Full Article)

    23. Critical success factors for e-invoicing implementation DHLs lessons learnt

      Explore sharedserviceslink.com (Jul 27 2012)

      At a recent conference, e-Invoicing Europe 2012, Gabrielle Philippens, Senior Process Consultant at DHL, discussed the critical success factors for DHLs journey to implementing electronic invoicing.

      (Read Full Article)

      Mentions:   DHL

    24. FTSE 100 companies challenged to pay on time

      Explore sharedserviceslink.com (Jul 17 2012)

      The late payment of invoices can have a crippling effect on small businesses, particularly at a time when the economy is in recession and consumers are reining in their spending

      (Read Full Article)

    1-24 of 107 // 1 2 3 4 5 »