I came over a July 2016 study entitled “Small Shippers Playing Payment Catch Up: Transportation Payment Benchmark Study” by American Shipper https://www.americanshipper.com/Main/Reports.aspx Even though the study is about freight shipments, its’ relevance to all types of Payable is unquestionable. What I took from the report in summary:   Ready to…

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1.  Ascertain “Accurate” profit:   When Operation Department close “files”, profit is determined using accrued costs based on quotes received from vendors. This profit then is the “Potential” profit and not the “Accurate” profit. To determine the “Accurate profit”, bills received from vendors have to be matched and reconciled against…

How can Automation save 40% to your bottom line? Are you curious about automation and how it can save your department and organization money? To understand automation and the benefits, it’s important to understand the baseline accounts payable process. Let’s begin with one of the standard and manual accounts payable…