During 2011 PaperLess have been reading with interest the research undertaken by the Scott Pezza at the Aberdeen Group to discover what the most successful companies do in their financial operations to set them apart from other companies.
During this valuable research Scott consistently discovers the practical steps that companies can take in order to reach the level that “Best In Class” companies achieve.
The reports from the Aberdeen Group are easy to read and get straight to the point and although they have a normal price tag of $399 , some reports can be downloaded with no cost.
Scott Pezza Aberdeen group paperLessIn a recent interview Scott Pezza from Aberdeen Group said “in the first half 2011, we have explored key components of financial operations on both the buy-side and sell-side of trading partner relationships. In the payables arena, I began with Invoice Receipt and Workflow, a study that looked at how buying organizations drive down processing costs and improve enterprise visibility to data while managing incoming invoices. As always, my focus was on finding those attributes (organizational structures, procedural guides, technology implementations, etc.) that served to differentiate top-performing companies from their peers.
How is it that one class of companies can move an invoice from receipt through payment scheduling in under four days, while another class takes upwards of two weeks (or longer)? How can one group achieve average invoice processing costs of just over € 2, while others struggle to bring costs below € 15? There is no one best path, and there is no single solution that brings with it AP perfection. It is a combination of clear policies, standardized processes, streamlined responsibilities, and supporting technologies that lead the way.”
Scott Pezza is now starting a new research paper on E-Payables 2011: Efficiency, Visibility, and Collaboration in the Financial Supply Chain, which will be published on September 1st, 2011.
This is an opportunity for you to contribute to this study and receive the report which is worth several hundred dollars at no cost when it is published.
Scott says “of course, invoice processing is but one component of AP’s mandate. My current study takes a more holistic look at E-Payables, covering not only invoice processing but also payment and post-settlement audit. I am always looking to understand what pressures organizations are facing and what they have done (or plan to do) to address those challenges. If you are an AP or Finance professional, I would encourage you to take a few minutes to contribute to this latest research effort. To thank you for your time, I will provide you with a complimentary copy of my final study, which will publish at the end of August.”
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