In purchasing processes involving orders, there is generally no invoice approval cycle, as there is usually prior validation/approval of the order and segregation of duties in the receiving process. In these invoice processes with...
The Accounts Payable department is responsible for processing invoices received from third parties. The ultimate goal is to record them in the accounts, but for a significant percentage of invoices, reaching that point requires many steps beforehand. Processing an...
Once the company has recognized the need to make the Accounts Payable department more efficient by using a tool that is suitable for the invoice workflow, it is important that the implementation process for this solution takes place within...
In the Accounts Payable department, it is well known that the purpose of a supplier invoice is to be recorded in the accounts, and all improvements we introduce into the supplier invoice process must be aimed at reducing the cycle of...
Often, companies are interested in automating accounts payable and even undertake the implementation process without having a clear and meaningful vision of what their AP process will look like from that point on and how it will affect their...
The accounts payable process is, in most companies, an eminently manual process that consumes a large number of resources, as it is estimated that an AP employee processes an average of only 10,000 invoices per year. Added to the problem of productivity and...
Last week, the Council of Ministers approved the reform of the Capital Companies Act, which stipulates that companies that do not comply with the maximum legal payment period of 60 days must explain the reasons why and what measures they will take...
Within the accounts payable process, recording supplier invoices is a very resource-intensive task. In the purchase order invoicing process, it accounts for more than 65% of the department's resources. Automating the process involves establishing procedures...
Historically, in the process of accounting for supplier invoices, the only time variable considered has been the payment date. Provided that the tasks of accounting for and recording invoices are completed before the due date, normally 30 or 60 days...
