Manual processing and paper invoices continue to hamper accounts payable operations. Keeping suppliers in the dark and failing to provide finance the visibility it needs to actively manage the enterprises’ cash positions is still the case in most of the organisations in Asia. To strive for maximum savings through discount capture, penalty avoidance, and lower labour costs, tight linkage between procurement and payment is critical – regardless of whether the work is done internally or outsourced. The key to optimise the P2P process is minimising the number of “touches” along the invoice journey.

Therefore, to achieve the best-in-class performance and drive efficiency, organisations must:

• Quantify the potential challenges and benefits of automating P2P process to make the project for investment
• Identify and implement strategies for maximising supplier collaboration through incentives, facilitating technologies and effective on-boarding
• Look beyond accounts payable to maximise benefits by integrating with procurement, finance and other back-end systems

Download the brochure for 10th Annual P2P Asia 2013 to find out more

Within Asia alone, there are more than 600 shared services centres processing over 1,000,000 invoices daily. With integration being a key driver for large organisations having offices situated in various locations, integration procedures have become a MUST. But the big question everyone is still asking is, “What are the specific and applicable strategies to optimise procure-to-pay process? And what is the future for AP and procurement functions moving forward?”