A large number of respondents set credit terms to credit days, but as you can see from the infographic below, only 31% get paid within that time. So really, are these credit terms meaningful?
So the question becomes, why state 30 days when it takes longer to actually get paid?
Continue reading Are Credit Terms Meaningful?
Purchase order processing and supplier invoice automation are both available in OnePosting and I am often asked which should be implemented first. Personally I believe that invoice automation should be implemented before purchase order processing for reasons outlined below, but that is not a view universally shared by my colleagues in OnePosting.
It is also something that divides people that I meet. Some are adamant that purchase orders start the purchase to pay process and as a result, this is where automation should begin. I have to admit that a smaller number of people suggested that electronic invoicing should be first as it is easier to implement.
There are vary valid points on both sides of this argument that I am going to explore in this article and leave it to you to decide what is best for your specific circumstances.
Continue reading Which to Implement First: Purchase Orders or Invoices?
Whenever supplier invoice automation is mentioned, peoples’ first reaction is often to groan and think of all of the work that lies ahead, especially the IT work.
After all, most IT deployments involve lots of heartache, take a lot of effort, cost more than anticipated, and take longer than planned.
So why should the service from OnePosting be any different?
Continue reading No IT Project Needed!