Transform AP and Increase Cost Elasticity for Business Benefit!

Transform AP and Increase Cost Elasticity for Business Benefit!

January 25, 2016  |  Adoption, Invoice Automation

Post by Invocus – Elasticity simply indicates how responsive one economic variable is in relation to a change in another (Wikipedia). Thus cost elasticity stands for how easily costs respond to some factor. And if that factor is in Accounts Payable’s control, and they can turn that into a business advantage, then that’s something!

Accounts Payable can Help Reduce Cost of Production

This is where we would like to bring in the concept of ‘Early payment discount’ opportunities. Yes, costs can be more elastic – and that too favorably – if only we can help our AP function process invoices fast enough to capture the discounts. And when suppliers are happy and satiated, they will also consider giving us better pricing for they will know, that we care for their liquidity needs. Isn’t that a wonderful win-win situation? Let’s look at how Invocus makes that happen.

Invoicing Integrated with Contracted Payment Terms– Every vendor contract or supplier contract is linked with payment terms on the supplier eInvoicing portal. This ensures that when the suppliers send over the invoice, AP folks automatically get notified about the discount payment terms and the discount due date from the system, without having to sift through a single paper! This integration ensures easy tracking and encourages proactive actions for capturing those monies.

Invoice Processing Acceleration Notwithstanding Exceptions – Be it PO invoices or Non-PO invoices, be it correct invoices or exceptions, be it goods or services, be it out of office employees or work-from-home AP coordinators, we cover it all from matching through approvals. The awesome AP folks have to just direct the system to do what they want. And we take care of the rest, including the smile of assurance on the faces of their suppliers, when they see the money coming in on time.

Want to take a look at their super cool Portal-based Touchless eInvoicing Suite?

Go ahead, and drop Invocus a demo request! Book an Invocus Demo Now!

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