Achieving best-in-class status doesn’t just happen. Corcentric’s most popular webinar will reveal how successful AP teams get to that level.
In the business world, there are always the leaders, the followers, and those who are falling far behind. It’s not a matter of good or bad luck; it’s a matter of good or bad habits. Best-in-class accounts payable department have some significant good habits that set them apart.
That’s why, at the request of our readers, followers, and customers, Corcentric is offering, once again, one of our most popular webinars, “5 habits of highly successful accounts payable departments.” This is an opportunity to see how dedication, hard work, discipline, and a well-thought out plan of action can make a tremendous difference.
So what are the five valuable habits that leading AP departments practice regularly that allow them to maintain their best-in-class status? What do these winners do?
- Develop clear policies of invoice workflow – Too many companies have made their workflow look like the Paris metro with authorization and invoice flow going off in multiple directions. Best-in-class companies implement practices that transform and simplify that workflow.
- Get buy-in from senior management – You won’t get anywhere if you can’t get support from those responsible for budgeting and approving projects. But getting that buy-in means presenting a compelling business case to prove your point.
- Create system-level controls – Successful AP departments turn to automation for their invoice approval process. That’s because they know that automation provides enhanced controls and clear audit trails for invoice processing.
- Use technology more effectively – It’s more than just automating the process. Best-in-class companies identify all of the tools they need to be more effective. In fact, those leading companies are twice as likely to use technology to automate technology and workflow.
- Access and utilize information from dashboards – You can’t improve what you can’t measure, so best-in-class companies choose to work with solutions that give them not only visibility into invoice status and history; they want a solution that provides the dashboards necessary to measure key performance indicators and identify inefficiencies and impediments to productivity.
Join Rob DeVincent, Corcentric’s Vice President of Product Marketing, as he hosts this informative and popular webinar on Wednesday, March 23, 2016 at 2 PM, ET. This webinar will be immediately followed by a demo of Corcentric’s COR360 advanced AP solution.