How Best-in-Class Performers Are Taking a Strategic Approach to Wringing Costs Out of Accounts Payable

The strategic importance of accounts payable is on the rise, and Best-in-Class enterprises are automating the function to achieve surprising benefits. A new study by Aberdeen Group of more than 150 enterprises shows how a mastery of tactical elements when invoices are received and approved can lay the foundation for A/P's contribution to the greater enterprise.

This white paper provides guidance on overcoming the challenges of moving from a paper-based system to an automated system, as follows:

• The two key performance criteria to distinguish Best-in-Class enterprises from Industry Average and Laggard performers;
• The six most important impediments to A/P automation;
• How lack of decentralization of processes undermines effective A/P systems;
• A case study that illustrates the underlying capabilities of organizations that achieve Best-in-Class performance on A/P;
• The five key performance level categories that distinguished Best-in-Class enterprises;
• The six most important technology choices made by Best-in-Class A/P performers;
• How requirements for improvement in A/P differ among Laggards, Industry Average, and Best in Class performers.