In the cost-driven business environment that exists today companies are always looking for a competitive edge. This invariably means looking at the fixed costs associated with back-office operations and driving efficiency initiatives to get more “blood out of the stone”. Doing more with less is a common philosophy and process automation is one of the key objectives to achieving a lean business.
In Accounts Payable the ideal scenario is to achieve straight through processing (STP) of supplier invoices. This will reduce labour costs and enable increased volumes to be handled efficiently. But, is it achievable and is it right for you? This guide highlights the major points you need to consider before embarking on the search for this Holy Grail.
The objective of this paper is to provide the reader with a clear understanding of what ‘Straight Through Processing’ is, how it can be of benefit and what to consider before implementing a solution.
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