Accounts Payable Template

The goal for many organizations is to fundamentally change the role of Accounts Payable to become more strategic—shifting it from clerical, transaction-oriented and reactive to analytical and proactive.

Global 360 has a proven Business Process Management Solution specifically designed for Accounts payable that enables firms to improve operations by:

(1) Reducing invoice processing turnaround times
(2) Automating many process steps
(3) Ensuring all related information is accessible
(4) Enabling prioritization of invoice processing order
(5) Increasing visibility and control of AP processes
(6) Providing the ability for sophisticated and flexible cash management
(7) Enabling proactive, strategic and optimized management capabilities

The Global 360 Accounts Payable Solution Template:

Global 360’s business process templates are based on the best practices of the most successful companies in their respective industries. The Global 360 Accounts Payable Solution Template provides workflows with defined capture, processing, and integration worksteps for integration via Web Services and MQ to external systems such as SAP and PeopleSoft. Each workflow can be further customized for specific processing and integration requirements. In addition to the workflows, each template provides a set of user applications and sample process management dashboards.

The Accounts Payable Template:

  • Leverages Global 360’s 2000+ customer best practices in pre-built AP workflow maps
  • Incorporates key accounts payable industry standards and benchmarks in modeling and simulation functions to serve as guidelines
  • Workflow and integrations can be easily modified and edited to meet unique requirements

The top priorities for an accounts payable department are:

1. Process invoices quickly and accurately
2. Work smart: invoices from vendors with favorable terms and early payment discounts are paid first
3. Manage cash strategically
4. Be able to provide accurate reporting/auditing for financial statements and regulatory compliance

All BPM Accounts Payable Solutions address some of these priorities, but Global 360’s solution is the only one that addresses all of them.

 

Three Tiers of BPM for Accounts Payable

Tier One Many “BPM solutions” on the market today are in fact an imaging solutions--they enable Accounts Payable departments to gain control over the myriad of documents involved in their processes by digitalizing paper documents, creating web based repositories, providing document and records management functions and data aggregation capabilities.

Tier Two True BPM for accounts payable addresses not only the document side of the house, but also workflow and rules-based management functionality that gives business users the ability determine business process workflow—including manual and fully automated tasks.

Tier Three Advanced BPM for Accounts Payable builds on tier two level BPM by adding strategic business optimization: advanced analytics, robust modeling and simulation along with goal management capabilities that give accounts payable managers the ability to leverage intelligent process management and tie together to their business fundamentals and key corporate goals.

The Global 360 Business Process Management Accounts Payable Solution Template encompasses all three tiers to directly maps to accounts payable top priorities.

 

Accounts Payable Datasheet
Find out more about the Global 360 Accounts Payable BPM Solution

Global 360 Accounts Payable White Paper
Learn more

Accounts Payable Customer Success Story
Click here to read

Related Links