Last week was IOFM's Spring AP Conference & Expo. One of the many fantastic workshops was a panel discussion on Keeping your A/P Automation project out of the ditch. Here are a few notes that I tweeted at the time, just to give you a sneak peek!
There's no better source of information on how to keep yourself out of a proverbial ditch than your peers! - Mark Brousseau
STP: straight through processing rate
Be honest with AP Automation vendor: how many invoices do you really process, what is your real budget.
"First we cut the fat, then we cut the muscle". -Rock Persuad,APM
Don't automate bad processes. Garbage in garbage out -Ed Bilkerdyk, APM
Using Kofax we now have 85 - 90% of invoices coming in as emails. -Mary Courtright, APM
Director of Social Media
Accounts Payable Professionals Group (APPG)