Is your Accounts Payable (AP) team struggling to keep up with a surge in supplier inquiries and disputes? Many AP departments are overwhelmed by the increasing volume of automated disputes and invoice inquiries, leading to backlogs, strained resources, and unnecessary repayments.
Why AP Teams Are Struggling
While the rise of automation has streamlined processes, but it has also made it easier for suppliers to generate disputes automatically. While some of these disputes are legitimate, many are not, and they clog up your workflow, creating inefficiencies and frustration.
These ongoing issues don't just impact your AP team—they ripple out to finance and shared services, causing delays, increasing costs, and damaging supplier relationships. It's a growing problem that demands a strategic solution.
Discover the Solution: A 5-Point Plan
If your team is drowning in disputes, it's time to take action. Our new report, "Stem the Tide of Inquiries and Disputes in AP: Your 5-Point Plan," provides actionable insights to help you regain control. This report outlines strategies that can lead to:
• A 25-40% reduction in erroneous repayments
• A 50% decrease in supplier inquiries
• A 10x-30x return on investment
With input from industry expert Patrick Kelly, Chief Data Intelligence Officer of PRGX, this guide offers a comprehensive approach to resolving AP challenges.
What You’ll Learn
In this report, you’ll discover five key strategies to streamline your AP processes:
- Embed Built-in Governance: Learn how establishing clear rules and workflows can prevent disputes from spiralling out of control.
- Drive Vendor Self-Service: Explore how a self-service portal can reduce the volume of inquiries and give suppliers full visibility into their payments.
- Leverage AI and Machine Learning: Discover how advanced technologies can handle routine inquiries and flag dubious disputes before they become a problem.
- Use Systems for Monitoring and Reporting: Understand the importance of visibility and how monitoring can help you spot systemic issues before they escalate.
- Enhance the Supplier Experience: Find out how fostering a collaborative relationship with suppliers can reduce conflicts and improve overall efficiency.
This report is a practical, step-by-step guide to transforming your AP process. By implementing the strategies outlined, you'll not only reduce your workload but also enhance the overall health of your business.
Take Action Now
Don’t let your AP team continue to struggle under the weight of unnecessary inquiries and disputes.
The report also includes a case study about how a top 15 US retailer reduced deductions by 75% and improved dispute resolution cycles by 80% by following the 5-point plan.
Download Now to transform your AP department and regain control of your workflow.
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