Gain Insight into Your Payables

In an organization every functional area is expected to reduce operational costs and create programs that contribute to the bottom line. StoneRiver’s Joe Floss has created an article discussing how to Boost Your Bottom Line and Gain Insight into Your Payables. In the article he says that from a traditional operations perspective, much of the incremental efficiency gains have been captured in payment processing through automation efforts and increased use of ACH (Automated Clearing House) payments. Additional efficiency gains are harder to “wring out” in payment processing, so it’s time to consider a transformative change that includes cost reduction, improved business management, optimization of working capital, integration with suppliers and financial incentives. After reading the article, let us know what you think.

Share this post

Leave a comment