Overview
The Accounts Payable for SAP® solution gives you a complete picture of the entire payment process, from invoice reception to payment processing.
Accounts payable is the financial component of the purchase-to-pay process, focused on ensuring timely payment of all validated open invoices while maximizing savings through favorable payment terms and discounts.
To help you streamline your payment process and ensure timely and precise payments, this solution focuses on three critical performance indicators: invoice cycle time, days payable outstanding, and first time right.
Benefits
- Measure the efficiency of the accounts payable department
- Identify late payments and understand the symptoms or patterns
- Process invoices before cash discount due dates are missed to save cost
- Reduce lead times by identifying bottlenecks at each stage: invoice posting, approvals, goods receipts, and so forth
