BTerrell Group Blog

How to Overcome Accounts Payable Challenges - Part 1

Posted by Meredith Gooch on Thu, Sep 25, 2014

Accounts Payable challenges regulary include the areas of invoice receipt, data extraction, invoice matching and exception handling, and approval workflow. Sound familiar? A common theme with these Accounts Payable processes is that they rely on paper and people, and many companies are finding that adding staff doesn't always solve the underlying problem. Manual processes are not only expensive and inefficient, but they also increase the change or errors and expose companies to many risks. Here are a few examples of Accounts Payable issues:

ISSUE IMPACT

Invoice processing cycle time

  • Delays in posting expenses
  • Waste of cash (inability to capture early payment discount, late payment penalties)
  • Damaged relationships with suppliers
No automatic validation
  • Overpayments for billing errors
  • Duplicate payments
  • Tax errors
Lack of process visibility
  • Difficulties in budgeting, planning, and forecasting
  • Lack of control and higer risk impacting audit standards compliance
  • Challenges for accurate and on-time closing
  • Difficulties in responding to vendor invoice status inquiries
Invoice processing costs
  • Invoice dispute resolution
  • Exception handling
  • Escalation and approval of problem invoices 

Check back soon for Part 2 of this topic where we'll go into more detail of how to rectify these problems with a simple solution.

Tags: Accounts Payable issue, invoice receipt, data extraction, invoice matching, exception handling, approval workflow, Accounts Payable challenges

What happened to my Accpac?

Posted by Meredith Gooch on Mon, Oct 22, 2012

Sage renamed all of the Accpac products:

o       Sage ERP Accpac 100 is now Sage 300 Standard ERP.
o       Sage ERP Accpac 200 is now Sage 300 Advanced ERP.
o       Sage ERP Accpac 500 is now Sage 300 Premium ERP.

Sage now has a simpler way to present the increasing levels of product capability available to you. Like luxury automobiles, the numbers associated indicates the sophistication level of the product. For example, a BMW 135 has fewer features than the 5 series.

 

So Sage renamed its core product offerings under the Sage 50, Sage 100, Sage 300, and Sage 500 banners, which in turn helps simplify finding additional Sage solutions that are the right fit for your business, when and if you need them, at any stage in your business growth cycle.

Contact Anthony Cox for more information at 866-647-2611 ext 127 or email anthony.cox@bterrell.com.

Tags: Sage Accpac ERP, accounts payable, Accounts Receivable, ERP Accpac, ERP, Accounts Payable challenges, Accpac Accounts Payable, SageCRM for Accpac