Business buyers and sellers have personal lives, and their experiences as consumers have set up expectations in their professional worlds. Modern technology has led to a redefining of customer experience, which has become central to business transformation and a differentiator for success. All this began with technology-based companies like Amazon setting a very high bar … How to Satisfy Expectations in Vendor Relations
In Shakespeare’s Much Ado About Nothing, the slow character Dogberry has no idea what “tedious” means when the governor of Messina applies the label to him. Ask your P2P staff, however, and they’ll tell you what “tedious” means: Answering “Has our invoice been paid?” for the hundredth time this month! A central challenge in providing … How to Eliminate the Tedium in Vendors’ Inquiries
Dealing with Vendor Inquiries Has your vendor master file decreased in size? Chances are, the answer to that question is no. Not only because it’s been a while since you cleansed the vendor master file, but because your organization keeps adding new vendors. With new vendors come the same problems—inquiries about getting paid. Vendor calls … One Stone, Two Birds
When a vendor does not receive an expected payment, they contact you to find out what’s up. If payment has been late in the past, many vendors will not wait until payment is due. They’ll call to confirm that you got their invoice, or to ask when to expect payment (putting you on record). There … A Silver Lining in the Vendor-Inquiry Clouds
Are you looking to solve a problem through technology? When shopping for IT solutions, the first step is to figure out what functionality you really need. Having identified the problem, it is often helpful to talk through solutions with colleagues in your own and other organizations. Talking to vendors also can be helpful—they have expertise … Selecting an IT Solution: 7 Things to Think About
Don’t Ignore Human Psychology When someone comes to you excited about a new idea, do you immediately accept it? Maybe. Or do you perhaps want to know more first? Your first thought is how this is “good for us” or “good for the team” or just “is this good?” Or maybe — for a few … The Secret to Getting Internal Support for Vendor Self-Service
Enlightened self-interest says looking out for others is a good way to look out for us. Fundamentally a business is created to meet someone else’s needs in order to meet its stakeholders’ own, and is successful when it does so. However, occasionally we get lucky. Something we must do to look out for ourselves also … Good for AP, Good for Vendors
In every endeavor success entails analyzing problems, finding options to solve them, making decisions, prioritizing actions and execution. Problems come in all shapes and sizes. Complex challenges must be broken down into executable pieces. More serious challenges bring with them additional pressures to find options and make decisions. These days, the broad challenges included in … Is TPA (Targeted Process Automation) Low-Hanging Fruit?
Opportunities in Payables Process Technologies Don’t look now but digital technology is creeping into every corner of our lives, both personally and professionally. In business, despite the challenges and frustrations of change, it’s really a good thing. The digital age is bringing swifter communications, saving time and increasing productivity. In our personal lives, the change … Keep Moving (Technology Isn’t Waiting for You!)
Ever feel like there is not enough time? Probably all of us sometimes find our relationship to time a challenge, whether specifically at work, or just life in general. There are a lot of words written, including not a few songs, about time: saving time, capturing time, mastering time or being run over by time. … How to Add Time into Your Staff Members’ Day
Don’t Ignore Human Psychology When your spouse or companion comes to you excited about a new idea, do you immediately accept it? Maybe. Or, maybe — if you have celebrated a few anniversaries — you want to know more first. Your first thought is how this is “good for us” or “good for the family” or … The Secret to Getting Internal Support for Vendor Self-Service
What are the most common inquiries you get from your accounts payable (AP) customers? And are those questions the same ones received by other AP departments? InvoiceInfo’s new survey on AP customer service can tell us many things about AP customer service across organizations, including whether our challenges are common or not. One of the many … P2P Vendors’ Most Common Inquiries and What They Tell Us
