Aravo's AP clients often tell us that they are being challenged to reduce costs while providing higher levels of service. Meanwhile, many AP departments are finding that at least 20% of supplier spend is off contract, labor costs and lost productivity have blossomed thanks to the hassles of managing erroneous supplier payments, and supply disruptions are occurring due to missed supplier payments.

Top AP concerns include:

• Inaccurate contract and payment terms for suppliers in AP systems
• Outdated supplier data, including contact and remit -to addresses
• Incomplete banking information for ePayments
• Incorrect supplier tax information

Ensuring effective AP enablement

To eliminate payment errors and off-contract spend, procurement teams need to be able to synchronize and continually update supplier data between the AP system and the vendor master or procurement system. Key criteria for effective management should include:

• Continual supplier information updates
• Supplier information validation from 3rd-party sources
• Approval of supplier information before entry into AP system
• Synchronization between AP and other systems that maintain supplier data

Aravo has helped companies address these concerns with Aravo SIM for AP Enablement, an all-inclusive services package that helps companies reduce operating costs while providing higher data quality and continuous updates among AP, vendor and procurement systems.

For more information about Aravo SIM for AP Enablement™, download the data sheet.

To request purchase information, click here or email info@aravo.com.