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RECAP,
Inc. > Enhancing
A/P Conference |
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| Goals in Accounts Payable Each year RECAP surveys Accounts Payable managers from Fortune 500 companies in a wide variety of industries to examine trends and benchmarks in the area of A/P operations. Part of this survey determines what are the top priorities and goals within Account Payable departments. In 2002 the top priorities are centered primarily around two interrelated principles: improving efficiency and increasing the use of automation. Accounts Payables managers appear to be constantly searching for a faster way to run their shops and they seemed to have decided that automation is the best means to achieve that end. Fully two-thirds of the top goals for 2002 were centered on improving efficiency and using automation. While only the second most popular goal specified the notion of "improving efficiency, timeliness and processes", two of the other top five goals incorporate the use of automation to achieve a similar end. Most organization want to install or increase the use of EDI, ERS, electronic invoicing and electronic payments to further the efficiency of their operations. Furthermore, automation also appears in the third ranked goal of 2002, installing or increasing the use of imaging systems. The remaining top goals for 2002 were to improve customer service and to clean up the vendor file. The 2002 Top Goals for A/P are:
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