Jack Mulloy, CEO of BuyerQuest, was recently interviewed by PYMNTS.com about the roles of the procurement process and supplier enablement in driving the efficiency of accounts payable.
In the article, “Connecting the Procurement Dots, From Purchase Order to Payment”, BuyerQuest’s new “Speed to Payment” capabilities were identified as an area of opportunity for organizations to streamline payments. The automated invoice processing capability in BuyerQuest allows suppliers to automatically create invoices from purchase orders sent via the BuyerQuest Network. By automating invoice creation, the payment process and the ability to realize early payment discounts become easier
As part of the wide-ranging discussion, Jack highlighted that invoice automation can unlock a potential “revenue stream for a treasurer or CFO”, and that invoice process automation starts with a “well structured purchase order” with “well-documented, approved requisitions line items”, allowing for ease of matching with invoice line items.
To read the entire interview, visit the PYMNTs.com Website.Learn more about BuyerQuest’s Speed to Payment and automated invoice processing capabilities.