Published on: Wednesday, 28 December 2011
We’ve named BancTec, the leader in business process outsourcing (BPO) for transaction automation and document management, as our partner of the year.
We’ve worked with BancTec since 2009, with BancTec’s AP Master automation solution powered by PaletteArena, which offers the most automated approach to supplier invoice matching and straight-through processing. This solution was recently introduced in the UK from the US market, and is offered to customers as either a hosted environment or licensed for deployment in-house. It enables businesses of any size to benefit from an automated, paperless processing solution to help improve their accounts payable efficiency and reduce costs.
Read more about the award here: http://www.banctecbpo.com/2011/12/banctec-named-partner-of-the-year-by-palette/
Published on: Wednesday, 14 December 2011
Companies in all sectors are seeking to reduce costs, and searching for ways to improve efficiency within their business. For many this has involved outsourcing certain aspects of their business functions, and AP is a key function that many companies evaluate for outsourcing – giving an opportunity for accounting practices and related businesses.
In a recent article published by Outsource magazine, our UK sales director Lucy Beck explains what companies need to consider when looking to start offering a hosted, outsourced AP service, and offers advice on how companies should address the common concerns when discussing the possibility of managing outsourced service for their clients.
Read the full article here: http://www.outsourcemagazine.co.uk/articles/item/4271-how-to-play-host-to-an-outsourcing-service
Published on: Thursday, 08 December 2011
Late Payment legislation
We’ve posted before about the impending EU Late Payment legislation, which the UK Government intends to introduce in 2012, a year earlier than the EU deadline of 2013. Although there’s some discussion about exactly WHEN this will happen, there’s no doubt that it actually will be introduced.
Some 22% of the SMEs interviewed in the UK Department for Business, Innovation and Skills' latest Business Barometer said that late payment was a problem for them, with half or more of their customer base pays late. And of course, late payment isn’t the only problem: long payment periods can be equally problematic. Corporates can often use their power in business relationships by imposing long payment terms on their suppliers.
If companies start to take advantage of the EU legislation to apply interest on overdue payments and even penalties, it could drive a significant change in payment practices, and in turn lead to increasing demand for better control and visibility over corporate payment processes in order to be perceived as a good partner, and avoid such charges. We will be monitoring developments on this legislation closely.