Today begins the holiday shopping season in the United States. “Black Friday” sales dominate the landscape, with thousands of shoppers filling retail stores searching for deals on everything from cars to televisions. But did you know that the words “Black Friday” were originally coined as a negative description of the day? The story goes that Philadelphia, Pa., police coined the term to describe the chaos that ruled the city the day after Thanksgiving. An initial PR campaign to rejigger the history was unsuccessful, and it wasn’t until the 1980s that the current, more positive, definition took hold.
Now that the history lesson is over, let’s take a look at the insightful content that Payables Place showcased over the past two weeks. We start off continuing Chris Dwyer’s compliance management checklist, and continue with some predictions about the future of accounts payable technology. Take a look below at what you may have missed:
The Compliance Management Checklist, Part IV: Supply Risk Management
The fourth installment of Chris Dwyer’s compliance management checklist launched on November 17. This time Chris focused on managing supply risk, which is something all enterprises have to account for at some level. From having a list of backup suppliers to enacting a robust supplier vetting process, it’s critical that enterprises of all sizes look at supply risk when building a compliance checklist. Read the full article at https://payablesplace.ardentpartners.com/2014/11/compliance-management-checklist-part-iv-supply-risk-management/.
What Does the Future Hold for AP Automation?
For many organizations, the accounts payable department is one of the last bastions of manual processes. That will change long-term, as more enterprises automate all or part of their AP processes. As such, Andrew Bartolini and I took a look at what the future may hold for AP automation, including a glance at eInvoicing, the impact of the social-mobile-cloud convergence, and end-to-end AP automation. Read the full article at https://payablesplace.ardentpartners.com/2014/11/future-hold-ap-automation/.
How Can Enterprises Sustain High Business Traveler Morale?
One part of business travel strategy that often gets ignored is ensuring road warriors maintain a high morale. Employees with high morale are more productive on average, so enterprises should make a clear effort to maintain high levels. Chris Dwyer took a look on November 21 at just that question, and offers some solid advice to enterprises looking to boost traveler morale. Read the full article at https://payablesplace.ardentpartners.com/2014/11/can-enterprises-sustain-high-business-traveler-morale/.
Business Networks and ePayments: Transforming the B2B eCommerce Landscape
In another piece about the future of accounts payable, I take a look at how business networks and electronic payments technologies transform the business-to-business eCommerce landscape. The long and short of it is that business networks allow for greater communication and collaboration between trading partners, while ePayments simplify the paying of invoices tremendously. Read the full article at https://payablesplace.ardentpartners.com/2014/11/business-networks-epayments-transforming-b2b-ecommerce-landscape/.
The Compliance Management Checklist, Part V: Amendment Best Practices
Wrapping up this roundup is the completion of Chris Dwyer’s compliance management checklist. Part five of the series talks about best practices in how to amend the compliance management checklist, as well as addressing concerns about implementation. The short version is that business relationships change, and an enterprise’s compliance management checklist cannot remain a static document. Read the full article at https://payablesplace.ardentpartners.com/2014/11/compliance-management-checklist-part-v-amendment-best-practices/.
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