FileBound AP is a complete electronic document management solution built entirely for accounts payable. It is a modern build and is both an On- Demand SaaS solution and an On- Premise solution. It was purposefully built to accelerate the paper intensive processes of accounts payable and mitigate errors especially in the area of invoice processing

Original post:
Get Familiar with FileBound AP: Electronic Document Solution built entirely for Accounts Payable

Let's do business! Banks are not lending!  So says the media coverage and your business owner friend down the street.  While this may be the perception out in the market place, I’ve always held to the premise that there is always a little truth in any perceived state of affairs.  For my part I do believe that lending has tightened and that with the new regulatory pressures that banks are now going to be facing that this may hamper lending even further.  I also think that the businesses that are still getting loans will encounter conditions they never had before such as higher scrutiny of their financials, guarantee requirements, collateral conditions and exclusions, stricter loan to value ratios, higher debt service coverage ratios, and other convents that a bank might place on the business looking for credit.   Add to this that banks are doing what they can to preserve their capital.  I’ve seen for myself business owners and professionals being asked to leave a bank; even if those folks are solid from a lending and banking standpoint.  The reason for this is two-fold, first, a bank can enhance their capital standing by raising more of it or by freeing it up.  If a bank can’t raise capital, which is getting very hard for banks to do these days, they can free it up by having loans pay off or by calling them due.  That’s the reality for a lot of banks and their customers in the current state of the economy.  So what to do?  First, there are banks that are lending (hint hint).  That being said, let me give you some secrets (more like insider insight) that banks are going to be looking at here in the future when it comes to lending.   For this purpose of this blog post I’m going to have to assume a few things.  First, I’m going to assume that we are dealing with an existing business and not a start-up; that’s a blog post for another day.  Second, I’m going to assume that they have had credit in the past or were at one time credit worthy.  Third, I’m going to assume that their business is not as profitable as it was a few years ago.  Four, I’m going to assume there have been some issues that are giving the bank pause in wanting to re-issue credit or establish a new credit facility.  So now that we have the ground rules let’s see what we can do.  Please note that if there is an issue that I haven’t covered in my synopsis please drop me a line in the comment field on a certain issue that you’d like me to address as I’d be more than happy to do so.  First, cash flow is kind and liquidity is queen.  This maxim has always been a tenant in banking, but in today’s economy it holds additional bearing.  A banker wants to be able to see that you have the means to pay back a loan.  More than that they want to see that you have enough in the bank that if things were to tighten up you’d have cash to see things through.  It doesn’t matter to your banker how much money is coming in the future if you don’t have enough money to pay your employees paychecks until your customers pay.  Or pay your landlord when your investors come through in a couple of months.  Banks know that your suppliers may not be willing to extend you credit any further and that you may not be able to purchase the goods you need in order to deliver to your customers.  More businesses fail for lack of cash flow than for lack of profit.  Here is the secret, a banker wants to know if your realistic in predicting your cash flow.  Because most business owners tend to overestimate income and underestimate expenses.  So if you are not schooled in your company’s cash flow cycles and needs that will make a bank run faster the Usain Bolt.  Take time to understand your company’s cash flow.  Every business is different and you may need to elicit the help of your accountant.     The second secret of getting a bank loan is to know your numbers and make sure they are accurate and up to date.  You put a banker’s heart at ease if you can produce an interim income statement at a moments notice.  You’ll also gain favor by knowing answers to your banker’s questions.  For example, if Accounts Receivable days have increased do you know why, what are you doing about it?  If there is an adjustment on your corporate tax returns do you know what it was for?  If sales trends for the company are negative what are you doing to turn them around and how are your adjusting your expenses to compensate.  Unfortunately, a lot of business owners rely on their accountants and bookkeeper’s to know the answers to these questions, and while that’s not necessarily a bad thing there is a caution here.  If the business has seen better days a banker will demand you become more involved in the finances of the company.  Secret number three, be proactive!  I can’t stress this enough, especially if the business is going through some difficult times.  Bankers hate surprises and even if the news isn’t good you’ll help your situation if you proactively set a meeting with your banker to discuss the situation.  Your banker is there as a resource, illicit his expertise and assistance if problems start to arise.  Additionally, if a condition of the loan is annual, semi-annual, or quarterly financials don’t make your banker call you for them.  You’ll earn huge brownie points if you deliver them to your banker on or before they are due.  If you are looking to get a loan, bring your financials with you to the very first meeting.  Here is a list of what a bank will typically ask for…..  1. Last three years of business tax returns.  2

Read the rest here:
Secrets To Getting A Business Loan!

2010 Research Agenda Aberdeen’s Global Supply Management (GSM) practice focuses on the alignment of organizations, processes, and solutions to identify, negotiate, organize, manage, and improve global supply, leading to best value performance in support of the strategic objectives of the business. Research topics cover the breadth of the source-to-settle cycle, from initial analysis and sourcing through contracting and procurement, and extending through the management of accounts payable

Read the original:
2010 Global Supply Management Research

At the end of this month, we will publish our latest report covering the area of Accounts Payable Automation, or E-Payables. For this study, our focus is on the early stages of the procure-to-pay process, namely invoice receipt and approval workflow

See the rest here:
Why Accounts Payable Automation Matters

If you’ve ever worried about how to pay your bills, then we can help you learn how to become better at managing the most important asset you own – CASH. Not knowing how to manage cash caused me four years of nightmares from having to deal with the IRS collection agents.  Let me tell you, you do not want to have this problem! True Story It all started in 1978.  Business was booming and we had outgrown our facility.  So, we moved to a larger office/warehouse location. During the move – over the 4th of July holiday – San Antonio experienced a rainstorm that caused major flooding.  That, coupled with other market conditions that we didn’t realize were happening, was the beginning of major cash flow problems.

Read more:
Cash is King!

AN ERP package can streamline and automate an unlimited number of important functions such as accounts payable, accounts receivable, activity management, benefits administration, and billing, invoicing and cost tracking (for project-based businesses). With ERP, companies can also improve cash management, while manufacturing firms can practice more effective capacity planning and cost containment. Additionally, many ERP packages on the market today provide robust and comprehensive business intelligence and decision support capabilities, leveraging a data warehouse or operational data store to make centralized, timely business information readily available to all those who need it

Visit link:
many of today’s most popular ERP applications

Excuse #9: Change is expensive. When I need to get an invoice approved, I just put it in the right department’s mailbox at the front desk

See the original post:
Top 10 Excuses For Not Considering Document Management This Year: #9 Change is expensive.

The newest advice floating around the job discussion boards is: think outside the box. “Hmph,” I thought, “sounds like a cliche to me.” The stinky thing about that is that cliches frequently become cliches because they’re true.

See more here:
Renaissance woman looking for 65 new bosses, um, er, CLIENTS

By mid-July, Sage will make Product Update 2 available for version 4.4 of Sage MAS 90 and 200.  Any customers who are on a current plan with their Sage maintenance agreement are eligible to receive the update. In an effort to provide additional features and benefits on a more timely basis than the traditional once-a-year upgrade, Sage is releasing Product Updates on a quarterly schedule.  Each of these Product Updates will include both customer-requested features and select additions from the Extended Solutions catalog

See the original post:
Sage MAS 90 and 200 Product Update 2

Under Arahan Perbendaharaan 103 (AP 103), Head of Departments must ensure that bills are paid not later than fourteen (14) days from date of receipt. A register, called Daftar Bil (Kew 269) must be maintained and should have the following information: (1)  Date of receipt of invoice/bill (2)  Invoice/Bill amount (3)  Date of payment voucher prepared (4)  Acknowledgement date of receipt by Finance (5)  Cheque Date In Century Financials, the Daftar Bil or Bill Register can be generated automatically by choosing the relevant selection options of the said report in the standard report options in the Accounts Payable module

See the original post here:
Daftar Bil