How Vendor Self-Service Reduces Cost and Enhances AP Customer Service
Introduction
Vendors, in order to manage their own cash and working capital needs, often contact via phone and email, either the person in the organization who directly purchased the goods, or AP, to determine the status of invoice receipt, approval or payment. Researching and responding to vendor and internal inquiries increases processing cost per invoice and takes staff away from other responsibilities. In addition, the interruption of taking the staff member away from what they were doing may increase invoice-processing errors. If the caller is upset that an invoice has not been paid and is unpleasant and demanding, morale and hence, productivity, may suffer.
Inquiries from vendors and internal customers can be distracting to your AP team and can be costly. As the world continues embracing self-service on the Internet, vendor self-service can be a timely fit; it’s appreciated and becoming expected since it helps both AP and vendors save time and enjoy improved service at reduced cost — a win-win!
This information-packed report will help you:
- Discover the true cost of AP customer service
- Become familiar with the three types of vendor self-service applications
- Understand the value of invoice payment status inquiry metrics
- Review the value of implementing vendor self-service automation
- Evaluate if a vendor self-service solution is right for your organization
- And much, much more!