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How to Transform Your Accounts Payable Process [Video]

In our recent webinar, Colby Young, SourceDay Director of Alliances & Channels and Solutions Engineer Phillip Pavelka, are joined by Synergy Resources’ Executive Vice President of Sales & Marketing Paul Tedford and Business Solutions Account Manager Dawn Fludder, for a conversation on transforming the accounts payable process. Together, SourceDay and Synergy explore how automated 3-way matching for Infor VISUAL ERP can transform the AP processes by reducing costs, increasing transparency on payment updates and increasing business velocity.

As Young explains in the webinar, a significant amount of administrative work in the AP process can be automated. Time-consuming tasks like matching invoices to purchase orders and receipts, chasing down discrepancies and pinging suppliers for updates can all be automated. With these tasks taken care of, finance professionals can instead focus on more strategic activities.

Suppliers always want to know when they’re going to get paid. Giving them the visibility into where their invoices are in the lifecycle process of AP is hugely powerful for them; it makes them happy and eliminates the distraction cost for you of answering their calls and emails asking where their payment is in that process. – Colby Young, SourceDay

SourceDay transforms the manually intensive, error-prone AP process through a full lifecycle automation solution built for the VISUAL environment. Some of the benefits include:

  • Notification of a new Receipt within VISUAL
  • Matching against an up-to-date PO and Invoice
  • Automatic Vouchering within VISUAL

Register to listen to the full webinar and learn how AP automation can have significant benefits for your business’s bottom line.

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SourceDay Announces ‘Built for NetSuite’ Status

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We’re thrilled to announce that SourceDay’s supplier collaboration portal SuiteApp has achieved ‘Built for NetSuite‘ status. The new SuiteApp, built using the Oracle NetSuite SuiteCloud Computing Platform, offers a cloud-based supplier collaboration solution that meets Netsuite’s level of standards for security, data privacy and overall quality.

As businesses embrace cloud ERP, thousands of companies are using NetSuite across a multitude of industries to lay the groundwork for their companies, run them, and scale. Retailers, manufacturers, and wholesale distributors have achieved significant operational efficiencies using Netsuite to gain access to real-time business data and accounting automation. SourceDay’s partnership with Netsuite means that businesses are now able to grow their operations using accurate Supplier data and actually solve the issues that appear in the ‘first mile’ of the supply chain through SourceDay’s Supplier Collaboration Platform.

With the launch of its SuiteApp, SourceDay is driving efficiencies between manufacturers, distributors and their suppliers by providing accurate, transparent and real-time data to break down procurement communication barriers.” – Guido Haarmans, VP, SuiteCloud Developer Network and Partner Programs, Oracle NetSuite.

SourceDay’s Built for Netsuite (BFN) status means our platform’s lightweight integration is continuously validated by NetSuite and SourceDay. So your planning, scheduling, production, and customer service teams can operate on accurate supplier data in real-time. The results speak for themselves. A typical SourceDay customer experiences the following benefits:

  • 90% supplier enablement
  • 35% improvement in on-time deliveries
  • Reduces mismatched invoices by 33%
  • 25% improvement in buyer productivity

To master the procurement process, more companies need to pay attention to the ‘first-mile’ of their supply chain operations. For too long, manual processes for data entry and PO management have stifled communication between suppliers and buyers and led to costly errors. “Organizations need an efficient and responsive supply chain to stay ahead of constantly changing expectations and that requires open lines of communication across the entire value chain,” said Haarmans. SourceDay’s solution automates communication and drives actionable two-way collaboration between the buyer and supplier to help reduce waste, errors, and inefficiencies.

Procurement is often a huge pain point in the supply chain as miscommunication and incorrect data can lead to unnecessary costs and wasted productivity. Our SuiteApp enhances automation to help make it easy for companies to master the procurement process and increase efficiencies across the supply chain.” – Clint McRee, COO, SourceDay.

Learn how SourceDay can help your company achieve these results!

Continue reading about our partnership with NetSuite:

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