Selecting the right AP automation software is crucial for enhancing the efficiency of your accounts payable processes. This decision not only impacts your day-to-day operations but also aligns with your broader financial management strategies.
EFF AP optimisation interlinks these core finance functions to deliver a best in breed AP ecosystem, driving measurable gains in efficiency, compliance, and cost controls.
Here’s a brief overview to guide how EFF approach AP optimisation review.
Accounts payable (AP) optimisation has emerged as a critical strategic priority for organisations seeking to enhance operational efficiency, reduce costs, and mitigate risks. EFF deliver a robust AP optimisation service that systematically reviews and refines these core areas:
supported with strong FP&A for performance metrics and continuous improvement.
By addressing these pillars, EFF provides a framework to navigate these changes and realise accounting and finance transformation’s full potential. EFF services can streamline invoice processing, improve cash flow management, and build stronger supplier partnerships while ensuring compliance with regulatory standards. Move your business to intelligent, autonomous AP from EFF.
Strategic pillars drive up to 60% operational cost saving and typically 80% straight through processing of supplier invoices matched approved and posted.
We focus and provide maturity assessment in these key areas.
Modern AP optimisation prioritises end-to-end automation to eliminate manual bottlenecks and enhance operational efficiency. By assessing current optical character recognition (OCR) and the workflow and machine learning, EFF can help optimise invoice capture rates, automate three-way matching, and streamline approval workflows. Optimised AP systems reduce processing costs by up to 80% and accelerate cycle times from weeks to days, machine learning validate data accuracy and flag discrepancies for review. Platforms we optimise like Medius demonstrate how AI-driven solutions enable real-time reconciliation and seamless ERP integration, ensuring scalability and compliance with evolving regulatory demands across countries.
Robust internal controls are critical for fraud prevention and regulatory compliance, particularly under country specific regulation or company reporting frameworks. EFF as an accountancy practice have the skills and expertise to apply these, apply measures include segregation of duties, automated three-way matching, and audit trails that timestamp every transaction. Automated systems enforce the required approval matrix, validate purchase orders against delivery receipts, and generate real-time compliance reports, reducing audit preparation time by 40% on average. EFF will ensure your controls are robust and you have the control and visibility.
Proactive risk and fraud detection addresses vulnerabilities such as phishing attacks, invoice pass offs, maverick spending, and vendor fraud through layered process controls. EFF uses the automated tools that provide continuous vendor screenings, cross-referencing tax IDs and bank accounts to detect fraudulent vendors. Machine learning models analyse historical payment patterns to flag anomalies, systems create tamper-proof audit trails . Regular vendor statement reconciliations and surprise audits further mitigate risks. With platforms like Medius reporting a 65% reduction in fraudulent transactions post-implementation.
Strategic vendor management enhances cash flow and supply chain resilience through self-service portals and dynamic discounting tools. Automated platforms like Medius enable vendors to submit invoices, track payments, and update details in real time, reducing disputes by 30%. By leveraging data analytics, EFF will provide the reporting to assist your organisation negotiate favourable terms, capture early payment discounts, and consolidate spend with high-volume suppliers, improving DPO (days payable outstanding) by typically 15%. Transparent communication channels and electronic payment options further strengthen supplier partnerships, fostering long-term collaboration and operational stability.
