NewswireToday - /newswire/ -
Charlotte, NC, United States, 2007/12/05 - PayStream Advisors publishes “Web Invoicing and Electronic Payments: Strategic Impact of AP Automation,” designed for forward-thinking organizations that are actively pursuing an AP Web-based invoicing efficiency strategy.
Electronic procurement has experienced an interesting lifecycle. During the late 1990s and early 2000s, almost every organization had “automation” on its corporate agenda, and e-procurement appeared to be a good place to start. A plethora of procurement automation solutions cropped up in the marketplace and organizations were rushing to implement these in hopes of achieving tremendous cost savings, enhanced spend management capabilities and improved supplier relations.
Unfortunately, not every adopter of e-procurement saw the anticipated benefits materialize. The biggest stumbling block these early adopters faced was their inability to bring suppliers onboard. However, organizations have learned a big lesson; technology is not the be-all-and-end-all of an automation initiative; it is just an enabler.
Research by PayStream Advisors has uncovered a renaissance of interest in Web-enabled procurement solutions – especially applications that have been enhanced by purchasing cards, approval workflow technologies and integration with online vendor catalogs. “The key to a successful e-procurement program lies in the redesign of the procurement process and a strong strategy to leverage the available technology to meet each organization’s specific business requirements,” says Sush Koka, Research Director at PayStream Advisors.
Given this interest in electronic procurement solutions, PayStream has developed the Technology Insight Series report titled “Electronic Procurement: Automation Options for Your Purchasing Processes” for those organizations that have an active interest in e-procurement solutions but need help identifying appropriate strategies, vendors and solutions. In addition to providing a market overview and the benefits of automation, the report includes in-depth profiles of seven leading providers in this space. The result is a series of concise, identically structured vendor and solution profiles that corporate finance, treasury, and procurement professionals may use to support their automation initiatives.
PayStream Advisors delivers unbiased, third-party market trend information, assessments of financial automation technology and innovative ideas to business leaders in healthcare, consumer billing, finance and treasury, accounts receivable and accounts payable. PayStream's research into electronic procurement automation options unveils an evolution in Internet technologies and growth in the value of the Web to conduct business.
Electronic Procurement: Automation Options for Your Purchasing Processes is one of many reports in PayStream's corporate research library, including these other titles in their Technology Insight Series:
• AP Europe: Accounts Payable Automation for the European Market
• Purchasing Card Management: The Lure of Plastic
• Imaging and Workflow Automation: Migrating toward a Paperless Organization
• Web Invoicing & Electronic Payments: Strategic Impact of AP Automation.