Transform Your Accounts Payable Process with AP∞ONE
This article appears in our Q1 2023 issue of Finance Transformation Magazine. To download the issue, click here
Michael Ryan, Founder of Finance Transformation UK explains how AP∞ONE can help large Corporates tackle the challenge of paying Small Business on time successfully. AP∞ONE is the new Accounts Payable standard from Finance Transformation UK.
We understand the challenges that large Corporates face when it comes to paying suppliers on time. Business complexity, poor end-to-end processes, new working patterns, and a constantly evolving technology landscape have combined to make this challenge harder than before.
We believe that the key to overcoming these challenges lies in taking a different approach to transformation. Instead of rushing headlong into automation, we focus on defining the “Exam Question” as the first step and proving it with concrete evidence. Our aim is to provide a Triple-A rated approach to transformation, focused exclusively on Accounts Payable and its role within the end-to-end Purchase to Pay (P2P) process.
Our approach is founded on two decades of experience in transforming finance functions in large UK Corporates and multinational Finance Shared Services. We have experienced the myriad of challenges an Accounts Payable team can face, which has allowed us to develop a comprehensive and effective solution.
Our approach leverages our ‘Partner Bench’ of Technology Solutions as appropriate. The key point is that we focus on identifying the core problem and believe that Technology can augment the Solution where appropriate, if required.
Become Triple-A rated:
We start by assessing your Accounts Payable team to identify both the risks and opportunities. We use our practical operational experience to focus quickly on where the problem lies and define and quantify it for the CFO. We believe that facts are key, and nothing is a problem until proven so.
Our experience-led approach means that we are always evaluating the situation and searching our bank of experience with other clients for all the possible “Answers” to the problem. We present our clients with a range of potential answers based on their culture and appetite for change, risk, and immediate need.
We can be as fast or as measured as you require. In our experience, those “Answers” always require a process change and the ability to deliver on a clear communication plan. Our experience across both finance and procurement at the C-Suite level is key to achieving this.
Our operational experience creates an immediate desire to solve the problem once we have identified it clearly. Our consultants are action-oriented and capable of stepping in to manage your Accounts Payable team.
We lead with organisation and process change, and we underpin this where required with technology. Our data science partner Lumilinks, led by CEO Gary Cole, is key to this.
Keys to Paying Small Businesses on Time
To pay your small businesses on time, it is critical to have a clear end-to-end process, defined roles and responsibilities across finance and procurement, an effective reporting structure, and the crucial ability to identify a small business within your supply chain.
We focus on the master data available internally to the business and enrich it with master data available externally to the business.
AP∞ONE is the result of combining our experience-led approach to finance transformation with the latest in data science capability.
Our accounts payable solution is designed to give you an accounts payable team that is second to none.
At Finance Transformation UK, our focus is always on the strategy first. We understand that there is no one-size-fits-all solution when it comes to accounts payable. That’s why we work closely with our clients to develop a solution that is tailored to their unique needs and circumstances.
If you are currently struggling to pay your small suppliers on time, then AP∞ONE is the solution for you.
Contact us today on 0203 1466878