February 21

Control your Indirect Spend

 

Indirect spend in a decentralised organisation creates many issues. Decentralisation makes it more difficult to have visibility over the entire P2P (purchase to payment) process. In many AP departments non-PO issues of payment are only raised after the invoice is past due. This results in issues going undetected and bottlenecks developing which creates difficulties in forecasting as allowances must be made for unexpected expenses. By gaining visibility over your company’s indirect spend you can increase efficiency through managing spend and sourcing savings from faster payments.

The development of organisational silos poses problems for AP professionals as communication between departments vanishes. Instead departments should be working together to leverage synergies. One crucial element for effective communication across departments requires a reliable PO policy for indirect spend outlined for the procurement department. Suppliers can be negotiated with and added to a pre-approved list to minimise costs. Work with key executives across departments to ensure this policy is correctly introduced and followed. With automation the AP department can then easily match invoice to PO and goods received. This avoids having to manually process the PO’s. Without automation, in a decentralised organisation, handling this process manually removes the AP department’s focus from … Read More >


February 14

Big News for Adest!

 

Adest are delighted to announce some big news. We have merged with Glantus and AVIDO, two outstanding software development and services companies. Each of these companies has considerable talent and experience in the software industry.

Glantus is a leading provider of ERP integration productivity software and AVIDO is a business intelligence specialist.

We expect that the combination of our strengths and experience can greatly benefit you and your organisation and look forward to updating you on our progress.

We thank you for your support and look forward to continuing on our exciting journey together.

  … Read More >


February 8

2017 Cloud Accounting Trends

Companies are moving to automate tasks to allow valuable resources to be redeployed to other areas of their business where they can provide greater value.  From our research cloud accounting further increased in popularity in 2016. More companies have realised the associated value and committed to an automated cloud accounting system.

Some cloud accounting trends which are developing in 2017 are:

E-invoicing:
There is an increased expectation in businesses that all paper processes will soon become digitized. Therefore, more companies are inclined to send invoices in electronic formats (i.e. e-invoicing) such as pdf, xml, etc. This removes both manual and paper processing allowing invoices to be processed faster as documents don’t need to be printed/scanned and can automatically be electronically captured, matched and processed.

Collaboration across departments:
As the marketplace continues to operate at a faster pace there is an increased need to establish and accommodate better communication channels between departments. Through improved visibility and communication with other departments a greater understanding of available budgets, potential issues, etc, means more accurate forecasts can be created. This allows for increased flexibility and efficiency across this entire organisation.

Increased Reporting and Accountability:
Data analytics are important not just … Read More >


January 31

Why Change Your Legacy System?

Firstly, let’s be clear on what is a Legacy System:

– A Legacy System typically denotes or refers to software or hardware that has been superseded but is difficult to replace because of its wide use.

The key factors that dominate the decision making process surrounding Legacy Systems of most management teams across many industry sectors are therefore explicit within the terms of the definition above, i.e. “superseded” and “difficult to replace”.

Most IT systems have entwined with other IT systems overtime to become an enlarged Legacy System. Each simple or complex addition is aimed at further augmenting the automation of key processes and hopefully offering even better reporting on processes, performance and overall efficiencies. These “evolved” Legacy Systems, in most cases operate right from the core of a business through to multiple, and in some cases every, section and division of the business.

This issue stems from a combination of:

 How Legacy IT systems are traditionally developed and provided. The style of investment in such Legacy IT systems, i.e. large capital investments to grant ownership of the technology.

Investing in key infrastructure and/or enterprise software applications previously was a significant time consuming decision, often involving board room validation and … Read More >