Manufacturers have embraced e-procurement, not e-payments–despite clear savings and advantages.
In “Paper or Ether,” IndustryWeek.com says “While manufacturers have embraced e-procurement, they have resisted using Internet technology to make payments to supply-chain partners. But that could change as more companies cut costs via ‘e-payments.’” Accounts payable, according to the article, may turn paper invoices into images, but most invoices are still paper based. In “The Financial Supply Chain: Could this be the next corporate paradigm after ERP?,” the author asks, “Can the concept of Financial Supply Chain Management reduce the amount of cash corporations need to hold? Is the parallel with ERP useful?” A recent implementation of FSC management, as stated in the article, eliminated data entry from 85% of transactions, more than halved the cost of invoice handling, and improved the operational cost base by 30%. What about an industrial-strength PayPal? Are there elements within PayPal that could in be incorporated into a system that supports manufacturers and even capital equipment transactions? Doubtful, don’t you think? What has your company done to move towards the efficiencies of paperless e-payments?
Email |
Print |
Post Comment
Follow Discussion
Recommend 
See More Comments
See Less Comments
Browse IMT by Date
Browse IMT by Date
Years ago “they” said that computers would get rid of all the paper. We are using more paper than before!
You can begin the process, as many others like you have done, of creating an organization that is as paper-less as possible today while laying the groundwork for going completely paperless in the near future.
The key is to begin by converting your paper into electronic form the moment in comes into the organization. The electronic version of these documents can then be routed to the proper individuals or groups for processing.
This is easier and quicker to do than you can imagine. Document Imaging / Document Management is the way to start preparing for the future.