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15 Cards in this Set
- Front
- Back
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Technology helps AP add value to an organization
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Reduces process costs Supports key initiatives with respect to increasing compliance requirements |
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The Gartner Group states that 5% reduction I Operating Costs has the same effect on the bottom line as what percent increase in sales?
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30%
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Factors that drive selection of software solution: |
Volume of transactions processed Amount of customization required |
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Reasons that an organization have been slow to implement software applications in order to receive invoices electronically |
Inability to prepare a sound business case incompatibility between buyer and seller |
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Procure-to-Pay
P2P |
Provides end to end visibility
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P2P Supports multiple functions: |
Purchasing Invoice handling and payment for goods and services P-card administration |
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EDI
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EDI has not gained more widespread use particularly in small and medium - sized companies due to Cost |
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Primary Benefits of implementing an imaging system:
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Eliminate lost and misfiled paper invoices Reduction in physical storage space requirements. |
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Intangible benefits of imaging are: |
Easer Audits Faster Disputes Reduce exposer to disaster |
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Workflow
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Is the process of moving documents, information, or tasks from person to person according to procedural rules. |
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Web portals |
A secure internet system that provides a single point of entry and comprehensive access to data. |
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XML
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A markup language is a set of words and symbols for describing the identify of pieces of a document. |
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Common tools used to add levels of security to electronic transactions while providing privacy, authentication, & data integrity include |
Digital signatures Digital certificates Encryption |
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Maintaining data securities requires
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Hardware & Human Resources |
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