Jason Busch over at
SpendMatters has an excellent blog post recently regarding a topic I hear of often in discussions with senior payables and treasury managers: Supply Chain Finance (SCF). AP Automation is a foundational item for success in SCF, and hence its interest to me and other blog readers. In brief, the quicker an organization can accurately process PO and non-PO invoices, the greater the opportunity for SCF can be.
In one of my earlier posts, I discussed SCF in some detail. That post is
here.
In Jason's current post, referenced
here, he makes the following points:
- The North American market for SCF is relatively immature
- There are signs that the UK will lead the adoption curve for SCF
- SCF will take on a more important role in the US as companies continue to hoard cash, and as working capital initiatives remain strong.
In the work we do, we see many examples of SCF (as Jason puts it) as "convenient extensions of eProcurement or AP Automation" programs. Our day to day work squares with his comment. But we do believe SCF can bring a myriad of opportunity to buyers (AP) and suppliers (AR) once the complexities are sorted out.
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