Ascend’s Post

Accounts payable is like competitive rowing — when everyone’s movements are synchronized and moving in the same direction, the team can travel great distances quickly. 🚣🚣♀️🚣♀️ If each person in the boat is only focused on their task and moving at their own pace, the team must work harder to reach their destination. The same can be true for decentralized AP teams that use different software solutions and have their own processes and workflows. If this sounds familiar, don’t miss our live coffee chat at 1 p.m. CT tomorrow, where we’ll discuss ways to optimize your AP operations. In collaboration with Stormloop Technologies, a leading provider of Workday advisory, planning, and support services, we'll explore the challenges organizations encounter with decentralized AP, procurement, and settlement functions. We’ll also walk through the advantages of centralizing payables processes and offer alternatives for teams that can't take this approach. As an added bonus for registering, Stormloop is offering your AP team a chance to win a Review-and-Recommend onsite consultation to ensure that your organization is maximizing its use of Workday. We'll send the contest form after you complete your registration form using a valid business email address. Can’t join the discussion? Register anyway and we’ll send you a recording of our conversation after the coffee chat. Don't delay! Save your spot 👇👇👇

Are your semi-autonomous AP teams managing different business units or specific lifecycle stages for supplies and services? This strategy may seem practical on paper, but aggregating data into your ERP system, reporting on it, and conducting audits can pose significant risks for your organization. Join Ascend and Stormloop Technologies at 1 p.m. CT on Wednesday, when we discuss the challenges organizations encounter with decentralized AP, procurement, and settlement operations. We'll also talk about how centralizing processes can reduce overhead, increase ROI, and reduce risk, as well as offer alternatives for teams that can't take this approach. As an added bonus for registering, Stormloop is offering your AP team a chance to win a Review-and-Recommend onsite consultation to ensure that your organization is maximizing its use of Workday. We'll send the contest form after you complete your registration form using a valid business email address. Can’t join the discussion? Register anyway and we’ll send you a recording of our conversation after the live coffee chat. Don't miss this chance to learn how to optimize your AP operations. 👇 👇 👇

Professional services company SD Worx sought to reshape its complex finance software landscape to deliver more value to the business, "We’ve transformed our finance function on SAP S/4HANA Cloud Public Edition, allowing it to be a greater asset and source of competitive advantage for our organization" Some key learnings: 🔔 SAP Activate methodology helped to define a clear scope and take a fit-to-standard approach 🔔 serving more customer without additional headcount 🔔 50% reduction in time for intercompany reconciliations 🔔 delaware guides us away from unnecessary customizations Read all the details of this interesting case of SD Worx 👇 https://lnkd.in/eMYyn6ni

Aligning Procure to Pay with CFO Strategy The C-Suite must rely on their organizational groups to fully understand the strategic direction and have the tools to formulate an execution plan designed to achieve the corporate goals. The CFO strategy will obviously have a focus on ensuring the basic functions are capable and stable as well as cost efficient. The reality is that in some companies even basic functions are inefficient and require high cost due to variables such as excessive labor cost, cost of point solution software that creates process gaps and increased fees or fines due to noncompliance with external regulations. Struggling with the basics distracts from value adding digital innovations. The problems arising in completion of basic tasks are often due to implementation of core procure to pay software without proper design, implementation, and training. Design issues often occur by lack of adequate investment in time for key users. By securing deep and broad input from key users across the entire P2P process can ensure your design doesn’t just automate processes that are not fully optimized for digital solutions. It is not uncommon that management’s perception is not the employee’s reality. Reality will greatly improve the design. Controlling the implementation is so much more than just loading software on time and on budget. Implementation testing is often not nearly as robust as it should be. Due to difficulty in scheduling time with P2P process experts’ failure points are common. It becomes a “fix it as you go” utilization. Knowledge transfer is a critical element to ensure failure or success in digital solution operation. I can recall working with a client that said they needed reporting to ensure the solution was working and the software solution did not have what was needed. The software did include the required reporting but the implementation team failed to discuss it as part of knowledge transfer. There are not enough words to describe the importance of a training plan. It is critical that a training plan does not end with 3 -5 days in classes. Think about your own experience. Did you always retain 100% of what was taught and did you have 100% recall months later? Those responsible for execution of new digital solutions you provide for execution don’t have total recall either. Providing immediate digital access to task specific remedial training is key to accomplishing key strategic goals related to efficiency and cost containment. If your company is going to thrive in today’s economic supply chain chaos, it is essential that management’s perception matches the employee reality related to P2P basic functionality. Fine tuned basic activities before application of innovations will drive maximum value. SmartDocs has more than a decade assisting global corporations achieve leading edge P2P digital transformation including the basics as well as advanced AI based innovations. Please add your comments!

Attention ERP Selection Advisors, PE firms and organizations leading an evaluation; we are pleased to announce a series of updates to Sage Intacct following a great week at #SageTransform.    Moving forward our customers can expect more seamless data integrations and AI-powered features to help mid-size businesses modernize processes and improve productivity. New features include: ✅ AI-Powered PO Match for AP Automation ✅ AI-Powered Professional Services Automation ✅ New Global Fixed Assets Management ✅ Data Flows for Seamless Connectivity ✅ User-friendly Forms and Operational Flows ✅ Nonprofit Forms and Operational Flows ✅ Construction Advanced Bid Management ✅ Expansion into Germany ✅ AI incorporated into Distribution and Manufacturing Operations workflows   What a great week meeting with our partners, customers and colleagues!! Read the full feature enhancement list: https://lnkd.in/gF23Y-d5 #erpselection #erpsoftware #accountinginnovation #sageintacct

By centralizing finance and HR processes with Oracle, TrueBlue increased productivity, reduced costs, and gained better insights into its business. https://lnkd.in/g8PpvEps

Hey There! Happy Monday! Come check our new post on #OdeBlog. #NetSuite #ExpenseManagement: Spend Less Time on Expenses Streamline your business expenses effortlessly with NetSuite Expense Management. Automate entry, approval, reimbursement, and gain real-time visibility. Simplify financial management today. https://lnkd.in/eedtJZJF #processimprovement #ERP #Consulting #businessprocess