Downstream, accounts payable handles post-contractual workflows and the actual receipt, verification, and payment of vendor invoices...

 

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Downstream, accounts payable handles post-contractual workflows and the actual receipt, verification, and payment of vendor invoices in a timely manner. These processes represent an important opportunity to capture additional savings and value, both directly (early payment discounts) and indirectly (optimized workflows that eliminate human error, delays, and fraud that could lead to damaged relationships as well as late payments, fines, etc.). Just like a river, maximizing water (data) quality and minimizing logjams (process inefficiencies) upstream in full cycle accounts payable can help ensure clear, clean, and fast-moving waters downstream in AP. Optimizing upstream processes makes it easier for accounts payable team members to implement the improvements to their own workflows that will secure additional value and savings for your business. SOURCE: https://planergy.com/blog/full-cycle-accounts-payable/ A) In less than 400 words, identify the similarities and differences of the main Expenditure activities listed in our textbook to those presented in the text above. 15 marks. B) In less than 300 words, ascertain the advantages and disadvantages of the different activites proposed in the text above. 5 marks. Downstream, accounts payable handles post-contractual workflows and the actual receipt, verification, and payment of vendor invoices in a timely manner. These processes represent an important opportunity to capture additional savings and value, both directly (early payment discounts) and indirectly (optimized workflows that eliminate human error, delays, and fraud that could lead to damaged relationships as well as late payments, fines, etc.). Just like a river, maximizing water (data) quality and minimizing logjams (process inefficiencies) upstream in full cycle accounts payable can help ensure clear, clean, and fast-moving waters downstream in AP. Optimizing upstream processes makes it easier for accounts payable team members to implement the improvements to their own workflows that will secure additional value and savings for your business. SOURCE: https://planergy.com/blog/full-cycle-accounts-payable/ A) In less than 400 words, identify the similarities and differences of the main Expenditure activities listed in our textbook to those presented in the text above. 15 marks. B) In less than 300 words, ascertain the advantages and disadvantages of the different activites proposed in the text above. 5 marks.

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DIFFERENCES AND SIMILARITIES BETWEEN DOWNSTREAM AND UPSTREAM ACCOUNTS PAYABLE Similarities Upstream Processes are similar to those in production Procurement teams focus on developing and optimizing a ... View the full answer