Advisory

AP Assessment

Accelerating our clients invoice processing, minimizing exception handling and leveraging these gains to gain profits within the financial supply chain.

Enabling Automation to Extend Financial Reach

Drive Towards Touchless AP Processing & Enhanced Spend Visibility

At Velocity, we work hand in hand with our customers to guide them through their transformation journey. Because every organization is unique, we build a targeted strategy to achieve the best long term success, while utilizing the best parts of the existing AP infrastructure to achieve tangible wins for the department.
AP Assessment

Assessment Activites

01

ANALYZE
Analzye current state of AP process

02

CONDUCT
Conduct performance benchmarking

03

DEVELOP
Develop long-term strategic plan

04

DEPLOY
Deploy implementation and track adoption

Ready to begin your Procurement transformation?

Pragmatic Approach to Determining
How AP Can Increase Efficiency Via Automation

Our methodology focuses on your company’s maturity in the critical areas of people, process and technology. Every transformation begins with a deep understanding of the customer’s current state. To do this, we engage our Consulting team to conduct process audits and a proficiency assessment. These results help Velocity Procurement produce a gap analysis and identify specific opportunities for improvement with a detailed transformation roadmap.

From there, our consulting and technology experts begin to execute the plan for transformation. Each plan is custom-fit for each client which often includes operational re-design, technology implementation, business processes improvement, strategic sourcing, change management and training delivery. In order to assist clients with sustaining the transformation, Velocity Procurement’s Services team provides flexible out-tasking solutions for technical and operational support.

ANALYZE

Provide a clear understanding of the existing state of accounts payable

BENCHMARKIG

Compare the current state to the best-in-class practices

PLAN
Develop a long-term plan comprised of manageable initiatives
IMPLEMENT
Effect change across people, and technology with minimal effect on daily operations

Key Benefits

AP organizations are constantly asked to streamline their operations and “Do more with Less.” Velocity’s AP Transformation helps clients develop a strategic plan to meet these expectations while achieving goals such as:

100% financial visibility and control of key AP metrics

Faster period close processes

Reduced internal and external fraud risk

Strategic alignment with procurement and sourcing functions

Improved strategies for supply chain finance

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