VISA Commercial partnered with Deloitte Consulting to conduct the 2008 Global Procure-to-Pay and Commercial Card Best Practices Study. This is an refresh of earlier research.
Previously identified and still relevant best practices include:
- Implementing an automated end-to-end financial process;
- Using supplier relationship management tools;
- Incorporating full data integration to provide enhanced reporting and spend analytics;
- Adopting control and compliance measures.
I was pleased to see that the new best practices identified in this year's study emphasize change leadership:
- Creating visibility and mainstreaming commercial payment initiatives;
- Socializing initiatives with corporate executives and staff;
- Utilizing cross-functional teams with centralized management;
- Implementing full systems integration with enterprise applications;
- Committing to ongoing program optimization.
Read more:
2008 Global Procure-to-Pay and Commercial Card Best Practices Study (Executive Summary)
During her time at Glenbrook, Erin focused on client engagements in business payments, cross-border transactions, bill payment, and the intersection of corporate finance, banking, and ERP/accounting. She has nearly twenty years of experience leading increasingly complex payment initiatives for corporate clients and advising financial institutions and payment technologists on the development of their payment capabilities.
Erin is also the founder of Forte Financial, a consulting firm focused on corporate finance efficiency, technology, and process improvement. She is a past president of the Financial Women’s Association of San Francisco and also a two-term past president of the San Francisco Treasury Management Association. Erin is no longer with Glenbrook, but contributed greatly during her time at the firm.