Challenges of invoice processing in accounts payable
Juntunen, Joonas (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202404186914
https://urn.fi/URN:NBN:fi:amk-202404186914
Tiivistelmä
The thesis was conducted for the Accounts Payable team of Sandvik. The goal of the thesis was to create a comprehensive understanding of three challenges that occur during invoice processing: 1. Price differences, 2. Incomplete received deliveries, and 3. Prolonged rotations of inquiries. After creating a more comprehensive picture of their occurrence and effects on day-to-day work, the thesis aimed to provide recommendations and an action plan for mitigating them.
The thesis used different theoretical frameworks to provide the reader with understanding of Accounts payable and invoice processing. The thesis used a survey for conducting research and to gather both qualitative and quantitative data. The sample group for the thesis was the AP team of Sandvik. The survey was divided into different categories, based on the researched challenges. The research questions stayed consistent in each category.
Different perceived effects of these challenges, as well as potential factor for their occurrence were discovered. During data analysis, the data was examined, interpreted, and summarized categorically. Findings from each category were dissected and six practical underlying factors were chosen to be focused on. The decision was made due to their practical nature and scale, in which the AP team could directly take action to address them. In the end, the thesis provided recommendations and an action plan for the team to mitigate these challenges and their effects in invoice processing.
The researched challenges do also involve other parties in addition to the AP team (for example purchasing). In this thesis, the interviewed sample group excludes these parties. In the future, it can be beneficial to conduct wider research on the root causes of these challenges, and how the challenges and their effects are seen by other parties.
The thesis used different theoretical frameworks to provide the reader with understanding of Accounts payable and invoice processing. The thesis used a survey for conducting research and to gather both qualitative and quantitative data. The sample group for the thesis was the AP team of Sandvik. The survey was divided into different categories, based on the researched challenges. The research questions stayed consistent in each category.
Different perceived effects of these challenges, as well as potential factor for their occurrence were discovered. During data analysis, the data was examined, interpreted, and summarized categorically. Findings from each category were dissected and six practical underlying factors were chosen to be focused on. The decision was made due to their practical nature and scale, in which the AP team could directly take action to address them. In the end, the thesis provided recommendations and an action plan for the team to mitigate these challenges and their effects in invoice processing.
The researched challenges do also involve other parties in addition to the AP team (for example purchasing). In this thesis, the interviewed sample group excludes these parties. In the future, it can be beneficial to conduct wider research on the root causes of these challenges, and how the challenges and their effects are seen by other parties.