Collaboration between two business partners always begins with the understanding that their combined efforts are far more effective than those of any single entity standing alone. Departments within an organization act as business partners, working towards the common goal of […]
Supplier early payments yield advantages to both suppliers and to accounts payable. Suppliers have their cash flow sooner, and AP often can take advantage of discounts for paying early. For many departments that lack proper automation for their invoice management, […]
In a time where many companies are facing the unfortunate reality of “the great resignation,” organizations with accounts payable departments that heavily rely on manual processes are facing huge obstacles. Companies are spending more money just to try to build […]
Managing an accounts payable department can prove to be quite demanding, but with the proper tools, it can be rewarding and profitable. Accounts payable is often looked at as a subordinate department—expected to cut costs while increasing performance, visibility, and […]
Due to the great resignation, many accounts payable departments are understaffed, and struggling to find new people to properly take on the job. Often times, the staff that already exists are either unable to come into the office or would […]
When it comes to the accounts payable department, one of the most frustrating responsibilities the team faces is dealing with disgruntled suppliers. When things aren’t automated and easy to track, suppliers are constantly calling with inquiries taking time away from […]
Over the last two years, the workforce has seen burnout across departments become more and more of a reality. The accounts payable department is no exception. In fact, manual and low-level accounts payable departments face an even higher risk of […]
In any organization, it’s highly important and useful to measure accounts payable for effectiveness. The importance of evaluating effectiveness is obvious; improvements are impossible without regular evaluation of the current process used. However, without proper automation, effectiveness becomes very difficult […]
Historically, the accounts payable department has been thought of as an overhead expense, not as a revenue generator or as important to future strategy. This view of AP has been, for the most part, grounded in truth–until now. With enterprise-level […]
