Why Procurement Is the Key to AP’s Communication With Vendors

To pay invoices more efficiently, it is crucial to have open communication between AP and your vendors’ AR departments, but that doesn’t mean it happens all that frequently. A flash survey of 25 AP leaders found that nearly 90% of AP departments proactively reach out to their vendors’ AR departments no more often than monthly – in fact, about 40% say they rarely/never do so. Why? Because Procurement owns the relationship – so say most AP practice leaders participating in the communication…