6 Attributes of a Best-in-Class Accounts Payable Operation

Improving processes and automating manual processes is among the top Accounts Payable concerns of businesses surveyed for IOFM’s 2016 AP Key Performance Indicators Survey. Inefficient and ineffective accounts payable processes result in:

• Costly and error-prone keying of invoice information
• Lost or misplaced invoices
• Long approval and exception resolution cycles
• Late fees and missed discounts
• Compliance and security risks
• High paper storage and retrieval costs
• Delays uploading data on approved invoices to downstream systems
• Time-consuming supplier inquiries regarding invoice and payment status

No wonder Accounts Payable departments are putting a priority on becoming best-in-class! But how can an Accounts Payable department be sure that it is getting the most from its process improvement initiatives?

The latest white paper from the AP & P2P Network details the six attributes of best-in-class Accou
nts Payable departments, and shows how electronic invoicing contributes to each one. These six attributes are what most distinguish best-in-class accounts payable operations – which typically have the highest levels of automation – from their peers.

If you want your Accounts Payable department to become best-in-class, download this white paper today!

Continuing education credits available:

Receive 1 CEU toward APM, APS, or P2P recertification! The Accounts Payable Certification and Procure-to-Pay Certification Programs are designed to establish standards for the profession and recognize Accounts Payable and Procure-to-Pay professionals who, by possessing related work experience and passing a comprehensive exam, have met stringent requirements for mastering the Accounts Payable and Procure-to-Pay bodies of knowledge.

This white paper is provided free of charge and underwritten by a sponsor. Following your download, you may be contacted by the sponsor with information about their products and services.