Accounts payable is continually under pressure to reduce costs. A common response is to implement best practices, yet these initiatives often fail for one or more of these reasons:
- AP is the last step of a very chaotic purchase process
- AP does not have ownership of the process
- Procurement & AP have an at-arms-length, or even adversarial relationship
- AP is not aligned with the business
- AP reacted to noise rather than root cause analysis and metrics
- AP has not been groomed to lead a large cross-functional project
In the new whitepaper by the Institute of Financial Management (IOFM), AP Automation: Why Initiatives Fail and Best Practices for Achieving Success, discover how to evaluate AP holistically to identify and successfully implement the right practices and the right automation to reduce costs, improve the process for everyone, ensure compliance with laws and regulations, and pay suppliers on time.
Download your copy of AP Automation: Why Initiatives Fail and Best Practices for Achieving Success now.