Category: Accounts Payable

Accounts Payable Resources

Are you looking to improve the efficiency of your AP department? Over the last year, we have published several articles discussing Accounts Payable processes, from identifying key performance indicators to discussions about best practices. We have the informational resources to get your AP department functioning better than ever before. To help you in your quest… Read More »

Reviewing your Accounts Payable Processes

What does a best in class Accounts Payable department look like? Before you can improve your current system, you should understand how it stacks up against others. We have compiled some of the best-in-class invoice metrics and key measurements for monitoring and evaluating the success of your current AP processes. Reviewing Your Accounts Payable Processes from… Read More »

Streamline Your Multi-Location Business

Running a multiple site operation comes with its fair share of challenges. In order to meet the ever-changing demands and tight profit margins required to be successful, there is an increasing need for multi-location businesses to improve their operational efficiency. Many companies have found one solution in their Accounts Payable department. Rather than dealing with… Read More »

New England Advisory Firm Reduces AP Processing Time by 40%

As businesses grow, they tend to encounter growing pains. For BlumShapiro, New England’s largest business advisory firm, this involved an increasing volume of invoices. As the firm continued to grow through several acquisitions, their manual processes were becoming increasingly expensive and inefficient. Manually searching for misplaced invoices and handling paper documents proved to be one… Read More »

14 Accounts Payable Best Practices

1. Pay from original invoices: Paying from copies can cause errors. If you must pay from a copied invoice, be sure to double check your records for a matching invoice number and dollar amount. 2. Separate duties and internal controls: By separating duties and internal controls, for example limiting who can add or access your… Read More »

3 Questions Every Finance Manager Should Be Able To Answer

Where are your invoices in process? Visibility is a major concern for Accounts Payable departments. Lack of visibility begins with the invoice process. Invoices are sent to different offices, are manually forwarded, and entered into an ERP system. These invoices are almost impossible to track until they reach the ERP system, leaving little to no… Read More »

AP Department Potential: Infographic

Is your Accounts Payable department living up to its full potential? In this Digitech infographic, you will be able to see how your AP processes stacks up to: Fraud & duplicate payments Customer satisfaction Financial process control Error detection Automation improvements Process costs An AP department that has realized its full performance potential will lower… Read More »