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Best Practice

Is your AP department still operating in isolation?

The accounts payable function can find itself operating within a bubble; cut off to some extent from the rest of the organisation in a constantly evolving environment where time is in short supply. The effect of this can be for the department to become insular, where the only measures are against past performance, and the only metrics used are the ones which were considered useful to that organisation at some point in the past.

What Happens when Best Practice is Ignored?

Most organisations know that they should be aiming towards best practice processes - but what does it really mean - and can something as diverse as accounts payable ever be constrained to a simple set of rules across all organisations? If we're talking about specifics, the answer is probably no - but the general framework and methods of working can be aligned in a way that can be translated across AP departments regardless of size, to some extent industry and internal culture.

Accounts Payable Metrics Improve Retail Efficiency

Retailers are operating in a world which is vastly different from a few years ago. Faced with competition from across the globe, those organisations who fail to adapt and meet the new challenges will find themselves out of touch and out of business. With an ever increasing growth in the power of the consumer via internet and mobile purchasing applications, organisations need to be resourceful and innovative when tracking how trade is affected and adapt to suit. Nowhere is this more important than in Accounts Payable.

Is your Organisation facing cuts in spending?

If you work within the public sector you could be forgiven for feeling more than a little anxious over the last couple of months. You’ve been aware that cuts are coming, but you didn’t know when, how much, or if they’d affect you directly. Many of those within the corporate sector have been under the same cloud, though perhaps without the same inevitability.

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