EPISODE 118: AP Best Practices In Show/Chapter 10 'Supplier Value Added' we covered what type of alliances are the most beneficial and can move beyond just transactional relationships. Today will are going to drill down on the best practices that will help in both selecting suppliers and how to better manage your AP function.

Topics: Value Map the workflow and remove any inefficiencies or friction in the process Automate everything possible and make it as paperless as possible Put in access controls. One of the places where employee embezlement takes place Priortize payment based on cash flow, due date, and impact on credit Renegotiate payment terms - we will deal with this element in the next episodes