In this episode, Mary Schaeffer, AP Now founder, and podcast host, turns her attention to the non-value add tasks around invoices. She recommends five quick tactics every organization can use to improve the efficiency of their invoice handling process. Additionally, she notes these tactics will also help strengthen vendor relations.

She begins by noting that all vendors want is that their customers pay them, and ideally, pay them on time. Meanwhile, most accounts payable departments don’t want to be inundated with unnecessary emails, phone calls and copies of invoices. The two are at odds unless accounts payable takes some pretty simple actions and MAKES IT CLEAR to their suppliers what’s going on. Schaeffer then identifies five different areas where vendors are often in the dark. She suggests ways to shed light on these issues.

This is one of those few times when the end result is a win for both parties. The vendor gets the information it wants to make it feel secure in the knowledge of when they will be paid, while on the customer side, the accounts payable team is relieved of the necessity of the non-value add work and the annoyance that often goes along with it. She closes with some cogent advice on how to communicate this needed information to the supplier.

Host: Mary Schaeffer (https://www.ap-now.com/)

Credit: Music: https://www.purple-planet.com