The hard working accounts payable teams at many organizations are really doing a lot more complex work than their bosses realize. They need to not only know best practices, they have to stay up-to-date on a wide array of regulatory issues, change processes to protect against an ever-growing number of frauds, and diplomatically deal with a number of different employees and suppliers who don’t abide by company policies. #accountspayable #accountspayableprocess #accountspayablebestpractices
I really wanted to call this broadcast, Understanding Why Accounts Payable Is Much Harder and More Complex than Most Finance and Accounting Executives Realize. But clearly, that was far too long even though it sums the many over-looked intricacies that go into running a best practice accounts payable operation. Stick around until the end when I share the one practice that goes on in many organizations – that in and of itself is not bad – as long as management teams realize what they are doing and don’t paint AP as the guilty party. Sadly, the blame game goes on unfairly in far too many organizations. Another title for this session might have been what every controller needs to understand about accounts payable or perhaps what every CFO needs to know about accounts payable.
5 Ways AP Has More Work Despite automation Link: https://youtu.be/6Rs2eYHcKLg
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