Accounts Payable Best Practices and Improve Vendor Management
Explore Accounts Payable best practices for automating AP and improving Vendor Management within your organization.
Paper-based Accounts Payable departments with manual processes remain commonplace, and many organizations are quickly pursuing an enterprise strategy to efficiently manage invoice capture, extraction, integration, and approval processing. Further, tracking hundreds or even thousands of vendor relationships is critical to business operations – but it becomes a burden when vendor information is managed in scattered, disparate locations. Consolidating all vendor information and interactions for easy accessibility provides an efficient, 360 view of the relationship for improved procurement, AP exception management, decision making, and historical context.
This video focuses on some of these Accounts Payable automation best practices:
- Reduce AP asset & processing costs
- Review AP Stages of Automation since “one size does not fit all”
- Recognize best practices for early capture, integration & approval processing
- Standardize vendor information management & interactions for improved decision making
- Improve visibility to the entire vendor relationship