Has the role of your A/P changed recently?
Today’s market constriction has forced A/P to step up and play a more pivotal part of overall company operations.
Many A/P departments have seen their roles expand steadily over the past few years. Several factors are responsible for the expansion, such as a rising focus on cash management because of tightening credit markets and increased uncertainty about the economy.
In addition, the growing increase in automation has resulted in the average A/P department being more visible — and more service oriented.
Check out the graph below (based on a recent Aberdeen Group study) to see which category your A/P department falls into:
Despite these findings, the study also found that almost half of A/P departments are without a formal, strategic plan. If your A/P department’s role has rapidly become more strategic, it may be a good idea to sit down with that department and iron out the exact steps it needs to take to achieve future goals.
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
Further Reading
Effectively handling multi-sheet Excel workbooks is crucial for organizing and analyzing complex data. By mastering worksheet management, y...
There’s an old joke in the corporate world: Accountants are the people who tell you exactly where you’ve been — but never whe...
Repetitive data entry tasks can drain productivity. Excel’s Autofill and Flash Fill features automate these tasks, saving time and reduci...
Mastering the basics of Excel is the gateway to understanding more advanced features. Starting with basic cells and progressing to Pivot Ta...
Heads up: Public accounting firms will need to implement (or update existing) quality control protocols. And they must reevaluate their qua...
Excel financial formulas allow users to process accounting data quickly and easily. To use a financial formula in Excel, click on the â€...
