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It’s that time of year again, and planning for 2023 is top of the agenda for businesses everywhere. But this time, the rules of the game have changed.
Read more - Three Top Accounts Payable trends in 2023 that finance teams must know about
Spend analysis is imperative for your professional procurement function as it reviews all spend data. This data-gathering process helps you gain insight into business spending, so you can take the necessary action to reduce costs, increase efficiency, improve supplier relationships, and calculate risks.
Read more - What is spend analysis and why does it matter?
Accounts Payable (AP) is an integral part of any business as this is the base of your company’s relationships with key suppliers. However, some businesses are so focused on innovation and growth that they neglect Accounts Payable duties.
Read more - 6 ways Accounts Payable automation helps with setting your goals and objectives
If you’re one of the 40% of workers currently considering their next career move*, we’ve got great news. Qualified Accounts Payable candidates are in high demand, salaries are increasing, and better benefits are on the table. Here’s why.
Read more - Accounts Payable superstars are like gold dust: how you can get the most from your career
Accounts Payable is a candidates’ market right now. There are more AP jobs than there are qualified candidates to fill them, leaving many employers struggling to fill vacancies. Things aren’t likely to improve any time soon either, as experts predict significant churn in the post-pandemic job market.
Read more - Hiring in Accounts Payable is getting harder: five ways employers can secure top-flight talent
Accounts Payable Working Styles
Read more - The results are in: Accounts Payable working styles of 2021
With an avalanche of invoices to pay, processes to keep on top of, and demanding workloads, measuring Accounts Payable metrics might be a lower priority for your finance team. Especially as an IOFM report found the median number of invoices processed by AP teams climbed 28% year-over-year while headcount dropped 12%.
Read more - Top Accounts Payable KPIs to go after in 2023
If you’re an efficiency-obsessed AP manager, we think you deserve a raise. Because Accounts Payable process improvements deliver huge advantages to businesses, staff, suppliers and the wider economy. Here are six reasons AP efficiency should be recognised and rewarded in YOUR business.
Read more - Six reasons efficiency-obsessed AP staff deserve a raise: the real-world value of Accounts Payable process improvements
The Prompt Payment Code sets the standard in payment terms and is the driving force in bringing change in payment practices. In 2008, the UK Government established a set of principles under this title to ensure businesses commit to paying their suppliers on time. Since its launch, the amount of money owed to smaller businesses in late payments has more than halved.
Read more - The Prompt Payment Code: 2021 updates
Remote working has become the new normal for many P2P professionals, and it’s fair to say that working from home elicits mixed emotions. For many, it’s a chance to save time and money by abolishing the commute. But it can also be a huge headache for firms and their people, hampering productivity and introducing new risks.
Read more - What does Remote Working mean for Accounts Payable?
To alleviate cash flow concerns for SMEs, the Australian government has passed a public Payment Times Reporting Scheme. Both businesses and government enterprises with an annual income of more than $100 million will be required to report on payment activity for their small-business suppliers as of January 1 2021.
Read more - Everything you need to know about the Australian Payment Reporting Bill
The Prompt Payment Code sets the standard in payment terms and is the driving force in bringing change in payment practices. In 2008, the UK Government established a set of principles under this title to ensure businesses commit to paying their suppliers on time. Since its launch, the amount of money owed to smaller businesses in late payments has more than halved. What is the Prompt Payment Code? The Prompt Payment Code is administered on behalf of the Small Business Commissioner’s Office by ...
Read more - Understanding the Prompt Payment Code