It is important to want to improve the AP efficiency, but first you must observe and identify the relevant factors which influence the departmental processes.
There are three fundamental steps when putting the AP processes under the microscope:
Accounts Payable Analysis Infographic
1. Identify and depict the process map: the whole cycle has to be reviewed and the document management, invoice confirmation, incidents and coding processing times.
2. Establish Appropriate Control Points and Indicators: mark sensitive points in the invoice processing phases, invoice validation process, incident resolution, and invoice accounting.
3. Identify the strong points to improve and mark objectives: once the bottle necks and conflict points are identified, it will be necessary to develop a possible solution or improvement. For a correct optimization, our recommendation is to turn to resources with proven effectiveness, such as: automation, outsourcing, procedurization and the Six Sigma method.
Once the three relevant and influential factors in the AP department's processes have been identified, easyap remains at your disposal for any future questions or comments.
