There are many responsibilities involved in running a business successfully, but maintaining strong control over accounts payable is among the most critical. If organization leaders do not have proper oversight of these processes, it's possible for errors to negatively affect the bottom line and even a company's reputation.
Recently, the Accounts Payable Network reaffirmed the importance of effective accounts payable management by releasing a new volume of guidelines for these duties. The new book of best practices will provide companies with the insight they need to streamline their invoice processing, detect vendor fraud, maintain compliance with industry standards and more.
"In order for AP to transition from a back-office, 'bill payer,' function to a strategic business partner that impacts the company's bottom line in a visibly positive way, AP must implement best practices to remove process inefficiencies," said Judy Bicking, author, speaker and former Johnson & Johnson global accounts payable director.
Karl Andersson has devoted his career to helping organizations improve their business processes. For 15 years, he has worked with multitudes of Fortune 500+ companies as the CEO of Technology Insight. Before this, he spent 10 years working in the audit and consulting sectors, which included large international projects in both Europe and Asia.
Karl brings a combination of industry expertise and real-world experience. The diversity of his clients has allowed him to understand a variety of industries, and the unique challenges that each of them face.