How to Move From 'Workaround' Processes to Best Practices

A periodic process review of AP allows finance to identify and correct inefficiencies that are chipping away at the bottom line. Many AP processes and procedures have evolved over time, and are not necessarily best practices. For example, AP often has a number of ‘workarounds’ that are developed as a result of time or staffing pressures. The outcome may be okay, but there may be better ways to do things. In preparing for an AP process review, sit down with the controller and other key…