Should AP Be Part of Purchasing?

A procure-to-pay process is most efficient when both ends share information. The procurement department uses accounts payable’s data to perform spend analysis, while AP uses procurement’s data to ensure vendors comply with contracts and purchase orders, and that buyers comply with purchasing policies. AP and procurement can drive significant supply chain savings when they work together, and, according to IOFM benchmarking data, most organizations understand this. Some organizations have taken…