Understanding Cash Management: Why it Is Important to AP Professionals

Since AP is the main gatekeeper of an organization’s outgoing cash, it plays a major role in the management of that cash. "The most successful AP departments recognize this—and they have adopted a cash management mind-set," says IOFM Education Director, Pam Miller. How Can AP Help Manage Cash? "The key is to pay at the optimum moment—not too early, but not too late to get the discount," says Miller. This can be a challenge because the definition of the “optimum moment” has become more…