In accounts payable, poor control over invoice processing can result in higher costs, more errors, upset suppliers, and a greater risk of fraud.
Research from the Institute of Finance and Management (IOFM) suggests the greatest opportunity for AP departments to improve performance is by increasing control in four specific areas:
To help AP departments assess their invoice processing performance, Hyland and IOFM have created the AP Control Panel, a first-of-its-kind survey tool for gauging the level of control in these four areas.
Latest Report: Accounts Payable is an organisation's secret weapon for improving financial health
Learn how arming AP with the right information can provide the depth of business intelligence your company needs to thrive and grow.