I have developed a toolkit to help AP teams optimize their AP. The toolkit is a 70 page document with accompanying electronic media to help you get started. It covers the following strategies (the number in brackets are the required better practice steps).
- Accounts payable systems improvements easy steps (7)
- Accounts payable systems improvements more integrated steps (3)
- Administration improvements for all AP teams (8)
- Improvements to month-end AP procedures (5)
- Accounts payable staffing improvements (7)
- Business re-engineering (6)
- Payment improvements (6)
- Improving relationships with budget holders (7)
- Improving relationships with suppliers (10)
- Identifying accounts payable fraud early (8)