sharedserviceslink, the world's largest community for finance shared services professionals, released a thought-provoking e-book titled Growing Companies: The Top 3 Issues Holding AP Back – and What to Do About Them. This e-book, sponsored by Tipalti, explores the challenges faced by accounts payable (AP) departments in growing businesses and provides proactive solutions to future-proof organizations.
When businesses experience growth, the focus often centers on cashflow and incoming revenue, while AP takes a back seat. However, this e-book explains how investing in a robust AP process is crucial for scalability, preparation for further growth, and cost reductions, ultimately enabling businesses to invest more in other critical areas.
The e-book draws on the findings of a 2023 survey of finance leaders in high-growth businesses. The survey revealed the most common struggles faced by AP departments, including chasing invoice approvals, maintaining supplier relationships while optimizing cash flow, dealing with invoice errors and reconciliation, and addressing fraud and risk exposure. Additionally, 53% of respondents expressed concerns about AP processes supporting sustainable business growth.
To address these challenges, the e-book explains how to take a holistic view of AP automation and how to approach increasing levels of complexity, as expanding companies must comply with global payment rules, regulations, and tax requirements.
For more information and to download the e-book, Growing Companies: The Top 3 Issues Holding AP Back – and What to Do About Them
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