Fighting Bad Debts Using Advanced Analytical Solutions: The Power of Predictive Warning Systems

Part 1

Issuing an invoice is one of the best things in the world. You have done your job well and now you are on the edge of collecting the fruits of your long efforts. You only have to wait a little and all your pains will pay off – except if the payment was late…

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Moving accounts payable out of the dark ages

The accounts payable team is one of the most important in the accounting function. However, many AP teams are stuck in the dark ages, which means:

  • monthly accounts cannot be prepared promptly, as AP is buried under a tsunami of invoices 
  • budget holders are unnecessarily tied up in authorising and approving all transactions – no matter how small
  • suppliers are forever on the phone querying payments 
  • the management accountants’ analysis is undermined.
Continue reading “Moving accounts payable out of the dark ages”