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:
Continue reading “Moving accounts payable out of the dark ages”
- 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.
After talking to over 300 Finance professionals over the past couple of years either face to face or online, there still appears to be a lot of uncertainty and confusion out there relating to analytics and modelling.
Continue reading “Predictive analytics vs Financial Modeling”
Our education is critical, not only in terms of CPD, but in terms of educating our teams in the new opportunities for greater productivity, great decision support, great value add… but current education seems to be focused on tools and tech alone.
Maybe this is a symptom of the large marketing budgets at big vendors pushing their latest product. Maybe it is our own “follow the easiest path” approach to learning… “I can just download this free app, search YouTube for some training, and off I go”… but whatever the reason, there is a gap.
Continue reading “Educate… but are you covering these areas?”