Blog Accounts Payable

What is the Accounts Payable Process? And How to Manage it.

Making money is the primary goal of any company—but earning is only half the battle. The other half is reducing expenditures that eat revenue. While overhead spending of up to 35% of annual revenue may be considered normal, this percentage is only relevant in relation to net profit. If you’re only looking at 5% profit […]
6 min read
What is the P2P Cycle? And Best-Practices for Businesses.
Blog Procurement

What Is the P2P Cycle? And Best-Practices for Businesses.

Procure-to-pay (P2P) is the process an organization uses to source, negotiate, purchase and pay for goods and services. A powerful, effective procure-to-pay (P2P) cycle is critical for your business.  As Forbes Councils Member Peter Nesbitt notes, the way companies spend money has changed dramatically over the past several years. Businesses no longer rely on a […]
5 min read
Blog Accounts Payable

Using Accounts Payable Days to Stabilize Cash Flow

The ability to manage cash can be the difference between life and death for a company.
8 min read
Blog Accounts Payable

How to Conduct an Account Payable Ledger Spend Analysis

Having the right financial professionals on your team is critical to securing your company’s bottom line. After all, these are the people responsible for managing your accounts payable ledger and future planning, as well as optimizing your budgets by aligning spending, curbing fraud, and eliminating maverick spending that harms your profitability.  Spend analysis is a […]
9 min read
Blog Accounts Payable

Using Accounts Payable T-Accounts for Spend Accountability

When it comes to your company’s financial health, revisiting the basics can bring new perspectives to current problems. Consider a sports analogy:What do the world’s most famous coaches make their players do in the off season? Practice the fundamentals. Coaches have their teams practice rookie-level drills because it trains their minds and bodies to react […]
6 min read
Leaking Cash? 4 Ways A Procurement Plan Can Curb Wasteful Spend.
Blog Procurement

Leaking Cash? 4 Ways a Procurement Plan Can Curb Wasteful Spend.

The lean operating model was conceptualized sometime around the fifteenth century, at the Arsenal of Venice. Venetian shipbuilders created an assembly line to standardize production and, in doing so, were able to build naval vessels faster and cheaper. As the centuries passed, the Venetians continuously sought to improve their operations and experimented with new ways […]
6 min read