How to transform your accounts payable function into a strategic powerhouse

For many years, accounts payable (AP) has been a cost centre in most businesses. The primary role of this department is to make payments to suppliers, employees, contractors, and any other person or business who was owed money. Historically this function has been burdened by error-prone manual processes, slow payments, limited payment options, inadequate security measures, and a lack of integration between the company and its vendors. However, technology is now transforming these processes for AP teams, turning them into a more efficient business unit. Keep reading below to learn how your AP function can become more strategic and drive smarter collections for the business.