A well-executed accounts payable process is a valuable asset to every organization. Faster clearance of invoices results in better cash flow management, improves vendor relations drastically and even results in you availing great deals/discounts due to timely payments.
However, while this level of efficiency is desired by all, in reality, most AP processes are subject to a large number of bottlenecks that often result in avoidable delays, late payments and penalties incurred for the same.