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Has the role of your A/P changed recently?

Jared Bilski
by Jared Bilski
April 3, 2009
  • Accounting
1 minute read
  • SHARE ON

Today’s market constriction has forced A/P to step up and play a more pivotal part of overall company operations.

Many A/P departments have seen their roles expand steadily over the past few years. Several factors are responsible for the expansion, such as a rising focus on cash management because of tightening credit markets and increased uncertainty about the economy.

In addition, the growing increase in automation has resulted in the average A/P department being more visible — and more service oriented.

Check out the graph below (based on a recent Aberdeen Group study) to see which category your A/P department falls into:

cfodaily_chart43

Despite these findings, the study also found that almost half of A/P departments are without a formal, strategic plan. If your A/P department’s role has rapidly become more strategic, it may be a good idea to sit down with that department and iron out the exact steps it needs to take to achieve future goals.

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