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The business landscape in general, including and especially accounts payable,is changing at a pace not seen in a long time, if ever. When asked to identify hot topic issues for the next year for accounts payable it wasn’t difficult. After very little investigation the following five issues quickly rose to the top of the list.
New types of fraud focused on the payment function have become such an issue the FBI has issued warnings.
AP automation has really taken off and shows no sign of abating with applications for organizations of all sizes.
Invoice receipt, a seemingly staid static process, is evolving with new approaches now becoming commonplace
The master vendor file has gained increased prominence given the increased need for vendor communication.
Career responsibility continues to shift to the individual, with organization’s taking less responsibility.