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Today’s payable environment is intense. Whether you’re an executive of a Fortune 500 company or of a growing private company, your payables staff is likely lean, volume driven, and under relentless pressure to process payments.

Daily transactions can be measured in the thousands and money is often dispatched to vendors near instantaneously. One errant stroke at the computer terminal may send a large sum to a one-time, near bankrupt vendor in Florida even as it was intended to satisfy an obligation with a Fortune 500 supplier in Michigan.  One poor tax decision tends to be repeated over time.

"Externally, many vendors
inadvertently introduce invisible pressures
and opportunities to overpay".

To this pressure and intensity, add the flux of change, a near constant in the corporate environment. New Software. New Vendors. Rapid Growth. Acquisitions. Price Changes. Changing and complex sales and use tax statutes, varying by state, county, municipality, and special tax districts.

Externally, many vendors inadvertently introduce invisible pressures and opportunities to overpay. Multiple invoices. Improper or inaccurate sales taxes. Double billings. Cancelled Invoices. And many natural opportunities to withhold or use those credits to offset aging invoices.

While larger organizations have more sophisticated controls, such controls are often marginalized with personnel turnover, decentralized operations, reliance on "foolproof" software, and lack of interdepartmental communication.

Despite the numerous pitfalls, pressure and distractions of this environment, the bulk of accounts payable professionals still do a remarkable job, operating at a level exceeding 99% efficiency.

This is where your job ends
and ours begins.