Tuesday 12th December 2017,
Payables Place

The Accounts Payable Team Needs to Keep Its “Eyes on the Prize” (New Report)

The Accounts Payable Team Needs to Keep Its “Eyes on the Prize” (New Report)

Editor’s Note: Today’s article is a sneak peek into the findings from Ardent Partners’ latest AP research report, “ePayables 2016: Eyes on Prize,” available for download here. Over the next few weeks, CPO Rising will feature a handful of articles highlighting key discussion points from the report.

The accounts payable (“AP”) team in many enterprises sits at a crossroads: continue to focus on tactical skills, such as invoice-processing, or evolve into a source of true strategic value for the greater business. The AP teams that will survive and thrive in the decades ahead – the ones that have their “eyes on the prize” – understand that the proper choice will position them well in the years ahead. The tactical skills of the past will be eradicated, replaced with seamless, holistic processes that boost the impact of AP’s actions and promote financial intelligence as the ideal conduit for future partnerships with this function.

Ardent Partners is excited to announce the publication of a new report, “ePayables 2016: Eyes on the Prize,” which highlights how leading AP teams have fixed their gaze on the goal of driving strategic value to the wider enterprise through becoming a “hub” of financial and operational intelligence as well as improving the bottom line through an emphasis on cost and process efficiencies. The report will also discuss the technology and process improvements that help AP move from tactical to strategic, as well as provide key performance benchmarks and a series of specific recommendations for AP teams seeking improvement.

As the business world changes, developing new industries, new ideologies, and new ways of working, AP must evolve or risk becoming irrelevant. AP functions that understand its potential can unlock critical opportunities in the months ahead, choosing to avoid the path tread by so many AP units of the past.. Only through a keen focus on the future, as well as clear-eyed examination of future needs, will AP retain and even grow its value to the organization.

The new report, available here, highlights:

  • Industry performance metrics that allow AP teams at enterprises of all sizes to benchmark their operations
  • The market changes that are expected to have an immediate impact on AP operations
  • How AP performance is measured today
  • The skills AP professionals will need to develop to remain relevant within the evolving enterprise
  • The true value of AP intelligence to the greater organization
  • Game-changing innovations that will transform accounts payable operations in the months ahead

Download the new report here, and learn why the modern AP function is well-positioned to generate true strategic value to today’s businesses.

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