Accounts payable: Improving a system for better efficiency

Abstract or Summary

The function of accounts payable has seen a great increase of information that the function has to process. This is true even for smaller organisations and research has proven that there is a great cost involved in processing an invoice. This increased cost has lead organisation to look at the accounts payable process and make changes to the processes, systems and technology to help create efficiencies in the accounts payable department to reduce the cost involved with processing invoices as well as become more compliant to recent changes in reporting standards. Changes to improve systems are required in almost any organisation; effective management of this change will ensure the successfulness and longevity that particular change can offer.