Strategic Accounts payable and Account Receivable:
There are many ways to manage the Accounts payable and the Accounts receivable function in the business. as the years went by, the accounting profession has learned quite a lot from the experience gained. as a result, we have perfected our work processes and procedures to eliminate all the wrongdoing made by people trying to use bad work ethics to their advantage.
as the business world become more and more complex, the need from the accountant to become more create has grown dramatically. that created a real difference between the different functions within the business. and overall that created the new position account payable manager and account receivable manager. those two positions can tell you a lot about the need that was missing in past. any position created has the economic logic behind it. a good Accounts payable manager will save the company money by employing advanced tactics to make sure the company benefits from payment strategy.
a very good account receivable manager will make sure the company financial performance is at the highest level. as a result the company will be able to utilize a better DSO, that will enable it to outperform its competitors.
So what is strategic account payable anyway? in the field of account payable there are the basic operations and there is the best practices approach that focuses on getting the best adjustment for your business that gives you the superior result in the long term.
Strategic account receivable based on the best practices in the field of account receivables and is key to many businesses success. good sets of practices will empower the business for a better results with same resources over a long period of time.
Our commitment is to put you at the best possible position when competing in your industry. Applying these practices will give you the edge and set you up for success.