6 Strategies to Optimize your Accounts Payable & Fuel Your Business Growth

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Transcript of 6 Strategies to Optimize your Accounts Payable & Fuel Your Business Growth

Page 1: 6 Strategies to Optimize your Accounts Payable & Fuel Your Business Growth

6 Strategies To Optimize

Your Accounts Payable &

Fuel Your Business Growth

FAS - FONTANILLA ACCOUNTING SOLUTIONS, KATY TEXAS

Page 2: 6 Strategies to Optimize your Accounts Payable & Fuel Your Business Growth

Centralize your

accounts

payable

All employees must follow

established practices and

standards.

Accounts Processing

and Reporting

Page 3: 6 Strategies to Optimize your Accounts Payable & Fuel Your Business Growth

Automate your accounts

payable systems

Ditch the papers and move to

automated systems to

improve your productivity

pace and avoid delayed

invoicing and payment

receivables.

Electronic Data Systems

and Processes

Page 4: 6 Strategies to Optimize your Accounts Payable & Fuel Your Business Growth

Implement a

robust internal control practices

You can reduce the risk of

manual error with a

strengthened internal control

practices on accounts

payable processing.

Internal control and risk

management

Page 5: 6 Strategies to Optimize your Accounts Payable & Fuel Your Business Growth

Set -up

e lec t ron ic

por ta l fo r

supp l i e r s

Cut your time in order

processing with a centralized

portal for suppliers that can

track orders, deliveries,

payments, etc.

Centralized supplier

portal

Page 6: 6 Strategies to Optimize your Accounts Payable & Fuel Your Business Growth

Develop

management

workflows

Streamline your process

for improved liquidity

management that can help

you detect and resolve any

barriers.

Enhancing efficiency of

accounts payable

Page 7: 6 Strategies to Optimize your Accounts Payable & Fuel Your Business Growth

Boost your

approval process

Define the management

hierarchy and establish a

robust practice on approval

processes reducing risks

while optimizing operational

performance.

Authorization hierarchy

and process

Page 8: 6 Strategies to Optimize your Accounts Payable & Fuel Your Business Growth