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Prioritizing Payables

In the case of Accounts Payable (AP) management, most businesses don’t handle high-value invoices differently than routine payables—mainly because they don’t recognize what invoices are high-value or don’t have a process to treat them with priority.
The conventional thinking in accounts payable processing is that an invoice is just an invoice, regardless of its possible impact on the bottom line. Many companies don’t focus on invoices that matter most, and handle all AP the same—creating a cascading effect that leads to inadequate operational control, inefficient business processes, and excessive transaction costs.
 
There is a better way. Accounts Payable Segmentation is an approach that involves separating and prioritizing invoices based on their type, characteristics and level of importance. AP Segmentation is also the process by which companies consistently identify “Critical AP”—the 20 percent of payables that are most strategic or problematic to the operation of the business. 
 
This paper explores how organizations that focus available resources on the most troublesome and essential segments of accounts payable stand the most to gain from automation and overall process improvement.
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