5 Easy Steps to Maximize Cashflow in Your Accounts Payable Department
An A/P department can’t function without proper cashflow, so we’ve compiled five key tips to prevent cashflow crises.
Sloppy A/P departments ignore cash optimization until it’s too late. Then they enter crisis mode, holding onto any possible cash and violating payment terms. Smart businesses, on the other hand, address cashflow issues proactively.
To prune weaknesses and optimize your cashflow, follow the best practices outlined in this guide. Your A/P department will be able to strengthen its position, thus preventing cashflow issues and maximizing its productivity.
This guide will help you:
Understand the importance of good cashflow
Identify weaknesses in your A/P department’s current system
Understand the best practices of good cashflow in five clear stages
Create a system to ensure strong cashflow in the future
Improve the productivity and reliability of your department