Organizations are in the midst of transforming their AP function from being involved in tactical activities to being aligned as a strategic partner to overall organizational achievements. The perception of accounts payables is slowly changing, as they are now being identified as a thriving intelligence hub and profit center, one that collaborates as a strategic partner not only with other departments, but more importantly, with the supply-base to make a positive impact on the bottom-line.
As per a survey conducted by Ardent Partners for their report “ePayables2016”, the AP department collaboration with suppliers ranks higher than their level of collaboration with any key stakeholders within the organization.
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