AP Control Panel: Accounts payable is a window to working capital
Hyland and the Institute of Finance & Management have partnered to create the AP Control Panel, a first-of-its-kind tool to evaluate AP departments’ level of control over operations, cash flow, compliance and security. Learn more.
It’s a given that accounts payable is responsible for paying the organization’s bills, but there’s more responsibility there than meets the eye. Because a substantial chunk of the organization’s cash goes through AP’s hands, the payables department should be able to provide insight into the liabilities of the company at any time.
Having a good grasp on this data is also key to understanding the fiscal health of the company. Yet how many organizations really get the timely business intelligence on working capital that’s needed by Treasury?
To determine just how much information on working capital their systems can provide, the Institute of Finance and Management (IOFM) and Hyland analyzed AP Control Panel data from over 300 AP professionals.