Accounts payable controls
I can remember my time working in a manufacturing company as a financial controller and later a systems manager like it was yesterday. One of the great experiences I had was working with and configuring SAP.
One thing it changed in the company was the Accounts Payable (AP) process. My company at that time was quite good at ensuring only genuine suppliers were created. But that’s been newly 15 years ago now and I know the AP processes have become even more automated.
So this article in the Journal of Accountancy really interested me. It seems proper AP controls evade some companies still, but when managed well add to the bottom line. Have a read of the full article