AP Now Episode 7: Mary Schaeffer on the Evolving Nature of the AP Function

In this episode, AP Now’s Mary Schaeffer evaluates the rapidly evolving nature of the accounts payable function. She bases her views on two polls conducted by AP Now and shares insights from two colleagues, as well. She compares how the AP function was viewed negatively in many organizations 20 years ago with the more positive light it is seen in today. She shares that the image of the accounts payable department has improved in the last few years at over two-thirds of the organizations participating in a recent poll.

Schaeffer also shares statistics on the number of organizations that are now receptive to having their accounts payable staff work remotely. The benefits are impressive (improved morale and lower turnover). She mentions that invoice automation is now something that is within the reach of every organization. Her colleagues also expect accounts payable departments to take advantage of newer technology such as blockchain and RPA. Mary Wallace expects continued pressure on organizations to become profit centers and she shares how this can be done.

The podcast ends with Schaeffer telling listeners how they can a copy of the reports she mentioned as well as her consensus that the future is likely to encompass all the issues she and her colleagues discussed.

Host: Mary Schaeffer (www.ap-now.com)

Sponsor: Stampli (www.stampli.com/APNow)

Credit: Music: https://www.purple-planet.com