Definition
The total amount a company owes for goods or services it has received but has not yet paid for.
Learn more about Accounts Payable
When it comes to inbound freight management, many companies are missing the mark. They are failing to pay adequate attention to this crucial connection between themselves and their suppliers. By doing so, these companies risk leaving a significant…
Many companies do not have processes in place to control procurement spending, leading to millions in wasted dollars from untracked dark purchases.
A chief procurement officer offers organizations a specialist focused on managing spend, but not all organizations have such a position.
The infographic presents how the governance and reporting structure for procurement and AP can vary. It also presents how changing process ownership can encourage communication and collaboration.
Adopting a global process owner can lead to improvements.
We all want to conserve working capital by extending payments. But here are five ways procurement can save money while paying suppliers.
Freight transportation providers responded to COVID-19 pressures heroically, becoming leaner, more collaborative and efficient. Patrick Burnson reports that while this is good news for the nation’s freight network, shippers should expect…
Navigating the road to post-pandemic normalcy will be a major challenge for all transportation providers
A new independent study carried out by research and analyst firm PayStream Advisors found that the most common practices for managing cross-border payments are neither the most efficient nor the most affordable. Instead, they cost organizations…
