This comprehensive checklist provides an honest self-assessment for distribution leaders to evaluate whether their accounts payable function has reached optimization across key performance areas. Leverage this tool to identify remaining gaps and map out a path toward AP excellence!
As you progress through this checklist, assess which checkboxes your organization can confidently complete. Apply the scoring rubric at the end to gauge your overall accounts payable optimization maturity and identify outstanding areas for improvement.
AP Optimization Checklist
Optimization Scoring
18-20 checkboxes: Optimized AP Leader
You've achieved comprehensive accounts payable optimization across processing efficiency, cash flow excellence, preventative controls, governance, and technology capabilities. However, complacency can lead to regression - pursue continuous improvement audits!
14-17 checkboxes: Defined, but Some Opportunities Remaining
Your organization has solid AP foundations and mechanisms defined, but likely experiences isolated issues in certain processes, functional areas, or tech utilization. Prioritize remediation initiatives in those gaps to reach full optimization.
10-13 checkboxes: Inconsistent or Fragmented
While you may have localized optimization bright spots, your overall AP operations might be suffering from inefficiencies, lack of standardization, and fragmented processes/systems. Chart an overhaul roadmap to establish holistic consistency!
<10 checkboxes: Substantial Modernization Opportunity
Severe AP deficiencies are undercutting profitability and working capital performance. Extensive modernization can recover millions in lost revenue!
The Competitive Advantages of Optimized AP
For too long, accounts payable has been an overlooked back-office utility at many distribution companies.
However, in today's increasingly competitive landscape requiring working capital flexibility, an optimized AP capability is a mission-critical component for industry leadership.
Use this checklist periodically to gauge your optimization progress and identify gaps. Leverage the assessment as a tool for continuous improvement. With commitment and the right optimization roadmap, your distribution organization can absolutely elevate accounts payable into an optimized profit accelerant!
Integratz specializes in comprehensively benchmarking key AP performance areas. Armed with this data analysis, we then engineer tailored solutions leveraging advanced automation tools to eliminate bottlenecks and wasteful processes.
If you've struggled with cash flow and are interested in learning more about accounts payable solutions, find a time to connect with us here. We'll map your unique challenges and requirements to spotlight the areas for maximum savings and efficiencies.