To prepare for upcoming growth, there was a need for an evaluation of the organizational structure, processes, tools, technologies, and metrics to improve the company’s accounts payable function across corporate and field personnel.
Without the appropriate accounts payable structure and associated efficiencies in place, the company would not have an accounts payable department capable to effectively handle future growth.
Stache & Associates was responsible to evaluate people, processes, and technologies within the accounts payable functions, including Document Management, Invoice Capture, Exception Management, Inquiry Management, Payment Processing, and Vendor Setup.
Stache & Associates conducted interviews and shadowed accounts payable personnel and senior accounting/finance executives. We documented current state observations along with future state improvement opportunities. Next steps were grouped into major themes including improvements to Project and Change Management for key accounts payable initiatives; organizational alignment to drive efficiencies; performance management & reporting enhancements; and standardized processes & training program development.
Improvement opportunities and recommendations resulted in Stache & Associates being engaged to implement solutions with an initial focus on putting the right people in the right roles, developing and documenting standard processes and training. These improvements ultimately led to an organization capable of absorbing rapid organizational growth.
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