Implementation Issues for Accounts Payable Best Practices
This section notes a number of issues related to the implementation of each best practice. The reader should peruse Exhibit 3.1 to ensure that the effort required to install a best practice is in agreement with the available constraints. For example, automating expense reporting is listed as requiring a long implementation period and being moderately expensive (all because of the programming required). If the reader has a large staff of traveling employees who constantly submit expense reports, this may be a viable option, despite the projected implementation barriers. However, if only a few expense reports are submitted, then perhaps this is a best practice that should be passed over in favor of more practical opportunities.
|Best Practice||Cost||Install Time|
|3–1||Pay based on receiving approval only|
|3–2||Reduce required approvals|
|3–3||Use negative assurance for invoice approvals ...|