The tactics that managers in the accounting function use to streamline payables processing now vary sharply with company size. This is a key finding in an IOMA survey in which respondents identified “the most successful changes implemented in the payable department.” Altogether, IOMA asked roughly 500 participants to identify up to five changes that yielded a “success” in payables. Interestingly, respondents at all five employment levels in the survey cited one tactic—improve accounts payable (AP) systems and procedures—as their most successful change. In this annual survey, which IOMA began in 1995, this broad-brush tactic has always topped the charts.
At the same time, this survey shows that the “success” managers in accounting have with these 21 change options vary with company employment levels. For example: