Most modern accountants and accounts payable (AP) professionals have not operated in an environment where inflation was so high that it affected the decision-making process.
As inflation reaches generational highs, organizations are looking to build more resilient businesses that can withstand rising prices and the higher cost of capital. AP may be a good starting point to build that resiliency.
By investing in automation technology, AP teams can enact specific strategies that enable their organizations to confront today’s economic realities head-on. Consider these four strategies to manage AP in a time of high inflation.