The obvious benefits of strong process compliance control include having smooth operations, minimal disruptions and time spent on retroactively investigating undesired exceptions, and having a clear overview and predictability on how much money you're spending on what and when it is spent – this helps with budgeting and forecasting. Why having control over your process compliance is essential I will also share how the data-driven Process Mining methodology ( read: what is process mining) can help you not only catch common compliance violations but also prevent future ones. ![]() ![]() If these questions resonate with you, keep on reading! In this blog, I will walk you through why understanding your real-life Accounts Payables process is crucial in tackling late payments in your organization. Some questions to think about for someone managing the Accounts Payable process: As the volume of invoices to be paid grows exponentially, how do we maintain control of the invoice payment flow? How can we detect non-compliant payments and act on them before they become a problem? What's the worst thing that can happen when an invoice is paid late? In many companies, it is standard practice to hold on to as much capital as possible at any given time by waiting until the last moment to pay your dues to suppliers. In an ideal world, bills are always paid just in time before their due dates.
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