#accounts-payable

Most AP SOPs gather dust in shared drives. The ACFE estimates organizations lose 5 percent of revenue to fraud, and AP is a primary target. This practical accounts payable SOP tackles segregation of duties, 3-way matching, and month-end close with workflows people will follow every day.

Most invoice approval processes are broken email chains. APQC benchmarks show top-performing AP departments pay in 2.8 days while bottom performers take a week or more. Here is how to build an invoice approval process with clear thresholds, three-way matching, and real accountability.

SAP Concur research shows most AP departments lose 1 to 2 percent of total spend to duplicate payments alone. Fix the accounts payable process before layering on automation or AI tools.