If you haven’t yet heard of, or worked with an AP Change Maker, that’s something which is likely to change in the near future. Or, most likely – you already work with someone who’s well on their way to becoming one.

For several years the AP industry has been facing huge changes, both in technological advances, and in process improvements. But that’s not all. The change has also been one of perception and an acknowledgement of the power that lies within Accounts Payable to transform the way the finance function operates. Increasingly, the value of an AP department goes straight to the heart of an organisation’s bottom line figures. With their hands firmly on the purse strings – given the right kind of recognition, power and responsibility, AP professionals are becoming instrumental in maintaining and driving profitability.

The fundamentals driving this change have their roots in cost reduction and maintaining efficiency - which over the years since the recession have become increasingly important - in many cases - simply for organisations and those in their supply chain to stay afloat. And the enablers have been the new technology behind improved processes. But, as with most things, it usually takes someone to pick up the mantle and make those changes happen successfully. Increasingly, that role is being headed up by the AP Change Maker – someone who’s good at spotting inefficiencies, someone who can spot opportunities for cost reduction and the benefits of connecting with the different P2P departments as well as ensuring supplier enablement.

Today’s AP environment can be complex – invoices coming in to the business in several different formats, some to a disjointed de-centralised organisation, frequently with a convoluted approvals and compliance process. And with less than 11% of organisations saying they work in an entirely automated fashion, the continued reliance on manual processing, means a lack of visibility and control. All of which leads to error, inefficiency and even raises the possibility of fraud.

The rise of the AP Change Manager offers the solution to the problem, both in terms of that person themselves, but also the rise in the use of the job title is a recognition within the industry itself, of the relevance and importance of that change and having the right someone to implement it. Someone employed to take the company and the department forward, and importantly – to raise the department’s visibility to C-level executives and gain critical buy-in from the senior management team. With the right person, technology and processes in place – the change maker has the ability to produce a rapid turnaround in productivity and via efficiency improvements, go a long way to protecting working capital and improving supplier relationships by enabling on time payments, or capturing early settlement discounts. And with the possible inclusion of a dynamic discounting or supply chain finance solution, offering suppliers better access to cash, and improved risk management.

Today’s AP is no longer a quiet back office transaction house, but is increasingly a key operational area of business and, as is already the case in some major UK corporates,  transforming functionality to sit within one broad, deeply interconnected purchase to pay department.