Almost Half of Irish Finance Leaders Doubt Real-Time Payables Control, Survey Finds
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A new survey of 200 senior finance professionals in Ireland suggests that many businesses find real-time control of accounts payable (AP) very difficult to achieve. Accounts payable is the money a company owes to its suppliers for goods and services it has received. In the survey, 42% of respondents said they were more likely to crack time travel than to achieve real-time AP control.
Real-time AP control means that a business can see its payment obligations as they happen, rather than waiting for month-end reports or manual checks. Finance teams use this kind of visibility to understand their cash position, avoid late or duplicate payments, and plan their spending more accurately. Without it, managers may not know exactly how much money is committed to suppliers at any given time.
The finding highlights a gap between what finance leaders want and what they currently have. Many of the professionals surveyed appear to believe that their existing systems or processes are not able to provide this level of information quickly. The survey does not explain every reason for this view, but it shows that the problem is widely felt among senior staff in Irish finance departments.
For Irish businesses, the results point to a practical question: how can companies improve how they track and manage supplier payments? Experts in the field often recommend reviewing current systems and processes to find out where delays or gaps occur. As more firms look for ways to strengthen their financial management, improving AP control may become an increasingly important part of their planning.
Sources: Irish Tech News
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