Running Head: UNIT 1 ASSIGNMENT1Unit 1 AssignmentNameInstitutional AffiliationUNIT 1 ASSIGNMENT2IntroductionIn the modern business environment, many organizations in every sector are underconstant pressure to do more with less. That implies that organizations cannot afford to wasteopportunities to free up their working capital. While there are many ways to free up the workingcapital, many organizations have started to utilize accounts payable to reduce costs, streamlineprocesses, and seize new investment opportunities that may arise. Accounts payable (AP) hasbecome a crucial instrument for operational and financial intelligence for the organization, andhas become a strategic function. Since every transaction that generates an invoice must passthrough the AP process, accounts payable has become an important resource to help achieveworking capital goals of the organization.The purpose of this article is to examine how accounts payable controls improve theorganization. Primarily, the focus of this article is to develop a clear correlation and trajectorybetween accounts payable and improving the working capital of the organization. To utilize theaccounts payable in order to improve the working capital portfolio, many of the organizationhave started to leverage on technological innovations such as automated invoice, improvingelectronic data interface, and through a routine update of coding instructions (Kaskinen, 2007).This article is structured into a ...
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