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Precision Metals Accounts Payable Structure

Windy Smith

Strayer University

BUS 520: Business & Leadership

Professor Dr. Wanda Tillman

The organization that I will be selecting is ABC Specialty Materials. ABC Materials is a global company that specializes in high performance materials. These materials can be found in airplanes, bio-medical and aerospace industry.

The problem that I will be analyzing is eliminating the need for individuals of the accounts payable team coming into the office to print invoices for processing for payment. Due to COVID 19, management made the decision to allow accounting staff to work from home. Given the nature of the busines and the structure of the department, there are going to challenges from the account payables team.

This current process is not effective. Employees are not equipped to print from home due to how invoices are received electronically and by direct delivery. Continuing with the current process still places the employees at risk of contracting COVID 19. It also places the company in a vulnerable position of missing critical invoices that could cause services to be interrupted.

The department has a process in place in which freight invoices are automatically interfaced into the financial system. In my research, I will offer recommendations that will show possible solutions the company should take to eliminate waste and gain efficiency in which the department will have a better grasp in processing invoices as well as projecting budget. In critical times that we are in and given the nature of the business that the company is in will play a huge part on first pass yield.

Although the company is making great strides in ensuring that all employees are safe, it still has areas in which some employees are forced to come to the office. In implementing these changes this will be a win for all. By implementing these changes, will improve outdated practices and open the door for new and innovative ideas that will serve as an example for other areas to be reviewed for process improvements.