Helping AP Teams Navigate the COVID-19 Pandemic

It has clearly been an unprecedented and unsettling past two weeks. Amidst all of the recent chaos, the one thing that has become apparent is the need for community.  Communities are important in times like this as they provide support, guidance, and assistance while navigating uncharted waters.

Communities take many different forms, but being Finance and AP professionals, the community we have been hearing from is the global AP community.  Over the past week we have heard stories from this community about the enormous pressure AP and Finance teams have been under to perform their duties in this rapidly changing environment.  These stories made us look inward and ask ourselves what more we could be doing to help support the AP community, our community, during this time. Here is our plan:

 

First, enable Remote AP everywhere.  As companies around the globe have shifted to work from home mode, managing AP efficiently, transparently, and securely in a remote setting is the topic on everyone’s mind.  To help the AP community with the switch to working remotely we are:

a. Offering training seminars and other tools to make sure that you are getting the most out of our AP Automation in a remote environment. Check out the recording from our April 1, 2020 webinar on “Best Practices to Ensure AP Continuity in a Remote Setting”.

b. If you are having trouble managing your paper invoices being sent to your office, we can help by setting up a dedicated PO Box for invoice receipt and scanning.

c. Ready to assist in enabling entities that haven’t yet adopted AP Automation so they can put it in place quickly.  We have put the resources in place to get new entities up and running in as little as a few days.

 

Second, help all companies generate extra cash flow through AP.  It’s a well known AP best practice to minimize checks and put as much spend as possible on virtual credit cards to generate rebates.  Another benefit is that it will also help your vendors because their payments will be deposited directly into their bank account, cutting out the need for handling paper checks.

 

Third, assist the health care providers that are on the front lines of this pandemic.  To help support their efforts, we will work diligently with frontline organizations on their AP automation needs. Provide them the critical support and tools needed to run their organizations and manage cash effectively during the pandemic so they can solely focus on patient care.

 

If you have any questions and would like to discuss your options, please contact us at [email protected]

Those of us in the global finance and AP community know the immense strain organizations are feeling right now as they look after the physical and fiscal health of their employees and companies.  We are all in this together and we stand with you as you tackle the immediate need of managing AP remotely and the longer term needs of managing cash more closely than ever.

Stay healthy and be well,

Micah Remley
CEO
MineralTree