Key aspects include:

• Cash Flow Management: Ensuring that there is sufficient cash to meet obligations while optimizing the timing of payments to maximize working capital.
• Supplier Relationships: Negotiating payment terms and maintaining good relationships with suppliers.
• Policy Development: Creating and enforcing policies to ensure all payables are processed efficiently and accurately.
• Compliance: Ensuring all transactions comply with relevant laws and regulations.
• Technology Utilization: Leveraging accounting software and automation tools to streamline processes.