Accounts Payable and Credit Management: Two Sides of the Same Coin

This blog post summarizes a conversation between Jamie Radford, CEO of the Accounts Payable Association (APA), and Sue Chapple, CEO of the Chartered Institute of Credit Management (CICM). The discussion highlights the importance of collaboration between accounts payable and credit management professionals.

Jamie Radford's Journey

Jamie’s career path began with a desire to work with numbers. Although he initially aimed to be an accountant, he discovered a passion for people and process management. He emphasises the value of hard work, discipline, and a strong foundation in core skills.

The Rise of the APA

Jamie observed a gap in support for accounts payable professionals compared to other financial sectors. This motivated him to establish the APA, a membership organisation focused on training, events, and building a strong community.

Hot Topics in Accounts Payable

The conversation identifies two key areas in accounts payable: payments and fraud. Fraud prevention is crucial due to the increasing sophistication of fraudsters. Additionally, ensuring timely payments and fostering a positive payment culture are significant challenges.

Collaboration Between APA and CICM

Both the APA and CICM play vital roles in supporting professionals on opposite ends of the financial transaction. By working together, they can provide valuable educational resources and events. This collaboration can benefit businesses by promoting best practices for both credit and payables processes, ultimately leading to a smoother financial flow.

The Future of Collaboration

The discussion concludes by highlighting the potential for future collaboration between the APA and CICM. This partnership holds the promise of significant improvements in financial management practices for businesses.