There have been more changes in Accounts Payable in the last five years, then in the previous ten years. This rapid rate of change can be primarily attributed to the growth in technology solutions. Many A/P organizations' that invested in such technology have earned the designation as "Best-In-Class."

The Hackett Group, which specializes in Benchmarking, defines "Best-In-Class" as being in the top 25% quartile in both qualitative measurements and traditional quantitative measurements such as cost, cycle time, quality and productivity.

It is natural for every organization to strive to be the best. However, once accomplished the danger is to become complacent, assuming your success will continue.

Complacency has no geographic boundaries.

I recently returned from Johannesburg South Africa, where I conducted A/P certification review and testing for the Gauteng Province Shared Service Center. The center was established to provide superior customer service to the various government agencies within the Province. The Finance Minister has put in place the GSCC 2010 Transformation Roadmap, addressing key objectives in achieving their vision. They have adopted the rallying cry "Business Unusual," recognizing that the organization cannot and indeed must not continue business as though the current operating environment is normal.

While working with A/P professionals in Bermuda late last year, I read a quote from a speech by Paula Cox, Minister of Finance, stating that: "Innovation means you are looking at how to do things differently and maximize shareholder value, and shareholders are the people of Bermuda. You actually have to change, and that’s the challenge. On the social agenda the focus is on sustainable development. The death of our continued economic development and visibility is complacency, and that should never be allowed to happen, because if we become complacent, we become yesterday’s news."

Best is the Enemy of Better.

We anticipate that the rapid pace of change will continue, and the only way to deal with it is to continually challenge yourself to look for better opportunities to improve you’re A/P process and not be comfortable about your current status.

The last thing you want is to become yesterday’s news.

Tom Nichols, president of Process Management Improvement, Inc., provides research, AP process improvement consulting, training and seminars to large companies and financial associations. Email Tom Nichols