Accounts Payable Trends to Watch Out for in 2022

The past year has been a transitional period for many businesses. While some office operations have returned to normal, several challenges brought about by the pandemic remain. Learning to operate in this new environment has forced companies to embrace innovative and flexible approaches to processes like accounts payable (AP).

As the end of the year approaches, it is an ideal time to look back at how AP has changed over the last twelve months and look ahead to how organizations can best position their finance departments for success in 2022.

Remote and Hybrid will become permanent

The COVID-19 crisis may have accelerated the adoption of remote and hybrid work across the globe, but the concept had been gaining attention from before. Based on statistics, the trend has accelerated during the crisis, and evidence suggests that it will continue to grow.

According to one study, 62% of employees aged 22-65 worked remotely at least occasionally during 2021. It also found that 80% of respondents expected to work from home at least three days a week once the pandemic was over.

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