The Experts in Accounts Payable
AP Professionals & Divisions Grow Here
At Bloomstudy, we are dedicated to providing comprehensive training and consulting services in the field of Accounts Payable (AP). As experts in the field, we are committed to helping individuals and businesses optimize their AP processes and excel in the finance and accounting industry.
We specialize in equipping new AP professionals with the necessary skills to kick-start their career and connect with their first AP role, as well as providing guidance to existing professionals for career growth.
Additionally, we offer tailored consulting services to businesses aiming to streamline their AP operations or implement AP automations and advanced systems. Our mission is to drive innovation and excellence in AP management through technology-driven solutions and expert mentorship.
Why Choose Bloomstudy?
The Power of Payment
Automation vs Manual
Whether an organization's Accounts Payable processes are automated or manual, teams need to understand the logic and principles behind the process in order to effectively make the decisions entrusted in them.
Risks of not training your AP teams
lead to…
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Overpaying causing loss of funds
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Missed payments causing harm to vendor relationships
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Supplier credit holds from lack of payment
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Costly inefficient processes - the average cost of processing an invoice for payment is $15 per invoice
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Increase risk of fraudulent payment processing (external and internal fraud)
Common, Costly, Yet Honest Mistakes
Due to the lack of training most AP staff receives, inefficiency gaps are wide, as well as the risk of fraud detection and overpayment.
AP teams are underestimated. Accounts Payable divisions may not make you money, but mistakes can cost you.
AP Makes the World Go Round
They say money makes the world go round, but who is making those payments? CEO's and Directors may authorize payments, but it’s the AP teams that are handling, controlling and executing payments that can often range up to MILLIONS of dollars A WEEK. AP teams are vital to the continued functionality of any business.
Critical Function Often Neglected
Accounts Payable is a critical function for any organization. Often times Accounts Payable staff are unfortunately not trained in the principles and techniques that create healthy Accounts Payables processes and Teams.
Moving to Automation
Automation does not always equal less AP staff needed, it means their skills will need to be adapted. Automated process require AP staff to gain advanced technical skills and knowledge to continue invoice processing and payments without delays.
Our Theory
The basics of Accounts Payables are simple, so training is undervalued and organizations assume anyone could process an invoice with minimal knowledge. Partly true. Most people could probably figure out how to pay a bill for an business, it's SO EASY they could also make a costly mistake and lose your organization BIG money. Training and controls are critical for this role.
Accounts Payable Industry
Accounts Payable (AP) is consistently in demand, as every company requires this function, even with a rise in automation, making it a recession-proof role.
Open Positions
In the United States, there are consistently between 24,000 and 27,000 open Accounts Payable positions, according to various online job boards. Depending on the area, employers must act quickly to secure the most skilled candidates in the market.
Average Salary
$45,000 - $68,000
Depending on your location and size of the company, AP Specialists can earn a comfortable salary with minimal experience required.
Industry Growth
The overall AP market is projected to grow from $1.42 billion in 2024 to $2.79 billion by 2032, with an annual growth rate of 8.83%, according to Market Research Future. This growth will require more savvy AP professionals to work with new technologies and run automation systems.
Book a Time | Learn More
30 min
Free session
45 min
30 US dollars
45 min
30 US dollars
Available OnlineRead MoreShare your AP challenges and discuss how Bloomstudy may be able to support your organization
30 min
Free session
