wpdesigns – International World Of Business

Norwegian Cruise Line Holdings donates $50K to Hawaii flood relief

wpdesigns — Tue, 07 Apr 2026 17:10:10 +0000

Norwegian Cruise Line Holdings announced a $50,000 donation to support communities impacted by recent severe flooding across Hawaii, including $25,000 each to the Lāhui Foundation and the North Shore Chamber of Commerce, two organizations leading critical relief and recovery efforts.

NCLH’s donation will directly support immediate relief needs, including food distribution, cleanup efforts and assistance for displaced families, while also contributing to long-term community recovery and resilience.

Facing immense challenges

“These communities are facing immense challenges in the aftermath of these historic floods,” said Dan Farkas, EVP and general counsel, NCLH. “Supporting the communities we visit is central to our ‘Sail & Sustain’ program and our broader commitment to creating lasting value in the destinations we serve. We are focused on doing our part to help our partners and neighbors recover, rebuild and emerge stronger.”

Back-to-back Kona low storms brought unprecedented rainfall, triggering the worst flooding in more than 20 years and causing devastating damage across Oʻahu and Maui. The North Shore of Oʻahu was among the hardest-hit regions, where floodwaters displaced families, damaged homes and farms, and prompted thousands of evacuations and emergency rescues.

Grassroots relief efforts

The Lāhui Foundation has been at the forefront of grassroots relief efforts, coordinating volunteer support, distributing essential supplies and funding community-led recovery initiatives across impacted areas. The North Shore Chamber of Commerce is working closely with local businesses and residents to restore economic activity and provide resources to those affected.

Both organizations expressed gratitude to NCLH for their support.

Weather-diverted Valiant Lady starts Port Saint John’s season early

wpdesigns — Mon, 06 Apr 2026 19:22:20 +0000

Port Saint John is gearing up for the maiden arrival of Virgin Voyages’ Valiant Lady on Wednesday due to a weather-diverted itinerary, originally bound for Bermuda.

This makes an early start for the port’s cruise season, which was scheduled to begin June 20.

Rain and blustery showers with strong winds are forecast mid-week in Bermuda.

New York roundtrip

The sister of familiar caller Brilliant Lady is scheduled to arrive early morning April 8 at Saint John’s Diamond Jubilee Cruise Terminal after sailing north from New York City on Monday. The five-night roundtrip is due back in New York April 11.

Rolling out the welcome mat

The Port Saint John community and broader tourism ecosystem have come together to roll out the welcome mat for Valiant Lady, aiming to provide a memorable and positive visit for the 2,000 or so passengers.

“Our ability to embrace opportunities like this on short notice speaks to the strength of our port and tourism ecosystems, as we come together collectively to ensure every call is a success,” said Natalie Allaby, director of cruise excellence at Port Saint John.

“We’re proud to welcome Valiant Lady and her sailors, and show them the very best of what Saint John has to offer.”

Returning in September

Valiant Lady will complete its Bay of Fundy debut when it departs in the early hours of Thursday, and is scheduled to return to Port Saint John in September.

Carnival’s Celebration Key certified sensory-inclusive

wpdesigns — Mon, 06 Apr 2026 19:13:13 +0000

Carnival Cruise Line’s Celebration Key in Grand Bahama became the first cruise destination to earn KultureCity’s sensory inclusion certification.

This was announced during World Autism Acceptance Month. On April 3, a sensory room pop-up at Celebration Key lets guests can experience a calm, controlled environment designed to help with sensory regulation.

The pop-up sensitivity room, available April 3 at Celebration Key PHOTO: CARNIVAL CRUISE LINE

More than 2m cruisers visit Celebration Key

With more than 2m cruisers visiting Celebration Key, Carnival said its certification highlights a commitment to making every guest’s experience inclusive and fun, including families with sensory needs.

For the last six years, Carnival has partnered with KultureCity, a leading nonprofit organization that creates sensory-inclusive spaces for individuals with invisible disabilities such as autism, dementia, PTSD and sensory processing disorders. KultureCity is recognized worldwide for certifying venues to better serve individuals with these sensitivities.

400 team members trained

At Celebration Key, more than 400 guest-facing workers have been trained to help visitors with sensory needs navigate the destination and have fun. Free sensory bags with noise-reducing headphones, fidget tools and glasses with filters to block out strobe and bright lights are also now available. The bags include a VIP lanyard with a headphone logo and light bulb symbol to discreetly signal to Carnival team members that the guest may require additional support or accommodations, as well as a feelings thermometer that allows non-verbal guests to point and communicate their emotions.

Shipboard and reservations training

Other Carnival efforts implemented in partnership with KultureCity include training shipboard staff and shoreside call center representatives who interact with guests during the booking process.

Preparing the Public Sector to Navigate the Digital Transformation of Transport in Latin America and the Caribbean

wpdesigns — Wed, 04 Mar 2026 19:57:24 +0000

Digital technologies are embedded in the fabric of our transport systems, from the humble automation that enables traffic lights, to the evermore present platforms that enable the movement of passengers and cargo. What previously were complex booking processes are now simple click and agile flows of information. This digital transformation of transport can simultaneously feel futuristic and natural, or even mundane. Emerging technologies like automated vehicles or drones seem remarkable, yet they represent only the most visible aspects of a process that goes substantially beyond the adoption of technologies.

The digital transformation of transport signifies a fundamental shift in the sector’s organization and business models. This shift can disrupt existing roles, create new service models, and requires not just technological changes, but operational, organizational, and cultural changes as well. These changes are enabled by unseen digital infrastructures and networks, which allow for information to flow and payments to be processed, and they rely on both visible and invisible communication technologies. These digital infrastructures overlay traditional transport infrastructures and together build the changing landscape of the digital transformation of transport.

An example of these building blocks is mobile communications. In Latin America and the Caribbean (LAC), more than 84% of the population owns a smartphone. In the Caribbean region alone, the past 10 years have seen 3G and 4G coverage nearing universal range in several countries, and most countries of the subregion have a higher number of internet users than the global average. From digital payments in mobility, like Barbados’ Transport Board newly-implemented cashless system, to whole Port Community Systems being progressively deployed across the Caribbean, digitalization in transport appears to be an irreversible trend. These changes can have undeniable benefits with unprecedented efficiency gains, as a result of increased visibility and the coordination or integration of processes between actors, improved service quality, improved transparency and visibility for accountability, and reduced emissions from operational and energy efficiency.

The digital transformation of transport has not only changed transport systems but the government’s role within them. Digitalization brings changes to the public sector’s functions, value proposition, citizen expectations and responsibilities in the transport sector. Regulation, a traditionally slow process in government, now has to keep up with the rapid evolution of technologies like connected infrastructure, and mobility-as-a-service (MaaS), allowing for benefits and new industries to grow while preserving safety and security. Governments can also benefit from increasing amounts of data to better allocate resources and plan transportation policies, for example using sensors and historical data for real time traffic management.

In a 2022 study by the IDB a survey found that 69% of representatives from the public transportation sector cited a lack of digital culture as a barrier to advancing the digital transformation of their organizations. A short supply of specialized talent was also identified by 35% of respondents. This sectoral finding confirms trends across the public sector in LAC, where many efforts have been implemented yet digital culture and skills are still insufficient. The IDB then aims to accompany the region’s transportation public sector in building a digital culture, with free and available learning materials. That is why the course “Public Policy for the Digital Transformation of Transport” was created.

Public sector professionals who complete this course will not only gain a deeper understanding of digital transformation trends in transportation but also enhance their ability to contribute to policy development, strategic planning, and decision-making. With these new skills, they will be better equipped to foster innovation, increase transparency, and ensure more sustainable, efficient transport systems for the citizens they serve.

This short course will allow participants to understand the challenges of digital transformation and learn about technological trends that are shaping transportation, reviewing success stories, international case studies, and examples for the different sub-sectors: air transport, maritime transport, road transport and urban mobility. Additionally, based on the best practices of countries leading in digital transformation and lessons learned, it presents a set of public policy recommendations to accelerate the digital transformation of transport in the region.

This edition will include an optional experience for students that wish to expand their learning experience after the course, with additional impact evaluation and recognition of learning badges. Students will receive guidance to apply their online learning in real-world activities in their current institutions or environments. This novel method was designed by the IDB’s Knowledge and Learning Division and offers students the chance to receive certified digital credentials.

This course, Public Policy for the Digital Transformation of Transportation, is part of a broader regional effort to equip public sector employees in Latin America and the Caribbean with the skills and knowledge needed to navigate and lead the digital transformation of key industries. As governments across the region embrace innovation, participants in this course will be positioned to lead the charge in transforming the transport sector.

Digital Transformation for Safer and More Reliable Mobility in the Dominican Republic

wpdesigns — Wed, 04 Mar 2026 19:54:49 +0000

Many parents in the Dominican Republic live with the anxiety that their children have to cross streets under unsafe conditions to get to their schools. This fear is the reality for thousands of families: vehicles traveling at high speeds, limited information, and unpredictable traffic put people’s lives at risk. Road safety is one of the most urgent challenges facing the Dominican Republic, where an average of 2,900 persons lose their lives each year in traffic accidents, placing the country among those with the greatest risk of traffic-related deaths in the region.

In the face of this challenge, the digital transformation of the transport sector, an agenda supported by the Inter-American Development Bank (IDB), can become an important partner to help public institutions strengthen road safety and economic development. According to our recent study, a successful digital transformation of this sector can reduce inequality and generate a net increase in GDP greater than 4 percent.

Technologies such as electronic stability systems have the potential to reduce traffic fatalities by 67 percent, according to the World Bank. The availability and analysis of digital data can also facilitate more accurate interventions. For example, Nairobi used data sources such as social networks and police records to determine that more than half of the accidents there occurred on only 1 percent of the road network. This allowed for focusing infrastructure improvements on 45 kilometers instead of the entire network of 4,500 kilometers.

Measuring the Level of Maturity with RutaDigital

Aware of the opportunity, the Instituto Nacional de Tránsito y Transporte Terrestre (INTRANT) of the Dominican Republic has taken a significant step forward with the implementation of the INTRANT Digital Initiative. To support the country with this project and its Road Safety Policy Initiative (Política Nacional de Seguridad Vial – PNSV), the IDB’s Transport Division has conducted a technical visit to help the Dominican Republic identify the level of digital maturity of its road agencies through application of the RutaDigital methodology.

Developed by the IDB, RutaDigital measures progress on the digital transformation of road agencies against best practices. This allows for identifying strengths and opportunities for improvement in the use of technology and digitalization of processes that directly impact the public, supporting the design of precise interventions and the establishment of a baseline to assess progress. More specifically, the methodology assesses the level of maturity of the following dimensions:

Governance and institutions
Regulatory framework
Change management and digital talent
Processes and services
Sectoral digital technologies and tools
Crossing-cutting information and infrastructure technologies
Maturity and capacity relating to data

Illustration of the Result of the RutaDigital Tool

Product of the Transport Division of the IDB

Findings of the Diagnostic of the Potential for a Digital Future

During a mission in August 2025, INTRANT technical teams and IDB specialists analyzed the various components of the model associated with the management of safe mobility, including the dimensions of sectoral technologies, digital talent and change management, and maturity and capacity relating to data.

The application of RutaDigital offered a comprehensive diagnostic of digital maturity, with general and technical recommendations, including rapid improvements that can be structured in projects and other measures that create institutional roadmaps.

For example, the tool allows for identifying opportunities to develop and foster digital talent or to highlight opportunities to improve technological procurement processes. This ensures that digital investments are aligned with institutional priorities and the needs of all who use the roads in the Dominican Republic. The diagnostic provided INTRANT with a more holistic vision of the principal dimensions of its digital transformation process, enabling the institution to be better prepared to address the challenges of this transformation, optimize its activities and processes to promote safer mobility, and boost the INTRANT Digital Initiative.

From Diagnostic to Reality

The digital transformation is not an end in itself, but rather a tool to improve people’s lives by helping to ensure safer roads for their daily travels.

The digitalization of INTRANT will facilitate improving processes to manage and use data on road accidents as the basis for planning, implementation, and monitoring of safe mobility programs. At the same time, it will contribute to more agile and transparent procedures for citizens, opening the door to new forms of participation and the development of improved services. For the IDB, it is important to assist the Dominican Republic in this transformation, both with this initiative as well as others, such as the training of 41 transit agents of the Dirección General de Seguridad de Tránsito y Transporte Terrestre (DIGESETT) who will travel to Spain to attend a Master’s course in Road and Traffic Safety.

For the transport sector, the adoption of advanced technologies means more secure, efficient, and sustainable systems. From traffic monitoring to the management of licenses and permits, the potential of the digital transformation is enormous, and its benefits extend to all of society.

Why Miami Real Estate Developers Need a Nuanced Lending Strategy in 2026

wpdesigns — Wed, 04 Mar 2026 19:48:13 +0000

For decades Popular Bank has been helping Miami commercial real estate customers finance projects, bringing to life numerous developments across South Florida’s dynamic market. According to a recent CBRE survey, Greater Miami is now the second-largest investment market in the country. From ultra-luxury coastline and downtown Miami high-rises to more accessible developments, many projects are slated to be completed in the next year or two, signaling that the demand for financing will likely remain strong in 2026.

Popular Bank’s commercial real estate approach has zeroed in on two distinct lending options: bridge lending and construction financing. The bank’s team helps clients, including local developers and investors, understand which option to use and when, helping them unlock opportunities in one of the nation’s hottest markets.

Bridge Lending: a phased approach to financing construction projects

The bridge lending market has transformed dramatically in recent months. Less than two years ago, the rates were in double digits. The rate has since dropped below 10%, making bridge lending a more attractive and accessible capital option for borrowers.

For developers pursuing repositioning or stabilization plays, bridge loans present a window of opportunity. For some clients, a phased approach tied to specific project deliverables makes the most sense. A few weeks ago, Popular Bank closed a $10 Million bridge loan to help finalize renovations and lease-up of a 71-unit multifamily building in the Little Havana neighborhood of Miami. Working closely with the client, the bank defined each stage of the project, outlining what needed to be completed to activate the next funding found. Access to multi-phased short-term capital kept the project momentum going while mitigating the risks of larger financing loans. It was the right approach for the project and it is currently in phase two of funding their project.

Construction Lending: financing ground-up projects from blueprint to occupancy

For developers considering a construction loan, it is important to keep a few things top of mind. Unlike shorter-phased bridge loans, capacity in construction lending has tightened. Lenders and developers alike are looking at project feasibility before breaking ground. Regulatory pressures, higher costs of labor and materials, concentration limits, and sector-specific stress have made lenders far more selective, particularly for speculative builds.

And while Miami’s market fundamentals remain strong, they can vary by property type. Multifamily faces short-term pressure with more than 32,000 units under construction, about 24% of existing supply. Industrial vacancy has risen to 6.2% following record deliveries. Retail continues to perform well with sub-4% vacancy and limited new inventory.

For condominium developers, lender expectations have increased as well, often requiring significant pre-sale levels before a construction loan closes. These higher thresholds help ensure projects demonstrate true market demand in a segment where sales velocity varies widely by location and product type. Popular Bank recently helped finance a ground-up construction of a 312-unit multifamily located in the Naranja neighborhood of Miami-Dade with a $32.4 Million loan.

Miami remains one of the most dynamic commercial real estate markets in the nation, with tens of thousands of jobs added in the past two years alone. The opportunity is here and lenders like Popular Bank remain eager to deploy capital for well-positioned projects that make our city vibrant and enjoyable for everyone.

How Artificial Intelligence Is Transforming Infrastructure in Latin America and the Caribbean

wpdesigns — Wed, 04 Mar 2026 19:42:51 +0000

The critical infrastructure sectors in Latin America and the Caribbean (LAC) face growing challenges that threaten their efficiency and sustainability. Roads, power grids, water systems and public transportation networks show signs of aging and obsolescence, increasing maintenance costs and reducing the quality of services.

Against this backdrop, the Inter-American Development Bank (IDB) is exploring how artificial intelligence (AI) can be applied to infrastructure. For example, in public transportation, route optimization algorithms are helping reduce travel times and congestion. In water and sanitation, predictive models make it possible to detect leaks and anticipate outages in distribution networks. In energy, AI is used to forecast demand and facilitate the integration of renewable energy at scale.

These advances and lessons are covered in the IDB’s publication“AI from the Ground Up: Challenges and Opportunities in the context of Latin America and the Caribbean”, which presents real-world cases, recommendations, and practical guidelines on how AI can become a key tool to strengthen the region’s critical infrastructure.

Challenges for Our Infrastructure

Infrastructure in the region faces challenges such as aging physical structures, accelerated urbanization, population growth, and the impact of climate events. The consequences include disruptions in essential services and rising costs of use, which lead to unequal access.

However, technology can help reverse these trends. IDB estimates suggest that a 15% reduction in infrastructure service costs through the efficient use of digital technologies could increase the GDP of Latin America and the Caribbean by 6% over the next 10 years.

How AI Can Make a Difference in Infrastructure

Although more than 40% of public agencies in transportation and energy in LAC lack a clear digital transformation strategy, any entity can implement AI-based projects. In critical infrastructure sectors, the implementation of machine learning models is already within reach for many governments and organizations.

Some concrete examples show this potential in the region across three areas:

Energy: AI systems predict consumption patterns and help balance supply and demand, facilitating the integration of intermittent renewable energies such as solar and wind.
Water and sanitation: Predictive models supported by smart sensors allow detection of invisible leaks and anticipation of pipe ruptures, reducing water losses and maintenance costs.
Transportation: Traffic optimization algorithms help reduce congestion and improve route efficiency in urban public transport.

Effective AI Adoption

The report offers the following recommendations to unlock AI’s potential in critical infrastructure sectors:

Adopt agile methodologies that include proof of concepts, prototypes, and minimum viable products. These tools make it possible to experiment with AI-based solutions before scaling them.
Establish organizational structures that drive AI adoption, ensuring that teams have the necessary technical skills.
Data quality determines the success of AI projects. Building high-quality data requires identifying sources, designing efficient data flows, and ensuring adequate architectures for storage and processing.
Evaluate infrastructure requirements from the outset, especially storage and computing capacities needed for AI models.
Ensure that AI models address specific and measurable problems, based on data quality, computing capacity, explainability, and performance.
Incorporate ethical principles from the design stage, addressing privacy, security, and transparency to build trust in solutions.

IDB Projects Latin America and Caribbean to Grow 2.1% in 2026, Amid Global Uncertainty and Persistent Challenges

wpdesigns — Wed, 04 Mar 2026 19:30:14 +0000

WASHINGTON — Latin American and Caribbean economies are projected to grow by an average of 2.1% in 2026, broadly in line with its long-run average, according to the Inter-American Development Bank’s (IDB) new macroeconomic report. The analysis underscores the resilience of the region’s economies and finds that accelerating inclusive growth will demand sound macroeconomic frameworks and bold structural reforms, alongside efforts to harness opportunities in technology and commodities, amid growing global risks.

The projection reflects a gradual slowdown compared to the region’s 2.2% growth in 2025.

According to “Resilience and Growth Prospects in a Shifting Global Economy,” labor markets in the region have sustained low unemployment, inflation has been largely contained, and investor confidence has improved, as reflected in historically low borrowing costs, with the median sovereign spread falling to 209 basis points at the end of 2025, down from 268 in 2019.

Despite these gains, growth remains insufficient to close income gaps, public-debt levels are high, and higher interest payments are placing increasing pressure on public finances and external accounts.

“Latin America and the Caribbean navigated global uncertainty with resilience, supported by fiscal and monetary frameworks that have helped contain inflation and sustain macroeconomic stability,” said Laura Alfaro Maykall, IDB chief economist and economic counselor. “Looking ahead, countries have to accelerate productivity-led growth, strengthen public finances, and seize new opportunities from digitalization, artificial intelligence, and the energy to raise living standards and build more resilient and inclusive economies.”

Opportunities in critical minerals

The region is uniquely positioned to turn rapid technological advances and global energy needs into engines of growth, the report underscores. Both trends rely heavily on critical minerals, which the region holds in abundance. A striking example is lithium; global demand is projected to rise between 470% and 800% by 2050. With roughly half of global lithium resources, about 35% of global copper reserves, and more than 20% of rare-earth reserves, the region is well positioned to become a strategic supplier in the value chains of the future.

The report cautions, however, that natural wealth does not guarantee lasting development. Capturing the opportunity in critical minerals will require stronger institutions, predictable rules, diverse and reliable energy, robust environmental governance, and disciplined fiscal frameworks.

Improvement in labor market conditions

Labor-market conditions improved markedly in 2025, with unemployment rates falling in most countries between June 2024 and June 2025, and joblessness nearing its lowest levels in recent years. While women’s participation in the labor force has surged, growth remains constrained by modest productivity gains and demographic shifts that are slowing the expansion of the working-age population.

As a result, sustaining growth will increasingly depend on productivity gains and upgrading skills. Expanding access to digital training and supporting workers’ transitions into higher-productivity occupations will be essential as labor markets evolve. The report highlights skills related to artificial intelligence as the fastest-growing in the region, with job postings referencing AI rising sharply by mid-2025, to 7% of total vacancies.

Fiscal policy is entering a challenging phase, requiring urgent strengthening of fundamentals. Public debt remains above pre-2020 benchmarks, interest payments are rising, and fiscal consolidation has weakened. Average public debt in the region stands at 59% of GDP, with projections ranging between 57% and 66% of GDP by 2028 under baseline and stress scenarios. Among policy actions, the report highlights the potential of digitalization to boost tax collection when paired with credible enforcement strategies.

While inflation has largely returned to target across much of the region, higher global interest rates, shifting expectations, and the growing use of digital and foreign-currency assets are reshaping the monetary-policy landscape. The report emphasizes the importance of reaching a neutral monetary stance — neither stimulating nor restraining economic activity — while developing flexible tools to absorb external shocks.

The report concludes that policies promoting stronger competition, improved skills formation, deeper regional integration, and the development of more sophisticated regional value chains can significantly boost productivity — and should remain at the center of Latin America and the Caribbean’s policy agendas.

About the IDB

The Inter-American Development Bank (IDB), a member of the IDB Group, is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the Bank works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise, and knowledge, it promotes growth and well-being in 26 countries. Visit our website: https://www.iadb.org/en.

Automation strategies and best practices in Accounts Payable

wpdesigns — Wed, 04 Mar 2026 18:08:10 +0000

Accounts payable (AP) has two key meanings. As an accounting term, it refers to the money a business owes its suppliers for goods or services received but not yet paid. Recorded as a short-term liability on the balance sheet, AP is central to a company’s financial operations and liquidity management.

As part of the office of the CFO, the AP function is tasked with managing these liabilities. It plays a strategic role in optimizing working capital, preserving vendor relationships and enabling efficient financial reporting.

Below, we walk through the accounts payable process, key performance metrics, job roles, best practices, and how AP automation is rapidly transforming the function.

What Is Accounts Payable? Meaning, Definition & Importance

As an accounting term, accounts payable (AP) refers to the cumulative amount a company owes to suppliers or service providers for goods or services purchased on credit. When referring to a company’s obligations or ability to pay, the term AP is often used interchangeably with terms like payables, bills payable or payability.

AP is recorded as a current liability on the balance sheet and reflects short-term obligations that are typically due within 30 to 90 days. Importantly, AP is not an expense account but a liability account, signifying the company’s responsibility to settle these dues.

Beyond the balance sheet, AP also refers to the department or function responsible for managing these liabilities. Typically part of the broader finance organization, AP is responsible for ensuring that all outstanding invoices are tracked, verified, approved, and paid accurately and on time.

Effective AP management ensures a balance between outgoing cash flow and operational needs. Businesses that delay payment beyond terms may damage relationships and face late fees, while those that pay accurately and on time preserve vendor trust, which can open the door to favorable terms or early-payment discounts. However, businesses that pay too quickly may miss the opportunity to hold cash longer for liquidity or interest. In short, accounts payable is a key lever in maintaining financial health.

Accounts Payable vs. Accounts Receivable

Accounts payable (AP) and accounts receivable (AR) represent opposite sides of a transaction:

AP involves money a company owes to external vendors, making it a liability.
AR represents money owed to the company by its customers and is classified as an asset.

For example, when Company A purchases equipment on credit from Company B, A records the transaction under AP while B records it under AR.

This distinction between AP and AR impacts cash flow management and overall financial planning. AP focuses on extending payments within agreed terms to conserve cash, while AR focuses on collecting payments quickly to bring cash in. In some small or mid-sized companies, the same staff may handle accounts payable and receivable, but the skill sets and goals differ.

Accounts Payable Process (Procure-to-Pay)

The AP process, often referred to as procure-to-pay, is a structured workflow that governs how a company purchases and pays for goods or services. The process begins with a purchase requisition, which leads to a formal purchase order (PO) being issued to a supplier. Upon receipt of goods or services, the supplier sends an invoice, which is reviewed and compared to the PO and delivery documentation in a three-way match.

Once approved, the invoice is entered into the accounting system by debiting an expense or asset account and crediting AP. The payable is scheduled for payment according to the supplier’s terms. After payment is made, AP is debited, and cash is credited. Finally, reconciliation and reporting ensure that all invoices are accounted for, and payments are properly tracked.

Recurring transactions, such as electricity bills and outstanding salary journal entries, are also processed through AP. Companies may use default purchase accounts in their enterprise resource planning (ERP) systems to categorize these transactions automatically.

AP Journal Entries & Examples

Recording AP transactions accurately is critical in double-entry accounting systems. When a company incurs payment, the accounting system credits AP and debits the relevant expense or asset account. For instance, if a business receives a $780 invoice for office supplies:

Debit: Office Supplies Expense $780
Credit: Accounts Payable $780

Once the invoice is paid:

Debit: Accounts Payable $780
Credit: Cash $780

This illustrates that AP is a credit, as it increases liability. When the company settles the obligation, AP is debited, reducing the balance, and cash is credited to reflect the outflow. Common terms such as bills payable, payable amount or sum of AP refer to the total short-term liabilities a company has at a given point. The purchase account is a default used in many systems to allocate invoice amounts based on vendor or expense type. Accounting teams must ensure the accuracy of these entries to maintain compliance and financial transparency.

Key AP Metrics: Turnover Ratio & Days Payable Outstanding (DPO)

Two essential metrics help evaluate the efficiency of a company’s AP process: the AP turnover ratio and days payable outstanding (DPO).

The AP turnover ratio is calculated as:

Accounts Payable Turnover = Net Credit Purchases ÷ Average Accounts Payable

This ratio measures how frequently a company pays off its AP during a period. A higher ratio suggests faster payment cycles, while a lower ratio may indicate delayed payments or strained liquidity. However, extremely high turnover may also suggest the company is not fully utilizing its available credit terms.

DPO shows the average number of days a company takes to pay suppliers:

DPO = (Average Accounts Payable ÷ Cost of Goods Sold) x 365

Monitoring DPO helps companies find the right balance between conserving cash and maintaining strong supplier relationships. To better understand how payment strategies and timing affect DPO and working capital, refer to the AFP Payments Guide to Making a Business Case for Real-Time Payments, underwritten by MUFG.

AP Roles, Careers & Skills

The AP function includes a few roles, each with unique responsibilities, as outlined in our example accounts payable job descriptions:

AP clerks are responsible for invoice data entry, verifying accuracy, coding expenses and scheduling and processing payments.
AP specialists process invoices, reconcile statements, ensure timely payments to vendors and maintain strong relationships with vendors and internal stakeholders.
AP managers oversee all AP transactions within the organization, supervise a team of AP professionals, ensure compliance with company policies and procedures, maintain strong relationships with vendors and internal stakeholders and drive process improvements.

To succeed in these roles, AP professionals need attention to detail, knowledge of accounting principles, proficiency in ERP systems and strong communication skills. Career advancement opportunities are growing as automation shifts AP from data entry toward analytical and strategic responsibilities. For professionals managing accounts payable and receivable, cross-functional expertise can enhance career mobility.

The median total annual compensation for AP professionals varies by job title, from $52,500 for AP clerks to $90,000 for AP managers. More detailed salary information for AP professionals can be found in the AFP Enterprise Payments Salary Guide, which draws from the annual AFP Compensation and Benefits Survey.

Best Practices & Internal Controls for AP

To manage AP effectively, organizations must implement strong internal controls and follow industry best practices. First, ensure segregation of duties: invoice approval, payment authorization and vendor setup should involve different team members. Apply the three-way match to verify invoice amounts, PO details and delivery receipts before payment.

Timely payments reduce late fees and may unlock early payment discounts such as 2/10 Net 30. Companies should monitor DPO to manage cash flow while maintaining good supplier relationships. Digital workflows reduce human error and accelerate invoice processing. For detailed AP strategies, read AFP’s article on overcoming check challenges for AP and AR and our guide to Making a Business Case for Real-Time Payments, underwritten by MUFG.

AP Automation & Technology Trends

Organizations are rapidly adopting AP automation to improve efficiency and accuracy. Technologies such as optical character recognition (OCR), intelligent data capture and workflow software now handle invoice routing, approvals and even payment execution. AP automation enables remote access, reduces processing time and provides real-time visibility into liabilities and cash needs.

Emerging tools include AI for anomaly detection, machine learning for invoice categorization and blockchain for secure, transparent payments. Supplier portals improve collaboration by allowing vendors to check payment status online. Sustainability goals also drive the adoption of paperless invoicing.

To explore technological advancements for AP further, read our guide to automating accounts payable and visit the AFP Treasury and Finance Marketplace to evaluate leading AP software providers.

Conclusion: Modernizing AP for Strategic Impact

Accounts payable is no longer simply a back-office task; it’s a strategic contributor to financial success. By managing payables effectively, companies can optimize cash flow, capture savings, reduce risk and enhance supplier relationships. Understanding the accounts payable process, implementing best practices, tracking performance and embracing automation are all vital steps in this transformation.

As AP teams move toward automation and real-time analytics, their work increasingly supports cross-functional goals in treasury, procurement and financial planning. To support your AP evolution, explore AFP’s comprehensive training materials and the AFP Treasury and Finance Marketplace for tools that can help modernize your payable operations.

Small Business Concerns About Retaining Talent Grow

wpdesigns — Wed, 04 Mar 2026 17:25:23 +0000

The latest MetLife & U.S. Chamber of Commerce Small Business Index shows that employers’ concerns about recruiting and retaining workers have been rising over the past year.

The survey also shows that inflation is stubbornly lingering as the top concern for small businesses, despite receding slightly from record highs.

This quarter, the Index shows that small businesses’ concern about their ability to retain employees (17%) and attract talent (14%) is rising. Roughly one in four (26%) small business owners select one of these “talent” items as their top concern.

Concerns Over Talent Rise

Concerns over attracting talent has risen eight percentage points compared to this time last year (was 6% in Q4 2024). Similarly, retaining employees has risen five percentage points over the same time period (was 12% in Q4 2024).

“This quarter’s Index makes it clear: attracting and retaining employees is a growing concern for today’s small businesses,” said Bradd Chignoli, executive vice president and head of Regional Business & Workforce Engagement at MetLife.

Notably, the percentage of small businesses that selected either retaining employees or attracting talent has risen from 16% in Q4 2024 to 26% this quarter. ^[1]

[1]In Q4 2024, this option was asked as “Lack of applicants for job openings”.

Lower levels of concern about talent also existed three years ago. In Q4 2022, 11% of small businesses considered employee retention a top concern and just 8% said attracting talent was a top concern.

Inflation Concerns Small Retailers Most

This quarter’s survey also shows that inflation remains the top concern among small business owners: 45% say it is the biggest challenge they face right now. However, concern has remained below the 50% threshold for a third consecutive quarter and is on par with Q2 2022 (44%).

“Inflation remains the top challenge, and workforce concerns are rising,” said Tom Sullivan, Senior Vice President of Small Business Policy at the U.S. Chamber of Commerce. “Yet, small businesses are showing resilience, even amid uncertainty exacerbated by the longest government shutdown in history, when this survey was in the field.”

But all sectors are not equal when it comes to inflation concerns. In fact, small retailers are the most worried about inflation with 53% saying it’s a top concern. Manufacturers are least concerned about inflation (38% said it was a top concern). In the middle: 46% in the services industry and 42% in professional services said inflation is their top concern.

Small businesses also report that inflation is impacting their holiday plans. Over half (58%) expect to raise prices, and 52% anticipate lower revenue due to inflation.

Minority-owned businesses (55%) and small businesses with 20-500 employees (53%) also express higher levels of concern over inflation. Smaller small businesses are less concerned about inflation: Both 44% of medium (5-19 employees) and the smallest small businesses (1-4 employees) cite inflation as a top concern.

Similarly, concerns about revenue saw a slight uptick this quarter from 26% to 30% and remain relatively high. Revenue concerns now sit at the second highest level since 2021, only beat by Q1 2025 (35%).