TAPN's deep, comprehensive resources for executives and managers who oversee accounts payable give you point-and-click access to an exclusive accounts payable knowledge-base to help:
Keep current with AP methods and technologies
Maintain vital internal controls
Avoid compliance-related penalties
Assure current policies
Get answers to urgent questions
Focus areas include best practices for every AP function; AP metrics and benchmarking data; tax and regulatory compliance; solutions to real world problems; AP automation case studies; member Q&A networking forums, calculators, and more than 300 downloadable, customizable AP policies, flowcharts, templates and internal control checklists.
TAPN’s highly regarded training and certification programs provide AP education and credentialing for accounts payable managers and their staffs.
You Say You Want a Revolution? AP in the Organization Moving from a "paper-full" process to a paperless process in AP would certainly count as an AP revolution. Maybe your AP department has already declared a win—in which case, congratulations! As far as most AP departments go, however, the AP revolution is still far in the future. That doesn’t mean that AP is fated to continue with the status quo. There are many steps AP can take. Here are some resolutions for 2014 that can improve your day-to-day processes and make your department more efficient.
Five AP 'Revolutions' for 2014
Should Procurement Call AP's Shots? AP in the Organization A procure-to-pay process is most efficient when both ends share information. The procurement department uses accounts payable’s data to perform spend analysis, while AP uses procurement’s data to ensure vendors comply with contracts and purchase orders, and that buyers comply with purchasing policies. Some organizations have taken this coordination to the next level. Financial services firm ING's accounts payable department is actually part of the procurement department. In fact, the head of financial administration cannot imagine it any other way.
Should AP Be Part of Purchasing?
New T&E Benchmarks! Metrics and Benchmarking Half of accounts payable departments have seen increases in their travel and entertainment spending during the last two years. With T&E costs going up, it is more important than ever for organizations to manage their reimbursement processes effectively with strong policies and procedures. The following survey results examine expense reimbursement processing policies and practices. It updates metrics previously benchmarked in 2011, and includes several additional metrics. More than 500 organizations of all sizes participated in the survey, representing a wide range of industries. Based on the results, organizations are making strides in key areas, but have stalled in others.
Benchmarks: Travel & Entertainment Expense Reimbursement Practices 2013
Checks are on the Way Out Payment While checks continue to be the dominant business-to-business payment method, new survey data reveals they are on the verge of a significant tipping point. According to the 2013 Association for Financial Professionals Electronic Payments Survey, 50 percent of the average participant's B2B payments are made via check. This is down significantly from the 81 percent reported in 2004, and from the 57 reported in 2010. If this trend continues, the majority of B2B payments could be made via electronic methods – such as ACH and card – as early as 2014. In addition to revealing how organizations are making their payments, the survey highlights the challenges that prevent many companies from making the leap to electronic payments.
Will 2014 be the Death of Checks?
Shared Services Gets a New Name AP Organization and Shared Services Shared services centers have long been considered the natural endpoint for back-office optimization. They were born out of the realization that consolidating transaction processes into central facilities or corporate offices can lower costs and improve standardization. Shared services centers began maturing when organizations started bringing other functions into these locations, driving costs down further. However, as businesses focus more attention on their global presence, they are learning that shared services centers are not the end of a process improvement journey, but another stop along the way. The destination is global business services.
Global Business Services: The Evolution of Shared Services
Invoice Data Capture Now Learns from its Mistakes Imaging and Workflow The heart of accounts payable automation is the workflow engine. But, in order to work, it requires that invoices be in electronic format. So the critical first step in automating AP is to get the invoice data in a system-compatible electronic format. The best approach would be to avoid paper in the first place-most (though not all) invoices start out as digital information in a supplier's system. The problem is that each supplier has many customers, each customer has many vendors, and all of them have their own particular accounting or ERP system and data formats. Since it has not been easy for AP to persuade suppliers to change their process, the first thing an AP department needs to do, in the words of one Fortune 50 shared services director, is "Stop the paper at the door!"
Invoice Data Capture: Key to AP Automation
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Upcoming Events Conferences, Webinars & Seminars:
Sales & Use Tax Compliance in 2014: What You Need to Know Now
Webinar • Monday, March 17, 2014
Ensure compliance with the latest tax rules when collecting, paying and reporting tax. Attendees of this 60-minute webinar will benefit by discovering the latest regulations of sales & use tax to comply and avoid penalties.
Form 1099 Reporting of Legal Damages and Payments to Attorneys
Webinar • Thursday, March 20, 2014
Settlement payments for legal damages are always a challenge because your organization must identify what amounts are reportable, what amounts are excluded from reporting, and which claimants or attorneys you are required to report on a Form 1099. During this webinar, well-known Form 1099 compliance advisor Marianne Couch will clarify these serious issues for you to help you avoid costly errors.
The Accounts Payable and Purchase-to-Pay Leadership Conference 2014
May 19 – 21, 2014
This conference is a must-attend event where AP and P2P professionals will learn proven best practices, swap ideas with colleagues, get energized and return to your office with a list of innovative, productivity improvement and cost-saving tips you can implement right away!
TAPN is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org