Strategic Management

James Lallande, a senior AP manager for government contractor Dyncorp International, received a mandate to improve the company's cash flow position. This was no easy task, since his AP department was provided no budget for automation upgrades. 

Dyncorp's accounts payable department needed to be able to process… Read More

Are You Missing Out on Millions?

Early payment discounts can mean big savings for your organization. A standard 2 percent 10 invoice discount (the buyer receives 2 percent off for paying within ten days) can result in an annual 20 to 36 percent cash return.

What this means is if you have a $100 invoice due in 30 or 45 days and pay $98 in ten days, youRead More

A recent Peloton study revealed that finance professionals spend 64 percent of their time collecting and validating data. Another fourth of their time is spent processing that data, with only the remaining 11 percent available for doing value-added analytical work. This is due to several factors, not the least of which is siloed processes… Read More

Following an investment in automation, it’s not unusual for companies to downsize their AP departments. Fewer people are needed for low value-add activities such as scanning and processing invoices. However, there’s an alternative to losing good people.

coins-currency-investment-insurance-128867Best practice organizations transition their people to higher-level tasks. Consider the following:

  • Exception processing: Most AP departments spend 80 percent of their time on 20 percent
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Accounts payable is traditionally seen as overhead, a department responsible for just processing invoices and paying bills. But it doesn’t have to be that way. Rather than settling for merely being an invoice-paying engine, AP can propel itself beyond the administrative realm and into a strategic one. A Different Way of Thinking Process does… Read More

Introduction to AP Analytics

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The accounts payable process holds the key to several types of data that can help your company with decision making for strategic sourcing. The data also indicates invoice stratification by dollars, payment types and can provide a window into an “at-risk supplier” situation. And of course, accounts payable can highlight process efficiencies and ways to improve working capital by focusing on cost-per-invoice and

Business process outsourcing, or BPO, can alleviate much of the back office data entry functions of an accounts payable department, but not all implementations are brilliantly successful. The third-party outsource partner tends to take the blame when things don’t go smoothly, but often, they aren’t the culprits—it’s the failure to train and engage them… Read More

By Pam Miller, APMD In many organizations, AP is a microcosm of the entire organization. It is a mini IT department, a mini compliance department, a mini tax department, a mini purchasing department, a mini vendor management department, a mini treasury/finance/accounting department, a mini internal control/audit department, and a mini HR department. The Mini… Read More

By Pam Miller, APMD People often create mnemonics as a means to help them remember things. For example, HOMES is a mnemonic that helps Americans remember the names of the Great Lakes (Huron, Ontario, Michigan, Erie, and Superior). The mnemonic acronym “SMART” represents a method many management consultants recommend that organizations and managers use… Read More

AP departments often find themselves having to comply with new laws and regulations—whether it’s a new VAT regime or a majorly tweaked IRS regulation. To tackle such regulatory challenges and to ensure full and accurate compliance, it pays for AP professionals to take the time to read through the laws for themselves to see… Read More

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