Strategic Management

Seven Ways AP Can Add Value to an Organization

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. Best practice organizations transition their people to higher-level tasks. Consider the following: Exception processing: Most AP departments spend… Read more »

Is It Time for an AP Makeover?

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 not... Read more »
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Developing Analytics for Your AP Team

Introduction to AP Analytics 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… Read more »

Secrets of Successful Business Process Outsourcing

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 coming... Read more »
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AP Is a ‘Mini Everything’ (Except the Mouse)

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 IT... Read more »
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Using ‘SMART’ Tactics to Meet Goals

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 to... Read more »
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How to Get Your Compliance Ducks in a Row When There’s a New Law

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 how... Read more »
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Cash Conservation Tips

While there are many opportunities to conserve cash within an organization, our question this month focuses on AP’s role in cash conservation. IOFM asked members of the APP2P Network: In what ways can AP departments assist with cash conservation and reduce the adverse impact on suppliers? Here are their responses: ‘Automate and Streamline Processes’ “Conservation... Read more »
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Two Important Management Skills to Master: Delegation and Empowerment

By Pam Miller, APMD Managers who have mastered the arts of delegation and empowerment are likely to find that their staffs outperform those of managers who have not done so. Delegation is an important management skill. It frees up a manager’s time so it can be better used for other, higher-level tasks. For staffers, it... Read more »
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Don’t Let An Unproductive Employee Be Your Undoing

At one time or another, we all must deal with team members who are unproductive or who just can’t seem to perform at the expected level. This month, Cindy Hussey, AP Manager at Binder & Binder (Hauppauge, NY) asks: How do other AP professionals address inefficient, unproductive staff and still remain productive? What tools do... Read more »
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