Managing Accounts Payable

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April, 2002 Table of Contents [ toggle snippets ]

• How the A/P Manager at Johnson & Johnson “e-Enized” Payables
• Accounts payable managers everywhere are searching for ways to improve departmental productivity and accuracy. Lately, the biggest productivity increases have come from electronic initiatives. One company that has had a lot of success with electronic initiatives is Johnson & Johnson. Judy L. Bicking, J&J’s shared services director, calls it “e-enizing your process.” Speaking at the NAPP conference, she shared the J&J game plan that resulted in huge productivity increases.
  
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• What A/P Pros Need to Know About XBRL GL
• Regular readers of this publication have been following the rapid acceptance of XML. While some may have been reading those articles with mild interest, it is now imperative that all accounts payable profession-als come on board. Why? Because Managing Accounts Payable believes that a huge number of companies will begin using XML in the next few years. This view is reinforced by a recent prediction from Zona Re-search forecasting that 40% of all companies will be using XML by the end of 2003. Of particular interest to accounts payable professionals are the Rapid e-invoice project and the introduction of XBRL GL.
  
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• How to Get Paper Out of Invoice Handling, Checks and POs
• Getting rid of the paper is top priority for many accounts payable departments. Recognizing that this is unlikely to ever happen completely in the near future, many accounts payable pros focus on the most efficient ways to handle the paper that does come through their departments. In a recent Managing Accounts Payable survey, over 500 accounts payable associates shared their secrets for effectively handling volumes of paper that flow through the department including:
  
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• 4 Expert Tips on How To Fight Check Fraud
• Most experts view positive pay, and its new sister, teller positive pay, among the best ways for corporations to fight check fraud. While these tools are vital in the check fraud battle, readers should not feel that once teller positive pay is implemented, they would be free and clear of any fraud concerns. Harris Bank’s Hamish Forrest provides the following in-depth commentary about the issue.
  
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• 3 Ways Electronic T&E Initiatives Can Increase Productivity
• T&E is an area that has benefited tremendously by the introduction of electronic initiatives. With progress comes change and sometimes this requires new procedures. Additionally, accounts payable professionals often see new products or processes that improve their operations, but getting management to go along is not as easy. Some of the affected T&E areas include:
  
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• How To Be an A/P Invoicing Survivor in an Electronic World
• The world, as accounts payable professionals know it today, is now being rocked at its very foundation. The driving force for that change is Internet invoicing, also known as electronic invoicing, e-invoices etc. But having your whole world affected doesn’t have to be negative says Cisco’s Linda Sawyer Sisko, if you are prepared. Speaking at an IOMA/IMI Managing Accounts Payable conference, she shared with the audience her prognosis for the future and some techniques that accounts payable professionals can use to get themselves and their departments ready for the revolution.
  
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• Accounts Payable Managers’ Forum 04/02
• Eliminating the paper from the T&E process. Getting the filing situation under control.
  
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