SPX Uses Low-Cost, Low-Tech Strategies To Cut 6,000 A/P Staff Hours

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Managing Accounts Payable

June, 2002

Most accounts payable professionals would love to improve their department’s productivity but often cannot get the necessary funding needed to purchase some of the more expensive high-tech applications on the market today.

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June, 2002 Table of Contents [ toggle snippets ]

SPX Uses Low-Cost, Low-Tech Strategies To Cut 6,000 A/P Staff Hours
Most accounts payable professionals would love to improve their department’s productivity but often cannot get the necessary funding needed to purchase some of the more expensive high-tech applications on the market today.

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A/P Staff Finds New Goals and Mobility In Turner’s Shared Service Center
Whenever accounts payable professionals hear that their company is considering a shared service center, they start to get concerned. But this does not have to be the case. In fact, working in a shared service environment may provide the perfect opportunity for an accounts payable professional to learn about other fields, like payroll and treasury. In the case of Turner Broadcasting, an AOL- Time Warner Company, that’s exactly what happened.

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How Schwab’s A/P Department Is Harnessing the Power of the Internet
We’ve all heard the expression, “don’t work harder, work smarter.” Companies everywhere are starting to implement that approach by taking advantage of the Internet to control areas like invoice handling, T&E, and procurement. Speaking at Recap’s Enhancing Accounts Payable conference, Charles Schwab’s Sandy Campos explained how her company harnessed the power of the Web to achieve these goals.

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A/P Dept. Management: Take This Quiz to See How Your Actions Compare to the Pros
Most issues in accounts payable rarely have only one correct answer. Thus, accounts payable professionals often must use their own judgment when deciding how to address a difficult situation. Managing
Accounts Payable recently constructed seven situations that most accounts payable managers are likely to run into several times throughout their career.

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Accounts Payable Managers Forum (June 2002)
Improving DPO: Like many other companies, SPX Corporation was concerned about its DPO, the figures that indicate how it is paying its vendors.

Keeping morale up in accounts payable: In many companies, information is rarely communicated down and even less frequently
communicated up.

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17 Tested Ways You Can Use to Improve Your A/P Department’s Productivity
Accounts payable professionals are great at finding innovative ways to improve the efficiency of their staffs in handling both the mundane and the high-tech. In a recent subscriber survey, respondents shared their success stories, not necessarily with the big reengineering initiatives but in the small everyday tasks affecting some of their more high level responsibilities including travel and entertainment, pcards, and benchmarking. Here are some of the changes a few of the respondents made to their operations.

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