March 2003 | Vol. 2003 No. 03

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Managing Accounts Payable

Managing Accounts Payable is the leading source of information for accounts payable professionals and those responsible for the function. Each monthly issue contains 5-7 articles, 6-10 short news clips, a manager's forum on the back page and calendar of upcoming seminars and conferences. The material comes from internal research, surveys, case studies, conference material and interviews.

Subscribers to the newsletter have the opportunity each year to participate in a benchmarking or operations survey. Participants receive the results for free. Topics covered in the newsletter include: invoice handling; check preparation, printing and filing; exception and Rush check processing; techniques for reducing duplicate payments; staff and career management; working with other departments, master vendor files; terms and discounts; T&E; VAT Reclaim, EDI; XML; technology; imaging p-cards; post audit firms; benchmarking; 1099s; check fraud; case studies; escheat or unclaimed property; and sales and use tax. Spot e-mail surveys are also conducted and reported on when issues such as the 9/11 tragedy occur.

The newsletter sponsors five accounts payable conferences each year. An annual buyers’ guide is included with a subscription.

March 2003 Table of Contents [ toggle snippets ]

Accounts Payable Managers’ Forum (0303)
1. Getting employees to use their corporate T&E card
2. Persuading vendors to sign up for an EFT program

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Incomplete Invoices? Sample Letter Gets Suppliers in Line
Don’t you love those vendors who send invoices with no identifying information as to who ordered
the goods or whether there was an associated purchase order? While a small percentage of these invoices
are fraudulent, most are from legitimate suppliers who simply have poor billing policies. These policies
translate into more work for the accounts payable departments that receive these poorly formatted invoices.
A growing number of companies are drawing a line in the sand by refusing to process invoices
lacking certain basic data.

Close Snippet | Read Article
Expanding Use of e-Billing Requires Paradigm Shift in A/P
Proponents of e-billing now come from companies of all sizes, and EDI is no longer the only way to
share invoices electronically. In the past, large companies and those that did business with them were the
main supporters of electronic billing, and the term “electronic billing” was synonymous with EDI. Data
from the credit profession itself reveals this seismic shift in attitudes and use through a recent IOMA
survey in which respondents talked about their use of electronic billing, their future plans for it, and any
problems they had encountered with it.

Close Snippet | Read Article
Five Ways to Slash Volume of Invoices Handled in Your A/P Department
One of the best ways to improve departmental productivity is to clear associates’ desks of their small-dollar
invoices overflow. The amount of effort needed to process these invoices is not much less than that
required on much larger invoices, but the return is much less. Accounts payable managers most adept at
attacking this problem rely on the following five approaches.

Close Snippet | Read Article
ESM: The Next Cost-Reduction Process of the Purchase-to-Pay Cycle
Get ready to hear a lot about a brand new concept—Enterprise Spend Management (ESM). It’s part
of the procure-to-pay cycle, and proponents of squeezing the last cent out of the process are finally realizing
that accounts payable plays a vital role in this process.

Close Snippet | Read Article
P-Cards Improve A/P Process at PETsMART, Rock-Tenn and Rouse
Initially designed to rid corporate America’s accounts payable departments of the burgeoning number
of small-dollar invoices, p-cards are now being used by innovative companies for a lot more. Speaking at
IOMA’s Accounts Payable Conference and Expo, three savvy professionals revealed the strategies being
used at their companies to streamline operations through expanded use of p-cards.

Close Snippet | Read Article
March 1, 2003 (Full PDF Issue)
In This Issue:

P-Cards Improve A/P Process at PETsMART, Rock-Tenn & Rouse.
ESM: The Next Cost-Reduction Process of the Purchase-to-Pay Cycle.
5 Ways to Slash Volume of Invoices Handled in Your A/P Department.
Expanding Use of e-Billing Requires Paradigm Shift in A/P.
How Companies Allocate Their P-Card Purchases to the Right G/L Account.
Incomplete Invoices? Sample Letter Gets Suppliers in Line.
Accounts Payable Miscellany.
Accounts Payable Calendar.
Accounts Payable Managers’ Forum.

Close Snippet | Read Article
Expanding Use of e-Billing Requires Paradigm Shift in A/P
Proponents of e-billing now come from companies of all sizes, and EDI is no longer the only way to share invoices electronically. In the past, large companies and those that did business with them were the main supporters of electronic billing, and the term “electronic billing” was synonymous with EDI. Data from the credit profession itself reveals this seismic shift in attitudes and use through a recent IOMA survey in which respondents talked about their use of electronic billing, their future plans for it, and any problems they had encountered with it.

Close Snippet | Read Article
Accounts Payable Managers’ Forum (03/03)
Getting employees to use their corporate T&E card. Persuading vendors to sign up for an EFT program.

Close Snippet | Read Article
Incomplete Invoices? Sample Letter Gets Suppliers in Line
Don’t you love those vendors who send invoices with no identifying information as to who ordered the goods or whether there was an associated purchase order? While a small percentage of these invoices are fraudulent, most are from legitimate suppliers who simply have poor billing policies. These policies translate into more work for the accounts payable departments that receive these poorly formatted invoices. A growing number of companies are drawing a line in the sand by refusing to process invoices lacking certain basic data.

Close Snippet | Read Article
5 Ways to Slash Volume of Invoices Handled in Your A/P Department
One of the best ways to improve departmental productivity is to clear associates’ desks of their small-dollar invoices overflow. The amount of effort needed to process these invoices is not much less than that required on much larger invoices, but the return is much less.

Close Snippet | Read Article
ESM: The Next Cost-Reduction Process of the Purchase-to-Pay Cycle
Get ready to hear a lot about a brand new concept—Enterprise Spend Management (ESM). It’s part of the procure-to-pay cycle, and proponents of squeezing the last cent out of the process are finally realizing that accounts payable plays a vital role in this process. Speaking at the National Association of Purchasing and Payables annual conference, TrinTime’s CEO, Kathy Marshall, explained to the group why ESM will become even more important to corporate America in the near future.

Close Snippet | Read Article
P-Cards Improve A/P Process at PETsMART, Rock-Tenn & Rouse
Initially designed to rid corporate America’s accounts payable departments of the burgeoning number of small-dollar invoices, p-cards are now being used by innovative companies for a lot more. Speaking at IOMA’s Accounts Payable Conference and Expo, three savvy professionals revealed the strategies being used at their companies to streamline operations through expanded use of p-cards.

Close Snippet | Read Article

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