Managing Accounts Payable

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August 2004 Table of Contents [ toggle snippets ]

• MAP August 2004 (full PDF issue)
• How to Start or Improve an Electronic Payment Program in Your Department;
  New MAP Survey: Exclusive New Study Examines Who Works in AP & What They’re Paid;
  Rumors, Baubles, and Chocolates: New Ways to Deal with Rush Checks!?;
  AP Pro’s Problem Leads to Innovative Electronic Payment Solution;
  Accounts Payable Miscellany (August 2004);
  Accounts Payable Calendar (August 2004);
  Accounts Payable Managers’ Forum (August 2004)
  
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• How to Start or Improve an Electronic Payment Program in Your Department
• By now most regular readers of this newsletter are aware that electronic payments are the key to improved efficiency, lower costs, and many other benefits for everyone involved in the purchase-to-pay cycle. But without a roadmap, getting started isn’t always easy. For that matter, improving the program once one is under way isn’t a piece of cake either—unless someone who has been there and done it chooses to share his or her expertise. That’s exactly what happened at IOMA’s recent AP Issues Forum, where Alfa Laval’s Stephanie Martin spoke about her company’s success in moving to an electronic payment platform.
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• New MAP Survey: Exclusive New Study Examines Who Works in AP & What They’re Paid
• Those who devote their careers to accounts payable will discover that they can progress steadily and earn a reasonable salary. In most positions, a good percentage of the people occupying those slots earn a bonus. At the managerial level, over half those in these positions will receive a bonus. This article takes a comprehensive look at the compensation (both base salary and bonuses) for accounts payable positions, breaking the information down by title, gender, and industry. It also investigates the relationship between education and bonuses. The results just may surprise you.
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• Rumors, Baubles, and Chocolates: New Ways to Deal with Rush Checks!?
• It was break time at IOMA’s “Harnessing the Power of e” conference, and the editor was chatting with several AP managers when the conversation turned to—what else?—rush checks. The professionals involved in the discussion realized that in most organizations, rush checks are here to stay. Their goal is to minimize the number and find creative ways to accomplish this without completely antagonizing those with justifiable or even semilegitimate reasons for asking. Their solutions (baubles, chocolate, and rumors) to this age-old problem make their work life a little easier and help maintain sane relationships with those who find themselves in the unenviable position of needing a check as soon as possible.
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• AP Pro’s Problem Leads to Innovative Electronic Payment Solution
• Knowing the best way to handle a situation when your company does not have the ability to implement your suggestions can be frustrating. It is particularly annoying when the cause of the problem is that the company has made a big investment in a new accounting system and is not about to change it for years. This is the situation of one accounts payable professional, but he is not giving up without a battle. “We currently use an AP application that does not allow for multiple payment types,” he says. His firm has invested far too many resources to change.
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• Accounts Payable Miscellany (August 2004)
• 
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• Accounts Payable Calendar (August 2004)
• 
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• Accounts Payable Managers’ Forum (August 2004)
• Eliminating some of the calls to customer service. Automating AP work without spending a lot of money.
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