Managing Accounts Payable

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August 2006 Table of Contents [ toggle snippets ]

• MAP August 2006 (full PDF issue)
• Power of e conference;
  AP Pros Reveal Tips & Benefits of Shifting to E-Invoicing;
  Do-It-Yourself Way to KO Duplicate Payment Woes;
  2 Studies Examine Regional Pay Swings for AP Management;
  New Aberdeen Research Points the Way to Better Spend Analysis;
  What Does the Word Copyright and © Symbol Mean?;
  News Briefs (August 2006);
  MAP Calendar(August 2006);
  Accounts Payable Managers’ Forum (August 2006)
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• Three AP Pros Reveal Tips & Benefits of Shifting to E-Invoicing
• Cutting-edge AP departments are moving their invoice automation efforts beyond imaging and EDI into the world of electronic invoicing. That’s because it eliminates many of the headaches associated with the traditional ways of automating the invoice process. What’s more, it requires no investment in hardware or software—and you can be up and running in no time.
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• Do-It-Yourself Way to KO Duplicate Payment Woes
• Paying invoices twice is just like throwing money into the garbage can. Even if the duplicate payments are discovered, AP must absorb the time, effort, and expense of recovering the money. In some cases, it’s cheaper to write off the duplicate payment than to try to get it back. So the idea is to nip the problem in the bud by eliminating or reducing the possibility of making duplicate payments in the first place.
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• 2 Studies Examine Regional Pay Swings for AP Management
• In real estate, the three most important factors determining value are “location, location, and location.” The same can be said about AP salaries—to some degree. Two new compensation surveys reveal regional pay swings for AP managers and supervisors. On an overall basis, the AP manager data compares closely with the results we recently published in our IOMA Accounts Payable Compensation Report. But there’s a significant difference in what we found as the average AP supervisor salary.
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• New Aberdeen Research Points the Way to Better Spend Analysis
• A key way AP can become a more strategic business partner is to conduct more analysis into the company’s spending. This analysis helps to cut costs, make better decisions, and knock out the competition. The trouble is that the typical company’s procure-to-pay process is so full of holes that effective spend analysis is simply not possible. Fortunately, new research reveals how companies can plug these holes and become best-in-class in terms of spend “visibility.”
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• What Does the Word ‘Copyright’ and the © Symbol Mean?
• Dear Reader/Subscriber: The last thing we want to do is limit the usefulness of Managing Accounts Payable for you or your company. However, since we have received a number of questions recently, following a precedent-setting copyright-infringement case, we should outline what is permissible for the copying and distributing of our newsletters.
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• News Briefs (August 2006)
• SNEAK PEEK AT OCR SURVEY RESULTS More than 400 AP departments have responded to the first significant survey ever done on scanning and Optical Character Recognition (OCR) use in AP. MAP co-sponsored the survey with Datacap and Fujitsu, and the results are being compiled. Preliminary analysis of the survey results indicates a widespread awareness of the benefits of imaging, OCR, and workflow in AP, but also reveals a gap in many organizations between AP and upper…
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• T&E System Helps Abbott Labs Increase Control & Compliance
• Between Sarbanes-Oxley and other regulations, an automated system to handle employee expense reports is a must. Such a system can effectively control fraud and help comply with other regulatory crackdowns that are heating up.
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