AP department Benchmarks and analysis 2007: 12 Ways to Combat the Escalating Rate of Check Fraud;
New Federal Rule Change Triggers Need for AP Document Policy;
AP Pros and Consultants Say Automate—or Perish;
Company Achieves 80% Paperless Invoices—With No Hefty Technology;
Imaging and workflow in ap: How AP Pros Made a Rock-Solid Case for New Imaging and Workflow Automation Technology;
MAP Calendar;
News Briefs; 8
How to KO a Common Payment Processing Bottleneck;
Accounts Payable Managers’ Forum Close Snippit | Read Article
Despite a tighter corporate internal control environment, check fraud in AP is increasing. Four in 10 (39%) of AP professionals we recently polled say they have had an indication or actual occurrence of check fraud in the recent past. The results of this poll form the basis of our report, AP Department Benchmarks & Analysis 2007, which analyzed responses from almost 500 AP departments. Close Snippit | Read Article
Newly enacted federal rules concerning electronic records make it more important than ever to follow a document management policy. As AP departments transition from paper to electronic records, you as AP manager need to make sure that your department’s policies are sound—and followed to the letter.v Close Snippit | Read Article
At our recent 5th Annual AP Conference and Expo, MAP caught up with several AP professionals and consultants, and we asked them this question: What do you see as the major trends in AP and what does the future hold? From their remarks, one thing was very clear—and startling: AP departments must evolve from a transactional orientation to providing more value-added services. Otherwise, they will vanish. Close Snippit | Read Article
Many AP departments think they need to spend an arm and a leg on new technology—imaging, workflow, electronic invoicing—to rid themselves of paper invoices. Wrong! You may be able to eliminate the bulk of incoming invoices by using a low-tech solution: Evaluated Receipt Settlement (ERS).
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Traditionally, AP has not been high on the priority list for receiving funds to invest in new technology projects. That’s changing somewhat, as the top brass realizes that significant savings can be triggered via AP automation. But that doesn’t mean it’s now a walk in the park. Close Snippit | Read Article
Lack of T&E policy compliance and visibility into T&E spending are two of the biggest challenges facing corporations looking to cut costs, according to a recent study by technology research company Aberdeen Group and sponsored by Concur Technologies, ExpensAble, Gelco Expense Management, and Visa Commercial. Of the 290 procurement, finance and travel executives who responded to the study, 72% said they were trying to cut costs. To do this, 39% of those surveyed said they would communicate a corporate travel policy, and 44% said they would adopt technology to improve visibility into T&E spend. The findings also show that 26% of respondents plan on adopting an end-to-end travel booking and expense reporting solution within the next two years.
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Lauren Broskow, AP Manager at La Petite Academy, had a master vendor file with thousands of unnecessary records. After much work, these records were eliminated. The next problem was keeping the file clean.
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One of the frequent missing pieces in the three-way match process is the receiving record, or goods receipt. However, it’s not easy to induce the receiving department to do their jobs. Fortunately, there’s one technique you can use to eliminate this bottleneck.v Close Snippit | Read Article
2009
