BEST PRACTICES:
How to Avoid 8 Common Pitfalls of AP Offshoring
Some AP managers have successfully avoided offshoring. But if you must do it, here’s how to sidestep trouble when moving part of AP to a faraway land.
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AP Managers’ Forum:
How AP Can Cash In on ‘Treasury Bonds’ Close Snippit | Read Article
If you are using—or plan to use—imaging to automate invoice processing, make sure you consider OCR as part of the package. OCR—optical character recognition—extracts the data from the invoice to eliminate manual data entry. Close Snippit | Read Article
Virtually all world-class organizations have moved their AP operations into a shared-services environment, according to the Hackett Group. The benefits of centralizing AP are clear—and substantial. What’s more, according to our recent research, 92% of AP shared services pros we surveyed said the actual benefit met or exceeded their expectations. The trick is making the transition. Close Snippit | Read Article
The ability to reduce AP processing costs is the leading benefit of implementing a p-card program, according to the results of our latest survey. This benefit was cited the most by over 250 AP pros who responded to questions about their p-card policies and procedures, growth opportunities, and internal controls. Close Snippit | Read Article
Just hearing the term "offshoring" is enough to make many AP managers cringe. The thought of having to split off part of AP and send it to a faraway land is generally not a welcome concept. Some AP managers have successfully avoided offshoring. But in other cases, the move is justified. If you are faced with this prospect, here are the key pitfalls to avoid. Close Snippit | Read Article
8th ANNUAL ADVANCED AP INSTITUTE (held in conjunction with the RECAP 12th ANNUAL ENHANCING AP OPERATIONS CONFERENCE), March 3-5, 2008, Fort Lauderdale. Contact: IOMA Customer Service, 800-401-5937, ext. 2. Close Snippit | Read Article
Because there are more AP technology solutions now available for smaller AP departments, they are catching up with their larger counterparts. A third of AP pros we recently polled said that implementing a new automated procedure for some part of the AP process was one of the five most successful ideas they used over the past year. Close Snippit | Read Article
AP has many ongoing problems that have to be dealt with—from preventing check fraud to eliminating rush checks. Wouldn’t it be great to find an ally in the organization who wants the same thing as you do—to make the payment process as efficient and effective as possible? Close Snippit | Read Article
2008
