EXCLUSIVE RESEARCH: AP Pros Reveal How They Choose an Imaging Vendor to Automate Invoices

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Managing Accounts Payable

April 2008

Half of AP departments IOMA recently surveyed say they will be selecting an imaging and workflow system to automate the invoice process. The crucial decision to be made here is the selection of a solution provider. So we asked the other half of our survey population—who had already selected a provider—what criteria they found to be the most important in the selection process.

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April 2008 Table of Contents [ toggle snippets ]

MAP April 2008 (full PDF issue)
EXCLUSIVE RESEARCH: AP Pros Reveal How They Choose an Imaging Vendor to Automate Invoices;
T&E: Virtual Workforce Sparks New Urgency to Automate T&E;
TAX COMPLIANCE: P-Card Growth Triggers Sales & Use Tax Worries;
EMPLOYEE EXPENSES: Rule Makers Look to Ease Tax Treatment of Biz Cell Phones;
Congress is pushing to change the tough recordkeeping rules for personal use of employer-provided cell phones;
INDEPENDENT CONTRACTORS:IRS Official Discusses Key Factors to Weigh for Worker Classification;
The IRS and the states are on the warpath over 1099 workers who should be employees;
AP Calendar;
News Briefs;
AP Managers’Forum
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EXCLUSIVE RESEARCH: AP Pros Reveal How They Choose an Imaging Vendor to Automate Invoices
Half of AP departments IOMA recently surveyed say they will be selecting an imaging and workflow system to automate the invoice process. The crucial decision to be made here is the selection of a solution provider. So we asked the other half of our survey population—who had already selected a provider—what criteria they found to be the most important in the selection process.
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T&E: Virtual Workforce Sparks New Urgency to Automate T&E
Virtual workers can throw a huge monkey wrench into your efforts to administer employee reimbursements for travel and entertainment (T&E) expenses. That’s because reimbursing mobile workers is becoming complex. Plus, many of their expenses are off the radar, making it difficult to capture for reporting purposes. Here’s where T&E automation can be a big help.
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TAX COMPLIANCE: P-Card Growth Triggers Sales & Use Tax Worries
The volume of transactions on purchasing cards (p-cards) has become so large that many tax departments are worried about sales and use tax liabilities. With p-cards, it’s easy to miss accruing use tax on individual transactions that get lumped together on one statement. And the states are like sharks that sense blood in the water. They have been eyeing the growth of p-cards and the growing chance that organizations will fall out of compliance. This means back tax bills and penalties.
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Rule Makers Look to Ease Tax Treatment of Biz Cell Phones
The Treasury Department is interested in a Congressional proposal to update and liberalize the rules governing the taxability of cell phones and other mobile communication devices provided by employers, according to Treasury Secretary Henry Paulson.
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INDEPENDENT CONTRACTORS: IRS Official Discusses Key Factors to Weigh for Worker Classification
Determining whether a worker should be treated as an employee or as an independent contractor (1099 worker) is not always a simple decision, according to Herbert (Ley) Mills, senior stakeholder liaison with the Internal Revenue Service.
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Accounts Payable Calendar (April 2008)
IOMA AP TRAINING The IOMA AP Training Seminar: The Best Training Program Available for Accounts Payable Professionals
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News Briefs (April 2008)
CENTRALIZE AP, THEN AUTOMATE AP departments in North America spend almost $5.00 less to process a single invoice than their counterparts in the Europe, Middle East, and Africa (EMEA) region, according to a report from the Aberdeen Group. To close this gap, one thing EMEA AP operations need to do is to centralize AP before automating. More AP departments (58%) in North America are centralized than in the EMEA region (50%), says the report. "Although technology is key to reducing costs, enterprises in the EMEA region should first focus on centralizing the AP function. Once in place, they should look to an electronic payables system that will contribute to lower invoice-processing costs. However, it is only after a centrally managed function has been established that the value and benefits of automation will be realized," says the report, AP Transformation: Better, Faster, Cheaper.
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Coming in Future Issues of Managing Accounts Payable (April 2008)
How One AP Manager Uses Metrics Every Day to Continuously Improve Performance
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Accounts Payable Managers' Forum (April 2008)
HOW AP MANAGERS IMPROVE CHECK MAILING Problems: Once a check is printed and signed, it has to get in the hands of the payee. This is not as straightforward as it appears. You’ll always get someone who wants the check returned to them for personal delivery to the vendor. Then there are mailing issues. For instance, how long should the checks sit in the mailroom?
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