January 9, 2019
If you had it to do over again, would you still hire the people you have working in Accounts Payable? If not, why did you hire them in the first place? The answer may not lie in the selection process but perhaps in the job posting. Ask yourself this. Did your job posting accurately represent… Read More »
October 5, 2018
Did you know that the week of October 8 – 12 of 2018 is Accounts Payable Appreciation Week? What are you going to do for your AP team to show your gratitude? Bringing in muffins or treating the team to lunch is nice but think big. After all, the processing of Accounts Payable tasks can… Read More »
August 14, 2018
Let’s assume you have implemented an AP Workflow tool The Go Live went well. Some issues were identified during the Stabilization Period and were promptly corrected. Users have become comfortable with the system and all seems to be working as expected. That is great news but are you sure that is the case? For example,… Read More »
May 22, 2018
Are the Accounts Payable Operations measuring their performance? If not, how can progress toward goals be measured? How can issues be identified before getting calls from Vendors? Or worse, Management and Customers? Key Performance Indicators (KPIs) for Accounts Payable can cover everything from the productivity of each AP team member to whether invoices are paid… Read More »
April 27, 2018
Plans are in place to increase sales. It is anticipated that, at the very least, there will be higher volumes of Purchase Orders created, more and different Vendors to manage and an increase in the number of invoices to be processed. Does Accounts Payable have the resources to manage a larger quantity of invoices, vendors… Read More »
February 13, 2018
It is month end. Invoices for the current period are still being received and need to be processed into the ERP for the close. Do you process them through the AP Workflow System or post them directly into the ERP? Most Accounts Payable organizations would most likely post them directly into the ERP system but… Read More »
January 11, 2018
What is a Purchase Price Variance (PPV)? It is the difference between a unit price billed on an invoice and the unit price referenced on the related Purchase Order. In some cases, a PPV could be the result of rounding. Especially if unit prices include more than 2 decimal places. PPV can also be the… Read More »
November 14, 2017
In Accounts Payable, First Pass Yield can be the percentage of 3-way match Purchase Order invoices successfully processed on the first try compared to the total number of 3-way match PO invoices Accounts Payable attempts to process. What is your percentage of First Pass Yield? What are some of the reasons why 3-way match PO… Read More »
August 25, 2017
Senior management has agreed the company should implement an Accounts Payable Automation/Workflow system. The key stakeholders have selected a project team and they are considering the products and providers available. Excitement is in the air. Automating the processes will save the Accounts Payable team a great deal of effort, will improve compliance to company business… Read More »
August 8, 2017
An invoice is received from a vendor for goods or services supplied. The invoice total also includes freight and taxes. How does your Accounts Payable team address these costs? This can be one of the most significant obstacles when implementing an Accounts Payable Workflow tool. Although the provider of an automated AP Workflow tool can… Read More »
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