Process & Principles

The 4 Most Important Benchmarks for Becoming a Best-in-Class Accounts Payable Organization

Best-in-class Accounts Payable organizations have it all figured out.

Compared to their peers, the Accounts Payable processes at best-in-class organizations:

• Cost less
• Are more accurate
•

Trends that are Transforming AP into a Strategic Powerhouse

On-demand Webinar | Free

Join us for an informative webinar on the latest trends that are helping to streamline the AP process, beyond making invoice workflows more efficient. Imagine having an

Four Practical Steps to Measuring AP Performance

Jess Scheer

Continuing Education Manager, IOFM

Given a list of more than 20 options from which to select their biggest business needs, the only choices that garnered more than 25 percent of… Read More

Determining Your Cost to Process an Invoice: What Should Be Included in the Calculation?

Determining the cost to produce an invoice (CPI) can present challenges for AP & P2P professionals who are seeking to benchmark. What items and functions get counted in the calculations? And does it… Read More

Forms: Effective Tools for Communication and Documentation

Accounts payable must interact with a variety of customers from within the larger organization as well as from outside the organization. Few, if any, of these customers understand exactly what AP

Check Security: Thresholds and Signing Practices

Although research shows that the number of organizations that use check payments is decreasing, many organizations are still relying heavily on these paper remittances. With check fraud still the… Read More

Measure to Manage: How Cameron’s AP Department Uses Metrics to Achieve Best-in-Class Performance

Metrics are vital for effective performance management in accounts payable. But determining which metrics to use and how often to track them can be overwhelming. To uncover a successful approach for

Noncompliant Internal Customers? Metrics Are Worth a Thousand Words

It is tough enough for AP to stay on top of the problems created by vendors who send incorrect invoices, send too many copies of the same invoice, or send invoices to recipients all over the

Take Data to the Next Level for Better Decision-Making

Controllers are in the ideal position to provide the financial data that departmental managers need to make smart business decisions. But, as many controllers are discovering, simply disseminating

Eleven Quick Tips for Reducing Costs by Reducing Inventory Balances

By Wayne H. Smith Storing inventory creates expenses for insurance, staff, space, utilities, and financing. The best way to reduce the cost is to reduce your inventory balances. Where to Start Here