Process & Principles

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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

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Responding to basic supplier inquiries, such as payment status and answering suppliers’ calls and e-mails, can take as much as 24 percent of a staff member’s time, reports invoice.info.com in its

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The findings of a benchmarking survey conducted by Accounts Payable & Procure-to-Pay Network (AP & P2P) reveal that half of AP departments saw increases in their travel and entertainment (T&E)… Read More

For the past several years, the role of AP in many organizations has been changing from that of a back-office transactional department to one of a value-added analytical operation. Since all

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If you are not yet performing AP spend analysis at your organization—or are still testing the waters—it may be time to gain a better understanding of this untapped and valuable resource. “Since… Read More

Only 16.9 percent of respondents in a recent IOFM benchmarking survey indicate that AP goals are established solely by AP. Half of the remaining responses (41.6 percent) indicate that goals are set

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Organizations may differ regarding what is most important in achieving AP's strategic objectives, but the methods they use to determine their metrics and key performance indicators (KPIs) are

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The three-person AP department supporting the four main hospitals at Jones Lang Lasalle at Beaumont Health System in Royal Oak, MI was experiencing multiple problems with invoice processing and… Read More

The reporting package you select should offer the kind of capability and functionality that satisfies the needs of both financial and non-financial users and helps them find the answers they are

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