Process & Principles

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

T&E Submissions and Payments Increasingly Electronic

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

Time Spent on Transactions Versus Analysis

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

Spend Analysis Is within Your Reach

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

Work With Senior Management to Set and Achieve AP Goals

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

Setting, Tracking, and Improving Performance Metrics

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

Ramp Up Reporting by Using an Automated Reporting System

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

Temple University Benchmarks to Success

The Temple University Health System includes Temple University Hospital, Episcopal Campus, Jeanes Hospital, an ambulatory care center, and a network of more than 100 primary care physicians

Telecare Corporation Uses Benchmarking to Balance Workloads

Telecare Corp., headquartered in Alameda, Calif., provides services and support for individuals with serious mental illness. With 60 facilities in California, Texas, Nebraska, Oregon, and North