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Invoice Matching
Accounts payable departments can have the best-designed processes in the world, but without ongoing process management, AP cannot function at optimum performance levels. The consequences can be… Read More
These comments were compiled from an online discussion conducted by IOFM with the Advisory Panel on April 8, 2020.
Lynn Tate, APM, Accounts Payable and Expense Report Analyst, Urban Science… Read More
There are at least seven methods for sorting incoming invoices, which leads to the question: What is the most effective process for my AP operation? The short answer is, an organization's sorting… Read More
Following an investment in automation, it’s not unusual for companies to downsize their AP departments. Fewer people are needed for low value-add activities such as scanning and processing… Read More
In a perfect world, all invoices would arrive electronically into an Accounts Payable department, and be processed and posted straight-through, without human operator intervention. Unfortunately,
Today’s digital economy makes it easier than ever for businesses to buy and sell across the globe. As a result, more businesses must support the value-added tax (VAT), goods and services tax (GST),
… Read MoreThe stagnant economy has made businesses desperate for ways to improve profit margins and net income. One way that businesses can achieve both of these objectives is to automate invoice processing
… Read MoreBy Pam Miller, APMD
No matter how hard AP tries, duplicate invoices are a scourge that will not vanish. However, although we may not be able to eliminate them entirely, there are a number of steps… Read More
This template provides an example of an AP Invoice Processing Policy. Microsoft Word
… Read MoreThis template provides an example of an AP Nonpurchase Order Policy. Note that not using a PO is not a best practice and should be done only in specific circumstances.
Microsoft Word
… Read MoreWhat are you waiting for?
