July 2021: Management Tools and Tips

July 31, 2021

Share

 

Managing a team requires an entirely different skillset from the task-based abilities needed for handling payments, yet many managers are promoted from processing roles without having had opportunities to develop their people skills. This month, we offer some resources and pointers for improving your leadership toolkit.

Dealing with Workplace Conflict

Given the recent health, social and financial challenges many people have faced, it’s no wonder that there’s a lot of stress in the workplace. Yet managing that anxiety and the conflict it can create is a skill every good leader must have. Join IOFM Executive Editor Jess Scheer and AP leadership expert Nicole Caley for a free on-demand webinar, “Become a Better Leader: The Essentials of Conflict Management.”

Watch The Webinar

 

 

Keeping Your Team Motivated

A recent question to our IOFM Advisory Panel asked about employee incentives for exceptional performance, especially during the workplace challenges resulting from the pandemic. Are organizations providing them, and if so, what types of incentives are being given, what goals are they being awarded for and how often?

Get The Answer 

 

Make Your AP Team the Best It Can Be

Holding on to good talent can be a challenge. Download the white paper, “11 Ways to Successfully Manage Your AP Team” for tips to help raise the profile of your AP staff and enable your team to make a positive impact on your organization.

 

Download The White Paper

 

 

Which AR Metrics to Measure?

Continuous improvement requires you track metrics in order to progress. Yet with all the things you could measure, which ones should you start with? The IOFM Advisory Panel weighed in and generated a list of metrics in four main categories: business trends, workload, efficiency, and effectiveness. Read “AR Best Practices: What Should You Measure?” to find those most relevant to your operation.

Read More

 

 

Metric of the Month: Cost per Invoice

Something we’ve been talking a lot about lately is “type of decision-making.” This simply refers to how decisions are made about processing AP work. Do the individual processors decide how to prioritize and organize their work (desk-level)? Are those decisions made by department management (department-level)? Or are they determined based on end-to-end P2P considerations (P2P-level)? And why does that matter? This graph answers that question.

Want to know more? Get IOFM’s first 2021 Benchmarking Report, “Maximizing Your Automation ROI.”

Source: IOFM 2021 Benchmarking Report, “Maximizing Your Automation ROI”

Subscribe to our Monthly Insider

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500