Metric of the Month — Communicating Change
IOFM recently surveyed AP practitioners to discover whether they’re informed about process changes — why they’re being made and how they will affect their operations. More that two-thirds said yes, they were advised, but nearly a fourth said this information wasn’t shared.
Selecting a Vendor
If you’re in the process of evaluating automation vendors, how do you know which one to choose? It’s too important a decision to make without careful analysis. IOFM’s vendor ranking tool can help you find the right fit.
You’ll often hear us recommend you flowchart your processes to get a real understanding of where the bottlenecks and disconnects happen. However, if you’re not familiar with flowcharting, this article can help you get started.
Auditing Your Processes
It’s a good idea to know where you stand with internal controls, but does your organization have a formal process it conducts regularly? If you need a place to start, this self-assessment questionnaire lays out what you should be monitoring.