Your Balance Sheet Is Here

Feature Story

How Vendor Portals Lower A/P Costs

Take this "quiz" to see if you are a candidate

by John Hiatt, Editor of The Balance Sheet

Faced with relentless pressure to get more done with less -- and less-than-favorable economic conditions -- more and more accounts payable operations are exploring technology solutions that promise to cut costs and add value. Many businesses are taking a closer look at using online self-service vendor portals to save time and money.

With the help of Jim Arnold, president of APEX Analytix, and data from a recent "success story" shared by the head of shared services for a retail grocery giant, The Balance Sheet has assembled an informal true-or-false quiz to test your knowledge and help you decide if a vendor portal is right for your unique situation. (Don't worry. No one is keeping score; only you will know how well you qualify. Simply answer true or false for each statement.) Read more ...

Editorial Corner

Vendor portals … Handling prima donnas … Not-so-silent night

These days, more and more accounts payable operations are exploring technology solutions that promise to cut costs and add value. Many have found that online 24/7 vendor portals are a quick win. This issue's feature story offers a creative "quiz" that helps you decide if a portal fits your situation.

Speaking of performance, in our last issue, a reader asked how to handle a star employee with a prima donna attitude toward the rest of the staff. See what readers have to say. Their ideas range from having a heart-to-heart talk to "kick him to the curb."

In this issue, a reader faces a different problem. A manager wants to know what kind of "damage control" will repair an embarrassing holiday party confrontation with his boss. Please share your thoughts and best practices. You could win a 256 MB MP3 player. And congratulations to Carolyn Skinner, AP Manager at PETCO Animal Supplies, Inc., for being this quarter's winner!

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Inside APEX Analytix

Join APEX Analytix at these events in 2009

NAPP 2009 National Conference, February 8-11, New Orleans

IQPC Shared Services Summit 2009 (UK), February 9-11, London

IQPC Procure-to-Pay Conference, February 23-25, Miami

IQPC Shared Services Week, March 22-27, Orlando

IAPP 19th Annual Forum, April 19-23, Orlando

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Publications

CFO

Internal Auditor

Accounting Technology

eWeek

Associations

IAPP - International Accounts Payable Professionals

FMI - Food Marketing Institute

NAPP - National Association of Purchasing and Payables

IQPC - International Quality and Productivity Center

RCC - Retail Compliance Council

VCF - Vendor Compliance Federation

IOMA - Institute of Management and Administration

ACFE - Association of Certified Fraud Examiners

FEI - Financial Executives International

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◦ Accounts Payable Best Practices

◦ Retail Recovery Audit Best Practices

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Complimentary White Paper

Time for a Reality Check

Will Your ERP Platform Prevent Duplicate Payments and Fraud?

Learn seven important reality checks about how your ERP system protects your Accounts Payable processes.

One company discovered its ERP platform missed $8 million in duplicate payments. This helpful white paper shows problem areas to investigate.

Download this complimentary white paper.

What's Your Best Advice?

Previous Issue's Dilemma:

My best analyst has lost his luster

Our top analyst has great skills. But his conduct leaves a lot to be desired. He's notorious for his prima donna attitude, and he refuses to do the administrative part of his job because he thinks it is "trivial." Needless to say, no one in the department likes him. Should I let him go, despite his high-level skills? Or is there some way I can make him a star in every area of his job?

-- Michael T., Director, Internal Audit

Read what others had to say.

This Issue's Dilemma:

A not-so-silent night -- How do I take it back?

I am one of the managers at a large, A/P shared services center in the Midwest. At this year's holiday party, my spouse cornered my boss and complained to him about my "long hours and low pay." I didn't find out about this little encounter until we got home. I'm furious with my spouse, but with time, we'll work it out. My boss is another matter.

Do I hope he had "one too many," and won't remember what happened? Or do I make a point of speaking to him about this conversation? If so, what do I say?

-- Embarrassed (company withheld)

Can You Help? Share your experience. You could win a 256 MB MP3 player.

Your Personal Balance Sheet : Do more in less time

Do You Let Black & White Thinking Hold You Back?
Step One: Banish the words "always" and "never"
by Mark Sichel - The Sideroad

Problem Solving: Ask "Why?" Five Times
Questioning technique digs for the real issues
from MindTools

Create the Change : Effective processes for staff management

It's Time to Step Up to the Plate
The best leaders thrive on uncertainty
by Dr. Randall P. White - American Executive

10 Ways to Design a Better Corporate Culture
Lessons from the best and brightest
by James Heskett, W. Earl Sasser and Joe Wheeler - HBS Working Knowledge

The Numbers Game : Accounting and people management

Identity Theft Risks -- and Costs -- Skyrocket
Data breaches cost companies $6.3 million on average
by Marilyn Prosch - Journal of Accountancy

Stand by for Stepped-up Audits and New VAT Rules
Revenue-hungry auditors will be knockin' at your door
by Robert Rosenberg - Treasury & Risk

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