A/P Metrics Pay Off

Feature Story

Using Metrics to Add Value in Accounts Payable

New real-time approach boosts productivity, visibility

by Jim Arnold, President, and Joe Collins, Director of Technology Solutions, APEX Analytix

Financial shared services and accounts payable are often seen as cost centers rather than groups that can provide value to the company. Performance metrics, and a graphical approach to presenting them, can: Read more ...

Editorial Corner

A/P metrics that add value ... Master file updates ... Managing staff

Each issue of The Balance Sheet directly addresses real-world concerns of A/P, shared services and audit recovery professionals. In this issue's feature story, we take a close look at performance metrics that demonstrate the real value of A/P to top management. Experts show how more companies are turning to real-time, automated approaches that improve visibility, timeliness, relevance and accuracy.

Speaking of performance, in our last issue a reader asked, "How can I motivate my staff to be more diligent in reviewing and updating our Vendor Master File?" Readers share ideas ranging from performance bonuses to outsourcing quarterly file cleanup.

In this issue, "Spineless in Seattle" asks how to handle employees who bend or break the rules. Please share your thoughts and best practices. You could win a 256 MB MP3 player. And congratulations to Nancy Sampson of Hoffmann-La Roche for being this quarter's winner!

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Inside APEX Analytix

APEX Analytix Will Introduce Benchmark of Accounts Payable Best Practices in Europe

APEX Analytix Expands European Customer Base

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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

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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.

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What's Your Best Advice?

Previous Issue's Dilemma:

How do I motivate staff to update the vendor master file?

When it comes to reviewing and updating our vendor master file, how can I motivate my staff to be more diligent? Other, higher priority work always needs to get out the door, and without an up-to-date master file, I worry we are at greater risk than we should be. Do you recommend I get tough with them, arrange a special File Maintenance Day or just put one person in charge?

-- Accounts Payable Manager, Chicago

Read what others had to say.

This Issue's Dilemma:

Anyone have a backbone to spare?

As with any business, we have certain rules for our employees to follow. Some people play by them; others bend or break them. As "the boss," I admit I'm not as tough as I should be on getting compliance from everyone. I view some rules or policies as more important than others. Do I pick my battles or get tough on all violations? I'm afraid I'll lose some good people if I'm too tough. What's the best way to get everyone to comply? -- Spineless in Seattle

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

Your Personal Balance Sheet : Do more in less time

(Yawn) Boredom Can Be Good For You

Hint: It's virtually essential to creativity

by Adrian - Lifehack

Seven Signs of Poor Productivity

You can get more done every day -- here's how

by Robert Half - Career Builder

Create the Change : Effective processes for staff management

The Secret to Higher Productivity, Lower Turnover

Hint: Work like it's Saturday

by Jill Rose - American Executive

Five Ways to Turn Around Negative Employees

Start by being a positive leader

by Andrew Rondeau - Changing Minds

The Numbers Game : Accounting and people management

Auditing: Faster and Better Evidence Gathering

Best practices that improve confirmation response rates

by Donald K. McConnell Jr. and Charles H. Schweiger - Journal of Accountancy

Firms Hold onto Cash in a Sputtering Economy

The pressure is on to increase liquidity

by Vincent Ryan - CFO Magazine

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