AP Now Webinar Series: Part 4 Presenter: Mary Schaeffer, AP Now & Tomorrow Fine-tuning the accounts payable function is something every organization should do on a regular basis. While it would be nice if we could set up the procedures and then use them for the next ten years, that is not practical if you wish to run a best practice operation. On the other hand, we can’t continuously change. The trick is to identify those changes we can make that will provide the biggest payback. The payback can be in efficiency, cost reduction or better regulatory compliance. Join us for an informative hour as Mary Schaeffer examines some of the changes that will provide your organization the biggest payback for the time and money it invests in them.

1. Accounts Payable Improvements that
Repay: Planning for the New Year
Mary S. Schaeffer
Accounts Payable Now &
Tomorrow

2. Agenda
O Introduction
O The Baker’s Dozen of Improvements
O Closing comments
(c) 2013 CRYSTALLUS, Inc. and Mary S. Schaeffer
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3. Introduction
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4. Philosophy
O Fine tuning
O Lower costs
O Fewer errors
O More efficient
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5. Approaches
O Big budgets
O few in this position
O Small allocations
O A possibility
O No budget
O Where most of us reside
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6. The Concept of Payback
O Lose on ROI
O how long until the
organization recoups its
investment
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7. The Baker’s Dozen:
Improvements that Repay
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8. Improvement #1: Intelligently
Reduce Paper Invoices
O two phases
O First push by vendors
O Second push by suppliers
not using e-invoicing
O encourage e-mailed
invoices
O centralize receipt
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9. Improvement #2: Reduce Unclaimed
Property Obligations
O Have to spend the money
O Payee or
O state
O Electronic payments
O Research on LinkedIn
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10. Improvement #3: Collect All Open
Vendor Credits
O Track all vendor credits
O Make sure vendors sending to correct
address
O Educate
O Staffers
O purchasing
O Statement audits
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11. Improvement #4: Reduce
Human Error
O Keying errors
O Consistency
O Standardized procedures
O Coding standards
O Training and re-training
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12. Improvement #5: Reduce the Number
of Second Invoices
O Pay on time
O Resolve discrepancies quickly
O Centralize receipt of invoices
O Identify vendors who both mail and e-mail
O Call/write
O ACT list
O Ongoing process
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13. Improvement #6: Eliminate Staff
Created Problems
O Be realistic
O One complaint – an outlier
O Call and pretend to be a vendor
O Are you happy with the responses???
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14. Improvement #7: Reduce the Number of
Discrepant Invoices
O Track
O Who, what, when, WHY
O Analyze
O Reengineer
O Retrain
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15. Improvement #8: Streamline Expense
Reimbursement Process
O Insist on ACH
O With payroll or separate
O Checks mailed home
O A distant second
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16. Improvement #9: Reduce T&E Spend
O 100% policy compliance
O Require second signature on all non-
compliance
O Report on all non-compliance
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17. Improvement #10: Right-size
Your Master Vendor File
O Right number
O No duplicates
O Coding standards
O Check for DBAs in a second time
O Name changes
O Check for multiple companies with same
TIN
O No inactive vendors
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18. Improvement #11: Minimize Number
of Paper Checks
O Simple Ways
O ACH
O P-cards
O What Else
O Use the T&E process
O Never pay from a statement
O Pay from a statement in very limited controlled
circumstances
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19. Improvement #12: Get the Most out of
Your Staff
O Their ideas and recommendations
O Don’t overlook the importance of
institutional history
O Regular training
O Invest in their learning
O Time
O Money
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20. What Else
O Fine tuned all you can
O Tweaked
O Innovated
O Re-engineered
O Squeezed every last process
improvement
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21. Improvement #13: Take Your Invoice
Processing to the Next Level
O Automate
O 3rd party services
O Affordable
O Can implement quickly
O Don’t require huge IT allocations
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22. Concluding Thoughts
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23. Conclusion
O Squeeze every last productivity
improvement out of your operations
O Periodic tweaks will help
O Not just a one-shot approach
O And don’t forget technology
O It will play a huge role in the AP
department of the future
O For organizations of ALL sizes
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24. Have you requested a product demo
from Anybill yet?
O What are you waiting for?
O Call 877 426 9245
O E-mail info@anybill.com
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25. Questions/Comments
Share your thoughts and insights with
Mary Schaeffer by writing her at
marys@ap-now.com
 Sign up for her free weekly ezine at
www.ap-now.com/ezinesignup.html
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26. About Mary Schaeffer
Editorial Director & Publisher
CRYSTALLUS, Inc. publisher Accounts Payable Now & Tomorrow
newsletter
• Creator of Institute of Financial Operations Accounts Payable
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Innovation Certificate program
Editor-at-Large CFO Publishing’s Learning Pro: AP Edition
Nationally recognized accounts payable expert and consultant
Frequent speaker at seminars, conferences and online events
Regular contributor to the AICPA’s Corporate Finance Insider
Writes a free weekly e-zine, e-AP News
Author 17 business books including the just-published 101 Best
Practices for Accounts Payable
M.B.A. Finance, NYU
B.S. Math, York College
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