“We will open the book. Its pages are blank. We are going to put words on them ourselves. The book is called Opportunity and its first chapter is New Year’s Day.” — Edith Lovejoy Pierce
As one year ends and a new one begins, it’s a good time to highlight some of the many things we have accomplished together at IAPP, and to consider what the new year holds. But first let me express my deep gratitude to our members and partners for your continued dedication to our mission. Your commitment, guidance, and unwavering support are the foundation of our association!
2009 Highlights:
1) The first chapter meeting for IAPP-UK was held in Central London and the planning committee was formed for the 2010 IAPP-UK Forum. The new UK chapter is vibrant, committed to the profession, and looking to grow the perceived value of AP professionals throughout the United Kingdom.
2) To further expand our member benefits and recognize the evolving world of financial shared services, we launched International Accounts Receivable Professionals (IARP), and the AR Matters publication. Both are free to existing IAPP members.
3) AP Matters was recognized in three different categories by the Florida Magazine Association’s Charlie Awards for feature articles, cover design, and in-depth reporting. In addition, the content of AP Matters has been greatly expanded and is now available online to better serve your needs.
4) The IAPP now has one of the largest online resource centers with more than 1,200 documents, white papers, templates, surveys, and more, thanks to the generosity of our members’ submissions.
5) Several new custom research reports have been prepared and delivered by IAPP, including this issue’s technology benchmarking survey and others in document management and overall AP metrics.
6) IAPP increased its focus on advocacy, delivering the profession’s only set of professional standards and code of ethics; enhancing professionalism with the launch of the AP alliance program, which offers partners the opportunity to turn up the heat on advocacy within their industry segments; and providing advanced volunteer opportunities through IAPP’s Call for Volunteers program.
7) Educational offerings have been broadened to include additional e-learning platform opportunities in light of economic conditions and organizational travel budget constraints. IAPP has added a fee-based webinar program, e-seminars, and an on-site training program that delivers customized training to your door.
2010 Wish List:
1) The 2010 IAPP Annual Forum will be the largest conference in North America for AP, AR, and automation professionals. Titled Fusion 2010, this year’s conference will feature more than 150 workshops, outstanding keynote speakers, live entertainment by Jack Ingram and The B-Street
Band, and much, much more!
2) AP Matters will be expanding to include sections from AR Matters and TAWPI’s Today publication on all things automation for AP and AR.
3) Our education department will be launching a whole new series of online self-study courses for tax and regulation, best practices, CAPP and CAPA prep and more.
4) IARP is developing the only professional designation dedicated to accounts receivable. Look for additional information on the launch of the new AR certification program in 2010.
5) A brand-new Operational Review Program evaluates your AP practices against IAPP standards and recognized best practices to assess the efficiency and effectiveness of the AP function.
6) New research studies are planned on topics such as p-cards, e-invoicing, travel and entertainment, and more!
I wish you all a safe and happy new year, and encourage you to drop me a line and let us know how we are doing. Your input is valuable and appreciated.
Best regards,
Thomas M. Bohn, CAE
Tuesday, February 2, 2010
Friday, October 23, 2009
The New Sacramento IAPP Local Chapter
October 15, 2009
By Tom Flynn of Lavante, Inc.
Joe Ferrerra of Databank IMX attended his first IAPP chapter meeting in San Jose, CA in mid-August. Impressed with the full room as well as the earnest exchange of information among members Joe reached out to IAPP national in Orlando, FL and asked for support to begin a new chapter in his home city of Sacramento, CA. IAPP agreed to support the establishment of the new chapter and sent Executive Director Tom Bohn from Florida as well as Board Member Eric Jones from Lowes HQ in North Carolina.
Joe, serving as chapter President, kicked off the inaugural meeting to a room of 20 attendees and spoke very openly about his genuine desire to grow and maintain the chapter before introducing Tom Bohn to the room. Tom advanced through a series of slides outlining a number of ways in which the association was trying to empower the community. Within his presentation, Tom listed many highlights that IAPP has accomplished in the last year under his stewardship: IAPP has grown its membership, improved member ratings, open a UK office, improved its web presence, constructed a member resource center of over 1200 tools, entered partnerships with many other related organizations, extended support into the AR space, and much more. The most satisfying moment came when Tom stood in front of a slide stating that the association had 52 chapters across the U.S and Canada. Only one day earlier that number would have been 51.
At the conclusion of Tom’s presentation the floor was opened to questions and comments. To everyone's delight one of the attendees in the back row spoke up and thanked both Tom and Joe for putting the meeting together. The woman, Carol Vaughan, from the AP department of Thunder Valley Casino informed all in attendance that she was a long time member of IAPP and that she used to be a fixture in the Seattle chapter until a few years ago when family matters caused her to move from Seattle to Sacramento. As it is her company’s policy to pay dues for managers only, she was now paying her own dues and keeping up with the industry via the new IAPP website. She said she was delighted when she heard from Joe about the new chapter and she was excited to be interacting face to face with her community again. She said she had a lot of questions to ask of her peers to make up for the last few years away from chapter interaction.
Tom used Carol’s story as a perfect segue to introduce Eric Jones who was slated to speak about why he takes the time to volunteer and what benefits he sees in associating with other AP professionals. Eric recalled his first experiences at Lowes 15 years earlier where he had assumed a new job in AP would be easy. It was after all, “Just paying bills.” Eric quickly realized there was more to it and he leaned heavily on the newly formed IAPP (those many years ago) as a valuable connection to his knowledgeable peers. Eric spoke off the cuff with no presentation prepared and detailed, very completely, how he looks to IAPP for four major things. Community, Access, Resources and Experience. The speaker following Eric, Stephen Brooks of Databank pointed out very shrewdly that Eric’s reasons for contributing created the acronym C.A.R.E. Eric confessed to me and a few others after the meeting that he had already known that and it wasn’t a complete accident.
As the meeting wrapped, Joe polled the room about what the members would like to see in the up-coming year. Sherry DePew of Lavante, Inc., who traveled from out of town to assist with the new chapter, offered her wisdom from having served as President of the Boise, ID chapter for many years. She offered very real insights into how to make the 2010 agenda eventful and relevant.
All in all it was a great kick off meeting. We heard from new and old members we stuck to the script at times and we went off on a number of very important tangents. It was clear that the people in attendance had found a new resource and were immediately comfortable with each other and wasted no time asking probing questions about how to overcome certain obstacles. I got to see firsthand what IAPP offers to the AP community. I was happy to be there and happy to be part of it.
About the author: Tom Flynn of Lavante, Inc. has been serving the AP community for over 15 years. He sits on numerous IAPP committees and presents many educational workshops and presentations throughout the year at AP industry events.
By Tom Flynn of Lavante, Inc.
Joe Ferrerra of Databank IMX attended his first IAPP chapter meeting in San Jose, CA in mid-August. Impressed with the full room as well as the earnest exchange of information among members Joe reached out to IAPP national in Orlando, FL and asked for support to begin a new chapter in his home city of Sacramento, CA. IAPP agreed to support the establishment of the new chapter and sent Executive Director Tom Bohn from Florida as well as Board Member Eric Jones from Lowes HQ in North Carolina.
Joe, serving as chapter President, kicked off the inaugural meeting to a room of 20 attendees and spoke very openly about his genuine desire to grow and maintain the chapter before introducing Tom Bohn to the room. Tom advanced through a series of slides outlining a number of ways in which the association was trying to empower the community. Within his presentation, Tom listed many highlights that IAPP has accomplished in the last year under his stewardship: IAPP has grown its membership, improved member ratings, open a UK office, improved its web presence, constructed a member resource center of over 1200 tools, entered partnerships with many other related organizations, extended support into the AR space, and much more. The most satisfying moment came when Tom stood in front of a slide stating that the association had 52 chapters across the U.S and Canada. Only one day earlier that number would have been 51.
At the conclusion of Tom’s presentation the floor was opened to questions and comments. To everyone's delight one of the attendees in the back row spoke up and thanked both Tom and Joe for putting the meeting together. The woman, Carol Vaughan, from the AP department of Thunder Valley Casino informed all in attendance that she was a long time member of IAPP and that she used to be a fixture in the Seattle chapter until a few years ago when family matters caused her to move from Seattle to Sacramento. As it is her company’s policy to pay dues for managers only, she was now paying her own dues and keeping up with the industry via the new IAPP website. She said she was delighted when she heard from Joe about the new chapter and she was excited to be interacting face to face with her community again. She said she had a lot of questions to ask of her peers to make up for the last few years away from chapter interaction.
Tom used Carol’s story as a perfect segue to introduce Eric Jones who was slated to speak about why he takes the time to volunteer and what benefits he sees in associating with other AP professionals. Eric recalled his first experiences at Lowes 15 years earlier where he had assumed a new job in AP would be easy. It was after all, “Just paying bills.” Eric quickly realized there was more to it and he leaned heavily on the newly formed IAPP (those many years ago) as a valuable connection to his knowledgeable peers. Eric spoke off the cuff with no presentation prepared and detailed, very completely, how he looks to IAPP for four major things. Community, Access, Resources and Experience. The speaker following Eric, Stephen Brooks of Databank pointed out very shrewdly that Eric’s reasons for contributing created the acronym C.A.R.E. Eric confessed to me and a few others after the meeting that he had already known that and it wasn’t a complete accident.
As the meeting wrapped, Joe polled the room about what the members would like to see in the up-coming year. Sherry DePew of Lavante, Inc., who traveled from out of town to assist with the new chapter, offered her wisdom from having served as President of the Boise, ID chapter for many years. She offered very real insights into how to make the 2010 agenda eventful and relevant.
All in all it was a great kick off meeting. We heard from new and old members we stuck to the script at times and we went off on a number of very important tangents. It was clear that the people in attendance had found a new resource and were immediately comfortable with each other and wasted no time asking probing questions about how to overcome certain obstacles. I got to see firsthand what IAPP offers to the AP community. I was happy to be there and happy to be part of it.
About the author: Tom Flynn of Lavante, Inc. has been serving the AP community for over 15 years. He sits on numerous IAPP committees and presents many educational workshops and presentations throughout the year at AP industry events.
Friday, July 17, 2009
Accounts Payable and Economic Stimulus
By Thomas Walker
Portfolio Manager SAP Accounts Payable Solution
OpenText
Republished by permission of the author
It is difficult to go a day without seeing or hearing something about stimulating the economy. The basic tenet of the effort is to get more money flowing in the economy.
Most often this is thought of related to spending, i.e. “buying” or “procuring.” Too often, we do not consider the second part of the procure-to-pay (P2P) equation and that is “paying.” It is well documented that in many situations it is advantageous for a company to extend the Days Payable Outstanding (DPO) in order to increase working capital. While in the short run that is completely logical, one must consider the full economic supply chain.
Late payments to one supplier compounds into late payments to downstream suppliers. In order to compensate, the suppliers must raise prices, eliminate discounts or go out of business in many cases. This narrowing of the available selection of suppliers inevitably causes a trend toward higher prices from the remaining suppliers… hence the law of supply and demand.
Fiscal responsibility to the corporate stakeholders goes beyond the current economic crisis. Corporations and government that realize the importance of their accounts payable (AP) departments have invested in the necessary tools to optimize and automate the payment process.
One example where commitment to AP process optimization has been realized can be found in the England. Government officials pledged to pay suppliers within 10 days. While the typical AP issues have prevented this from becoming the norm, it does demonstrate the governments understanding of how AP impacts the economy.
SAP provides the granularity of information required to fully manage complete P2P transactions. Implementation of SAP Invoice Management brings the power of the individual transactions into a tightly controlled process while providing a comprehensive view into the process from invoice receipt whether electronic or paper (via optical character recognition (OCR)) through to exception resolution.
As companies and government order goods and services, it is essential that payment for these goods and services be managed as a process to keep the stimulus flowing, rather than coming to a stop with the first purchase. Financial management must provide immediate and full visibility and control of the AP process to fully participate in the stimulus so that it ultimately provides the benefit we expect.
So…is AP an undeniable significant component of economic stimulus initiatives around the world? I for one say YES!
Read more blogs by Thomas Walker at http://apoptimization.blogspot.com/
Portfolio Manager SAP Accounts Payable Solution
OpenText
Republished by permission of the author
It is difficult to go a day without seeing or hearing something about stimulating the economy. The basic tenet of the effort is to get more money flowing in the economy.
Most often this is thought of related to spending, i.e. “buying” or “procuring.” Too often, we do not consider the second part of the procure-to-pay (P2P) equation and that is “paying.” It is well documented that in many situations it is advantageous for a company to extend the Days Payable Outstanding (DPO) in order to increase working capital. While in the short run that is completely logical, one must consider the full economic supply chain.
Late payments to one supplier compounds into late payments to downstream suppliers. In order to compensate, the suppliers must raise prices, eliminate discounts or go out of business in many cases. This narrowing of the available selection of suppliers inevitably causes a trend toward higher prices from the remaining suppliers… hence the law of supply and demand.
Fiscal responsibility to the corporate stakeholders goes beyond the current economic crisis. Corporations and government that realize the importance of their accounts payable (AP) departments have invested in the necessary tools to optimize and automate the payment process.
One example where commitment to AP process optimization has been realized can be found in the England. Government officials pledged to pay suppliers within 10 days. While the typical AP issues have prevented this from becoming the norm, it does demonstrate the governments understanding of how AP impacts the economy.
SAP provides the granularity of information required to fully manage complete P2P transactions. Implementation of SAP Invoice Management brings the power of the individual transactions into a tightly controlled process while providing a comprehensive view into the process from invoice receipt whether electronic or paper (via optical character recognition (OCR)) through to exception resolution.
As companies and government order goods and services, it is essential that payment for these goods and services be managed as a process to keep the stimulus flowing, rather than coming to a stop with the first purchase. Financial management must provide immediate and full visibility and control of the AP process to fully participate in the stimulus so that it ultimately provides the benefit we expect.
So…is AP an undeniable significant component of economic stimulus initiatives around the world? I for one say YES!
Read more blogs by Thomas Walker at http://apoptimization.blogspot.com/
Friday, June 12, 2009
Friday, June 5, 2009
Sunday, May 31, 2009
Friday, May 22, 2009
Despite potential savings, paper is still king
Accounts payable departments are adopting technology in large numbers, but that doesn’t mean we’re anywhere close to going paperless, according to results of the IAPP’s 2008 Benchmarking Survey. The survey showed that document imaging is in use at nearly 70 percent of organizations represented by the 184 members who responded to the survey. Electronic payments are in use at 64 percent of organizations, approval workflow technology at 46 percent and electronic invoicing at 35 percent.
But when it comes to volume of transactions, paper is still king at organizations of all sizes. All told, 69 percent of invoices are still received the old-fashioned way – on paper. And a whopping 75 percent of all payments are still made by paper check – all the more surprising because that number represents no statistical change from the IAPP’s Benchmarking Survey of four years earlier.
Given that paper invoices cost about twice as much to process as invoices received via electronic document interchange or a portal – an average of $5.40 versus an average of $2.67 – why aren’t organizations moving faster in that direction? Is the initial cost of making the switch prohibitive? Are vendors reluctant to get on board? If your organization is working toward making more transactions electronic – or if it has considered and rejected that approach – we want to hear from you, and your AP peers need to hear from you. Vendors, we want to hear your perspective, too.
What’s stopping AP shops from going paperless??
Check out the full report of the benchmarking survey at www.theiapp.org/benchmarking, and don’t miss the first of six tear-and-save benchmarking tip sheets coming the June-July issue of AP Matters! View current and archived issues at www.theiapp.org/APMatters.
www.theiapp.org
But when it comes to volume of transactions, paper is still king at organizations of all sizes. All told, 69 percent of invoices are still received the old-fashioned way – on paper. And a whopping 75 percent of all payments are still made by paper check – all the more surprising because that number represents no statistical change from the IAPP’s Benchmarking Survey of four years earlier.
Given that paper invoices cost about twice as much to process as invoices received via electronic document interchange or a portal – an average of $5.40 versus an average of $2.67 – why aren’t organizations moving faster in that direction? Is the initial cost of making the switch prohibitive? Are vendors reluctant to get on board? If your organization is working toward making more transactions electronic – or if it has considered and rejected that approach – we want to hear from you, and your AP peers need to hear from you. Vendors, we want to hear your perspective, too.
What’s stopping AP shops from going paperless??
Check out the full report of the benchmarking survey at www.theiapp.org/benchmarking, and don’t miss the first of six tear-and-save benchmarking tip sheets coming the June-July issue of AP Matters! View current and archived issues at www.theiapp.org/APMatters.
www.theiapp.org
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