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Best Practice

T&E expenses - plenty of blame if you get it wrong

T&E expenses are still an area beset with problems – from lost receipts, accusations of favouritism to outright fraud.  On top of this, there’s the added issue of employees claiming that they simply "didn't know" whether they were able to claim for certain items or not, so just included them amongst their other receipts and hoped for the best, or didn't include anything at all.  Clear knowledge on what is a legitimate expense claim and what isn't is common across many organisations. The issue was confirmed in a recent report by Capital One, where it found that up to 45% fail to make any claims, at an average personal cost of more than £350.

Is your AP department still operating in isolation?

The accounts payable function can find itself operating within a bubble; cut off to some extent from the rest of the organisation in a constantly evolving environment where time is in short supply. The effect of this can be for the department to become insular, where the only measures are against past performance, and the only metrics used are the ones which were considered useful to that organisation at some point in the past.

What Happens when Best Practice is Ignored?

Most organisations know that they should be aiming towards best practice processes - but what does it really mean - and can something as diverse as accounts payable ever be constrained to a simple set of rules across all organisations? If we're talking about specifics, the answer is probably no - but the general framework and methods of working can be aligned in a way that can be translated across AP departments regardless of size, to some extent industry and internal culture.

Accounts Payable Metrics Improve Retail Efficiency

Retailers are operating in a world which is vastly different from a few years ago. Faced with competition from across the globe, those organisations who fail to adapt and meet the new challenges will find themselves out of touch and out of business. With an ever increasing growth in the power of the consumer via internet and mobile purchasing applications, organisations need to be resourceful and innovative when tracking how trade is affected and adapt to suit. Nowhere is this more important than in Accounts Payable.