AP Now Survey Pinpoints Top 10 AP Strategies to Improve Profitability

lightly fewer than 85% of Accounts Payable Now & Tomorrow’s readers recently surveyed report that their organizations have taken steps to tighten their belts in response to the current economic crisis. And accounts payable is contributing to the effort. The Top Ten While some are what you might expect, a number of the strategies being used are never considered by management when looking to bolster the bottom line. (See the table on page 16 & 17.) Here’s the “AP Contributes” Top 10 List. 1. 2. Staff reductions Stretching payment terms

April 2009
Inside this issue:

S

3. Eliminating or reducing salary increases 4. Taking all early payment discounts 5. Rigorously employing duplicate payment checking routines 6. Establishing stricter Travel & Entertainment guidelines and reviews 7. Aggressively pursuing vendor credits 8. Reviewing all discretionary spending 9. E l i m i n a t i n g d i s c r e t i o n a r y

Publisher’s Letter A 7 Step Plan to Cut T&E Fraud Risk Outlook: Economy Down, Fraud Up AP 101: Segregation of Duties Eliminate These 12 Really Bad AP Practices Sleeper Issue: Gov. Contractor Withholding Fraud Prevention: Simple Solution to Stop New Threat AP Staffing & Salaries in a Weak Economy Strategies to Protect Bottom Line Tips, Tactics & Strategies

2
3

5

7 9

10

11

Purchase entire newsletter to read the complete article. Instructions on next page.

15

Hot Topic: AP Now on Job Rotation and Mandatory Vacation Policies

I

16

n recent months, the issues of mandatory vacation policies as well as job rotation have gained greater visibility. This is due to the recognition that these are two of the least expensive and most effective ways to prevent internal fraud. When we began putting this article together we

assumed it would be a fairly easy task. We were wrong. We had hoped to be able to quickly discover policies that addressed mandatory vacations and job rotation. But finding the information proved daunting and in the end, after talking with several experts, we got to work and created these guidelines
Continued on page 12

18

Accounts Payable in Tight Times

Accounts Payable Now & Tomorrow
CRYSTALLUS, Inc. Accounts Payable Now & Tomorrow 560 Peoples Plaza #197 Newark DE 19702 Phone: 302-836-0540 Fax: 302-836-0541 E-mail: customerservice@ap-now.com publisher@ap-now.com

Order Form

Accounts Payable Now & Tomorrow
Price 1 year $329.00 $579.00 $869.00 $29.95 $179.00 $179.00 $279.00
*

Accounts Payable Now & Tomorrow

Accounts Payable Now & Tomorrow 2 years Accounts Payable Now & Tomorrow 3 years THIS ISSUE : AP in Tough Times
CD ________________________ (fill in name )

Webinar ________________________ (fill in name ) Web +CD ____________________________ (fill in name )
Fax order to 302 836 0541
Mr./Ms. Name Company/title

Shipping Total:

The newsletter for professionals concerned about payment issues

Method of Payment Check made payable to CRYSTALLUS enclosed Visa MasterCard American Express

Address Phone E-mail Address

Credit Card # Signature *$0.00 (it’s on us)

Exp. date

SCRBD

Upcoming Webinar Schedule
June 11: Accounts Payable Best Practices 2009—Not Always What They Were Two Years Ago! July 23: Proposed Penalty Notice Season Is Almost Here: Are You Ready? July 30: Fraud Prevention and Detection Best Practices Sept. 17:Unclaimed Property: What You Need to Know to File Accurately
To request an invoice or W-9 e-mail publisher@ap-now.com/call 302 836 0540

Detecting and Preventing Duplicate Payments June 25 http://www.ap-now.com/findduplicatepayments.html

Accounts Payable Now & Tomorrow
560 Peoples Plaza #197 Newark DE 19702

Purchase this issue for $29.95 now and pay with a credit card at
http://www.shop.ap-now.com/product.sc?categoryId=14&productId=138

CDs available two weeks after each event. NASBA CPEs for ALL events.

Use Order Form above to pay with check. Make checks payable to CRYSTALLUS, Inc. and mail to address at top left.

Build Your AP CD Library
http://ap-now.com/apcds.html

Sign up for our free weekly ezine, e-AP News at http://www.ap-now.com/ezinesignup.html It includes tips, excerpts as well as the latest accounts payable news.

Sign up to vote on this title
UsefulNot useful