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
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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



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



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
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Accounts Payable in Tight Times

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