For those that are not familiar, Rich Lanaza has a great website called findmillions.net that discusses a number of aspects of the recovery audit industry. Specifically he has a few pages outlining the benefits of the services as well as the top questions people should ask when considering an audit. Our own website will soon grow to [...]
Updated: In my humble opinion the Profit Recovery industry does not get enough credit (no pun) for the value they provide. Analysts do not cover the space and most media outlets and publications glance over the topic. Before and since my original post I have made it a personal mission to reach out to different journals and periodicals in the [...]
I have noticed a pretty compelling trend as it relates to our sales cycle and trade shows. Most shows in the AP space place a heavy emphasis on attendee education and offer a number of tracks for everyone to attend and learn about the latest trends in the Accounts Payable. All of these shows accept sponsorship from service providers [...]
Most AP professionals are well aware of the environmental benefits of moving to online bill payment. The same benefits, not surprisingly, apply at home. Just by moving to online bill payment, a household can save more than six pounds of paper and cut greenhouse gas emissions by 171 pounds annually, according to a recent study [...]
The AP Alliance program is available exclusively for IAPP partners to engage further with the accounts payable profession. It assists in leveraging relationships with your clientele by enhancing your credibility and commitment. It’s not only about investing in IAPP – it’s about your commitment and passion to advocate the AP profession! More details from the IAPP [...]
If you’ve been wondering about the status of the job market for individuals with expertise in accounts payable, Indeed.com, an online search engine for jobs, has some fun charts and graphs that get at this question. Starting with the broader field of accounting, Indeed.com shows a 10 percent uptick in postings for accounting jobs over the [...]
Days Sales Outstanding (DSO) and Days Payables Outstanding (DPO) are important, widely used metrics to manage working capital. Financial managers monitor these statistics very closely and regard them as key performance indicators as they work to maximize overall cash flow as well as transactional efficiency. Through our audit work communicating with extremely large numbers of [...]
Happy St. Patrick's Day. I always enjoy this holiday. I love that everyone wears green and speaks openly about leaving work early to make it to happy hour on time. Today has been a fantastic and festive day and was capped off about 20 minutes ago when I received an unexpected call from a client [...]
As you probably know, accounts payable departments need to obtain taxpayer identification numbers (TINs) from vendors before paying them. TINs are identification numbers the IRS uses in the administration of tax laws, and are issued either by the Social Security Administration (SSA) or by the IRS, according to this article on the IRS’ website. However, vendors aren’t always diligent about providing their TINs or making sure that the ones they do submit are accurate. Even so, if your firm fails to provide the correct one on its tax returns, it risks receiving B-Notices. Here are several tips to help you avoid that: […]
In the December-January time frame we ran a contest asking AP professionals what was their great idea for 2010. We were a little bit surprised by the high number of responses, but what was even more surprising was a very consistent trend throughout the responses. 2009 was a challenging year and many AP departments were forced to downsize drastically while, [...]