Shared Services

/Tag:Shared Services

Exploring Fraud in the P2P Environment

All Companies Suffer from Fraud Companies of all sizes across all industries are at risk of fraud from internal and external sources.  One asset in particular that suffers significantly from the risk of fraud is the master vendor file.  For most companies, the population of vendors and suppliers is so massive, complex, and multi-faceted that [...]

Days Credits Outstanding – a new metric for managing cash flow

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 [...]

By | August 24th, 2014|Categories: AP Industry|Tags: , , , , , |0 Comments

Vendor Statement Audit – A Best Practice for AP Departments (Part 2 of 2)

In part one of this blog we discussed how the traditional approach to vendor statement auditing recovers only up to $100,000 per every $1B audited annual whereas a proper statement audit should recover 5-10X that amount.  In this blog I would like to discuss how and why Lavante is able to hit those much higher numbers. Lavante [...]

Recovery Auditing Misconception #4

Recovery Auditing Misconception #4:   I don't have the time or resources to support this process The Short Answer: It takes very little of your time or resources to support a Lavante recovery audit.  All you need do is send a basic vendor file and dedicate one employee for typically an hour per week. How is [...]

Automatically Requesting and Collecting Certificates of Insurance from your Suppliers

Requesting, collecting and managing the expiration of insurance certificates is an important process for any organization. Lavante SIM has the ability to request up to date Insurance certificates from all of your suppliers. The application will automatically store the documentation that are collected and provide for automated work flow to follow up with suppliers when the Insurance certificate has expired.

Lavante and Ariba highlighted for New Cashflow Metrics

AP Matters Magazine highlighted Lavante in a recent article in their September/October edition. The Article features conversations with executives from Lavante and Ariba discussing how their firms are creating new cash flow metrics that are helping financial executive watch there bottom line a little more closely. Joe Flynn, CEO of Lavante discussed how Lavante's DCO [...]

Maintaining Supplier Data and Information to Maximize ERP Systems and 1099 Reporting Compliance (Part 1)

Supplier information is integral to optimizing your relationships with your suppliers and for maximizing the value from your ERP system and other automated solutions.  Used correctly, a well kept supplier master data file is a strategic asset that can be leveraged into time savings, resource savings and dollars to your company’s bottom line. The biggest [...]

IAPP Masters Session – The Changing Role of AP and AR

From this blogger's perspective the Masters Session (at FUSION 2010) hit full stride during the second panel of the day, "The changing Role of AP and AR."  Moderated by Andre Hale the Director of Accounts Payable at Disney Worldwide Shared Services, this panel aimed at exploring the migration that AP professional have made in their job duties [...]

By | May 19th, 2010|Categories: IAPP, AP Industry|Tags: , , , , |1 Comment

Dynamic Discounting

In my very unscientific research I have come to discover that Dynamic Discounting is all the rage, but that doesn't exactly mean people are doing it.  During the "Changing Role of AP/AR" panel discussion at last Wednesday's Masters Session a number of the panelists and and brave souls from the audience spoke very openly about [...]

IAPP Masters Session at FUSION 2010 (part 1)

There is a wonderful story behind IAPP/TAWPI's Master's Sessions at FUSION2010... In addition to record attendance, five guided service provider tours and a blockbuster announcement about the merging of IAPP/IARP & TAWPI, FUSION 2010 also saw the introduction of a brand new track specifically designed for CFO, Controllers and Directors in Shared Services. The track [...]