Posts Tagged ‘TAWPI’

Dynamic Discounting

Tuesday, May 18th, 2010

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 how they are not really slaying this dragon… yet. 

When one panelist asked aloud if the room was engaging successfully in the practice only about 3 hands when up all the way…  there were one or two of those “half-up-but-not-really hands.”  I will not call anyone out but among the firms successfully using dynamic discounting were two large fortune 50 stalwarts.  Even they had to admit that they targeted vendors were of a select group and that procurement was still very much debating if they should negotiate longer terms and stay away from the early pay discounts.

Just thought I would shed a little light for those in the crowd that think they missed this train.  The conclusion:  People LOVE the idea of a successful dynamic discounting program and this topic has major buzz, but like most things… not many people can really sustain the practice and it remains in “when-I-have-time-to-get-around-to-it” limbo.

Please comment if you have plans to make this practice work internally or if you have input on the topic.  Would love to get more data on this.

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IAPP Masters Session at FUSION 2010 (part 1)

Saturday, May 15th, 2010

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 was conceived almost a year prior to FUSION 2010 and required the successful alignment of many moving pieces.  IAPP’s annual conference has long been considered an event for AP professionals, managers and supervisors.  To its credit the yearly networking and educational bazaar has become the premier event for all things AP and has consistently delivered payables professionals the necessary tools needed to keep up with best practices and excel at their roles.  Unfortunately the event did very little to help dispel that silly little question that has been plaguing AP pros for years, “what’s so difficult about AP?  It’s just paying bills, right?”

Expanding on the years “FUSION” theme the Master Session aimed to create a track that would speak to the combined Master’s audience and planned to placed much emphasis on Shared Services topics with a consistent focus on Accounts Payable themes.   If done correctly the track was intended to discuss AP issues at a level which would be relevant to both the CFO, the AP Manager and all stops in between.

A task force of service providers and financial professionals was assembled and after months of much hard and many iterations the group finally delivered an all-day session consisting of five panels comprised of 4-5 experts.  Topics included:

  • The Top Ten Best Practices of Shared Services
  • The Changing Role of AP and AR
  • Metrics and Benchmarking in Accounts Payable & Shared Services
  • Compliance Management
  • Selecting the Proper Service Delivery Model for your Department

 (check back for part 2)

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Tom Bohn, IAPP FUSION Kickoff Speech

Wednesday, May 12th, 2010

Tom Bohn absolutely “brought it” during the opening session of IAPP FUSION 2010.  I have long been a proud member of IAPP, but Tom’s remarks really hit a nerve and left me feeling even better about the association.  Tom started his speech by taking us on a little trip through the five different music delivery technologies that most of us have experienced during our lifetimes: LP, 8-track, cassette, CD & MP3.  The point was simple… the times they are-a-changing.

Tom discussed change and pointed to several more eye opening things that will be changing in the coming years; China will become home to the largest English speaking population in the world (WHAT?!) and a computer will surpass the human ability to reason.  (Although he did admit that his intellect was likely outpaced by the 386.) 

Ultimately the point of his story was about the changes being experienced by major corporation around the globe.  An advocate for financial professionals of all departments and ranks Tom drew a straight line to how these new shake ups being experience the world over would effect the folks sitting in the room.  His answer to the problem was not simple, but I interpreted the spirit of his sentiments to be… “we rise up, we get resourceful, we attack the situation and we prevail.”  That is what FUSION is all about!  Tom actually said it outright, “IAPP/IARP/TAWPI Fusion is not the culmination, it is just the beginning of how we address the change in the world and the change in the workplace.”  OK I am paraphrasing, but you get the point.

This year’s Dallas conference is host to 1600 souls which is the second largest turnout for an IAPP event in the association’s history.  Where many other associations are suffering their worst attendance rates ever and trying with all their might not to dissolve from existence, IAPP is surging. IAPP is delivering one hell of a product.  That is a great road map for how to overcome obstacles as well.

I have walked around FUSION for the last two days I have attended many sessions and I have joined spirited discussions from the perimeter of many round tables in the banquet hall at breakfast and lunch.  I have seen it first hand…  more involvement and engagement from attendees, more workshops, more information & more services provider solutions.  IAPP even hosted a series of tours where financial professionals could opt in to take a guided walk through the exhibition hall and listen to high level 5-7 minute descriptions of  service provider solutions.   Contrast this to the typical interactions… at most conferences, attendees are forced to travel booth to booth to get a booklet stamped in hopes of winning a prize…  that is NOT strategic and that is NOT helpful, that is disrespectful to everybody’s time.  FUSION is creating an environment where attendees can actually view the providers as… well… providers.  What a concept.

We (Lavante) presented our solution in the “Emerging Technology Tour” and 87 people attended to hear our CEO discuss our Lavante Connect new product launch.  I actually heard one of the tour attendees say, “The technology tour has been the most useful hour of my entire 2010.”   (That is a majorwin for them) We set up over ten product demonstrations alone in just minutes as the touring mass scattered from our booth space.  Incredible! (That is a major win for us)

All in all, I am a believer and I think IAPP is on the right track.  I am proud to be involved with this group and I hope we can all follow the example and get motivated and adapt to the changing times and coming up with winning solutions.

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IAPP/TAWPI FUSION 2010

Tuesday, May 4th, 2010

How is next week’s IAPP conference like jumping out of a plane? 

Next week is IAPP’s annual conference at the Gaylord Texan.  Up to 2,000 financial professionals will be living and doing business all within a 1 mile radius of each other.  An ideal petri dish for best practices, catching up with colleagues and meeting new service providers that can take your productivity to the next level.  Whenever coming up on trade shows and conferences I always think back to an episode in my life about fifteen years ago when some friends and I thought it would be a great idea to  jump our of a perfectly good airplane!  We wanted to skydive, a right of passage for the adrenaline repressed.

I wasn’t sure how I felt about the idea so, a few days before the big event I began to train my mind to de-sensitize itself to the thought of hurtling myself ground ward from ten miles up.  Every time the fear would bubble up I would overcome it and calm myself to minimize the apparent dangers.  It was probably some kind of defense mechanism, but by jump day I was pretty unaffected by the thought of skydiving.  Where my friends were sick with excitement, I was very non-chalant and clam about the ordeal.  Even as the plane spiraled is ascent I do not think my pule rose above normal.  We were all jumping tandem and as my instructor inched us closer to the opening on the side of the plane I felt nothing.

In the next moment we were tumbling in what felt like weightlessness.  At one moment, nothing but blue and then a flash of wing and then the earth below me.  Arms spread, wind in my face, man yelling in my ear…  I felt nothing.

So what does this have to do with IAPP?  Next week I challenge us all not to do what I did.  Do not detach, do not go into “play it safe” mode, do not spend time in the safety of your room or at dinner with only the people you know.  IAPP works around the calendar to put together one of the finest trade events in any industry and they absolutely pack the schedule from Monday to Thursday to delivery quality.  There is so much available to financial professionals at all levels at next week’s conference and I strongly encourage all attendees to experience every bit of it.  Be as present as you can, attend as many session as you can, and start conversation with strangers.  Every person in every room at the Gaylord Texan next week has something of value to offer and the information is only a hand shake away.

View next week as an opportunity to advance you career and to meet experts that ave been through all of the business problem you are facing.  Expand your personal network and jump in with both feet.

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IAPP FUSION

Thursday, March 11th, 2010

IAPP’s annual event for AP professionals is scheduled for May 9-13 just outside of Dallas, TX.  Two months remain to register and make your plans to attend.  (Lavante will be there demonstrating solutions for profit recovery, TIN management and Vendor File Management)

I am impressed with IAPP’s resilience in creating this event.  It is no secret that trade show attendance is down this year and many shows are running at about 30% of their participation levels from only a few years ago.  IAPP has done a couple of clever things to battle this trend and I have to say that I am genuinely impressed.

They have partnered with a like-minded association, TAWPI to pull together resources and to broaden the offering to all attendees.  They have introduced a sister company IARP to bring more connectivity throughout the Shared Service group.  They have broadened their offering to become more relevant to Shared Service Directors and CFOs.  This will increase then number of interested parties and it will add more value at the decision maker level.  (Directors are more likely to approve budget for show attendance if the material is relevant to them.) IAPP has also made a very public effort to add more content and value to the show.  They have even added a guided tour of the trade show floor to help call out and demonstrate specific vendor solutions for outsourcing, technology, document management, imaging and almost anything else you can think of.

To date I understand attendance for the event is ahead of last years numbers and there is a very strong buzz in the industry about this show.  Can’t wait to see you all there.

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An Introduction and Some Thoughts on Shared Service Centers

Tuesday, March 9th, 2010

Before I get to the heart of this post, I wanted to take a moment to introduce myself. I’m a business and financial writer who’s been covering the AP space, and have been working with Lavante for several months. I’m looking forward to weighing in here on a range of topics, and hearing your thoughts on the issues as well. Please feel free to share your thoughts and comments.

Now, onto the post:

If your company is like most, management continually is hunting for ways to cut costs and streamline operations. One way a growing number of firms are doing this is by establishing shared service centers (SSCs). In fact, more than half the organizations responding to the IAPP/TAWPI 2009 Document Management Benchmark Study indicated that they either plan to combine payments and document processing functions or they already have done so, as this article points out.   (more…)

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