“By encouraging your A/P team to report and make critical department KPI metrics visual, such as, process cycle time, activity lead times, and cost per invoice with industry and competitor comparisons you realize the opportunity to reduce costs, increase productivity and streamline processes.”
Tag Archives: accounts payable
How to stop Freight Charges from eating away at profits
The shipping and delivery cycle time race amongst valuable brands like Amazon and Walmart is a fierce one. Many parcel companies like UPS and FedEx may offer discounted rates for delivering on time but the real question is, “Are they actually delivering on time?” By implementing effective visual internal controls, your company’s accounts payable teamContinue reading “How to stop Freight Charges from eating away at profits”
Reduce A/P and A/R Errors with Standardized Work
Per my previous article, “Taking a Visual Management Approach to Accounts Payable”, I touched upon a Lean Six Sigma technique, called, Standardized Work. “Standardized work is often referred as standard operating procedures to refer to the activities that must happen in order to complete a process. Essentially, everyone doing the job does it exactly theContinue reading “Reduce A/P and A/R Errors with Standardized Work”
A Visual Management Approach to Accounts Payable
Purchase order approval audit trails and visual bill entry controls can be an effective way to reduce the time it takes to resolve Accounts Payable errors and keep your vendors happy. Visual management allows for standardized visual controls that are visible to all Accounts Payable (and also accounting team) on how approvals should be obtainedContinue reading “A Visual Management Approach to Accounts Payable”
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