map_mar_2014

March 2014ISSUE 14-03

You can view all of these articles plus videos, tools, and resources at our member website www.theaccountspayablenetwork.com

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CONTENTS

Accounts PayableTHE

NETWORK

AP NEWSInstitute of Finance & Management (IOFM) and The Accounts Payable Network (TAPN) Combine AP Memberships and Resources ..........................................................................................................................2As an outgrowth of the recent acquisition of TAPN by IOFM, accounts payable professionals will now have unprecedented access to tools, compliance information, benchmarks and metrics, conferences and webinars, peer networks, training, certification, and online content.

CASE STUDYCompliance Is Critical for Utilx .............................................................................................................................................3Dont allow your department to be responsible for costing the company millions of dollars in government fines for noncompliance. As the compliance checkpoint, AP has the authority to reject items submitted for payment that are not in compliance with required processes.

PAYMENT PROCESSINGEvaluated Receipt Settlement (ERS) Saves Briggs & Stratton More Than $600,000 a Year .............................................4Briggs & Stratton was processing so many invoices every day that there was no time to organize, prioritize, or address problems and issues. Heres how one AP pro addressed the situation.

PROCESSES & PROCEDURESRules Are Critical to Promoting Efficient Processing ..........................................................................................................6While many of the rules that AP has put in place seem silly and even overkill by employees, they have been put in place for good reasons. T&E reimbursement is an area particularly at risk for fraud. Accounts Payable Calendar ...................................................................................................................................................7

IOFMS AP MEMBER EXCHANGE ADVISORY PANELRecruiting, Hiring, and Retaining New Employees: Is Temp-to-Hire the Way to Go? .......................................................8The temp-to-hire strategy allows an AP manager to see how well a candidate performs tasks and fits into the team before being of-fered a full-time position. Are AP professionals widely using this strategy?

STAFF MANAGEMENT10 Tips for Achieving Greater Productivity and Better Morale in AP ............................................................................. 10It can be challenging to keep your AP team motivated, but you can do it if you understand their daily tasks, ask their opinions, and listen to their concerns. The key is to focus on areas of opportunity. Heres how.

AUTOMATION & TECHNOLOGYTips for a Successful Automation Project in AP ................................................................................................................ 11During an automation initiative, send out information regularly, schedule meetings, provide users with plenty of tips and tricks on the intranet or via e-mail, and follow up. Also important: Be helpful even during negative times.

INTERNAL CONTROLSSpoiled Checks, Like Spoiled Children, Are Best Avoided ............................................................................................... 12Spoiled checks are nothing to fool with. A fraudster within the organization could get his or her hands on a spoiled check that is not properly destroyed and attempt to cash it. The real test of an AP departments mettle is how they handle these checks.

PURCHASING CARDSDo You Know How Much It Costs to Process a P-Card Transaction? ................................................................................ 13Approximately 40 percent of respondents to a recent IOFM survey said they dont know how much it costs their organizations to process a P2P transaction. Here are some useful benchmarks to help you get a handle on the cost.

News Briefs .......................................................................................................................................................................... 14

2MANAGING ACCOUNTS PAYABLE


MARCH 2014

As an outgrowth of the recent acquisition of TAPN by IOFM, accounts payable professionals will now have unprecedented access to tools, compliance information, benchmarks and metrics, conferences and webinars, peer networks, training, certification, and online content.

There will be one combined membership going forward, and all members will receive, as part of their subscription, the Managing Accounts Payable newsletter, says RD Whitney, Executive Director of IOFM.

In addition, the content from IOFMs Accounts Payable Exchange website has been merged with the TAPN site. Both IOFM and TAPN members have been provided access to this combined IOFM/TAPN website, says Whitney. This translates to substantially more benefits for our members, since it provides AP professionals with the most extensive resources available in the accounts payable arena today.

Along with the acquisition of TAPN, IOFM also acquired The Accounts Receivable Network (TARN) and will offer six events in 2014 dedicated to AP, AR, and Controllers. They are:

1. AP/P2P Leadership Conference, May 19-21, Grand Floridian Hotel Walt Disney World Resort, Lake Buena Vista, FL;

2. Accounts Payable Conference & ExpoEast, April 6-9, Hilton Alex-andria Mark Center, Alexandria, VA;

3. Payments Summit, June 2-4, Hyatt Regency Baltimore, Baltimore, MD;

4. Controllers Conference & Expo, Sept. 14-16, The Westin OHare, Chicago, IL;

5. P2P Leadership Summit (a new conference designed to help pro-fessionals maximize their organizations procure-to-pay processes), Oct. 27-28, The Mirage Hotel & Casino, Las Vegas, NV, and

6. Accounts Payable Conference & ExpoWest, Oct. 26-29, The Mirage Hotel & Casino, Las Vegas, NV.

Ongoing Services and OpportunitiesThe TAPN/IOFM AP Certification Program, a top source of accounts payable training for AP staff and management, will continue and will be expanded. And for companies with $1 billion or more in annual revenue, IOFM offers the Senior Accounts Payable Leadership Network (SAPLN), a peer network in which best practices and proprietary research is shared through private, in-person meetings. As the integration of the two companies moves forward, members can feel free to direct their questions to IOFMs customer service department at 570-567-1234 or e-mail [email protected].

Editors Note: The Institute of Finance & Management (IOFM) is a business unit within Diversified Communications, a family-owned international media company with a 64-year history, based in Portland, Maine. q

Editor-in-Chief, IOFMs AP Publications; Education Director, IOFMs Accounts Payable

Certification Program Pam Miller, APM with Distinction

Editor Elaine Stattler, APM

Executive Director R.D. Whitney

Group Publisher David Beck

Editorial DirectorRob Rogers

Marketing Manager Audrey Hodgdon

Research ManagerJohn Pitsios

Copy EditorChris Horner

Production Associate Doug Stewart

Sales Director Brian Cuthbert

Member Services Andrew Fitzpatrick

Editorial Advisory Board

Karen Anderson, Senior Compliance Advisor Abandoned Property Services

Diane Yetter, President Yetter

Marianne Couch, ESQ., PrincipalCokala

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AP NEWS

Institute of Finance & Management (IOFM) & The Accounts Payable Network (TAPN) Combine AP Memberships and Resources



MARCH 2014

Renown Sylvester, Accredited Payable Specialist, has been in his job for seven years at Utilx Corporation (Kent, WA). He is a one-man AP department for the company, which has 500 employees, and he is a stickler for ensuring that APs processes comply with company disbursement policies as well as pertinent laws and regulations.

I would not want to be the one responsible for causing the company millions of dollars in government fines for noncompliance and also causing a bad reputation for the company, especially if we do not comply with the FCPA policy and other strict laws, says Sylvester.

Accounts Payable Is the First Line of Defense for ComplianceAs the compliance checkpoint, AP has the authority to, and is required to, reject items submitted for payment where compliance with required processes and/or approvals is not evident, says Sylvester.

Such compliance requirements include, but are not limited to:

Verifying required three-way match; Ensuring that invoice items and per-unit prices

are within approved tolerances for the referenced purchase order (PO) or agreement;

Making sure that quantities or volumes invoiced agree, within approved tolerances, with the com-panys receiving records;

Verifying the existence of FCPA anti-corruption certificates as required per company Foreign Corrupt Practices Act policy and related proce-dures; and

Ensuring proper approval, per delegation-of-authority matrices, for all non-PO invoices and employee expense reimbursements.

The Ramifications of NoncomplianceNoncompliance could stick you with significant fines or even jail time, Sylvester stresses. For public companies such as ours, there are Sarbanes-Oxley considerations that have implications for vendor relationships.

To comply with Bureau of Industry and Security (BIS) regulations if we export cables or other manufacturing parts, we must make sure that any vendor we add is

not on the BIS Denied Persons List, Unverified List, Entity List, or Debarred.

Some of our compliance issues include the OFAC (Office of Foreign Assets Control) List from the U.S. Department of Treasury. Just as we have to make sure that none of our customers or vendors is posted here, we are also prohibited from acquiring goods or services from persons included on this list. Goods and services also may not be acquired from those organizations identified as Foreign Terrorist Organizations (FTOs) by the Secretary of State, in consultation with the Attorney General and Secretary of the Treasury.

How to Reduce NoncomplianceWhen AP determines that there has been non-compliance with applicable policies, Sylvester immediately notifies the appropriate parties and takes action to remediate the issue.

AP must not process items for payment that do not meet standards as set in all applicable policies, he stresses. I notify the appropriate party and reject the items submitted for payment. I also cut and paste a portion of the policy and procedure stating the steps for compliance and e-mail it to the party who submitted the items.

A case in point: When Utilx was bought out by Willbros, a publicly traded company, Sylvester spent six months establishing policies and procedures to ensure that AP would comply with Sarbanes-Oxley regulations.

I ran into a number of compliance issues after putting these policies in place. The first was the difficulty in obtaining the proper approval, per delegation of the authority matrices, for all non-PO invoices and employee expense reimbursements, he explains. There was not a list of authorized approvers along with the approval limits as guidance. I would get all kinds of approvals from everyone out in the field and internally.

So to solve this problem, I set up a list of authorized signers with signature cards for my records. I had the VP of Finance review and approve the list and the signature cards, he says.

Lessons LearnedI have learned that by managing compliance issues

CASE STUDY

Compliance Is Critical for Utilx



MARCH 2014

and making sure everyone follows the policies and procedures at all times, our company does not have to worry about getting hit with significant fines or even jail time, says Sylvester.

It also gives me peace of mind knowing things are operating in a safe environment in the event we get surprise audits by our compliance team, he adds.

Advice for Other AP ProfessionalsSylvester has the following advice for other AP managers:

1. Make sure payments are made only to ap-proved vendors. AP managers must check their vendor master files against the prohibited vendor lists on a regular basis and check new vendors against these lists before adding them to their master files. Sometimes even if the name of the vendor you do business with isnt included on the OFAC List, you could still surprisingly find your-self with an OFAC violation, Sylvester cautions. See Vendor Verification Essentials for Form 1042S, non-resident aliens, he explains. If you hire a vendor who is a nonresident aliena

foreign visitor who gets paid for services per-formed in the United Statesyour company must issue a Form 1042S, which is similar to the Form 1099 you are required to issue for independent contractors, for any amount of money you pay them. Dealership vendors that could fall under this category might include landscapers and janitorial service providers. You will need their Social Security numbers or individual taxpayer identification numbers (IDINs) to complete the form.

2. Know your policies and regulations. Know and familiarize yourself with all the AP policies and procedures about establishing and maintaining compliance, Sylvester advises.

3. Keep your knowledge up to date. Study, do research online, and take webinars offered by companies that offer specialized courses in AP so you know how to avoid breaking the domestic and international laws where your company operates and conducts its businesses, Sylvester suggests.

Editors Note: Renown Sylvester, Accredited Payable Specialist at Utilx Corporation (Kent, WA), is a member of IOFMs MemberExchange Advisory Panel. q

PAYMENT PROCESSING

Evaluated Receipt Settlement (ERS) Saves Briggs & Stratton More Than $600,000 a YearBy Al Barrett, AP Manager, Briggs & Stratton

Briggs & Strattons AP staffers were processing so many invoices every day that there was no time to organize, prioritize, or address problems and issues. To keep up with the workload, accounts payable was working overtime and experiencing a great deal of stress and burnout. Not a good situation!

This resulted in high turnover and soaring labor costs. The AP managers and Supervisors time was devoted largely to crisis intervention, training, and monitoring new staff members. Accounts payable was seen by senior management as a costly departmentand a headacherather than a benefit to the company.

External and Internal Customers Lose Faith in APTo make matters even more challenging, AP was encountering numerous customer calls and complaints. Vendors were constantly checking

up on pending payments and pestering AP about overdue payments. In addition, the companys internal customers of AP had little confidence that the accounts payable staff were meeting customer needs. Purchasing was after AP, too, because they said that the late payment issues clouded their contract negotiations.

AP began having meetings regularly to try to understand what was failing. Was it a matter of needing additional staff? Should AP be decentralized? Should the company consider automation as a solution?

Data Analysis Comes to the RescueAfter extensive AP data analysis, the AP manager determined that more than 60 percent of the invoices came from a small number of suppliers. These invoices were related to production materials that matched the goods receipt posting and had a fairly fixed pricing.

Another 25 percent of the invoices were for tool crib



MARCH 2014

items that often matched the invoice. The analysis confirmed that automation would be successful and that goods receipts could actually be used to generate payments. In other words, AP at Briggs & Stratton decided to move to an evaluated receipt settlement system.

First Step: Sell the Idea to Management and Other Departments With Hard DataThe AP manager used metrics, data analysis, and AP data mining to make the case, since the results of the data analysis very clearly identified the companys business volumes, invoice types, invoice posting per employee, and on-time payment statistics. Data mining also provided the foundation for a cost analysis, which helped AP develop a base cost per invoice.

This analysis also allowed AP to recognize:

The volume of posting that could be moved to pay on receipt;

The resources necessary to address priority AP work; and

The potential cost savings associated with pay on receipt program development.

Once the data was presented to senior management, it was relatively easy to make a clear case for the

cost and time savings that could be realized with an evaluated receipt settlement program. The data also pointed to the potential for an improved customer service level.

Second Step: Educate Procurement, Receiving, and Suppliers and Automate Internally

AP proposed to automate internally by using the goods receipt for payment. Over time, this would eliminate more than 50 percent of the incoming invoices.

Training was clearly going to be key. In other words, before moving ahead on this initiative, procurement staff needed to be educated on the importance of PO pricing, urged to take a proactive approach to contract pricing and updates, and made to understand the interrelationship between accurate POs and paying on the goods receipt.

Receiving needed to be educated on the importance of goods receipt posting and the need for entering accurate delivery document Information when posting the goods receipt.

Suppliers needed to be educated on the fact that going forward, the goods receipt would be used to generate their payment.

Advice for Other AP Professionals

Here are some tips from Al Barrett, AP manager at Briggs & Stratton, for ensuring a smooth launch of your evaluated receipt settlement (ERS) process:

Launch your program only after every involved department understands its part. Procurement and receiving must clearly understand the rationale behind the program and what their role in accurate payments and cost savings is.

Educate each new buyer on the program. Institute training about evaluated receipt settlement as part of new buyers' on-boarding program. In addition, periodically reeducate procurement, receiving staff, and the suppliers AR staff on the program.

Demandnot requestsupplier participation. Program participation must be established by procurement as the company standard for all suppliers providing materials and tools with fairly stable pricing.

Monitor daily program postings. Be on the lookout for suspect receiving information (invoice numbers) as well as erroneous receipt quantity/values (excess of norm). If there are incidents of this occurring, rapidly reeducate

failing staff.

Report results to upper management (in procurement

and finance). Submit formal quarterly reports on the ERS

program's progress and issues. Also conduct an open

items statement review for program participants at least

quarterly.

Encourage suppliers to contact AP if or when inaccurate

payments are received. In this way, issues can be addressed

in a timely fashion.

Implement an Advance Shipment Notification (ASN)

program if possible. With this approach, a supplier can

include its own invoice number on its ASN file.

Promote ACH payment for the program suppliers at the

same time. In this way, you can further automate and

eliminate check printing and handling costs.



MARCH 2014

PROCESSES & PROCEDURES

Rules Are Critical to Promoting Efficient ProcessingBy Pam Miller, APMD While many of the rules that AP has put in place may seem silly and even overkill by employees, they have been put in place for good reasons.

The T&E Process Must Comply With IRS StandardsThe Association of Fraud Examiners (ACFE) indicates that the T&E reimbursement area is particularly at risk for fraud. The rules that accounts payable puts in place, while seemingly stringent, are often just barely sufficient from an internal control point of view.

Certain steps must be taken to maintain control and to ensure that the T&E reimbursement process meets the standards of the IRS as an accountable plan. The main requirements of an accountable plan are that there must be a business connection for the expenses, the employee must substantiate the expenses, and

cash advances or overpayments must be returned to the organization promptly.

While T&E processing depends on properly submitted T&E reports, employees are often remiss in turning in all the required receipts. They may neglect to sign the form. Or, their T&E submission may contain incom-plete fields, items outside of policy, or faulty totals. In some cases, the employees supervisor may have neglected to sign off on the T&E report. Or, worse yet, the report may not have even made it to APit is sitting on the supervisors desk.

These types of errors, omissions, or oversights require extra time and effort on the part of the AP staff, re-sulting in delayed reimbursements.

Prompt Payments Require Accurate Invoice Submittal

Suppliers are often on the phone demanding payment

Third Step: Implement the Solution and Analyze the ResultsAfter moving ahead with the evaluated receipt settlement program, AP started seeing the benefits immediately:

Buyers were keeping pricing accurate and were proactively updating after contract negotiations.

The receiving staff was more accurately entering the correct delivery information when posting the goods receipts.

The suppliers were applying payments based on their own delivery document information, which was considered the invoice number when the goods receipt generated the payment.

Much of the data entry was eliminated in APthe staff refocused to address posting as well as timely issues resolution and follow-up.

Contract negotiations no longer included late payment challenges.

Pay on goods receipt became the standard with new materials suppliers.

The AP department began to be viewed as an example of a cost control, cost reduction, and

in-house automation success story.

The Savings in Terms of Cost, Efficiency, and TimeIn FY13, 62 percentor 191,000 paymentswere processed based on goods receipt. AP expects to add an additional 30,000 in FY14. That equates to more than $600,000 a year in AP-related cost savings at a $2.75 processing cost per invoice. The reduced mail handling and invoice imaging accounted for additional savings.

In addition, on-time payment is now guaranteed since goods receipt is triggering the payable within two days of goods receipt. In FY13, AP issued an average of 98 percent of total payments on time.

Accounts payable at Briggs & Stratton is clearly staged for its next great adventuredynamic discounting and perhaps e-invoicing when pay on receipt is not possible!

Editors Note: Al Barrett, APM, is an AP Manager at the Briggs & Stratton Corporation in Wauwatosa, WI. He is a graduate of the IOFM/TAPN Certification Program and has presented at an ASUG conference on the topic of ERS (ASUG is an independent community of SAP users in North America). q



MARCH 2014

before AP has even had a chance to receive and review their invoices. These same suppliers often ignore APs basic rules for invoice submittal and payment.

POs might be lacking even when the supplier has been specifically instructed to include one. Or, in-voices might have been sent to the department or person who ordered the goods or services rather than directly to AP as the suppliers have been instructed.

In other cases, pricing and other errors may appear on suppliers invoices. Some suppliers seem unable to send in even one correct and complete invoice, and of course, it is these suppliers who are the most demanding of a quick turnaround in payment.

The Challenge: What Can AP Do to Improve the Quality of Documents?To begin, AP must ensure that the following par-ties have a copy of the rules that apply to whatever document they submit. In other words:

Travelers need to know the proper procedures for submitting T&E reports;

AP staffers must have the most current rules on hand for submitting check requests and approv-ing invoices; and

Suppliers should be informed of the require-ments for getting paid promptly and for properly submitting their invoices.

Employees who travel need to have the most current rules on hand for submitting T&E reports. Employees who submit check requests and approve invoices need to have the most current rules at their finger-tips for completing these tasks, and suppliers must be supplied with the most current rules for invoice submissionrules that list specifically all the require-ments for getting paid promptly.

While this sounds easy on the surface, in real life AP pro-fessionals know that it is not so easy. Rules often change, so keeping listings current can present a challenge. For employees, the intranet is a handy tool that is perfect for this purpose. As far as suppliers are con-cerned, the first step is maintaining an up-to-date listing of vendor e-mail addresses. This allows AP to communicate changes easily and send reminders about the rules at a minimal expense. Since main-taining such a list can be a challenge, it helps to do an annual mailing to update all suppliers on the rules and thank them for their business. This is also a good opportunity to include a new W9 or ACH form.

Turn Negatives into PositivesTake advantage of each and every opportunity that presents itself to provide training. For example, when a T&E reimbursement is delayed because an error was made, remind the recipient that reimbursement will go more smoothly and be quicker if they remember in future to follow the rule that was not followed. When returning T&E reports or check requests to be corrected, include a copy of the relevant page from the policies and procedures manual.

And when a supplier is on the phone demanding payment, take the opportunity to explain how they can be paid more promptly the next time by fol-lowing the rules. Obtain their e-mail address while you are talking, and send them a copy of the rules as you are speaking.

Never Give Up the ShipA friendly tone of voice, a nonconfrontational atti-tude, persistence, and providing easy access to the rules can go a long way toward ensuring compliance. It may take a while to improve the situation, but by tackling one employee or supplier at a time, youll get them to come around. Of course, for every em-ployee and supplier that is finally trained properly, two new employees or suppliers who dont follow the rules will come on board! q

AP/P2P Leadership Conference, May 19-21, 2014, Grand Floridian Hotel Walt Disney World Resort, Lake Buena Vista, FL.

IOFM's Accounts Payable Conference & ExpoEast, April 6-9, 2014, Hilton Alexandria Mark Center, Alexandria, VA.

Accounts Payable Conference & ExpoWest, October 26-29, 2014, The Mirage Hotel & Casino, Las Vegas, NV.

P2P Leadership Summit, October 27-28, The Mirage Hotel & Casino, Las Vegas, NV.

TAPN/IOFM Accounts Payable Training/Certification ProgramLive Online Video Classes via WebEx.:

Wed., Mar 19, 9:30 a.m.; and Wed., Apr.16, 9:30 a.m.

For information about IOFMs certification program or the upcoming conferences, call Andrew Fitzpatrick, 203-889-4977, or e-mail [email protected].

ACCOUNTS PAYABLE CALENDAR



MARCH 2014

Temp-to-hire can be a win-win strategy for both AP managers looking to fill open positions and the temps who try out for those positions. The hiring strategy allows an AP manager to see how well a candidate performs tasks and fits into the team before being offered a full-time position.

Temp agencies prescreen their temps and test their skill levels, allowing organizations to save thousands of dollars on the costs of recruiting, conducting background checks, training, and overtime.

The temp-to-hire strategy can prove extremely beneficial to job candidates, as well. For example, the TemPositions Group, a New York-based staffing firm, reports that roughly 70 percent of people in temp-to-hire positions ultimately get a permanent job with that company.

Is Temp-to-Hire Common Practice in AP?In order to learn how various AP managers are using this strategy in their organizations, the editors of Managing Accounts Payable asked members of the AP Member Advisory Panel about their use of temp-to-hire. IOFMs panelists were asked: (1) Is temp-to-hire part of your hiring practice in AP? (2) If so, do you let the agency evaluate the candidates or do you evaluate resumes and interview candidates yourself? (3) Do you do background checks on your temp-to-hire candidates?

Five Out of Six Panelists Believe There Are Distinct Advantages to Temp-to-HireMost of this months respondents have had experience with temp-to-hire and have converted successful performers to traditional positions.

For example, at the Briggs & Stratton Corporation, AP Manager Al Barrett reports that temp-to-hire is the norm and standard in his AP Dept. Ive provided an in-depth description of AP associate responsibilities and expectations to the temp service and our HR department. This allows the temp service to sort through many resumes and provide me with only best fit candidate resumes. The AP Supervisor and I independently select candidates from the best-fit resumes and schedule interviews.

The AP Supervisor and I meet with each candidate and ask 37 open-ended questions which are designed to

draw on and test the candidates past AP experience, depth of knowledge, and historic cross-functional involvement, says Barrett. The list of questions have been reviewed and approved by HR and no changes are made to the list without HR agreement.

Only after the temp-to-hire employee has met the same metrics as full-time staff are they offered a full-time position. Temp-to-hire is normally a 90-day test of performance, but if I have a good candidate who just needs a little additional time to get up to speed, I may extend the temp assignment to 120 days, he adds. Background checks are done by the temp service and then again later formally through our HR group as part of the hiring process.

Although Sheila Velazquez, who is AP Manager at RLJ Entertainment Inc., does not use temp-to-hire as a hiring practice, she reports an interesting temp-to-hire experience. A temp came in for an employee who was going out on maternity leave. During training of the temp, I was experiencing performance issues with a newly hired (five months on the job) team lead, she says.After attempting a development plan, the team leads performance continued to decline, says Velazquez. Interestingly, the temp had demonstrated that he was a better performer than the team lead, so when the maternity leave employee returned to work, we let the team lead go and hired the temp as the replacement.

It was great to have had the opportunity to watch him work and evaluate him during his temping status. He was a lucky hire. But I have experienced the other side of temp situations, tooin which I had to keep bringing in new temps because the temps were underperformers, says Velazquez. Thats why I prefer to evaluate the resumes that are submitted by the temp agency myself, and then, after the first screening, conduct the interviews.

Also, I must mention that even though we do not use temp-to-hire in my current organization, I think that temp-to-hire is the way to go. I can speak from experience since I was recently a temp-to-hire myself! That is how I got the opportunity to prove myself to my new employer before being officially made a full-time AP manager, says Velazquez.

IOFMs AP Member Exchange Advisory Panel

Recruiting, Hiring, and Retaining New Employees: Is Temp-to-Hire the Way to Go?



MARCH 2014

One Organization Does Not Officially Use the Temp-to-Hire ApproachWe do not do use the temp-to-hire approach at our organization, says Jerri Painter, accounts payable supervisor at the University of NC Charlotte. We do use temps, but not as a hiring strategy. If I need a temp, I have the choice of using the temp pool set up through HR or going through an agency.

I interview the best three candidates out of a group of applicants and choose the one I think fits the best. Since they are working on a temporary basis, I can let them go if they are not working out, says Painter. However, if the temp is doing really well and a position becomes available, he or she can apply for a position, going through the standard HR hiring practices.

We perform background checks on all temps that we hire out of the temp pool and we ask the agency to perform a background check if we choose to get the temp from an agency, adds Painter.

There are valid reasons why some organizations choose not to utilize the temp-to-hire approach. Some organizations report that it upsets the balance of the department and causes instability among teams, since temps may be seen as a potential threat to long-term workers. Also, these organizations may feel there is an overreliance on agency screening to weed out problem employees.

Narrowing Down the Field: Screening and Background ChecksWe require that anyone assigned through the agency complete a criminal background check, says Pam Buda, AP manager at St. Lukes University Health Network. In addition to the criminal background check, we require a health screening. If we decide to hire the person, they are required to complete our organizations standard application and interview process.

We tell the temp agencies what we are looking for and then, to narrow down the field, we also do our own resume screening of the candidates they present us with, says Linda Rustemis, Senior Manager, Accounts Payable at National Marrow Donor Program and Be The Match. It is worth the investment in time to do thisotherwise the cost can be much higher when you leave it totally up to the agency, she says. After all, the agency cant understand the nuances of the position or the team dynamics that this individual will be working in.

The interview is critical, because if the candidate starts work without having done an interview, and you find some obvious gaps in their abilities in the first couple of days (that you could have discovered in an interview), then all of the time and training used for setting them up are wasted and the progress toward getting that position filled is delayed. This can impact the morale and productivity of the team, says Rustemis.

Once we select the temp, our HR department requires a background check. This is required for everyone before they start, including temps, she adds.

Temp-to-Hire Can Be Used in a Pinch During a TransitionDuring a recent AP transition and restructuring, at least three-quarters of our new hires were temporary employees, says Michelle Lynch, BancTec Administrator at Christus Health. Our standard process, however, is to post our open positions on our website and/or hold hiring events to fill positions.

In these cases, the HR department performs all necessary background checks and then sets up interviews, she says. But for hiring during the transition, we had the agency send us the resumes and we interviewed the candidates ourselves. Once we decided to offer the associate a full-time position, we did background checks.

Temp-to-Hire Can Be a Win-Win SituationIOFMs Education Director Pam Miller offers this advice for AP managers considering temp-to-hire: The end goal in any professional relationship is the perfect match. Temp-to-hire employment is a wonderful opportunity for both the temp and your organization. It gives the employee time to shine, and it gives both parties time to decide if the position is a good fit. q

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10

MANAGING ACCOUNTS PAYABLE


MARCH 2014

Joni Geurts had worked in marketing at JetBlue Airways (Salt Lake City) for more than eight years when she was asked to move into finance and manage the accounts payable department for the 14,000-employee company.

AP had been suffering from poor morale and productivity, and management believed that her communication skills and enthusiasm would help turn the department around. The decision turned out to be good one, because within a year Geurts had the AP team setting performance records.

For example, when Geurts first started in her new position, she noticed that AP was not capturing available discounts. She set a goal for them to capture half a million dollars worth of discounts in the first year and they exceeded that goal. In fact, the AP team was able to capture $1.6 million in discounts in 2013.

How to Keep the Team PsychedIt can be challenging to keep your AP team motivated, but you can do it if you understand their daily tasks, ask their opinions, and listen to their concerns, says Geurts. Focus on areas of opportunity and let your team provide input to correct the situation. Give them ownership to keep them engaged. Take time to appreciate your team, and above all, have fun with them!

Here are the strategies that Geurts used to successfully improve the way AP workedand the way AP people feel about their work:

1. Elicit feedback from AP staff. I did anonymous surveys to find out how employees thought things were working and how they wanted the department to work, says Geurts. I got a lot of feedbackand AP staff really appreciated having a voice instead of someone coming in and telling them how things were going to work.

2. Pinpoint the main pain points. I saw that my biggest challenge would be to reorganize pay-ables, says Geurts. Previously accounts had been set up alphabetically. This wasnt fair because some staff were getting the bulk of the work. For example, because we did business with so many vendors that served the airline industry, a lot of

the accounts started with A for air.

3. Implement employee suggestions. We changed the alphabetical system of dividing up accounts. Now accounts are divided into the following groups: Southwest Region, Northeast Region, Corporate Real Estate, Aircraft Repairs, Aircraft Purchase, and Foreign Accounts. We also have a bilingual team for handling in-voices in other languages, Geurts points out. By having accounts set up this way, people in AP can focus on establishing strong relationships with general managers at the airports, our internal business partners, notes Geurts. In addition, we have gone from having telephones ringing non-stop daily with questions about invoice payments to ringing only a couple times a day, says Geurts.

4. Get support from HR. Geurts had an organiza-tional effectiveness team from HR come in to help with the reorganization. This was very helpful, and I valued their advice and suggestions, says Geurts.

5. Hold monthly team meetings. We have monthly luncheon meetings to discuss how things are going in AP and to celebrate our suc-cesses. Sometimes we have the meetings catered, sometimes they are potluck, and other times we go out as a group. The staff really appreciates this, says Geurts.

6. Get out of the office and interact with staff. One of the most important ways I keep things going smoothly is to get out of my office many times throughout the day to interact with my staff to see how everyone is doing, Geurts explains.

7. Mix things up. To keep work fresh and interest-ing for AP staffers, Geurts cross-trains them, gets them involved in other projects, and moves them from one account type to another on about a quarterly basis. Purchase orders for airplane repairs and parts are very different from POs for food and drink, she points out. I give my people the confidence to try new things. At first some were worried about doing something different,

STAFF MANAGEMENT

10 Tips for Achieving Greater Productivity and Better Morale in AP

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MARCH 2014

Nina Ivanovski, APS, Accounting Specialist II at Affiliates Management Company (Clive, IA) has the following tips for success for other AP professionals who are implementing an automation project:

Conduct considerable testing prior to going live to identify potential glitches.

Map out a training schedule and provide follow-up training on a regular basis.

Perform AP audits on a regular basis to make sure invoices are being routed properly by system users.

Most important, send out information regularly, schedule meetings, provide users with plenty of tips and tricks on the intranet or via e-mail, and follow up, she stresses. Also, be helpful even during negative times. By remaining positive, you will help the transition go more smoothly.

Looking back at the workflow and invoice processing automation implementation at her company, she believes the process went smoothly.

Affiliate Management Companys Route to a Paperless ProcessPrior to implementation, AP was having recurring problems with missing receipts, lost paperwork, and lost invoices.

Invoices were not coming to our department and were being delivered to other areas, Ivanovski explains. In addition, they were not being paid on time. We were doing a lot of accruals and missing out on discounts.

We began looking for ways to save money by becoming more automated, Ivanovski says. We were determined to streamline our workflow, become more efficient, and eventually become paperless.

AP set up an automation project team consisting of the accounting manager, the AP manager, various department managers, and administrative assistants.

To get management buy-in, we did a case study with metrics to show the projected savings that automation would bring, says Ivanovski. We also talked up the project to our internal customers in the company and explained what we had in mind. Most said they would prefer an automated system to our current manual system. In order to demonstrate to management that we needed to become automated, we benchmarked our competitors in the industry and told them what we had learned; most of our competitors were already automated. So in order to remain competitive, we would need to automate as well.

Planning and More PlanningAP and the team worked with each department to understand their needs and map their workflow processes. We also asked questions to determine who would be the users of the new system, says Ivanovski.

In addition, we sent out letters to our vendors informing them we were instituting a new system. We advised them that going forward, they would need to send all their invoices directly to the AP department, preferably electronically. We also asked managers to request that their

AUTOMATION & TECHNOLOGY

Tips for a Successful Automation Project in AP

but now they all like being able to work with different types of accounts and invoices.

8. Automate processes. We implemented ac-counts payable automation in every way pos-sible, which has made operations much more efficient and helped everyones productivity, says Geurts.

9. Change the e-mail boxes. Instead of each AP staff member having an individual e-mail ad-dress, we now have a PO box and a non-PO box. That way, the electronic invoices that come in via e-mail are accessible to everyone, and we can respond more quickly when someone is out or has switched jobs, explains Geurts.

10. Reward good work. To recognize the AP team for their efforts in capturing discounts, Geurts took the entire staff on a trip to Disneyland. This made sense because JetBlue is an airline, she says. I advise other AP managers to find creative ways to use the resources they have to reward their people.

Positive Results

The AP staff has become a very solid team, reports Geurts. They work very well together, and there is no animosity. They have even become good friends and socialize together after work. I have been getting feedback that they now love to come to work every dayand that is a huge positive. q

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MARCH 2014

vendors start sending invoices to the AP department, she says.

We researched different AP automation vendors that we heard about from other companies, and those that we met at conferences or found online. We did live webinars with vendors and narrowed down the list to two vendors that met our needs. We compared the costs of each vendor and presented our findings to our high volume users, says Ivanovski.

When we selected the vendor we thought was the best fit, we made a presentation to upper management and asked for their approval. We did all this pre-budget planning time, with the hopes that our automation project would be included in the budget. From that point on, it became a waiting game, she notes.

Approved! On to Testing, Training, and Amazing ResultsOnce our project was approved and the needed funds had been allocated, we designed a project management plan that spanned from the beginning of the implementation to the end, says Ivanovski. We did a lot of testing and live web training sessions that we put online so people could always go back if they needed more training. It took eight months for us to go live.

Once live, the AP department achieved the following

positive results almost immediately:

More efficient workflow. No more need to track down people to get approval

signatures.

Increased visibility for accruals. Elimination of manual invoices entering the system. Better routing of invoices. More invoices being e-mailed rather than sent via

postal mail.

No paper handling and easier access to records. Despite some minor glitches during the testing process, The Affiliates Management Company saw huge benefits from automating their AP workflow and invoicing process. It was well-worth the long journey, says Ivanovski. One especially welcomed bonus was the fact that we get far fewer phone calls from internal customers questioning where invoices are in the process or whether an invoice had been paid, says Ivanovski. Users are able to see that for themselves by logging into the system.

Editors Note: Nina Ivanovski, APS, is Accounting Specialist II at Affiliates Management Company (Clive, IA), a wholly owned company of the Iowa Credit Union League. She has been in her current job for four years. There are 250 employees at the companys one location, four in AP. q

INTERNAL CONTROLS

Spoiled Checks, Like Spoiled Children, Are Best Avoided Sometimes, in spite of the best controls and intentions, checks are spoiled. For example, the printer runs out of toner or starts crunching up the check stock in the rollers. Or the wrong routing and account numbers are printed because someone chooses the wrong bank. Or someone accidentally reprints the entire batch because someone else didnt close out the check run.

Spoiled Checks Can Wreak HavocSpoiled checks are nothing to fool with. A fraudster within the organization could get his or her hands on a spoiled check that is not properly destroyed and attempt to cash it. Furthermore, the process for reprinting spoiled checks offers the opportunity for two checks with the same number to be issued. Have a policy in place to deal with the issue of spoiled checks. Obviously, the spoiled checks must be destroyed (that means running them through a shredder) and the control check numbers

must be noted in the log as destroyed. That way, you can make certain that no checks have been overlooked and that no one gets hold of the check to try to cash it.

If you are not using or recording control numbers, its a good idea to familiarize yourself with them. Each sheet of check stock has a control number that is different from the check number your financial or check printing system assigns to each check. Usually these numbers are printed on the reverse side. As checks are used, both this number and the actual check numbers should be logged.

Monitor the Reprint ProcessPossibly the most dangerous part of the process is the reprint. Only the checks that were spoiled should be reprintednot the entire check run (unless, of course the entire run was spoiled). Have two people involved in the reprint process so that you can be sure that the correct check numbers are entered into the system to reprint.

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MARCH 2014

AP professionals clearly understand that organizations can achieve substantial cost savings when they shift transactions to p-cards. This is borne out by a recent p-card survey conducted by IOFM in which 73 percent of respondents ranked reduction of AP processing costs as the number one ranked benefit of a p-card program.

Yet approximately 40 percent of IOFMs respondents answered I dont know when asked how much it costs their organizations to process a P2P transaction. This could reflect the fact that many organizations have simply not calculated what it costs them to process an AP transaction. Or, it may be that these respondents are just not in possession of that information.

To offer some benchmarks in this area, IOFM reveals the responses of those organizations that did have cost information available. Of that group, 43 percent place their p-card transaction costs at $10 or less, and 53 percent place these costs at $25 or less (see exhibit).

In analyzing p-card costs in comparison with POs, just 18 percent say the cost of a procure-to-pay (P2P) transaction that relies on a purchase order is $10 or less, while only 35 percent place this cost at $25 or less.

The bottom line. The savings in shifting transac-tions from POs to p-cards is real. It represents a major advantage to using p-cards to complete transactions. q

PURCHASING CARDS

Do You Know How Much It Costs to Process a P-Card Transaction?

Cost of a Procure-to-PayTransaction With and Without a P-Card

Without a p-card With a p-card

Less than $5 6.7% 31.5%

$6 to $10 11.2 11.8

$11 to $15 6.7 3.9

$16 to $20 4.5 2.2

$21 to $25 5.6 3.4

$26 to $49 7.9 4.5

$50 to $75 12.4 0.0

$76 to $100 0.0 0.0

Greater than $100 5.6 1.7

Don't know 39.3 41.0

(Source: IOFM)

Also, as mentioned, be sure to indicate in the log the check numbers that were spoiled, destroyed, and reprintedjust in case an accident happens and a duplicate check is presented at your bank. Recording this information can help untangle this kind of problem.

What If Your System Doesnt Allow Reprints?In some ways, the inability to reprint a spoiled check is a positive thing, since it means that there is less

likelihood that two checks with the same numbers might be produced and sent out. If your system doesnt allow reprints, your policy should indicate that all the check numbers created in that run be voided, and a new check run started. Just be sure, in this case, that you have taken all the required steps to void or invalidate the spoiled check numbers. You dont want to leave those numbers in an open or uncashed state in the system. q

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MARCH 2014

NEWS BRIEFS

CAN WE TALK? FOUR TIPS ON HOW TO DELIV-ER TOUGH NEWS

Delivering bad news isnt pleasant, but at times its necessary. Even the most seasoned AP managers can go to great lengths to avoid doing it. For example, you might tolerate sloppy invoicing from a longstanding vendor rather than confronting the vendor or suggesting that the contract be awarded to another supplier. Or maybe you make excuses to avoid firing an underperforming employee. Whatever the situation, youve probably hung around with a problematic situation longer than you should have.

Delays can buy a reprieve, but they dont improve the situation. The underlying problem gets worse, according to Communication expert Geoffrey Tumlin, president of On-Demand Leadership. Delivering bad news is an essential skill, even if it wont win you any popularity contests, says Tumlin. Dealing with issues promptly and decisively can save you time, energy, and even moneynot to mention all the mental anguish you feel while putting off a difficult conversation. Tumlin offers the following tips on the art of delivering bad news:

1. Get to the core of the matter. Your core message is obvious when youre giving bad news: Its the thing you most dont want to say, says Tumlin. Your core message might be, We need to switch vendors, or We have to let you go.

2. Stick to your guns. You dont do yourself or the other person any favors by putting off a hard conversation, says Tumlin. Remember, when giving bad news, youre not negotiating, fact finding, or gathering input. Bad news is like taking off a Band-Aidits best done quickly.

3. Explain yourself (but not too much). Make sure that the other party understands your bad news message and doesnt walk away with the wrong impression. State your core message and explanationthe reason behind the messagein one sentence, instructs Tumlin.

4. End the conversation. If youve communicated your core message, and the other person understands, think about an exit strategy. Address any obvious questions, but be wary of answering too many speculative or probing questions.

A great deal of unnecessary damage is often done when you overstay a difficult conversation, says Tumlin. You might end by giving up ground you hadnt intended to, talking about topics that are better left unaddressed, or escalating the conversation to the point of hostility.

When its time to deliver bad news, dont allow yourself to get pushed off of your core message, he advises. Its a simple formula: Be clear, be concise, and be gone!

HUSBAND AND WIFE DUO CLEAN OUT FIRE DEPARTMENT FUNDS

A recent news release reveals another case of so-called "honest and trustworthy" personnel committing fraud when proper controls were not put in place. In this case, the chief fraudster was a part-time AP clerk who was well known in her community as a member of the local board of education.

She worked at the fire district for four years and has been accused of redirecting $350,000 of the district's money to a personal bank account. Her husband, who collaborated with the clerk on the embezzlement, was a highly respected deputy fire chief.

The investigation began in early 2013, when the local police department was notified of missing funds from the fire protection district. Investigators found that the clerk had devised a method of manipulating the districts payroll and accounts payable accounting systems, which allowed the clerk to prepare false payroll reports, false monthly accounting reports, and false financial statements. Routine annual audits did not detect any inconsistencies because the systems had been corrupted and false reports were being generated.

It was discovered that payroll and vendor payments were being direct deposited into a personal joint bank account that the clerk shared with her husband. The couple lived extravagantly and spent $41,700 on clothing, $57,200 on food, $62,600 on entertainment, and $186,273 on other bills from 2009 to 2012. They also incurred significant debt on numerous credit cards.

The husband and wife were each charged with felony theft of government property over $100,000. In a type of statement that is not unusual in such situations, the fire district released a statement noting that the department was "stunned and saddened that someone who was put in a position of the public trust

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MARCH 2014

NEWS BRIEFS

would violate that trust."

The moral to the story is this: A strong internal control structure is the foundation of a strong AP department. Write clear policies, segregate duties, periodically review system access, require system security, install safeguards, do independent checks, and monitor AP clearing accounts. Most important, don't blindly trust any employee!

EIGHT STRATEGIES TO HELP YOU SAY 'NO' TO TRAVEL ADVANCES

If your organization is still issuing travel advances, it is definitely time to end the practice. Corporate card programs are commonplace, and issuing cash advances could simply be a legacy process whose time should come to an end. "For these reasons, travel advances should be eliminated or slashed to the bone," reports IOFM educational director Pam Miller.

Here are some tips from IOFM's Complete Guide to AP Best Practices to help you ease out of advances:

1. Improve your T&E reimbursement process. To soften the blow of your no-travel-advances policy, make it a point to issue reimbursements faster. Also, institute direct deposit to increase the speed of reimbursements.

2. Mandate the use of a travel card. Implementing a corporate travel card program can help to rein in cash advances. If travelers still need a cash advance, some corporate card programs allow the use of ATMs. If you do so, be sure that there are airtight controls in place for access cashing.

3. Limit advance amounts. Set maximum dollar amounts that employees can obtain.

4. Do not allow advances to "roll over." Require that an expense report be completed and all open advances be settled monthly. Do not increase the amount of cash advanced to an individual until open amounts have been settled.

5. Dont use cash. Issue advances by check or an electronic (automated clearinghouse [ACH]) credit. Giving cash advances in the form of cash is rife with procedural issues and can lead to abuses.

6. Track travel advances carefully. Be aware of who has been advanced how much at any given time. This will help avoid situations where a travelers

advance balance grows alarmingly highso high that he or she would have difficulty paying it back.

7. Require a written agreement regarding cash advances. Develop an agreement to be signed by employees prior to receiving a cash advance in which they agree to the repayment terms. If necessary, ask the legal department or HR to help design this agreement.

8. Make provisions for payroll deduction. If cash advances are not returned after many attempts at collection, it should be standard practice to deduct outstanding amounts from payroll. Make sure you have the employee grant permission to do so in writing prior to receiving the first advance.

VENDOR PORTALS: THE BENEFITS ARE RIPE FOR THE PICKING

Are you plagued with telephone calls from vendors who want to babysit their invoices? How many times a day are you asked, Did you receive my invoice? or At what stage is my invoice in your process?"

Before you indulge such "pesky vendor" behavior, consider this: The problem may be less about your vendors than it is about your manual, paper-clogged system. "Extended processing times can prompt your vendors to 'reach out and touch' AP as they look for answers regarding their invoice status," says Jeff Chandler, blogging for Prodagio.

Automation, and ultimately vendor portals, have been an answer for many companies, since they provide a means for vendors to check on their invoices without having to involve AP. With a portal, as soon as the invoice is received, scanned, and indexed, the vendor is able to access the data via the vendor portal. "The vendor can begin their inquiry and follow the invoice through the process," says Chandler. "Vendor portals should include your payment informationsuch as check number and check dateand offer a way for the vendor to communicate back to you and ask questions if the provided electronic information doesnt satisfy them."

"In more advanced scenarios, many companies allow electronic submission of vendor invoices via the portal, and also purchase order flip (flipping the PO AP provides to them into an invoice, assuming all requirements were met)," says Chandler q

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