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May I Ask You a Question?
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A lot of requests are made of accounts payable departments. "Could you break this invoice down for me?" "Can you put a rush on that check?" "Explain why we overpaid this invoice?"
Knowing which requests can easily be accommodated without sacrificing efficiency is a key payables skill. For instance, if you're frequently asked to break down telecom invoices, perhaps you should outsource the function. As for rush checks, avoid whenever possible. |
| Patrick Harbin – Editor
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Outsourcing Telecom |
Outsourcing payables doesn't always mean sending the entire process out-of-house. Many AP departments keep vendor payment in house while outsourcing more specialized functions.
Telecommunications expense management is a commonly outsourced AP function. The benefits of outsourcing telecom expenses include:
- Not having to sift through the high volume of telecom bills
- Reduced likelihood of overcharging because each bill is audited
- Detailed summaries of all telecom expenses, including fees for 800 service, taxes, and local charges
Outsourcing individual functions within AP is a way for departments to focus more attention on the core payables process. For more on outsourcing in AP, don't miss tomorrow's audio conference, Outsourcing AP Functions: Boon or Bane?, featuring Phil Binkow, CEO of Financial Operations Networks.
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| What's New With Nichols? |
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Tom has seen pretty much everything there is to see in AP, both the good and the bad. To help AP departments deal with the bad, his next series of posts will each address a particular "Pain Point" in AP. Go to Pain Points: Rush Checks.
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Just for Fun! |
There's nothing more beautiful than a bride on her wedding day. What if the bride is a disfigured zombie? The jury's still out on that one.
Check out 8 Very Different Weddings to Remember, for photos and descriptions of some truly off-the-wall weddings. People do the strangest things for love.
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