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Keep Your AP New Year's Resolution
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It's the time of year again where organizations decide to shed those unwanted business practices like last year's calendar. For accounts payable departments, maybe it is finally time to automate.
This issue features resources that should allow you to keep your process improvement resolutions. In addition, you might also want to consider reviewing your employee classification procedures this year.
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| Patrick Harbin – Editor
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Employee Classification |
The Department of Labor has a new year's resolution of its own. Starting in 2011, they plan to crack down on organizations incorrectly classifying employees as independent contractors.
See Department of Labor has "Strategic Plan" to Fight Employee Classification on TAPC.
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Improving ROI |
A key challenge when automating your AP department is justifying the cost. The time it takes to earn a return on your investment is often a deciding factor when gaining support. Here are some tips for earning a swift ROI:
- Train effectively: Ensure each employee that interacts with the technology understands how to use it
- Implement multiple technologies: An organization can grow its ROI if it combines multiple technologies in the implementation. However, this increases the initial cost
- Consider on-demand AP software: On-demand technology has a lower upfront cost than on-premises
For more on implementing AP technology while watching your costs, be sure to sign up for the upcoming, no-cost TAPC webinar, Transform the AP Process Now: Go Paperless and Maximize ROI with AP Automation, featuring Judy Bicking, AP consultant, and Sushmitha Koka with ADP. Earns 1 CEU.
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Just for Fun! |
Do people sabotage themselves when it comes to fulfilling our New Year's resolutions? From a biological perspective, the answer is a surprising "yes." See New Year's Resolutions? Brain Can Sabotage Success.
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