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The eight benefits of a P-card :
Savings on transaction costs. $90 per transaction via a traditional, paper-based purchase order process to $20 for a transaction via P-card*
Process simplification. 3 approvals for a $2,000 payment in a traditional PO system, to 1.4 approvals for a p-card transaction*
Increased working capital. A typical p-card transaction provides 29 days of float
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Introduce a purchasing card (P-card)
An extract from 50+ Ways To Improve Accounts Payable – Toolkit (70 page Whitepaper + e-templates)
The large study, already mentioned, states that the average cost of the whole purchase cycle has been estimated at $90 per transaction. This is pretty horrific when you realize that a high portion of your transactions are […]
By David Parmenter
I have developed a toolkit to help AP teams optimize their AP. The toolkit is a 70 page document with accompanying electronic media to help you get started. It covers the following strategies (the number in brackets are the better practice s to adopt).
Accounts payable systems improvements easy steps (7)
Accounts payable systems improvements more […]
I have developed a toolkit to help AP teams optimize their AP. The toolkit is a 70 page document with accompanying electronic media to help you get started. It covers the following strategies (the number in brackets are the better practice s to adopt).
Accounts payable systems improvements easy steps (7)
Accounts payable systems improvements more integrated […]
When you AP is behind the 8-ball you need some simple steps to free up time:
close off accounts payable on the last working day of the month
limit budget holders’ accruals to material amounts only e.g. no accrual JV for less than $____, no one item on the accrual for less than $____
cease […]
I have developed a toolkit to help AP teams optimize their AP. The toolkit is a 70 page document with accompanying electronic media to help you get started. It covers the following strategies (the number in brackets are the required better practice steps).
Accounts payable systems improvements easy steps (7)
Accounts payable systems improvements more […]
I have developed a toolkit to help AP teams optimize their AP. The toolkit is a 70 page document with accompanying electronic media to help you get started. It covers the following strategies (the number in brackets are the required practices).
Accounts payable systems improvements easy steps (7)
Accounts payable systems improvements more integrated steps (3)
Administration improvements […]
By David Parmenter
I have developed a toolkit to help AP teams optimize their AP. The toolkit is a 70 page document with accompanying electronic media to help you get started. It covers the following strategies (the number in brackets are the better practices to adopt).
Accounts payable systems improvements-easy steps (7)
Accounts payable systems improvements-more integrated […]
By David Parmenter
Reports should be designed to encourage action to take place, on a timely basis, in the right direction. They need to:
be a combination of daily/weekly/monthly reporting
be prompt – within 3 working days is better practice from month-end, next day for daily reports
be planned so they are structured with the reader’s […]
By David Parmenter
Board packs are too big.
Board packs are not prepared on a timely basis – board meetings should be within 10 working days of the period end.
Too many board packs – because their are too many board meetings, 6 to 8 should suffice
Board packs lack a board dashboard that gives […]
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