AP Now Survey Pinpoints Top 10 April 2009

Inside this issue:

AP Strategies to Improve Profitability

S Publisher’s Letter
3. Eliminating or reducing salary 2
lightly fewer than 85% of Ac- increases
counts Payable Now & Tomorrow’s A 7 Step Plan to 3

readers recently surveyed report 4. Taking all early payment dis- Cut T&E Fraud
that their organizations have counts
Risk Outlook: 5
taken steps to tighten their belts
5. Rigorously employing dupli- Economy Down,
in response to the current eco-
cate payment checking routines Fraud Up
nomic crisis. And accounts pay-
able is contributing to the effort. 6. Establishing stricter Travel & AP 101: Segrega- 7
Entertainment guidelines and re- tion of Duties
The Top Ten
views
While some are what you might Eliminate These 9
7. Aggressively pursuing vendor 12 Really Bad
expect, a number of the strate-
credits AP Practices
gies being used are never consid-
ered by management when look- 8. Reviewing all discretionary Sleeper Issue: 10
ing to bolster the bottom line. spending Gov. Contractor
(See the table on page 16 & 17.) Withholding
Here’s the “AP Contributes” Top 9. E l i m i n a t i n g d i s c r e t i o n a r y
10 List. Fraud Prevention: 11
Purchase entire newsletter to Simple Solution to
1. Staff reductions
read the complete article. Stop New Threat
2. Stretching payment terms
Instructions on next page. AP Staffing & 15
Salaries in a Weak
Hot Topic: AP Now on Job Rotation and Man- Economy
datory Vacation Policies
Strategies to Pro- 16

I n recent months, the issues of

mandatory vacation policies as
assumed it would be a fairly easy
task. We were wrong. We had
hoped to be able to quickly discover
tect Bottom Line

Tips, Tactics & 18

well as job rotation have gained
greater visibility. This is due to
the recognition that these are
two of the least expensive and
most effective ways to prevent
internal fraud. When we began
putting this article together we
policies that addressed mandatory Strategies
vacations and job rotation. But
finding the information proved
daunting and in the end, after talk- Accounts
ing with several experts, we got to
work and created these guidelines Payable in
Continued on page 12 Tight Times
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Detecting and Preventing Duplicate Payments June 25

Upcoming Webinar Schedule
http://www.ap-now.com/findduplicatepayments.html
June 11: Accounts Payable Best
Practices 2009—Not Always What
They Were Two Years Ago!
Accounts Payable
July 23: Proposed Penalty Notice Now & Tomorrow
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July 30: Fraud Prevention and De-

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Sept. 17:Unclaimed Property: What

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