KISS applies to Accounts Payable

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Accounts payable is not rocket science. However complexities in the process seem to be common place.  Complexities cost mucho time and effort ultimately taking a big bite out of the bottom-line.

Most organizations payables processes grow organically or through acquisition along with the needs of the business. Over time, with added volume and locations, those processes often become cumbersome and unmanageable.  By this time, they review their options and either turn to a pricey accounting system upgrade or live with the current setup.  It’s up for debate on which ultimately costs more, however it’s usually the later as resistance to change is generally the road most travelled.

Let’s take another look at these home grown complexities. The belief that each company runs their ap differently “we are unique” is standard fair amongst operations. Sure there is uniqueness to industries, or how business is conducted. But the objective and outcomes are always the same, place an order, receive a bill, code and approve it, and pay it.  Really companies are running the same process in slightly different and mostly manual ways.

When the Ford model T was introduced to world through standardized production, it made a huge amount of sense and continues to be a massive factor in everything we serve and produce today.  Are the benefits of standardization not available to the ap process? If the objectives are the same, and the outcome is the same, why are businesses not looking to standardize and take advantage of the same efficiencies and economies.

Truth is most are not… yet. Most companies are not in the accounting business, nor should they be. It’s a necessary evil. They don’t have time to focus in on process improvement while running their business.

Incorporating accounting best practices right from company inception is ideal but hardly realistic, at least not until recently.  Today, there are solutions that expand the functionality of conventional accounting applications and many of them are web-based and affordable to the small and medium sized businesses.  These solutions offer built-in best practices to help businesses with compliance and efficiency to allow them to concentrating on the core competencies of the business rather than the paperwork involved with running the business.

Creating efficiencies on your own, without the expertise and tools is impossible. Standardizing and incorporating best practices right from company inception is ideal but hardly realistic, at least not until recently. Today, there are solutions that expand the functionality of conventional accounting applications. Many of them are web-based and affordable to the small and medium sized businesses. These solutions offer built-in best practices which help standardize processing, boost efficiency, and focus businesses on their core instead of the time consuming paperwork that surrounds their core.

Standardization is becoming essential to create efficiencies in business process. As my beloved marketing prof repeatedly broadcasted, "KISS, Keep It Simple Stupid" in other words don't get caught up in the complex when there are proven simple ways to process your ap.

Kick some serious… with ScanSnap Scanners

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If you're thinking of scanning all your documents and getting more paperless, and looking for a scanner, read this. We recommend the Fujitsu ScanSnap to all our customers who are now big fans and can't live without them.

Here's why;
• They're small and compact and fit neatly on a desk. No more time wasted walking to the central copier to scan.
• Scans straight to pdf, even if adobe acrobat the application isn't open.
• Software included is easy to setup and use. You can save scanning profiles for particular projects and decide where all the files should be saved, ie on a network drive on a directory. There's even a direct to email profile which will open an email with a pdf attached, with one scan button push.
• It does a great job with color as well as black and white.
• It scans both sides, with a high resolution at a speedy 18 pages per minute. Auto-deletes blank pages for you. Great for docs that have info on both sides.
• It auto-detects different size pages. Does good job with those pesky little restaurant or retail receipts.
• They have models for both mac and pc.
• They're reliable and not too costly, two models approx:
    o 310 - $275
    o 510 - $400
• The only real difference between the models is scan speed and their size. All the software is the same. All said it's worth the extra buying the 510.
• It includes the latest version of adobe acrobat free ($200+ in value).

A few negatives are;

• The scanner needs a dedicated pc or mac. So if it's shared you need to either connect it to a computer no one is using, or hardly using, or the person doesn't mind their machine being used to scan once in a while.
• They're not widely available at the big box stores, Staples or Office depot, Best Buy... Best bet is to buy one online.
• Finally, I'd say it's what to do with the scans after you scan them that's challenging, but that's for another blog.

Lets us know if you have one, or bought one and like it, or have something to say. If there's another scanner out there that rumbles your hamburger, we want to know about it.