Topic: Chicago (Suburban), IL

Subject: Accounts Payable "Benchmarking"
David Turner
Member: 2014
Posts:2
Submitted on 09-23-14 8:46 am
Message:
I am seeking an opportunity to visit the AP department of a couple organizations, along with my own AP Manager, to view the processes and/or tools you have implemented to bring greater efficiency to your AP processes. We have a centralized AP department, with facility operations dispersed throughout multiple states, so an organization with similar structure would be most beneficial.

I joined my current organization just over 2 years ago. There are major opportunities within the Accounts Payable department, which I have not yet addressed, as a result of higher priorities. But it's now time. Although I know where we need to go, more automation, less paper, greater efficiency, I would be interested in seeing what that looks like in a couple of your organizations. I would come with my AP Manager and I'm hoping for a maybe 2 hours (...or whatever you can spare. I don't want to burden your own teams.) to see your AP processing and the tools/systems in place. I can cast the vision but it would help me to show my team HOW it can be accomplished and address some of the apprehension.

I can be flexible on timing, as I sincerely appreciate any and all assistance.

Please feel free to respond here, or to contact me directly:

David A Turner, MSA CPA
Chief Financial Officer
East Lake Management & Development Corp
2850 S Michigan Ave
Chicago, IL 60616
Direct: (312) 949-3145

THANKS IN ADVANCE!
 
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Replies
Brandon Windham
Member: 2014
Posts: 3

Subject: Re:Accounts Payable "Benchmarking"

Submitted on 01-20-15 12:47 pm.
Message:
Hi David,
I was looking at some old postings and saw this. Have you considered a "Pay From Receipt" or "Evaluated Receipts" process? It requires high integrity purchase orders and receiving process but eliminates the vendor sending an invoice because everything you need to pay is in the P.O. and receipt. The actual payment is scheduled based on the P.O. terms. It can't be used in every situation but I have seen it save a lot of process time.

Let me know if you'd like to discuss it.

Brandon Windham
bwindham@chicagobooth.edu
 
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