Human Resource Services, Inc.
Assessment, Recruitment, Team Development & Beyond!

HR Power From Our Team To Yours!

Subscribe to Newsletter!

Complimentary Desktop Resources:                              Policies/Practices                                Team/Leader Development                     Compensation/Benefits                        Risk Management                           Research Links                          Newsletter Archive                          Humor  

HRS QuickTips:  Critical Purchasing & Accounts Payable Team Strategies!

In a post-recession recovery where "Creative Billing" surpasses the norm, employers must involve the HR effort to strengthen the safeguards on corporate payouts. Overbilling, although in practice by a minority of vendors, has become more significant a threat to corporate profit. Demand continues to rise for increased accounts payable training and performance incentives.

 

Immediately bypassing the arguments of vendor ethics, customer service and the long term potential of firms who elevate revenue and profit only through false billing, let’s look to the 3-step action plan.

1. Review job descriptions, assessments and performance measurements for your teams to ensure the comprehensive approval of invoices, with specific concern to double billing, vendor miscalculation and creative alteration of fee structures.

2. Provide heightened training, supervision and "go to" resources for your teams.

3. Provide performance incentives that reward individuals for safeguarding financial assets. (Remember it doesn’t hurt to spend someone else’s money.)

Undoubtedly, significant corporate growth and rebuild is due, and as corporations reinstate greater expenditures, accounts payable tasks will suffer growing pains, potential loss of supervisor visibility and increased delegation. To impose the heightened safeguards now will ease the burden of human capital allocation later.

 

Although "Creative billing" remains a far less popular practice than the more successful practice of safeguarding customer cash flow, reported incidents have increased. "Creative billing" would not continue if employers would disallow its success.  New and longstanding validated assessments for accounts payable team hiring and training specific to these timely needs are also available through HRS.

 

 

 

Subscribe to Newsletter                    Shop Our  Affiliate Sponsor Mall                      Privacy                   Legal                       Propose Partnership/Link

Copyright © 1983 - 2004