This week was spent with a few hundred of my closest Accounts Payable friends at IAPP’s Fusion conference. Here are a few things I learned:
- IAPP is no longer called IAPP – They are now IFO – Institute of Financial Operations.
- Little things make big differences – Story Mustgrave (Keynote Speaker)
- A company can be automated since 1993 – I had a wonderful conversation with a group that have a shared services center (in the food industry). They have been automated since 1993. They say it has changed over the years and a few of the break out sessions they attended they could have taught, but all in all they claim there is still room for improvement as technology improves.
- You can do European electronic payments from the US without setting up accounts in each of the countries.
- There are a lot of companies that do AP Automation that do exact same thing yet claim to be different.
- The staff at IFO is really, really, really organized and hold great conferences!
- P2P is the next buzz word – brace yourself
- Being balanced is over rated.
- Automation is a worldwide hot topic
- (And – Drum Roll) The 8 Pitfalls is a huge hit (phew) – I have had a tremendous amount of conversations with people who don’t know where to start – don’t know how to build an internal case and don’t have the money to hire a consulting firm to help them… that is why I wrote the book. A few bullets up I mentioned there were a lot of AP Automation companies that do the same thing but say they are different. There is a challenge that is being created as the middle market starts to adopt AP Automation and they look to a few service providers for demos. Once the demos are done they are more confused by what they want/need than when they started. Now that the book is in the hands of many of people who believe they need the type of information the book has – the next is to see if the information will translate to a straighter and easier course for mid-market companies and automation. Stay tuned!
To get your copy of The 8 Pitfalls of Accounts Payable Automation – click here to buy.
For more information go to www.newwayap.com