What steps are you taking to advance your career in 2013?

We live in a time of automated technology, outsourcing, and companies looking to increase efficiencies. It has become more and more dangerous to keep your head down on the job. Being a hard worker is an admirable quality, but in this climate you have to do more. I know that in order to advance your A/P career, you must “work harder on yourself”.

This year I will be:
•)) Reading more books.
•)) Watching more webinars.
•)) Attending the A/P conference in Washington, D.C. on April 10th – 12th.

In 2007, I attended an all-day training seminar in NYC and passed the APM certification exam. I remember leaving this event and feeling like I just gained A/P superpowers. I cannot think of another way to attain knowledge, contacts, and resources in one day. Also, speaking only from my own personal experience: After getting the APM certification, my annual salary increased by 22% and about 30% within five years.

“Accounts Payable Professional Group members” has been extended a $100 discount. Just make sure to use the code: “APP” when you register. If interested, visit: http://www.iofm.com/event/apconf-spring13

If you do use this code and attend the conference, make sure to find me! I really want to meet you. In fact, if you do, I will make sure to write you a LinkedIn recommendation. I feel comfortable doing this because I know that only those of you who are really serious about A/P would attend this event.

What activities will you do this year to advance your career? Please post your ideas!

You are invited to join Accounts Payable Professionals group on LinkedIn

The Accounts Payable Professionals group on LinkedIn was created to share AP specific news and information, as well as other resources. We currently have over 13,000 members, mostly AP pros, but there are also IT pros, recruiters, and other business professionals. There are also two AP Associations represented in our group: IOMA/TAPN & IAPP and many of our members are certified specialists. 

Special offer for our group members!

I am very excited to announce that we received an exclusive deal for members of our group. $150 off the Accounts Payable 2012 Conference & Expo in Las Vegas, NV on October 14th – 16th.

Discount code available to members only, so sign up as a member today!

http://www.linkedin.com/groups?mostPopular=&gid=128842

or

http://ap.groupsite.com

AP Recovery Services

I've been working on creating a list of AP Recovery companies:

AP Recovery Spreadsheet

If you have dealt with one that you would recommend please add it to our list.


-RR

What is OFAC? and the SDN list (aka the Patriot Act Search)

OFAC stands for, “The Office of Foreign Assets Control” and SDN stands for, “Specially Designated Nationals”. This is a part of the US Department of the Treasury. Its job is to  oversee economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States. OFAC acts under Presidential national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under US jurisdiction. Many of the sanctions are based on United Nations and other international mandates, are multilateral in scope, and involve close cooperation with allied governments.

Who should be OFAC compliant?
Any businesses large or small needs to make the effort to ensure that they are not doing business with restricted individuals or entities. If you are making payments, you need to have a compliance program.

Here is the official link to the OFAC SDN list: http://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/default.aspx
However you may like to use the Instant OFAC website which provides a useful search engine to check if a vendor is OFAC compliant: http://www.instantofac.com/search.php

Articles regarding OFAC fines for non-compliance:
http://treas.tpaq.treasury.gov/press/releases/tg691.htm
http://sanctionlaw.com/2010/12/28/discover-and-wells-fargo-banks-settle-ofac-violations/
http://www.bullfax.com/?q=node-british-watchdog-fines-barclays-over-investment-failure
http://www.customsandinternationaltradelaw.com/2010/11/articles/export/ofac-1/miami-aircraft-company-pays-250000-fine-for-lying-to-ofac/
http://www.exportlawblog.com/archives/2589

Using 5S to improve efficiency in your AP Department

It is amazing how small changes can make a big difference. 5S has personally helped me double my efficiency in the past year, so I'm a believer! Here is my take on 5S:


1) Sorting - Get rid of all unneeded items in within your reach. Keep commonly used items close by. (i.e. things that you use every couple of minutes should not be in a drawer and things you haven't used in a month shouldn't be in front of you). 
2) Straightening - Once your things are arranged in the right spots, make sure they return to the same place after each use.
3) Sweeping / Shining - Keep everything clean and organized. This reduced the time wasted looking for lost items.
4) Standardizing - Workstations that are organized the same will make it easy for a coworker to find work items when you are on vacation or out on a mental health day!
5) Sustain - Keeping up steps 1 through 5 and continuously looking to improve the process.





-RR

What steps can your AP department take to lower cost?

Here is a list of ideas to start with:


1) T&E policy modification
2) Taking Discounts
3) Purchasing cards
4) Electronic payments
5) Electronic invoicing
6) Imaging
7) Automation
8) Vendor portal

My challenge to you: Become a microlender!

As little as $25 you can make a difference for entrepreneurs in developing countries. How this works is:

1. visit Kiva.org.
2. Click on the Lend button.
3. Find a business that you would like to help.
4. Click on the LEND $25 button, and follow instructions.

The difference between being a microlender and just donating money is that the $25 is paid back to you. When you get the $25 back, you can re-lend it (on and on). So instead of helping one person, you can help many with the same amount of money.

Q: What does this have to do with A/P?
A: Absolutely nothing. But I believe in helping people stay out of the grips of preditory lenders.