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A Lean Approach To Invoice Management

A Lean Approach To Invoice Management

I stumbled upon an article in the McKinsley Quarterly e-newsletter on lean management at the online retailer Amazon, and it got me thinking about this approach to business process excellence. As defined…
bike ride

Gear Up For The Networked Economy

Over the holiday break last month, a friend and I rode our bikes to the top of Mount Diablo—at 3,849 feet one of the highest peaks in the San Francisco Bay Area.  As you can imagine, the ride…
managers ensure financial compliance

The Right Gesture For Enforcing Compliance

I pride myself on the fiscal management of our household budget, but I must confess to deficit spending over the past two years. And it will continue for at least two more. The cause of the shortfall is the…
The $100 Million Question For Your Treasury Group: Part II

The $100 Million Question For Your Treasury Group: Part II

Last week, we began to explore the impact of payment terms management and early payment discounts on cash earnings, cost savings, and working capital. In this post, we’ll resume the…
million dollars

The $100 Million Question For Your Treasury Group

Which group in your organization is leading the charge into the networked economy? It’s not likely the treasury organization. And why should it? That is becoming a $100 million question. For many…
Fenway entrance

Stack Your Lineup for Excellence in Procure to Pay

Baseball season is winding down in North America, and so is the time for making references to the national pastime. As I write this, the Boston Red Sox and…
Moneyball movie poster

Who’s on First? Moneyball Meets the Networked Economy

I stumbled upon a baseball statistic that even ardent followers of sabermetics may not study. It’s the percent of stolen bases that occur before a pitcher
Procure to Pay in the Networked Economy | Part 3

Procure to Pay in the Networked Economy | Part 3

In this last installment of my interview with James McDonald, director of procurement operations, ING U.S., he discusses the value of aligning AP and procurement, and…
Procure to Pay in the Networked Economy | Part 2

Procure to Pay in the Networked Economy | Part 2

In this second installment of my interview with James McDonald, director of procurement operations, ING U.S., he discusses invoice exception handling, the limitations of scanning and…