© 2011 financial operations networks llc how to win buy-in to implement best practices and new...
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© 2011 Financial Operations Networks LLC
How to Win Buy-In to Implement Best Practices and
New TechnologyJudy BickingFinancial Operations Networks
Wednesday, April 13, 2011
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THE ACCOUNTS PAYABLE
Leadership ConferenceDo You Feel Like YOU are the Only One Rowing the Boat?
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THE ACCOUNTS PAYABLE
Leadership ConferenceRoom Discussion
• What are you working on that has run into road blocks?
• What are “THEY” saying?• Internal customers are as
important asexternal customers
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THE ACCOUNTS PAYABLE
Leadership ConferenceResistance
• Resistance is the normal reaction
• IT IS NOT PERSONAL
Ya But
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THE ACCOUNTS PAYABLE
Leadership ConferenceResistance (Cont’d.)
• Do you have so many projects that nothing is getting done?― People are confused about what you want― YOU are spread too thin
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THE ACCOUNTS PAYABLE
Leadership ConferenceTry
• Relook at the:
Ethics, Mission, Vision and Goals
• Everyone should be able to relate to EMVG― CUSTOMER SERVICE― The company ― AP vs. purchasing
• What does the client want/expect?― Who is the client?
P-cardshotgun wedding
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THE ACCOUNTS PAYABLE
Leadership ConferenceWhy Metrics Are So Important• There may be too many problems to handle all
at once
• Rack ‘em and stack ‘em (high dollar/high volume)― Use the 80/20 rule
Example: Mismatch issue statistics: • 80% due to lack of receipt • 15% due to quantity • 5% related to price
Missing Receipts Dollar Values: • 78% valued under $1,000 • 17% valued between $1,001 -$5,000 • 5% valued more than $5,000
Type of purchases: • 82% for non-inventory • 16% service related • 2% inventory
Tie to a best practice:— High volume creates bottlenecks, effects Cycle Time: Workflow— High dollar effect production/sales: Evaluated Receipts
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THE ACCOUNTS PAYABLE
Leadership ConferenceResistance
• Only 1 in 10 can easily change
• What they hear ― The “old” way is wrong― User friendly (Yeah Right!)― I may not have the right skills― Hard to give up current process
• PAPERless: harder than not smoking!
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THE ACCOUNTS PAYABLE
Leadership ConferenceTry
• Traditional:― Presentation with facts, goal and metrics― Close: try to get agreement
• Two-step approach― 1st presentation with facts, goal and metrics
• Ask what their pain is • Listen—don’t give solution—think you didn’t listen
― 2nd meeting• Review 1st meeting and especially their pain• Solution with best practices and benchmark success• WIIFT
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THE ACCOUNTS PAYABLE
Leadership ConferenceBenchmarking
• Get behind the metrics (how was it calculated)
• Which BP is right for you (ERS or EDI)?
• Ask leaders in a BP how they overcame roadblocks: i.e.: ERS – duplicate payments
• What is a “real” goal? ― 100% paid on time or 98%
• What should you be charting? ― Paid on time or first pass?
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THE ACCOUNTS PAYABLE
Leadership ConferenceTry Finding theRight Change Agent• Get the biggest resistor on the team: ….who complains the most ……with the most late payments ……........ YOU try to avoid
• Into the decision, process building, first to go live
• WHY? When it works for them…
the rest is easy AND you have an advocate !!
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THE ACCOUNTS PAYABLE
Leadership Conference
Change Startswith YOU
We want folks tochange… How arewe at changing?
Who’s the biggest challenge?W I I F T ? ? ?
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THE ACCOUNTS PAYABLE
Leadership ConferenceIF All Else Fails
Begging is okay !!!
Use some humor!
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THE ACCOUNTS PAYABLE
Leadership ConferenceCase in Point
• Evaluated Receipt Settlement― Over a year of presentations to get it
off the ground• AP suggesting – purchasing resisting• Fear of loosing job
• Frustrated ― Begged one buyer to participate
• Bet dinner for two in the Bahamas• NEVER had to pay off the bet because it worked
• One buyer became advocate! ― 99% acceptance in less than a year!!
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THE ACCOUNTS PAYABLE
Leadership ConferenceWhich Chart Do You Use?
1. 2.
Change your vision/attitude
• Reflect the positive rather than the negative:―Invoice NOT paid on time―Invoices paid on time
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THE ACCOUNTS PAYABLE
Leadership ConferenceCharting for Results
Baseline:no matterhow bad...show realnumbers*If you don’tmeasure it,you can’t manage it
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THE ACCOUNTS PAYABLE
Leadership Conference
ResolutionMail Rec’d Sort Mail
Day 1 - 200
AP Processor
Index Key fields
Scan Payment
Day 1-3 Ages to Due Date
Invoice Cycle Time
EDI, ERS One Day
How do you move from a cycle time of +200 days to one day?
What suppliers are involved? What are the causes of a long cycle time?
Ages to Due Date
WHEN DOES the clock start??
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THE ACCOUNTS PAYABLE
Leadership ConferenceTraining Everyone
• End-to-end training • … AP process• …… P2P• ……… T2P• ………… T2D• …………… T2R
FIND THERIGHT
SOLUTION
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THE ACCOUNTS PAYABLE
Leadership ConferenceEnd-to-End Thinking
You’ve heard of 5 Star Hotel RatingYou should be aiming for 7 Star Customer Rating
Achieve a 7 star ratingwith ACES
World-Class
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THE ACCOUNTS PAYABLE
Leadership ConferenceFinding a Best Practice
“Touch it once”
Automate
Consolidate
Eliminate
Simplify what’s left
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THE ACCOUNTS PAYABLE
Leadership ConferenceAttitude
They will follow management’s lead• Negative attitude
― Negative results
• Positive attitude― Positive results WITH new ideas
CommunicateCommunicateCommunicate
ListenListenListen
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© 2011 Financial Operations Networks LLC
Thank You!