Best Accounts Payable Processing Practices

When it comes to working in accounts payable, there are a dozen things that can happen to cause a good day to become a bad one – and these things are often actions that took but a second or two to happen. These mistakes often occur not because of a lack of training or due to faulty practices but often because people are unaware of ways to improve the work situation.

Thankfully, there are many actions that can be taken to ensure that your business is using the best accounts payable processing practices available. By doing this, you can minimize the risk and exposure that result from not having a totally secure system and effective recovery process. While there are many different steps you can take, one of the most important things is that you track a number of elements in the accounts payable processing department.

· Keep up with the number of invoices that come into the accounts payable department in given period of time. The larger your company the more of these there will be. Tracking these will give you a baseline and make it easier to track other items within your department.

· How many invoices are processes as a percentage of the total number of invoices during a specific amount of time. Tracking this helps measure how effectively and efficiently your department is getting the work done. If you feel that the work being done is not enough, then sit back and determine what can be done to make your department more efficient.

· Pay attention to the rate of wrong payments as a percentage of total payments. You need to be aware of any over or under charges. Using a HER program can minimize occurrences such as these.

· Figure out how much it is costing you per invoice processed. Be sure to note things such as software costs, IT support, hardware, and any other types of overhead. There are a number tools that can help you be effective and yet still keep the bottom line in the black.

· Track how many invoices are electronic versus paper. It is cheaper to process an electronic invoice than a paper one. In addition, the electronic invoices require less time to process. Hence, the more electronic processing and information storage is a better way to improve your budget and work efficiency.

Having the best accounts payable processing steps in place, you can be certain that you are doing all you can to protect your business. Talk to a team of business management specialist and learn how you can begin to better protect your company.

The Ultimate Strategy For International Air Freight Shipping

Gone are the days when physical boundaries and geographical locations created barriers. It’s the age of innovative transportation where businesses have the opportunity to reach out to potential consumers. Whether it’s a bulky electronics item or documents, you can opt for air-freight shipping solutions and get them delivered to exact locations. If you are running a business, all you need to do is develop a unique strategy for such transportation. That will help you send all the products to their desired addresses.

Identifying your needs

Do you know what are the prime requisites involved in International Air Freight Shipping? If you don’t, it is the high time to develop crystal clear ideas of the process. While looking for these services, make sure you know your needs and understand your requirements. It’s highly imperative to comprehend the technicalities as that is the key to executing critical operations.

Things to note

Before devising the strategies and implementing them, make sure you take note of the crucial factors involved in these projects. What’s your requirement in an overseas transportation project? Here are some of the factors that matter a lot when you plan to associate with the best International Air Freight Shipping service providers:

Services and solutions

Does your chosen partner offer 24*7 support assistance? Overseas shipping and deliveries require profound attention, care, and professional handling. You must take a look at the services offered by the top companies before finalizing the associations!

Cargo deliveries

Your cargo should reach on time as that will prove your service excellence. Timely cargo deliveries are of paramount significance for a company and it instills trust and reliability to a great extent. When it boils down to executing cargo transportations, make sure your chosen partners have the right resources in place.

Cost factors

Choosing the top companies can be affordable too. Most of the people think that partnering with a reputed freight shipping firm can be expensive, but that’s not the truth. It’s imperative to check the service costs and their solutions. That will give you a complete idea of their services.

Finding the leaders

Always look for the top service providers, as they always come up with a host of solutions for clients. Check their experience, market reputation, and several other factors that make them the true leaders. The best companies will have services for one and all. That’s what makes them the pioneers.

Factors to consider

If you are planning to get in touch with leaders, here are some of the factors to care about:

Experience: Always get in touch with experienced companies as they have in-depth knowledge of the market.

Expertise: Professional expertise is of huge importance and you shouldn’t compromise in this regard. Check whether your chosen partners are aware of the technicalities.

Services: When the international shipping, you should opt for the perfect solutions. Know about the services offered by the chosen companies and then take the final decision.

Parting thoughts

Once you analyze these aspects, you will surely get in touch with the top shipping and transportation partners.

A Virtual Assistant

In this year and age, everything is related to the internet. From shopping, banking, bills payment, social interaction, communication and every bit of actions we humans do nowadays was somehow linked to the use of the internet. For several years I had been working a very traditional job in retail. However, personal circumstances made me re-think my current situation. A part of me always feels that traditional jobs here in the Philippines are very time-consuming. With a standard 48-hour work and a 1-day off per week, quality time with family and peers seems unlikely. So if work schedules are eating much of our time, is it after all worth it? This question bugged me for a lot of months. Then one day I came across KOM Academy’s Facebook posting for a free seminar on “How to be a Virtual Assistant.” Curious, I immediately inquired and pre-registered for this event. That’s when I realized that there are a lot of opportunities outside the traditional work environment.

What is a Virtual Assistant by the way? These are smart individuals offering administrative, creative and technical skills to remote clients. So what made me think this virtual job is kick-ass better than my old job? Reason number 1, “I am my boss”! As VA, as they call it, you work as an independent contractor to the client. Which means that you don’t work for a company or an employer, but instead they outsource you to render them the services they require. About this, you are not limited to work for a single client. Hence, the second reason – more clients, more income. By this I mean you can are not limiting yourself to only one source of income. You have the control to expand your financial gains as you deem fit. The third reason, it is home-based. What is not to love working at the comforts of your space? No hassle from commuting, dealing with worsening traffic situation of the city, increased transportation expenses, annoying amnesiac office mates who always borrow your things but never bothers to return them are just a few to mention.

If there is a convenience in the environment, work schedule is something that is flexible as well in this industry. That is the fourth reason why I considered engaging into this business. The chance to be given a schedule that is favorable to your liking is something that is highly unheard of in traditional jobs. Often you must be employed a full-time job to get a decent salary. Whereas in VA, even part-time jobs can still get you good pay. Mainly because you are paid based on the quality of your work output and not just merely on the number of hours you spent. Furthermore, output-based jobs present more opportunity for workers to get promoted as evaluation is real-time.

The fifth reason I seriously consider is that this job is never boring. As mentioned earlier, VAs provide different service from administrative, to creative and even technical for those highly-skilled individuals like the programmers. Thus, this job can present you wide range of tasks that you can explore and hone your skills.

These things cited above are just a few of the factors why I considered becoming a Virtual Assistant. To have the convenience of time and place in your hands is a privilege that an ordinary worker won’t be able to experience in a traditional work setting. As I go along my journey into this business, I am looking forward to discovering more things to love and enjoy.

To be successful in business, sometimes the wisest move to make is to ask for help. Remember that you don’t have to do it all alone. Get a co-worker from a distance!

Global Greenhouse Sector

What exactly is a Greenhouse? It is a name given to a structure with roofs and walls made primarily out of a transparent substance like glass. Within a greenhouse, plants that need regulated climatic conditions are cultivated with an aim of healthier output. These buildings vary in size from smaller sheds, to larger commercialized structures. In this current scenario, greenhouses are part of modern-day farming which is focused towards protected cultivation of plants in an enclosed shelter, without allowing any type of damage to the product as well its nutrients.

People who love home-grown veggies and fruits will definitely prefer a greenhouse. This is due to its ability to provide an effective method to cultivate plants protected from the harsh external environment. Greenhouses are usually equipped with clear or glass-plastic walls that enable them to preserve heat, while also allowing light to enter. The resulting situation brings the ideal factors for cultivating many kinds of plants.

Quite a number of commercial glass greenhouses are categorized under innovative production houses for flowers and vegetables. The active greenhouse market trends are surely leaned towards modern facilities. The inclusion of heating, lighting, screening installations etc., are needed for the automated growth of plants. Moreover, various techniques are implemented for ensuring a significant decrease in production risk before the cultivation of a particular crop.

Smart Greenhouses

To meet the needs of the sector, greenhouses are produced for high dependability and performance. These types of structures offer valuable data regarding a material’s stability, composition, response to wear and tear atmosphere and external factors. Greenhouses thus contain applications for different types of processes like food production and scientific research.

For instance, the smart greenhouse is an innovation in farming and is a climate managing, a self-regulating procedure that is perfect for plant survival. It helps to create a micro-climate environment which is like a new climate in a restricted zone. This zone is created by the use of sensors and various applications. The smart greenhouse contains different components like monitoring system, actuators, and control system. The concept of smart greenhouse aims to ease growth situations for plants and creates an autonomous growing process.

Extended Growing Season

Plants grown in a greenhouse are not subjected to the same degree of temperature differences which is needed for plants cultivated in an outdoor garden. Based on latest trends, greenhouses trap radiation that comes from the sun into its insides and enables the retention of heat within the enclosure. The controlled climate that is achieved in a greenhouse helps farmers to lengthen the growing season of plants which may not survive the colder climate outside of the greenhouse. This allows consumers to buy locally cultivated vegetables, flowers, and fruits which are out of season.

Control over the Produce

People without a garden are bound to buy their food at the groceries or farmers’ market. On the other hand, commercial farms usually use toxic pesticides and chemicals, to enhance the living situations of crops and improve production. When businesses try to prepare a greenhouse industry analysis, the first aspect that they learn are the crucial advantages that are connected with the implementation of greenhouses.

A test conducted by an environmental group revealed several vital facts. It found trace amounts of toxic stuff over the produce even after the harvest. Greenhouses help farmers grow their own food to gain absolute control over their environment. This process produces tasty and fresh food without the risks of toxic chemicals, which can potentially be hazardous.

Food Boost from Plant Isolation

A greenhouse maintains the plants in isolation, preserved safely from the external world comprising pests, rodents, and insects, along with other animals. According to the research gathered by big universities, gardeners must isolate their plants by using a greenhouse which is sealed and caulked. An efficient greenhouse with absolute isolation and tightly sealed, along with expertly managed air flow which offers protection from insects, pests and even from diseases should be preferred by the farmers.

Expand Your Brand Using Other People’s Money by Using Franchisor Strategies

Back many years ago, I met a fellow franchisor, he’d built a nice company with 250 franchisees which operated Kiosks in shopping malls – you know those carts in malls that sell various wares. What he did was make each Kiosk its own business, at first as “independent contractors” but later as Franchisees due to the Franchise Law rules. Each franchisee had to sign a two-year franchise agreement with non-automatic renewal, where the Franchisor could merely take over the business, location, as he already had the lease-space agreement with the malls, including the corporations that owned many malls around the country.

After two years, he stopped renewing franchise agreements, took control of all those little businesses, and then sold the whole thing and retired a very wealthy man. Unfortunately, many of the independent contractors, turned into Franchisees were forced out after building up their businesses and providing a substantial amount of goodwill. The franchisor’s concept was built by the blood, sweat and tears of all those individuals, who did make decent money in the meantime, but were then basically terminated when their franchise agreement term ended.

Recently, there is an interesting company in the “Handy Man” sector which has a franchise agreement that states it may unilaterally buy back the franchisee’s business at any time after 2-years of operating. In the Franchisor’s option to purchase there is a mathematical formula for valuation of the Franchisee’s business that negate the value of any “goodwill” and allows the Franchisee to choose if he will see at “Fair Market Value” of assets (used equipment, office furniture) or twice the earnings before interest, taxes, and amortization (EBITA).

Why would a Franchise Buyer buy a franchise like that? I suppose there might be a few situations where it makes sense for instance, the Franchisee just needs a couple of years of income and believes they can build up a good “book” of business, and if it starts to go South, the Franchisor may buy him/her out and they can move on, less risk? But what if the Franchisor chooses not to buy and the business fails? What if the business succeeds wildly and the Franchisee is forced to sell-out a thriving and growing business?

If you think about it, it is a brilliant strategy for a Franchisor, have others build your business, take all the risks, and if they succeed, you terminate their franchise agreement instead of renewal, and if they fail, you simply let them fail, then sell that territory to a new franchisee, until one succeeds and then you just keep winning and building on the backs of others. As a franchisee buyer it may be wise to recognize such strategies and be weary of them, unless it serves your temporary purpose of a short term business and solid temporary cash flow based on your abilities and the Franchisor’s model. Think on this.

Package Forwarding Service

As far as international shipping is concerned, you have many options. But one of the best options is hiring a good package forwarding service. Let’s take an example Suppose you reside in Australia or UK, and you want to buy an item from eBay or Amazon. In this case, you have to use a package forwarding service. This service will help you save a lot of money, as you won’t need to pay high shipping charges. it’s not difficult to use such service. Read on to know more.

Registration

First of all, you need to choose a package forwarding site. Once you have a good and reliable provider, your next step is to sign up to get an account. By signing up, you will receive a forwarding address. You will use this address to meet your shipping and shopping needs from time to time.

Make sure you check everything carefully before signing up. The shipping cost shouldn’t be too high. Aside from this, you need to find out about other services offered by the provider, such as package consolidation, repackaging and fees, just to name a few. it’s very important that you take all these things into consideration or you will regret your decision later on.

Address details

As far as entering your address is concerned, you can use the same address you saved at the time of signing up for the first time. Once you have chosen the address, you can go ahead and place your order. This way you won’t have to type your address each time you place a new order. Next, you should wait for the delivery of the package from the seller to your address.

Package handling

Now, you need to make arrangements for your parcel handling like repacking. Another option that you can consider is package consolidation. When you place orders with many retailers, you can try out this option. You can save a lot of money with package consolidation. However, you need to keep in mind that choosing this option may add to the custom duty for some countries. In this case, what you need to do is get the package sent separately instead of paying high custom duty.

Shipping fee

Keep in mind that you will have to pay the international shipping fee if you want to get the package at your doorstep. Once you have paid the shipping, the package will be yours.

Important things to consider

You may want to prefer a forwarder that charges no membership fee
Remember: lower shipping fee can’t be translated to reduced total amount
For package delivery in tax-free states, you can save more.
Consider the membership fees
Make sure there are no hidden fees, such as storage fees
Don’t place your order for prohibited items as they won’t be forwarded

Long story short, if you are going to choose a package forwarding service in the near future, we suggest that you consider the advice given in this article. This will save you a lot of headache down the road.

The Secret of Successful Negotiation

Your best work is done before you get to the negotiation table.

The area of negotiation that most affects the outcome is the part you have most control over – the preparation. Research has shown that the best prepared negotiator is the one most likely to get the best outcome.

Preparation that gives you a head start on your opponent can be achieved by anyone willing to spend the time. Here’s nine factors you should prepare.

1. Know the ‘pie’ – fixed or variable

‘Fixed pie’ negotiations are those where the only way I can get a better outcome is to get you to accept a lesser outcome. These never result in a win-win outcome. ‘Growing the pie’ negotiations include variables that creative negotiators use to create high perceived value for the other side at little cost to them. Thinking creatively can even allow you to turn a fixed pie into a variable one. Perhaps the asset (a motor vehicle) is fixed, but you could add variables like payment terms, advanced servicing. The salary might be fixed, but flexibility of hours could add significant value for some candidates.

2. Know the impact

Will the outcome of this negotiation impact on any other current or possible future negotiations with the other party? You don’t want to compromise any negotiations going on now or set precedents that might disadvantage you at some time in the future.

3. Know which side is under the most time pressure

The side under the most time pressure has the greatest incentive to be flexible and may be prepared to give more as the deadline gets closer. If the other side is under the most pressure, your advantage grows daily. If the time pressure is on you, be aware this is a weakness and that if the other side becomes aware of it they will use it.

4. Know the relationship

Is this a one-off negotiation or are there likely to be future dealings? Is the relationship important to you? If the answer is yes, is it important enough for you to be more generous with your offer(s)? If the answer is no, will this change your approach and tactics?

5. Know the other side

Is their negotiation style primarily competitive or cooperative? How likely are they to try to bluff? If you haven’t negotiated with them before, is there someone else you know who has that you can talk to? Is there anything you can find out about them that they might not expect you to know? Anything you can do to compromise their confidence in their preparation is a useful tactical tool.

6. Know what they know

Research yourself. Find out what they know about you. Don’t let them spring any surprises on you.

7. Know some accepted authorities

Facts and figures are so often misrepresented in negotiations, nobody takes the other side’s word. Try to find some authorities that you will both accept as reference points.

8. Know your ‘negotiable’

Build a list of all the negotiating issues you are prepared to bring to the table. Priorities them. Try to build a similar prioritized list for the other side. Issues which appear lower on your list but higher on theirs are the ones that you will get most value for when bargaining. Determine what will be your starting point and your bottom limit. Be as precise as you can.

If you cannot priorities a list for the other side in your preparation, try to determine their priorities in your preamble discussion with them before you start putting offers on the table. If appropriate, try to have a pre-negotiation discussion with them where no one would be making any commitments; you would just be getting to understand each other better to help you create the highest-value offers.

9. Know your alternatives

The side who is most able to walk away from a negotiation will negotiate strongest. You can only do this if you have an equivalent alternative to negotiate with. If you don’t, and this party is your best or only option, then do you have a Plan B to offer them if all else fails?

All the latest studies have shown that preparation and planning are the keys to success in negotiation. Sides that prepare and know precisely their goals in a negation always do better than those who go in ‘hoping for the best’. Those who set specific timelines do better than those who are more flexible. Many things happen in a negotiation that you don’t have control over; but your preparation is not one of them. Everyone is busy; but using that as an excuse is a mistake. Walk in best prepared – and walk out most satisfied.

Human Resource Practices

What we have in the prevailing marketplace in today’s economy is the effort that has been made by some well-recognized companies, among them, the Fortune 500 companies based in the United States, who have come to take note of the contribution of their human resource department towards the success of their organizations, SHRM. This has led to the creation of human resource practices by HR department, that motivate its members to continuously being proactive in looking at the business organization, as it engages its employees to determine how they can be supported in strengthening the company’s strategic policies.

A business organization’s human resource practices coupled with its policies are very important in the creation and maintenance of a work culture that is meant to reward, support and then create the expectation for the employees to be consistent in the performance of their work and provision of services. The ultimate goal is the achievement of an optimum customer satisfaction, which at the end leads to a satisfactory financial outcome that create a tremendous success for the company involved, SHRM.

Human resource professionals have been traditionally aligned with administration and finance, tasked with paperwork and far removed from where decisions are made in C-suite level leaders. It has been acknowledged in today’s organizations the value of employees as a key resource, therefore are embracing HR as a key strategic partner with organizational leaders. The new role being given to HR is behind the drive to have companies invest more in advanced technologies that will enable them to manage the workforce, in order to allow HR to spend more time in making valuable contributions.

It has been found based on an audit of Fortune 500 companies that having an HR executive officer among the company’s executive leaderships lead to high performance. In the audit, it was made clear the impact of having Chief HR Officer in the C-suite, which is that the companies with CHRO are averaging 105 percent more profit than their industry peers that do not have one.

Having a chief human resource officer at the C-suite conference table means that the person with the title is able to bring to the table issues affecting the HR department that could not have been possible were the person not there. So the CHRO presence is able to make the argument of the impact of having human resource on the company’s bottom line, the value it brings to the company’s strategic decision making process, and also the need for the company to create HR that is high performance and is involve in the learning and development of its employees, and also the need for an effective technological solutions.

According to some of the Fortune 500 companies audited, the CHRO in those companies embraced the use of customer analysis, proactive talent management as human resource practices. Some of the human resource practices policies enacted that directly lead to high performance in those companies include the exposure of HR risks, like the need to retain key talent in the company’s annual reports and instituting the continuous review of goals and performance throughout the year, particularly:

When the company involve identify risks in their annual reports, the company performs better when compare with peers that do not identify risk in their key financial and market metrics like return on assets (55%), operating profit (by 95%) and earning per share (by 54%).

The organizations that review its employees performance throughout the year are likely to continuously meet its quarterly financial expectation, and show a better average compound annual growth rate (CAGR) when they are compared to their peers that only review performance on an annual basis.

Organizations that have a higher part of its goals aligned and completed does better than its industry peers in key financial metrics, such as quarterly financial estimates, operating profit, earning per share, and price-earnings ratio.

Having a CHRO has proven to have a link to a company’s bottom line, demonstrating the vital correlation between effective talent management and business performance. There are many companies that are very successful in today’s marketplace because they have been able to institutionalized human resource practices platform that put forward an advanced, connected HCM solutions that manage an entire employee life cycle; starting from recruitment to retirement- taking the role from being transnational to strategic, also predictive.

Underfloor Air Distribution

In our houses, we have vents in the floors and ceilings that shoot out cool or warm air depending on what season it is and whether we have the furnace or the air conditioner on. Because the vents are in a set position on the floor, it makes furniture rearrangement that much more tricky and doesn’t allow for you to re purpose rooms as easily as you may imagine, but it gets hot and cold outside and we want our homes to be cooled or heated at will and this is how it is done.

More and more buildings on a bigger scale however have underfloor air distribution built right in as they are constructed making floor plans more flexible and without the need for static vents in strange places.

This technique is used in areas like data centers that produce a lot of heat from computers and equipment that is constantly used. In this application, isolated air conditioner zones are associated with raised flooring. Perforated tiles are placed under the computer systems to direct air to them, cooling them down in the process. The computing equipment is designed to draw the cool air from below and get rid of the warm air into the room. The air conditioner unit will them draw air from the room, cools it and forces it again through the raised flooring for the cycle to be complete.

Of course, raised flooring and underfloor air distribution go hand in hand and it is all part of the HVAC system in a building. This system makes for improved comfort for individuals in the building, better ventilation for equipment, machinery and of course, staff and improved energy efficiency for the building itself. It also results in reduced life cycle costs and is used in places like museums, schools, churches, offices and airports, all places where lots of people gather and lots of equipment is continually used.

One of the best parts about underfloor air distribution is the fact that reconfiguration of the space is a lot easier, it is also great for computer rooms as they are constantly cooled, reducing the effect of over heating on their operating systems. The only place this newer technology isn’t effective is for wet areas like kitchens, bathrooms, pool areas, gymnasiums and dining areas but it is widely used in common buildings around the country like the New York Times Building and the Bank of America Tower to name just two.

The Ways to Improve Fundraising

Donor management is never easy no matter how easy it may seem; there is always some information that you will need to get and some that you will need to impart in order to learn some of the best ways of it.

In the many things about donor management the one that counts to be the most important of all is improving fundraising and getting into the skills of it all for the best results. Here in this article are the ways you need to follow and imbibe to improve the fundraising program for your nonprofit or church.

1. Be Transparent with Your Donors – Though this might seem like an obvious point, it is usually the one that is most ignored, and the most important of all. What is important about transparency is your donors being able to trust you with all – from your plans to our ideas and ideologies. Also, this is an important point to note because only when they trust you will they be able to steward their money well and you must be able to show them you are doing so. By ‘transparent’ we mean both financial and program transparency.

Financial Transparency: You might not be considering financial transparency to be an important point but this should definitely be on your list of important things. It is considered important to release a note time to time which would show how you are allocating your funds, but your donors are not going to sit and read through that long document. Make sure you give your donors an easy way to digest how you are investing their money. Create a graph, chart, infographic etc. And if it looks like you spent more in say, fundraising, than expected, explain why. Your donors love your mission and giving them a peek behind the curtain creates a sense of belonging and teamwork.
Program Transparency: Program transparency is all about the IMPACT. If you can show your donors the impact their money has made in changing the lives of those you’re serving or where the money has impacted, you can be sure you’ve done your thing right. Create annual reports showing the graphs of how far you’ve come with the support, meanwhile mentioning exactly where you want more changes and where you’re striving to achieve more.

2. Optimize our Donor Experience – Your donors shouldn’t be there for just one years or only a period of time, and that is possible only if you manage to optimize the donor experience convincing them that there are things that’ll help you stay in contact for more than one donation period. Try personalization (which definitely does no longer mean just hey and the first name); it is always recommended to stay in touch with the donors through emails, letters and phone calls. You can segment based on last gift amount, last gift date, a specific campaign – anything. And then create fundraising messaging around each category.

3. Audit Your Systems – Thought this is not important? Wrong!!! One of the most important points to be considered to improve fundraising is to audit your system – audit on your end – use the right set of tool and the right techniques. Keep the audit impartial and keep it clear – this will help you understanding how far you’ve come with your fundraising program and exactly how far you will be able to go with it.

Fundraising for churches, charities and non profits is the thing that does the most benefit and an increase in the finds over a stipulated period of time is exactly what they’re striving for. It is therefore recommended that you use these set of tips mentioned above and create a draft accordingly of you new ideas and plans for an increase in the funds.