The arm of the law is not only long but patient and painstaking. This month, the U.S. Department of Justice charged a former account manager for Swedish telecom giant Ericsson with conspiracy to violate the Foreign Corrupt Practices Act (FCPA). The one-time Ericsson employee facilitated the payment of $2 million to two high-ranking officials in … Payables and FCPA Compliance
Significant events cause change. Sometimes they produce innovation. They can drive new legislation, which has its own effects. Many times, events boost changes already underway, particularly in terms of applying technology. The 21st century has already seen several large-scale events that have impacted business. At the start, accounting scandals were underway at Enron and WorldCom … Another Big Event Brings Change, Opportunity
Hackers continue a relentless barrage Last December, the U.S. government announced a major cyber breach by Russian hackers. Before we had understood fully the impact of that attack on 18,000 organizations and government agencies, we learned “holes” in Microsoft’s email software led to another compromise of 30,000 U.S. organizations. That attack was by Hafnium, a … Cyber Risk Statistics and the Need to Secure Sensitive Information
We may not be out of the pandemic woods, but the way forward is clear. In the upheavals of the Coronavirus, financial officers regret not having invested more in automation, AI and robotics a few years ago, according to a survey by AppZen. Within weeks of shelter-in-place orders last year, experts forecast that automation would … Pandemic Lesson: Financial Chiefs Say Automate
Someone is out to get you. Hackers are working full time. And with your team working from home now, you face greater risk. Cyber-criminals are constantly working to find soft spots or weak links in your organization to exploit. And hackers study human behavior and are good at manipulation. When everyone first started working from … Is Your Remote Team Sufficiently Cyber-Security Savvy?
The work of accounts payable (AP) has a broad reach. It is one of the few departments that touches every department within a company as well as external parties. It plays an important role in the company’s supplier relationships. As recipients of AP’s services, the vendors, internal employees and government agencies are AP’s “customers.” Internally, … 2020 Accounts Payable Customer Service Survey
When a vendor does not receive an expected payment, they contact you to find out what’s up. If payment has been late in the past, many vendors will not wait until payment is due. They’ll call to confirm that you got their invoice, or to ask when to expect payment (putting you on record). There … A Silver Lining in the Vendor-Inquiry Clouds
Disruption happens. And when it does, expectations are replaced by uncertainty. In the case of the Coronavirus, that uncertainty has no apparent endpoint. The consequence is tremendous anxiety. If you are a leader, your staff looks to you for direction. Leaders must manage the anxiety that can lead to bad decisions or behaviors, and decreased … In the Face of Uncertainty, Leaders Must Provide Clarity
Working from home is challenging productivity. Several factors play into that challenge. Leading issues are children, space, privacy, lack of time boundaries, and importantly, the lack of professional social connection. Stanford University Economist Nicholas Bloom, a noted work-from-home advocate, expects a productivity decline in the large shift to remote work, at least for a time. … Motivation and Productivity in Remote Work
Working successfully from home requires more than secure Wi-Fi, a VPN and video conferencing. And younger workers are finding it more difficult than older ones. That is according to a new survey by Engine Insights, commissioned by Smartsheets. When the workforce suddenly shifted from working on-site to remote locations, organizations first focused on getting everyone … Home Alone – Remote Work Is Tough, Especially for Younger Workers
Overnight, working remotely became “a thing.” Essential industries were allowed to keep operating, but everyone else had to stay home. In 2020, fortunately, many could stay home and still work.
Working remotely has been less easy for accounts payable. Even companies with a high degree of automation still have some paper coming in. Others are less automated. And checks, according to a 2019 AFP study, still account for more that 40 percent of supplier payments.