Transform Accounts Payable!

Month: August 2019

Transform Accounts Payable!

August 31, 2019 | 8:35 am

Accounting and finance departments routinely get tasked with accounts payable responsibilities. And we work hard to get payments out timely and accurately. Yet are we doing all we can to work efficiently and effectively? Or are there delays, duplicate payments, rounds of rework, or late payments?

Lee Kuntz is facilitating a session at the next Nonprofit Financial Group of the Twin Cities meeting to surface accounts payable best practices. In this September 26, 2019 session, attendees will hear the latest on how nonprofits are transforming their accounts payable process into a sleek, painless operation while recapturing hundreds even thousands of hours of time.

Attendees at this no cost meeting will hear the results of Lee Kuntz’s 2019 survey of nonprofit accounts payable tool and payment method best practices. Also seasoned accounts payable staff will share their experience in streamlining their processes. These leaders have successfully recaptured work time and enhanced accounts payable outcomes.

What would your nonprofit do with 1,000 hours of work time back?

The learning objectives for this session are:
•  Learn the latest technology tools and payment methods
•  Learn to measure process efficiency and effectiveness
•  Learn the process transformation steps to recapture time, get responsibilities in    the right place and better control expenses
•  Learn how nonprofits are getting support for new accounts payable system investments

Register for this no cost session at: Registration: Transform Accounts Payable!

Session Facilitator
Lee Kuntz, process improvement speaker, trainer, coach, and strategist, has helped numerous nonprofits to successfully create capacity and deliver better and faster results to their community. Lee believes employees are the right people to improve how work is done. When they have skills-and-will in continuous process improvement, they can achieve impressive results.

Clients Lee has trained and coached have recaptured thousands of hours of work time from their back office and have reinvested the time saved into the community. These organizations

 

This Year, Plan to Transform Processes to Recapture Capacity

August 12, 2019 | 3:48 pm

Is your organization planning and budgeting for next year? Are you tired of fighting the same pain points year after year, such as overwhelming workloads, demands for better or faster results, or challenges to maximize costly technology? During this year’s budgeting and planning season, invest in process transformation to recapture capacity and solve pain points.

Create a Plan that Succeeds

This is planning and budgeting season for about 70% of the organizations I know. Many are creating concrete plans and budgets to solve their pain points in 2020. If they do not, organizations will experience the same old pain and frustration in 2020.

Organizations that help and serve others are recapturing hundreds—even thousands—of hours of capacity. They are serving their customers, community, board, funders, and donors in half the time. These leaders are retaining employees. Their secret? Investing to transform processes and results.

Most of us have done process improvement. We have tweaked processes and resolved breaks. Some organizations are taking their improvement work to a transformational level. They are cutting their work steps in half and delivering to their key partners in fraction the time. They are freeing up thousands of staff hours that can be used for other purposes

Outcomes of Investment

These organizations budget for an investment in process transformation training and coaching during in their annual plan. Here are the results they are achieving.
• Recapturing over 4,000 work hours.
• Sharing services across functions.
• Maximizing use of existing technology.
• Remaining error-free for 3 years.
• Delivering to customers in half the time.
• Transforming their organizations through ongoing improvement.

Recently we surveyed our clients’ process transformation results. Our customers achieved a return of 1.5 to 3 times their investment during the first year after implementation. This return came in the form of recaptured time and error-free results. Then these organizations continued to receive time back and positive feedback from customers over time.


Figure 1: Return on Transformational Process Improvement

In addition, achieving this enviable return on their investment, these leaders are committed to building a culture of ongoing improvement. They can easily fix and improve any process and result because they have learned the tools to see and solve transformation opportunities. Their employees are fully invested in the process transformation game because they have been involved as stakeholders since the inception of the training.

Invest in Building Process Improvement Muscle

Leaders are bringing the story of process transformation to their organizations’ annual planning discussions. Yet a common question is: What does the initial investment consist of?

The initial investment in transformational process improvement includes two components: dedicated staff time for learning and implementing new approaches and out-of-pocket costs for training and coaching. A typical employee will spend between 5 and 40 hours annually doing successful process transformation. The cost of the training and coaching depends upon the amount, level, and number of days needed. My firm offers a half day and a full day think differently process transformation workshop. Contact me to learn more about training options.

Plan to Solve Pain Points in the Coming Year

Organizations that train their employees in process transformation find that work gets done faster and with fewer errors. The time saved leads to better service to the organizations’ customers and community, and greater job satisfaction among employees. You can, too! Contact me, Lee Kuntz, to learn more about how your organization can plan to solve pain points and thrive.

Contact Lee today to discuss your challenge.