The Finance Department, by the nature of its work, is sometimes at odds with other departments within the organization. Consider, for example, a disgruntled colleague who has submitted an expense report and is demanding a refund, or a supplier who has not yet been paid and wants to know where his money is. The finance department is blamed 98% of the time. While this cannot be reduced to 0%, there are steps that can be taken to reduce the pressure on the department.
The 7 steps
Step 1: Make sure all invoices are in the system within 24 hours of receipt. This reduces the number of phone calls from colleagues asking if the invoice was received, they can check the status themselves.
Step 2: Do not make promises on the phone to a colleague or supplier that cannot be kept. That only provides a short-term solution, later the problem will come back bigger and more persistent. If there is a problem talk it out immediately It may become a discussion but it is solved immediately. This is also much better for the long-term relationship.
Step 3: Provide colleagues with an understanding of the payment processing schedule. Colleagues are more likely to submit invoices or claims on time if they know the steps involved and how much time it takes.
Step 4: Make sure it is clear to all colleagues what the organizational policy is regarding cost claims. This will save claims that are not allowable and discussions about them.
Step 5: Do you get complaints about attitude and/or interpersonal skills in the department? Make a call yourself, or ask someone else to do so, and experience it for yourself.
Step 6: The Finance Department also has customers to take care of, these customers are their colleagues and suppliers who need information. Customer service training for the Finance Department helps improve relationships and provides insight on how to improve relationships with their customers.
Step 7: Learn from each other and create understanding among others. Invite procurement professionals to spend a day with you in the invoice processing process and the difficult cases in it. Then walk with the procurement professional for a day yourself. It increases understanding in each other's situation.
Time to optimize
In the madness of the day, it is sometimes difficult to make time to think about improvements or discover where savings can be made. Spending less time on conflicts creates space and allows your department to focus more on other things. Could you use help optimizing your purchase-to-pay process? Feel free to contact us to discuss the possibilities.
