Orlando, FL (PRWEB) May 20, 2013
A first-of-its-kind assessment tool that enables accounts payable professionals to measure their progress toward automation and immediately receive customized recommendations was announced today by The Institute of Financial Operations (IFO) and Perceptive Software at The Institute’s annual Fusion conference held this week at Disney’s Coronado Springs Resort in Orlando, Fla.
The AP Paperless Office Maturity Model (POMM), developed jointly by the IFO and Perceptive, a Lexmarkcompany (NYSE: LXK), uses responses to a series of 17 questions to rank AP processes at one of five levels: paper-based, image-enabled, workflow-driven, e-enabled, or paper-free. Respondents then receive detailed suggestions for next steps along the path to a paperless AP operation.
“This remarkable tool is the first of its kind in that it takes benchmarking a step further,” said Josh Gold, vice president, business development of The Institute. “We’ve conducted research that helps our members understand how their organization stacks up, but now we’re able to offer real, actionable recommendations as well.”
During the morning’s opening session, attendees used an electronic polling system to predict how their organizations would rank. Throughout the conference, they will have opportunities to take the assessment and see how accurate their predictions were.
“Achieving the ‘paperless office’ has long been a goal for many organizations and yet there’s no one single way to get there,” said Charlie Kaplan, Marketing Director for Perceptive Capture. “For most, it’s a journey that takes place over time, with significant benefits accruing at every step along the way. The Paperless Office Maturity Model is designed to help companies not only identify where they are today, but also think about best practices and next steps for continuing their journey.”
For the IFO, the POMM represents a significant step toward the organization’s strategic initiative of becoming the single most important resource for all financial operations information.
“We expect some of the respondents will be surprised that they’re not as far along as they might have thought,” said Jo E. LaBorde, IFO executive director. “That’s an important first step, because in order to improve your processes you need a clear picture of where you are now.”
The AP Paperless Office Maturity Model is available at http://www.paperlessofficematurity.com
About The Institute of Financial Operations
The Institute of Financial Operations is a membership-based professional association serving the entire financial operations ecosystem, with a particular focus on the accounts payable and accounts receivable disciplines and the related fields of information management and data capture. The Institute grew out of the merger of four associations: International Accounts Payable Professionals (IAPP), International Accounts Receivable Professionals (IARP), the National Association of Purchasing and Payables (NAPP), and The Association for Work Process Improvement (TAWPI).
Based in Orlando, Fla., with affiliates in the U.S., Canada, and the UK, The Institute serves as a global voice, chief advocate, recognized authority, acknowledged leader, and principal educator for people in financial operations. The Institute has a community of nearly 70,000, which includes 9,000 members and customers, and an additional 61,000 financial operations professionals.
The Institute’s members have access to benefits and leading-edge resources such as the award-winning Financial Ops magazine, a dynamic, content-rich website, educational and networking events, online educational offerings, certification and certificate programs, career resources, and volunteer opportunities.