Institute of Finance and Management Announces AP Manager and AP Department of the Year

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Rick Menoscal and JM Family Enterprises received top honors at the Accounts Payable Conference & Expo in Las Vegas.

RD Whitney, IOFM's Executive Director, congratulates Joan Stramaglia of JM Family Enterprises.

RD Whitney, IOFM's Executive Director, congratulates Joan Stramaglia of JM Family Enterprises.

[AP] is a critical function for any company, but the dedication of the staff is sometimes taken for granted. We are proud to take an opportunity each year to recognize the important achievements going in on AP.

The Institute of Finance and Management (IOFM) announced the winners of the 2014 AP Manager of the Year and AP Department of the Year during an awards luncheon on the opening day of the Accounts Payable Conference & Expo, currently underway at the Mirage in Las Vegas. The honors went to Rick Menoscal, AP Manager at the Florida-based headquarters of Memorial Healthcare Systems, and to the AP Department of JM Family Enterprises, also based in Florida. More than 700 people were in attendance at the awards luncheon.

Rick Menoscal is the AP Manager of Memorial Healthcare Systems, where he has worked for more than 14 years. Under Rick’s leadership, his team has achieved productivity gains of 67% (processing more than 350,000 invoices last year). He and his team are noted for their technical skill, high performance, and dedication to continuous improvement.

JM Family Enterprises operates a diversified portfolio of businesses in the automotive industry. The department undertook an ambitious invoice processing transformation, ultimately converting over 65% of their checks to electronic payments. The department also demonstrated a dedication to compliance, getting ahead of the FATCA updates and requiring forms W8 and W9 from all vendors.

“AP is a department that is all too frequently under-recognized,” says RD Whitney, IOFM’s Executive Director. “It’s a critical function for any company, but the dedication of the staff is sometimes taken for granted. We are proud to take an opportunity each year to recognize the important achievements going on in AP, not only by honoring the award winners, but by creating an exciting event dedicated to the world of AP – both where it is and where it’s going.”

The Accounts Payable Conference & Expo is currently underway at the Mirage Resort & Casino in Las Vegas. The conference agenda features presentations from current AP leaders and practitioners from JC Penney, Home Depot, AT&T, the Mayo Clinic and may others. The next event will be held in Florida at Disney’s Yacht Club Resort, May 18-21, 2015.

About IOFM

The Institute of Finance & Management (IOFM) is the leading source and largest provider of tools, resources, research, training, certification programs, and events in the rapidly evolving field of financial operations. IOFM runs three membership networks: The Accounts Payable Network (TAPN), The Accounts Receivable Network (TARN), and The Controller’s Network (TCN). Membership helps professionals advance their careers and organizations improve their processes through access to proprietary information, best practices, and expert insights. IOFM is a business unit within Diversified Communications, a global organization operating on four continents and a major independent producer of events and media worldwide. For more information, visit http://www.iofm.com.

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RD Whitney
The Accounts Payable Network
since: 06/2012
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