Accounts Payable departments play a critical role in the operation of any major business, but they’re often the unsung hero
Las Vegas, NV (PRWEB) October 29, 2015
The Institute of Finance and Management (IOFM) has announced the winners of its 2015 Accounts Payable Department of the Year Awards. Presented to one organization with less than $1 billion in annual revenue and one with over $1 billion, the annual awards recognize AP departments committed to high-efficiency invoice processing, continuous improvement and all-around excellence. This year’s honorees are Nexion Health, Inc. and University of Maryland Medical Center.
Representatives from the two organizations will be recognized alongside two other guests of honor – recipients of the AP Manager of the Year Awards – during the morning of October 27th at Caesar’s Palace in Las Vegas. The ceremony kicks off the last day of the Accounts Payable & Procure-to-Pay Conference & Expo, where over 550 AP, P2P and shared service professionals will be in attendance.
The AP department at Nexion Health, Inc. earned the distinction of Accounts Payable Department of the Year for organizations under $1 billion in annual revenue by living their motto “work together, grow together, conquer together.” Nexion Health, Inc., a nursing and rehabilitation service provider, operates in three states. In the past year, the organization’s AP staff has worked long hours and gone above and beyond, ultimately reaching a triad of ambitious goals: implementing a P-Card system, training over 200 new employees, and shifting a large portion of their operations onto efficient and streamlined online platforms.
“We are thrilled and honored to win AP Department of the Year,” said Michelle Beall, Payables and Corporate Operations Manager at Nexion Health, Inc. “This award is a great recognition of our department's hard work and accomplishments. I can't think of a better way to end this year than by rewarding a team that epitomizes the true standards of excellence.”
In the category of businesses with over $1 billion in annual revenue, the University of Maryland Medical Center's AP Department, which oversees students, faculty, and patients in a forward-looking research and clinical facility, stood out. Following a full-scale restructuring effort, the department dramatically improved its P2P system, increased EDI vendors by 50 percent and earned IOFM AP Departmental Certification. The department’s commitment to excellent work is matched only by its dedication to the local community, demonstrated by participation in the Baltimore Heart Walk and various contributions to other local charities.
"To be recognized by an organization as prestigious as IOFM is a tremendous accomplishment,” said Bethany Mezzadra, Director of Disbursements at University of Maryland Medical Center. “The UMMS AP team has learned, firsthand, that dedication coupled with innovation and teamwork will deliver results. We are all incredibly excited and quite honored to receive this award."
Departments are nominated by peers via an online application, and this year was the most competitive yet with over 100 departments nominated in each category. "Accounts Payable departments play a critical role in the operation of any major business, but they’re often the unsung hero," said Brian Cuthbert, Executive Director of IOFM. "Nexion Health and University of Maryland Medical Center have raised the bar for AP excellence, and we’re proud to share their stories with the world."
In addition to the awards, the agenda for the AP & P2P Conference & Expo includes over 60 learning sessions, numerous networking opportunities, on-site AP Certification classes and more.
The Institute of Finance and Management (IOFM) is the leading organization providing training, education and certification programs specifically for professionals in Accounts Payable, Procure-to-Pay, Accounts Receivable and Order-to-Cash, as well as key tax and compliance resources for Global and Shared Services professionals, Controllers and their F&A teams.
IOFM has certified nearly 20,000 financial operations professionals worldwide through its four certification programs. These programs include Accredited Payables Specialist or Manager (U.S. and Canadian specific versions available), Accredited Receivables Specialist or Manager and Certified Professional Controller. The globally recognized AP & AR certifications are available in English, Simple Chinese and Spanish.
IOFM’s membership networks, the AP & P2P Network (http://www.app2p.com) and AR & O2C Network (http://www.tarn.com), feature industry research and best practices, metrics and benchmarking data, policies, case studies, tools, templates, and critical compliance and corporate governance resources. The Institute also produces on-demand e-learning resources including video trainings and web-based seminars.
IOFM hosts industry-leading conferences designed to facilitate continuing education and peer networking. These events include the Accounts Payable and Procure-to-Pay Conference and Expo (Spring and Fall), and the Accounts Receivable & Order-to-Cash Conference.
With a universe of over 100,000 financial operations professionals, growing certification and membership programs, and a keen understanding of the issues and content needs critical to the profession, IOFM is the trusted source of information in the rapidly evolving field of financial operations.