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36
ACCOUNTING

How To Find Your Company's Cash Stash

How can you reduce the time it takes to send out invoices? Be the paperwork, advises Sue Gillman of consulting firm Aveus. Pretend you are a document on a journey to the invoicing department, and ask yourself these questions.
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How many people touched me? Every time paperwork passes through a person's hands, it can be delayed. Figure out the minimum number of people who need to handle the invoice, and cut out any extras.

Did I get stuck anywhere waiting to be handled? For each stage of the process, set a time limit by which the paperwork needs to be processed. Otherwise, it risks sitting in a pile on someone's desk for days.

Was I prepared without error? Or did someone have to fix me? Create a checklist for employees so they can make sure the document is complete before handing it off.

Last updated: May 1, 2008




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