Sharing your knowledge is regifting at its best.

December 16, 2014 Lynn Larson

Is it ever okay to regift, as in giving a gift you have acquired to someone else? Many websites address this delicate topic, but, in the professional world, I think the answer is simple. Regift your knowledge. The beauty of it is, as the giver, you retain something valuable, but others receive value, too.

When I started in the Purchasing Card arena more than 16 years ago, I had no prior card experience, so I embarked on a quest for knowledge. Fortunately, I encountered many people who were willing to spend time teaching me about things relevant to P-Card program management. Knowledge sharing is something we can all do (see related blog post on leadership). It is what drove me to launch this company last January.

Part of the mission of Recharged Education is making Commercial Card education readily accessible to all at little to no cost. The industry as a whole is stronger when end-users, providers and suppliers possess the fundamentals to help make card programs successful.

I’m excited to wrap up the year with more than 30 posts to the P-Cards Refocused blog and other free education on many different topics. Go ahead and regift the Recharged Education URL (www.recharged-education.com) to other industry professionals! I look forward to expanding the offerings in 2015.

Sharing with others what we learn is the best form of regifting.

A Note of Gratitude

I thank the individuals who have contributed to the complimentary online content this year: Jeff Avery and Paul Sammer, Jennifer Clark, Dan DeBraal, Matthew Dragiff, Greg Evans, Steve Evans and Paul Musselman, Jack Jania, Tiffany Lovelace, Dan O'Neill, Richard Palmer. Contributing industry providers include: Bora Payment Systems LLC, First Annapolis, Gemalto, LIMA3 Systems, RPMG Research Corporation, SunGard, Wind River Financial.

About the Author

Blog post author Lynn Larson, CPCP, is the founder of Recharged Education. With more than 15 years of Commercial Card experience, her mission is to make industry education readily accessible to all. Learn more…

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Two key P-Card topics resurface in Dr. Palmer interview.

December 9, 2014 Lynn Larson

In what two areas do organizations often face challenges? During my recent interview with Dr. Palmer, RPMG Research, about their 2014 Purchasing Card study results, two hot topics were controls and supplier acceptance of card payments. Both could contribute to a plateau in card use; as he explained:

a constant reconsideration of how to exercise appropriate control over spending causes changes in the policies, procedures, and practices related to card use
the desire to use cards often runs ahead of supplier acceptance in the market

What can we do about these issues to avoid a plateau and increase the value of P-Card programs? Below are more observations plus suggestions from Dr. Palmer.

Controls

Organizations reflexively move toward a “belt and suspenders” concept of control that is both unnecessary and inefficient. Program managers need to be thought leaders who work with, and enlist the support of, other thoughtful associates in the finance function to construct the right blend of controls for card-based procurement. In an era of constrained resources, one should be able to make a compelling case for the technology-enabled controlled growth of P-Card spending.

See related blog post on how to reassure management about your P-Card controls.

Ensure your P-Card program offers the greatest value at the lowest cost. Follow best practices, including those pertaining to controls and working with your suppliers.

Supplier Acceptance

It is very important, particularly in the “business-to-business” segment of the market, that card issuers and card-using organizations quantify and educate suppliers on the beneficial aspects of acceptance. Absent a clear demonstration of value and education, suppliers will focus on the costs of card acceptance and remain unaware of, or ignore, the benefits. Articulating and measuring the benefits will insure an open and honest discussion.

With respect to the level of supplier enablement, we did find that “best practice” organizations were more likely to have requested and obtained the support of their card issuer in expanding card acceptance.

See related blog post by AOC Solutions, including a quote from Recharged Education, about raising the bar on supplier enrollment in regard to electronic accounts payable (EAP).

Learn More

Read the two-page interview with Dr. Palmer in which he also describes key opportunities for the majority of organizations, including EAP, and shares what keeps RPMG motivated to conduct the industry studies.

About the Author

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When reorganization is a good thing for your career.

December 4, 2014 Lynn Larson

What does reorganization mean to you? In the workplace, it often means a disruption or forced change, but there is a different side. In your professional life, it can mean a renewed focus on working smarter and initiating positive change.

I have been reading the book The Organized Mind—Thinking Straight in the Age of Information Overload by Daniel J. Levitin. After the science-heavy content in part one, it flows with stories and common sense advice to help anyone reorganize how they work and live to achieve greater focus and efficiency.

Manage Your Time

Like Bob Kodzis, the keynote speaker I heard in May (see related blog post), Levitin confirms the myth of multitasking, explaining how it:

makes us demonstrably less efficient
increases adrenaline and the stress hormone cortisol

Cell phones and electronic communication have worsened the multitasking epidemic, conceiving the expectation that people should be reachable all the time. Levitin warns that our constant email activity “gives us a sense that we’re getting things done and, in some cases, we are. But we are sacrificing efficiency and deep concentration when we interrupt our priorities with email.” He and other experts recommend:

setting aside a few concentrated times during the day to address email
utilizing email filters and other tools to organize and prioritize
training friends and coworkers to not expect immediate responses to every message

Externalize Information to Clear Your Mind

Our brains can only remember so much. Levitin reminds readers to off-load information to external sources. Making to-do lists and jotting ideas when you think of them are standard tactics. Extending the practice to your business contacts will help you keep track of people.

Record when you last connected with someone and what you discussed, including any personal tidbits. This can jump-start your next communication. If you can also add a personal touch (“How is your garden doing?”), it demonstrates your interest in the person, which can strengthen the relationship.

Choose change. Take steps within your professional life to reorganize and work smarter.

Reorganize Your Work Environment

A clear, organized mind also needs an orderly environment (physical and electronic) in which everything has a designated place. Levitin encourages readers to carefully create categories and then sub-divide. This approach is a stress reliever and time saver. Now comes the P-Card tip...

If you manage a P-Card program, apply categorization to your policies and procedures. Some organizations fail to begin their P-Card P&P with a table of contents (TOC), which makes content harder to find. Others include a TOC that is too short or vague to provide any real value. As I suggest in my P-Card P&P guide, develop a TOC that:

offers meaningful primary topics and sub-topics
arranges topics in a logical order
reflects what users seek

Think about what you experience regularly, such as frequently asked questions and common mistakes. Make those topics more prominent.

Finally, if you find yourself at the receiving end of unwelcome workplace reorganization, embrace the concepts above—managing your time, incoming information and environment—to focus on initiating a brighter future.

See also a related blog post about rediscovering the leader within you.