This training program will help attendees examine if their AP department matches world-class standards. Attendees will learn key success factors to an optimal accounts payable operation. They will also gain in depth knowledge on the must-have technologies for any AP operation and learn how to design processes to fully leverage those capabilities. The webinar will also discuss balancing controls with efficiency and how to create a fraud-proof department. Attendees will learn about the most important metrics for any AP department and how to develop strategies to improve those metrics.
Why Should You Attend:
Updates and challenges in the industry addressed in the webinar will include:
- Accounts payable departments are changing as new technologies eliminate many transaction based tasks. They must evolve to create processes that leverage these technologies to provide better controls and increased efficiency. During this session, the webinar instructor will discuss the many challenges that accounts payable departments face and how to rise above those challenges to create a world-class AP operation.
- AP departments face many technology options, however, budgets are limited. Selecting the right technologies to prioritize and implement those technologies is a concern for AP leaders. This session will review the variety of technologies and discuss the functionality that is essential to a successful AP operation.
- Fraud and mistakes can be very costly and every AP department is at risk. However, controls can slow down AP operations and impact the ability to properly serve internal and external customers. The course will discuss the most important controls, and how to balance these controls with the need to be efficient.
- AP leaders need information in order to be able to make the best possible decision and to identify and address bottlenecks in the procure-to-pay process. Measuring the right metrics will allow an AP department to implement changes to improve service. This session will also discuss the right metrics to measure and how to create a culture of continuous improvement within your AP operation.
Strategies discussed will apply to companies of all sizes, from large organizations operating in shared service centers as well as smaller organizations or those with de-centralized operations.
Areas Covered in the Webinar:
- Modern AP department challenges
- Must-have AP technologies
- How to select and implement these technologies
- Impact of technologies on process design
- Creating controls to reduce the risk of fraud or costly errors
- AP customer service concepts and techniques
- Payment strategies to improve cash flow and create revenue
- The changing role of AP
- Metrics that every AP department should use
- Developing an improvement strategy around metrics
- Changing the perceptions of AP within your organization
Frequently Asked Questions:
- Do you have any data about average offshore AP cost per invoice vs. onshore cost per invoice?
Who Will Benefit:
- Accounts Payable Managers and Directors
- Chief Financial Officers
- Vice Presidents of Finance
- Procure to Pay Leaders
- Shared Service Leaders
- Treasury Leaders