Course Description

Both the business world and more specifically, the accounts payable function are going through a massive upheaval. These changes, if not recognized and dealt with appropriately and in a timely manner can have a huge negative impact on any organization’s bottom line. This course takes a deep dive into the developing issues impacting the AP function of every company.  The issues evaluated in this course are critical to those who want to run a cost-effective, efficient, fraud-resistant AP function. 

Learning Objectives:

• Pinpoint problems that arise when best practices are ignored in AP
• Identify how to implement a best practice AP policy
• Learn how to create procedures that address new issues impacting AP function
• Understand how to create a best practice policy to address new invoice receipt issues
• Learn how to develop an efficient process to handle emailed invoices
• Understand how to devise a plan to weed out duplicate copies of the same invoice
• Learn how to implement an ACH payment program
• Identify how to develop a policy to use ACH to handle all Rush payments
• Learn how to build a process to supply remittance information with ACH payments
• Learn how to expand an existing ACH payment program
• Identify how to develop strategies to convince suppliers to accept electronic payments
• Learn how to avoid the hidden surprises that can destroy an ACH payment program
• Learn how to create a best practice receipt requirement policy
• Identify how to use a new receipt policy to deter fraud and identify expense report abusers
• Identify common tricks used by some employees to pad their expense reports
• Understand how to develop procedures to prevent your company from being hurt by ACH fraud
• Learn how to implement a vendor portal to improve AP’s efficiency
• Learn how to utilize a self-service policy suppliers’information
• Understand how to eliminate the possibility of change of account fraud
• Learn how to create a scoreboard to monitor AP activity
• Understand how to utilize big data to better analyze procurement data
• Understand how to take advantage of data analytics to improve payment and payables functions
• Pinpoint all the issues that need to be addressed in a BYOD policy
• Understand how to create a realistic BYOD policy that addresses your company’s needs
• Identify common BYOD concerns and develop policies to address them
• Pinpoint the reasons internal controls fail and address them
• Identify the control problems in the payment process
• Spot the control problems in the AP process
• Detect common control issues around personnel
• Recognize new terminology and technology in use in AP
• Understand how to reorganize the AP function to take advantage of new technology
• Learn how to implement procedures to ensure compliance with all the regulatory issues
• Understand how to create a Dynamic Discounting program
• Pinpoint the skill sets and personnel likely to be successful in AP in the future
• Understand how to implement a customer service approach in the AP department
• Identify the needed skills you or your staff might need

Learning Objectives

• Please see the 'Course Description' for the learning objectives.

Prerequisites

• None