Managing the Cash Cycle via Accounts Payable Best Practices

Introduction:

This training program will provide participants a leading-edge forum to significantly improve their working capital management skills. They will gain a comprehensive range of very practical and highly effective tools and approaches that can be immediately implemented upon their return to work.

Program Objectives:

At the end of this program, participants will be able to:

• Work effectively with the fundamentals of accounts payable.

• Understand and apply the fundamentals of effective transactional management systems.

• Review and comment on payment methods and cash management.

• Understand the need to incorporate risk and uncertainty into transactional processing and cash flow management.

• Identify best practice across all industries by examining case studies from across the globe.

Targeted Audience:

• Finance Executives.

• Accountants.

• Employees working within Transactional Finance, Accounts Payable or Accounts Receivable process.

Program Outlines:

Unit 1:

Accounts Payable, Financial Accounting, and the Supply Chain:

• Accounting and financial information: Accounts Payable in context.

• Sources of finance.

• The supply chain.

• Financial position and financial performance.

• Cash flow and Working Capital.

• Importance of Cash Flow.

Unit 2:

Achieving World Class in Accounts Payable Processes:

• Defining Best Practice in AP.

• Moving beyond P2P.

• Managing Risk.

• Principles of Best Practice.

• End to End AP Process.

• Defining the issues in Accounts Payable.

Unit 3:

Improving Invoice Processing and Operational Management:

• Invoice Handling and Approval Processes.

• Verifying invoice data.

• Paying “low value” items.

• How to avoid duplicate payments.

• Making the best use of staff time: limiting telephone calls to AP.

• Does Petty cash management belong in Accounts Payable?

Unit 4:

Harnessing Technology in Accounts Payable Processes:

• Master Vendor File Management – getting it right from the start.

• Travel & Entertainment.

• Policy management.

• Cash advances and employee reimbursement.

• Process improvement through imaging and workflow.

• Using the internet for AP effectiveness.

Unit 5:

Making the Payments and Maintaining the Relationships:

• Communications & Customer Relations.

• Payments status information for vendors and internal customers.

• Improving Procure to Pay(P2P)Cycle.

• Payments and Payment Solutions: Accounts Payable or Treasury?