Conference Description:

Course Description :

The accounts payable function is changing at a dizzying pace. Technology, new frauds and regulatory changes are all taking their toll. What worked yesterday may not work today. Given the current business environment, mounting regulatory pressures, and the increased visibility and importance of the accounts payable function, best practices are something with which every professional needs to be conversant. Unfortunately, keeping up to speed these days can be like herding cats. While some best practices remain steadfast, others simply no longer work and are being replaced by new practices just now appearing.
Learning Objectives:

After this session, you will be able to:

Improve your invoice processing
Implement effective payment technologies
Comply with regulatory issues affecting the payment process
Avoid costly mistakes due to spoofed emails
Improve the invoice approval response time
Reduce the number of invoices submitted more than once
Earn more early payment discounts
Minimize the number of request for Rush payments and checks returned to requisitioners
Avoid costly master vendor file practices
Deter fraud (both internal and external)
Identify problems within their existing master vendor file practices
Implement master vendor file best practices that will enable proper TIN solicitation
Identify best control practices for the entire procure-to-pay process
Evaluate your own processes to identify weak controls that need tightening;
Identify frauds that can be prevented through good master vendor file practices
Make their master vendor file fraud-resistant;
Identify and collect all data needed to run an efficient and regulatory compliant AP function;
Address the segregation of duties issue correctly
Identify the types of payment frauds likely to impact your organization
Pinpoint seven common myths that often lull an organization into thinking they don't have to take action against payment fraud
Evaluate the different fraud protection products offered by the banking community
Create the proper controls within your organization so you can stop employee fraud
Address corruption and bribery issues
How to document new vendors
How to handle single purchase vendors in the master vendor file
How to prevent fraud in the master vendor file
What special treatment should you give critical vendors
Dealing with vendors who make nuisance calls
Dealing with unpleasant vendors and more
Who Will Benefit:

Accounts payable manager
Accounts payable director
Accounts payable supervisor
Accounting manager
Controller
Assistant controller
Accounts payable associate
Accountant
Accounting manager
Disbursements manager
Assistant accounts payable manager
Payment professionals
Cash managers
Treasury professionals
Field of Study:

Accounting: 10 CPE Credits
Program Delivery Method: Group-Live
Program Level: Intermediate
Advance Preparation/Program Prerequisites: None