Introduction

This 5-day programme will provide a leading edge forum for you to significantly improve your working capital management skills. You will gain a comprehensive range of very practical and highly effective tools and approaches that can be immediately implemented upon your return to work.

By attending this event, delegates will understand:

• The importance of the accounts payable function with regard to its links with the supply chain and cash flow

• The integrated systems of purchase order processing, stock (inventory) control, purchase ledger and cash payments and their links with the general ledger

• How to effectively manage cash and working capital to reduce costs and improve cash flow

• The impact of risk and uncertainty on the business and its impact on accounts payable and cash flow

• How leading companies from across the globe are achieving best practice in Accounts Payable

 Target audience

This programme provides a user-friendly environment to develop the knowledge and techniques related to both accounts receivable and accounts payable that are valuable for:

• Finance Executives

• Accountants

• Others who are working within Transactional Finance, Accounts Payable or Accounts Receivable process or who wish to develop a practical toolkit to complement their existing professional or technical skills

This programme is also ideal for those wishing to develop their understanding of how Working Capital efficiencies can make a significant improvement to profitability or you may already be employed in any of these functions within the business.

Objectives

• 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 cashflow management

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

Outline

DAY 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

• Why is cash flow so important?

DAY 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

DAY 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?

DAY 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

DAY 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?

The programme will conclude with an interactive case study exercise to allow participants an opportunity to apply the learning of the week and define a practical solution.