COVID-19 has impacted all companies. It has destroyed conventional business norms. Companies have been forced to operate in remote environments and examine all of their processes, procedures, organization & controls as they have struggled to survive during COVID-19. All must now create new business norms for post-COVID-19. The lessons learned during COVID-19 provide an excellent foundation for the creation of new norms. Attendees will learn and understand how to use technology to connect WFA activities & events to control expenses & cash. Attendees will also understand how to use technology to inhibit fraud waste & misuse.
This webinar covers how to control expenses & cash with technology in three steps. COVID-19 revealed gaps in expenses & cash flow management processes and procedures
Accounts Payable & Receivable are the key systems in efficient expense & cash management
Accounts Payable & Receivable must be united on technology platforms to transform activities from documents (cycles/processes) to date (transactions)
Waste fraud & misuse must be pursued proactively in the processes of Accounts Payable & Receivable with interactive transactions review using advance technology.
The Webinar provides three essential steps to make all this happen.
Step#1: Create a technology platform for interactive integration of transactions to control expenses & cash and prevent fraud waste & misuse
Step #2: Transition to transactions-based processes & procedures with real time interactive visibility & controls
Step #3: Implement robust transactions based internal controls with forensic accounting attributes to prevent/detect waste, fraud & misuse with special emphasis on employee reimbursements & travel & entertainment expenses
Each step in broken into three pieces:
Rationale: The reason for the Step
Objectives: Expected accomplishments
Actions: Specific action steps