Automation was supposed to eliminate many of the headaches associated with invoice processing. Unfortunately, automation continues to allow duplicate and erroneous payments to slip through the cracks, leading to decreased efficiency in accounts payable and an increase in the potential for fraud and regulatory noncompliance. This webinar will provide you with practical, advice on how to create an efficient and compliance invoice handling process.
Why you should Attend
In AP Now's recent Invoice survey, respondents identified their most pressing problems regarding the invoice handling process. What is readily apparent is that, despite the promise that automation would eliminate a lot of the headaches experienced with invoice processing that has just not happened.
If these issues are not addressed, the accounts payable function runs less efficiently than it could. But more importantly, duplicate and erroneous payments are more likely to slip in, fraud is facilitated and sometimes regulatory compliance is compromised. That's why we created this session.
Areas Covered in the Session
- Formulate best practices to reduce the impact of common invoice handling problems, including:
- Slow internal invoice approvals
- Invoices without a purchase order number or name of the requisitioner
- Invoices sent to the wrong person or place
- Duplicate submission or invoices
- Invoices missing information
- Early payment discounts lost
- Second invoices with a different invoice number
- Checks sent back to the person requesting payment
- Rush checks
- Improve the invoice approval response time
- Reduce the number of repeat invoice submissions
- Earn more early payment discounts
- Minimize the number of requests for rush payments and checks returned to requisitioners
Who Will Benefit
- Accounts Payable Professionals
- Finance Personnel
- Accounting Professionals
- Small Business Owners
Mary S. Schaeffer a nationally recognized accounts payable expert, founded AP Now, a membership organization focused on creating business intelligence around the accounts payable and payment function. She has written 18 business books and is a frequent and popular speaker at both online and live events.
Schaeffer has created a number of CPE self-study courses, customized training and online training events. Previously she held positions as an Assistant Treasurer for the Equitable Life Assurance Society, a Financial Risk Manager for O&Y and a Corporate Cash Manager for Continental Grain. She has an MBA in Finance from NYU and a BS in Mathematics from York College, which is public university system of New York City.