Accounts Payable - Planning, Organizing, and Achieving Best Practice

Why Attend

In today’s competitive business environment, organizations across all sectors face the challenge of maximizing efficiency while minimizing resources. This means they must optimize working capital to avoid losing valuable opportunities. A formal working capital strategy enhances cash flow by unlocking trapped funds on the balance sheet, providing the liquidity necessary to support growth, streamline operations, cut costs, improve service levels, and capitalize on new investment opportunities.

Effective management of accounts payable is a crucial component of cash flow management, as businesses cannot thrive without sufficient cash flow. This training course, equips organizations with insights into their performance compared to industry leaders. It also demonstrates how to elevate their services and processes to advanced standards. The course includes documented strategies and tactics used by both successful and unsuccessful companies, illustrating the practical application of each approach in real-world scenarios.

Course Objectives

By the end of the course, participants will be able to:

Who should attend?
• Finance Executives and Professionals.
• Accountants.
• Accounts Payable Managers and supervisors.
• Accounts Payable Personnel.
• Others who are working within accounts payable process.
• Accounts Receivable (AR) Managers.
• AR Staff and Revenue Accountants.
• Billing and Collection Officers, AR Specialists, and Professional accounting and finance staff who interact with Accounts Receivable Operators.
• Those wishing to develop their capabilities in this field.

Knowledge and Benefits:
After completing the program, participants will be able to master the following:
• 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.
• Work effectively with the fundamentals of accounts payable, financial accounting and the supply chain
• Understand and apply the fundamentals of accounts payable systems
• Review and comment on payment methods and cash management
• Analyse the need to incorporate risk and uncertainty into accounts payable analysis