In today’s competitive business landscape, organizations face immense pressure to achieve more with fewer resources. This means that companies cannot afford to waste opportunities that could enhance working capital. By maximizing cash reserves on the balance sheet, organizations can secure the funds needed for growth, streamline operations, reduce costs, improve service levels, and capitalize on emerging investment opportunities.

Effective management of accounts payable is a crucial component of overall cash flow management. Since adequate cash flow is essential for organizational survival, managing accounts payable becomes vital. This training course at the British Academy For Training And Development equips businesses with insights to benchmark against industry leaders and elevate their services and processes to advanced standards. The course presents documented strategies and tactics from highly regarded companies, showcasing both successful and unsuccessful approaches to illustrate the practical application of each method.

Who Should Attend?

• Financial professionals and executives.
• Accountants.
• Accounts payable managers.
• Accounts payable supervisors
• Accounts payable clerks.
• Those working in accounts payable operations, who wish to develop their technical and professional skills.
• Accounts payable managers.
• Debt and collection clerks and accountants.

Knowledge and Benefits:

After completing the program, participants will be able to master the following:

• The importance of the accounts payable function, in relation to its links to the supply chain and cash flows.
• Integrated systems for processing purchase orders, inventory control, ledger, cash payments and their links to the general ledger.
• Effectively manage cash and working capital to reduce costs and improve cash flow.
• The impact of risk and uncertainty on workflow, accounts, and cash flow.
• Experiences of leading companies around the world, and how to achieve the best results in terms of accounts payable.
• How to work effectively with the basics of accounts payable, financial accounting, and supply chain.
• Understand and apply the basics of accounts payable systems.
• Review and comment on payment methods and cash management.
• How to incorporate risk and uncertainty into accounts payable analysis. Identify best practices across industries.

• Introduction to Accounts Payable
  • Definition of accounts payable and its importance in business.
  • Difference between accounts payable and other accounts.
• Systems and policies
  • Develop effective policies for managing accounts payable.
  • Accounting systems used (such as ERP).
• Financial statement analysis
  • How to read and understand financial statements.
  • Financial performance analysis tools.
• Invoice management
  • The process of receiving and processing invoices.
  • The importance of accuracy in documenting invoices.
• Payment schedules and liquidity management
  • How to prepare payment schedules.
  • Liquidity management strategies to ensure timely payment of obligations.
• Strategic planning
  • How to develop a strategic plan for managing accounts payable.
  • Define goals and metrics to measure success.
• Organization techniques
  • Work organization methods to improve efficiency.
  • Using modern technology and tools.
• Supplier relationship management
  • Strategies for building positive relationships with suppliers.
  • How to negotiate payment terms.
• Tackling problems and challenges
  • Identify common challenges in managing accounts payable.
  • Strategies for dealing with disputes and problems.