In today’s business, organizations are under a lot of pressure to do more with less. This means that organizations cannot afford to squander opportunities to free up working capital. By maximizing the amount of cash held on the balance sheet, you can get the extra cash you need to fund growth, streamline operations, reduce expenses, improve service levels, and seize new investment opportunities as they arise.

The management of the accounts payable (creditors) of an organization is essentially just one aspect of the management of the cash flow of that organization. Since organizations cannot survive without adequate cash flows, it follows that the management of accounts payable is a vital aspect of cash flow management. This training course provides businesses and other organizations with a strong sense of where they stand against industry leaders and shows them how to take their services and organizational processes to state-of-the-art levels. Documented strategies and tactics employed by highly admired companies are presented both successful and unsuccessful to illustrate the real-world functionality of each process and approach. 

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.