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How Manual AP Processes Impact Cash Forecasting Visibility and Financial Closing

HOW MANUAL AP PROCESSES IMPACT CASH FORECASTING VISIBILITY AND FINANCIAL CLOSING

Cost Free
Presentation Length 1.0 hour

Recorded DateJune 23, 2021
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAccounting
Course LevelBasic
Course Description

A manual AP process prevents visibility to cash, impacts precise cash forecasting, and poses several cash management challenges. Additionally, it hinders a timely and accurate financial close since the AP department is never sure of the correct accrual amount and if the liability is stated correctly. Lastly, a manual AP process creates risk since duplicate and erroneous invoices are often processed. These dilemmas emphasize the need for additional internal controls and reviews. If we look at the actual value of time saved in an automated process versus a manual process, it is not just about the ROI but also the hours saved from invoice receipt to financial close.

This webinar analyzes the true value of AP automation throughout financial operations. Attendees will receive the “Time Savings Calculator” as a bonus.

Learning Objectives:


  • Determine the actual value of an automated AP process from cash management to the financial close

  • Recognize the “Time Savings Calculator” as a key tool to use when calculating the true value of an automated AP process

  • Identify other challenges that AP automation can address within finance operations

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Chris held senior finance and controller positions at Digital Equipment Corporation, Compaq, and Hewlett Packard, which allowed her to develop and implement internal control and leading practices for all aspects of financial operations. She was recruited to lead WorldCom (MCI) to implement internal rules, policies, and corporate governance processes. She fine-tuned her consulting experience in the Procure to Pay (P2P) area at APEX Analytix and BSI Healthcare.

As President of Doxey Inc., Chris uses her experience to provide best practice solutions to her clients for the P2P process and financial operations.

She holds a bachelor's degree in English, a bachelor's in accounting, a master's in business administration, and has a graduate certificate in project management.  She is a Certified Accounts Payable Professional (CAPP) and holds a Certification in Controls Self-Assessment (CCSA). Chris is also a Certified Internal Controls Auditor (CICA) and a Certified Professional Controller (CPC).
 

About Our Sponsor

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Tipalti is an accounting software financial technology business that provides consolidated accounts payable and remittance automation services for businesses needing to pay their global suppliers. Tipalti is headquartered in San Mateo, CA with offices in Vancouver, Canada and R&D in Glil-Yam, Israel.