Accounts Payable - Planning, Organising and Achieving Best Practice

Why Attend

In today's competitive business environment, organizations across all sectors are pressured to achieve more with fewer resources. This urgency highlights the importance of optimizing working capital to unlock cash tied up on balance sheets. A well-defined working capital strategy can enhance liquidity, allowing businesses to fund growth, streamline operations, reduce costs, improve service levels, and capitalize on new investment opportunities. Effective management of accounts payable is a crucial component of cash flow management, as organizations cannot thrive without sufficient cash flow. This training course equips businesses with insights into their performance compared to industry leaders. It showcases documented strategies and tactics from renowned companies, illustrating both successful and unsuccessful methods to enhance organizational processes to state-of-the-art levels.

Course Objectives

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

Who should attend? 

• Finance Executives and Professionals 
• Accountants 
• Accounts Payable Managers 
• Accounts Payable Supervisors 
• Accounts Payable Personnel 
• Others who are working within accounts payable process or who wish to develop a practical toolkit to complement their existing professional or technical skills 
• Accounts Receivable (AR) Managers. 
• AR Staff, AR and Revenue Accountants.  
• Billing and Collection Officers, AR Specialists and Professional accounting and finance staff who interact with Accounts Receivable Operators. 

How attendees will benefit? 

After completion of the programme, delegates will be able to understand: 

• 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 
• Identify best practice across all industries