What is Accounts Payable (AP) Workflow? How is it different from a Document Management system? The differences between the two are explored in this course.
Discover the different functionality AP Workflow systems can supply including Purchase Order validation, confirmation of account coding and compliance to company specific approval and other business rules.
In this accounts payable training you will learn what due diligence should be performed by the company to identify, and then record, requirements for an Accounts Payable Workflow system.
Discover who should be on the steering committee and project teams. And since an Accounts Payable Workflow tool is not just about Accounts Payable, this discussion will include the role of IT throughout the implementation process. We will also identify the groups of employees who will need access to the system and others who may benefit by being set up as users.
Change management is key in implementing any new system. Discover the steps needed to communicate such an implementation to vendors and to any employees who are involved in the Procure to Pay Work Stream, receive invoices directly from vendors today, or have invoice approval responsibilities.
Course Series
This course is included in the following series:
4 CoursesAccounts Payable Automation
- What to Consider in an Accounts Payable Workflow Solution
- Selecting an Accounts Payable Automation Provider
- No PO, No Pay – Can It Work for Your Organization?
- Creating an Accounts Payable Documentation Management Policy
Learning Objectives
- Explore what an Accounts Payable (AP) Workflow system is and what it is not
- Discover how an Accounts Payable Workflow system can increase efficiency and improve compliance of company specific business rules
- Identify the basic functionality of an AP Workflow system as it relates to validating invoice data against Purchase Order (PO) details or coding and approval supplied by a user
- Discover what due diligence should be performed prior to selecting a tool or vendor
- Explore the steps to be taken for successful change management
Included In Certifications
This course is included in the following Certification Programs:
16 CoursesAccounts Payable Management Certification
- Accounts Payable - Learn the Terminology
- A Deep Dive into the Responsibilities of Accounts Payable Operations
- The Vendor Master – Creating A Solid Foundation for Accounts Payable Processing
- The Basics of 1099's
- Prioritizing Accounts Payable Workload - Divide and Conquer
- Strengthening Vendor Relationships - Steps That Can Be Taken by Accounts Payable
- The Benefits of Reconciling Purchase Order Goods Receipts Not Yet Invoiced
- Reconciling Aged Open Payables and Outstanding Checks
- Benefits of An Accounts Payable Recovery Audit
- No PO, No Pay – Can It Work for Your Organization?
- What to Consider in an Accounts Payable Workflow Solution
- Creating an Accounts Payable Documentation Management Policy
- Communicating the Role of Accounts Payable to Others
- Justifying and Presenting the Needs of Accounts Payable Operations
- The Basics of Project Management for Accounts Payable
- KPIs and Metrics for Accounts Payable Manual Processes
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Prerequisites
No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the course "A Deep Dive into the Responsibilities of Accounts Payable Operations" prior to completing this one.