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Invoice Handling Problems: How Best Practice Organizations Address them

Automation was thought of as being a panacea for the ills that plague the system of invoice processing. However, the system comes with inherent issues, such as duplication, an undesirable byproduct of technological glitches. Automation, unless done rightly, does not prevent erroneous payments from seeping through the system, leading to double payments whenever there is invoice duplication.
So, how do organizations ensure that this fallacy is addressed and eliminate inefficiency in their Accounts Payable? How do they ensure compliance with the regulations and prevent fraud? This is the learning a webinar from Traininng.com, a leading provider of professional training for all the areas of regulatory compliance, is going to impart.
Mary S. Schaeffer, Founder of AP Now, will be the expert at this valuable webinar, which is being organized on October 29. Please enroll for this learning by visiting https://www.traininng.com/webinar/invoice-handling-problems:-how-best-practice-organizations-address-them-201085live
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The objective of this webinar is to offer participants practical advice on how to create an efficient and compliance invoice handling process.
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A recent invoice survey conducted by AP Now, the firm owned by the expert at this webinar, showed that respondents felt that the failure of automation to deliver what it promised is their most pressing problems regarding the invoice handling process.
Unless automation raises itself and reaches a level where it can address these issues, there would be total lack of efficiency in the Accounts Payable function of organizations. Double and flawed payments will continue to happen, and compliance will be compromised on.
This session will show to overcome these problems by suggesting what could be put in place. Aimed at the benefit of Accounts Payable professionals, finance personnel, accounting professionals and small business owners, this session will cover the following areas:
  • Formulate best practices to reduce the impact of common invoice handling problems, including:
    • Slow internal invoice approvals
    • Invoices without a purchase order number or name of the requisitioner
    • Invoices sent to the wrong person or place
    • Duplicate submission or invoices
    • Invoices missing information
    • Early payment discounts lost
    • Second invoices with a different invoice number
    • Checks sent back to the person requesting payment
    • Rush checks
  • Improve the invoice approval response time
  • Reduce the number of repeat invoice submissions
  • Earn more early payment discounts
  • Minimize the number of requests for rush payments and checks returned to requisitioners.
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About the expert: Mary S. Schaeffer is a nationally recognized accounts payable expert. Her firm is a membership organization focused on creating business intelligence around the accounts payable and payment function.
In addition to having written 18 business books, Mary has created a number of CPE self-study courses, customized training and online training events. She is a frequent and popular speaker at both online and live events.
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