Accounts Payable Planning and Organizing Practices

What Will You Learn?

• Day 1: Introduction to Accounts Payable Management
• Role and Importance of Accounts Payable
• Key Functions and Responsibilities
• Overview of the Procure-to-Pay (P2P) Process
• Regulatory Compliance and Internal Controls
• Day 2: Effective Planning for Accounts Payable
• Developing a Strategic Accounts Payable Plan
• Budgeting and Resource Allocation
• Setting Key Performance Indicators (KPIs)
• Technology Integration for Planning
• Day 3: Organizing Accounts Payable Operations
• Organizational Structures for Accounts Payable Teams
• Workflow Optimization and Process Mapping
• Vendor Master Data Management
• Automation Tools for Organizing Payables
• Day 4: Managing Invoice Processing
• Streamlining Invoice Approval Workflows
• Invoice Coding and Data Entry Best Practices
• Invoice Exceptions and Issue Resolution
• Electronic Invoicing and Document Management
• Day 5: Continuous Improvement and Best Practices
• Establishing a Culture of Continuous Improvement
• Key Performance Indicators (KPIs) for Accounts Payable
• Benchmarking and Performance Metrics
• Final Project: Implementing Planning and Organizing Practices