Top 5 Tips to Reduce Payment Errors and Improve Processes in Your Accounts Payable
1 hour 40 minutes
Learn how to transform the accounts payable function for your business.
Organizations leak billions of dollars each year stemming from errors made during the procure-to-pay process. Causes to these leaked funds can often be tricky to pinpoint requiring third-party analysis to uncover root causes. This material will review the top five areas that can help accounts payable (AP) departments greatly reduce leaked funds by preventing errors from occurring in the first place. Awareness of these errors is the first step to prevention. Gain insight into these areas and tips to putting prevention methods in place.
• You will be able to explain the importance of clear and consistent communication between supply chain and AP to reduce errors causing leaked funds.
• You will be able to identify errors in your AP workflow that leads to lost funds.
• You will be able to recognize when errors occur or are about to occur to prevent or quickly fix them before your organization loses funds.
• You will be able to review your payment data for errors to recover lost funds internally.