Accounts Payable on Campus: An Update
|
|
- Isabella Wright
- 6 years ago
- Views:
Transcription
1 Accounts Payable on Campus: An Update 1 Mark Krawczyk, CTP Principal, CZYK & Associates 31ST NATIONAL COLLEGE & UNIVERSITY BURSARS SFS CONFERENCE APRIL 23-26, 2017 PONTE VEDRA BEACH, FL SAWGRASS MARRIOTT GOLF RESORT & SPA
2 2 Agenda for Today Speaker Background Level of Experience In the Room Environment Today What is the NOW What is the WHAT WE WOULD LIKE How do we get to GET TO WHAT WE LIKE How to Measure Success BLOCKCHAIN the future? Summary
3 3 Speaker Background Mark Krawczyk, CTP Has worked with Accounts Payable processes for over 40 years Spent 6 years as Assistant Treasurer with the University of Michigan, so he has an understanding of payables in a higher education environment Had responsibility for over $1.2 billion in all types of payables, including monthly payrolls Now works as speaker/researcher/consultant/author on a number of treasury, financial management and change management topics with CZYK & Associates Career spans two centuries of all manner of responsibilities in the treasury/finance arena in higher education, regulated utilities, municipal operations and in the corporate sector
4 4 Level Of Experience in the Room Gauging the Audience Who has functional responsibility for Accounts Payable processing? Who works in Accounts Payable processing? Who interacts/works with Accounts Payable processing? Who is here just to learn and soak up knowledge? Who is never going to raise their hand no matter what? NEXT
5 5 What is the NOW Who has a written policy for their school s A/P process? Who has written procedures for their A/P process? Who owns the A/P process? Is A/P Centralized or De-centralized? What types of payables are included in the A/P process? Who utilizes procurement cards (a.k.a., p-cards )? Who only writes checks for A/P? Who writes checks and creates ACH/electronic payments for A/P obligations?
6 6 What is the NOW Lots of paper invoices Most likely de-centralized on a number of campuses On many campuses an A/P policy does not exist (or has not been updated since the last century) Most A/P processes do have separation of duties for data input & approval for invoices Most likely it is hit and miss on whether a current W-9 or 1099 is on file for each vendor/supplier Most likely it is hit and miss on whether there is a regular review (i.e., quarterly) that a current W-9 or 1099 is on file for each vendor/supplier
7 7 What is the NOW Most likely a process does not exist to evaluate whether to take a trade discount or not (i.e., 2/10, net 30) Many A/P systems still allow the issuance of MANUAL checks Many A/P processes do not address how to handle any type of fraud issues that are encountered Many schools do not have a written policy on how to handle unclaimed property Many schools do not perform timely reconciliation of disbursement accounts to help with the prevention of and/or identification of fraudulent activity Who knows what the document retention requirements are for your school?
8 8 Today What is the NOW How many schools utilize positive pay on disbursement accounts? How many schools KNOW they have up-to-date signature cards/authorization processes for the A/P processes? How many schools DO HAVE any sort of metrics or key performance indicators to gauge the effectiveness/efficiency of the A/P processing system? Is A/P an accounting function (managed within the Controller s group or similar organization) or is A/P in the Treasurer s area (managing the school s liquidity/cash flow?) Who knows the cost per invoice to process your A/P invoices? Does anyone NOT have a problem with duplicate vendor billings/invoices? NEXT
9 9 What We Would LIKE Would it be good to know the cost of invoice processing in the A/P system? Study done in 2009 stated cost ranged from $2.73 per invoice to $11.11 per invoice in higher education Implement appropriate mix of tools and technology Traditional EDI (electronic data interchange & invoicing) Front-end scanning/imaging EIPP (electronic invoice delivery but not just a PDF) Utilize a vendor Web portal Automated work flow process T&E automation system/process Procurement/P-Card program (already in place in many schools)
10 10 What We Would LIKE Investigate Shared Services Centers vs. Centralized A/P Shared Service Centers for A/P are part of an operating unit vs. A/P being a traditional support unit Research possibility of outsourcing the A/P function Outsourcing is gaining in popularity in the corporate sector Is Higher Ed next? That same 2009 study found the following 78% of the respondents DID NOT OUTSOURCE ANYTHING for A/P 6% outsource only data entry 12% outsource scanning/images of invoices 7% outsource the check printing If not already using it, implement Positive Pay for your disbursement account to combat fraud
11 11 What We Would LIKE At a minimum, utilize two-way matching, with three-way matching being the best practice As another best practice, stop issuing manual checks, period Research how you, as an institution, can take advantage of any applicable discounts for paying early As an absolute best practice, segregate duties whenever and wherever possible Ensure a clean vendor MASTER list Ensure a single, consolidated view of your A/P disbursement operations Pay everything you can electronically when possible Same Day ACH Information mostly envisioned as a backup capability NEXT
12 12 Getting To What We Would LIKE Create a Roadmap for Redesign PROJECT DESIGN Identify project scope and expectations and developing an architecture for change BASELINE CREATION Focus on role of people/positions, process and technology Identify and quantify time/costs associated with non-value add activities Identify opportunities to reduce complex process steps by reducing activities Estimate cost savings from cutting unnecessary activities INDUSTRY BEST PRACTICES do the research with peer institutions RE-ENGINEERING USE TECHNOLOGY Assess current and future technology and how new tools could be deployed for improved processes IMPLEMENTATION Development project milestones and responsible parties and monitor performance measures and customer satisfaction
13 13 Getting To What We Would LIKE Process review strategies to consider Build excellence into the business processes by making the process: User friendly Value added Efficient Timely Cost effective Identify and quantify costs and time associated with non-value add activities Identify opportunities to simplify complex steps in the process by reducing unnecessary steps Have a continued focus on customer expectations and results NEXT
14 14 How to Measure Success Develop the analytics necessary for measurement of success Identify Define the components to be measured Review the process Determine what SHOULD be measured Start SIMPLE!!! Ensure the data is available and not too hard to collect Gather Don t start from scratch Use/develop a template to gather the data Include all team members in the process Define the time period for measurement and when to start
15 15 How to Measure Success Develop the analytics necessary for measurement of success (cont.) Analyze Do outcomes make sense? Are there areas of concern? How do results stack up? Determine peer group institutions for comparison Finalize findings/results Report Publish and communicate metrics Compare results and trends over time Use metrics to help fashion the communication
16 16 How to Measure Success Develop the analytics necessary for measurement of success (cont.) Improve Identify areas for improvement (or to stop doing ) Implement appropriate action plans Assign re-defined/identified responsibilities Continuously review best practices/change results for continuous improvement opportunities
17 17 How to Measure Success Sample metrics/analytics for the A/P process (just suggestions, folks!!) Total cost of A/P function as percentage of total revenue Percentage of invoices paid within terms Percentage of invoices paid early Time to resolve a supplier/vendor issue Number of supplier calls Number of emergency payments Number of duplicate payments Number of manual invoices Percentage of W-9s with TIN match exceptions NEXT
18 18 Blockchain The Future This is a quick, blue collar discussion of what Blockchain Technology is and how it might impact the A/P function at your institution.)
19 19 Blockchain The Future It started with Bitcoin
20 20 Blockchain - The Future Bitcoin first appeared in a 2008 white paper authored by a person (or persons) using the pseudonym Satoshi Nakamoto. The white paper detailed an innovative peer to peer electronic cash system (Bitcoin) that enabled online payments to be transferred directly, with no need for an intermediary. Blockchain is a type of distributed ledger (decentralized database) that keeps records of digital transactions. A distributed ledger (unlike a central administrator for a traditional database) has a network of replicated databases, synchronized via the internet and visible to anyone within the network. Blockchain networks can be private (with restricted membership similar to an intranet) or public, like the internet.
21 21 Blockchain - The Future When a digital transaction is carried out, it is grouped together in a cryptographically protected black with other transactions that have occurred in the last 10 minutes, and then sent out to the entire network. MINERS (members in the network with high levels of computing power) compete to validate the transaction by solving complex coded problems. The first miner to validate the block receives a reward (in the Bitcoin realm, for example, a miner would receive Bitcoins.) The validated block of transactions is then time stamped and added to a chain in a linear, chronological order. The entire chain is continually updated so that every ledger in the network is the same, giving each member the ability to prove who owns what at any given time. This block cannot be altered.
22 22 Blockchain The Future
23 23 Blockchain The Future
24 24 Blockchain The Future
25 25 Blockchain The Future Data is centralized with individuals and devices Service providers compete to connect trusted peers Marketplace improvement: increased efficiency of sharing resources and determines a more fair rate of exchange
26 26 Blockchain The Future
27 27 Blockchain The Future
28 28 Blockchain - The Future Current (and potential) uses for blockchain technology include: Smart contracts Crowdfunding Corporate governance File storage Protection of intellectual property Identity management Anti-money laundering (AML) and know your customer (KYC) practices Land title registration Stock trading Voting in elections
29 29 Blockchain - The Future Most investment in blockchain technology has focused on the financial sector. Thirty of the world s biggest banks have joined a consortium to build blockchain solutions. NASDAQ is working on a blockchain powered private market exchange. The basic elements of the current value transfer process have been in place for 150+ years. The need for the middleman in a transaction can be eliminated. Any transaction involving a middleman will be affected by blockchain technology. The blockchain reduces the settlement window for any transaction from X number of days to just a few minutes or hours, at most. Blockchain technology fills three important roles to eliminate the middleman: recording transactions, establishing identity and establishing contracts.
30 30 Blockchain - The Future NEXT
31 31 A Summary The A/P function for higher education is a very critical part of the financial management of the school s operations. However, it is many times lacking in resources to provide efficient, effective and timely production. Change is slow to come to any school. Any change in A/P process or structure will require a champion in senior management of the school to make it happen. New processes, technology and operating circumstances will bring about change in A/P processing whether a school wants to change or not. It is best to be at the forefront of the changes that are coming.
32 32
Payables Management. 2 nd Edition. Steven M. Bragg
Payables Management 2 nd Edition Steven M. Bragg Chapter 1 Overview of Payables... 1 Learning Objectives... 1 Introduction... 1 Transaction Cycles... 1 Organizational Structure of the Accounting Department...
More informationInternal Audit Report Accounts Payable September 2017
Internal Audit Report 17-03 September 2017 City of Sioux Falls Internal Audit Department Carnegie Town Hall 235 W. 10 th Street Sioux Falls, SD 57117-7402 www.siouxfalls.org/council/internal-audit September
More informationAPP2P SPRING CONFERENCE & EXPO
APP2P SPRING CONFERENCE & EXPO Accounts Payable Done Right: Supplier Engagement & Payments Optimization Ernie Humphrey, CTP CEO & COO LEARNING OBJECTIVES Identify and remove inherent barriers to accounts
More informationYou can easily view comparative data and drill through for transaction details.
analyzing financial and operational information (such as number of sales reps, occupancy rates or cycle time), giving you a very powerful business management tool that leverages your financial data. You
More informationP-Cards Done Right. Katie Beatty Community Engagement Manager
P-Cards Done Right Katie Beatty Community Engagement Manager About the NAPCP We are an association committed to advancing YOU and other Commercial Card and Payment professionals worldwide by providing
More informationManaging Risk in Your P2P Process: 10 Ways that Automation Can Help Mitigate Risk
Managing Risk in Your P2P Process: 10 Ways that Automation Can Help Mitigate Risk Chris Doxey, CAPP, CCSA, CICA, CPC President, Doxey, Inc. chris@chrisdoxey.com 571-267-9107 Agenda Introduction to Risk
More information7 Key Attributes to Make Your Shared Service Center or Global Business Services Stand out
May 7-9, 2017 Disney s Yacht & Beach Club Resorts, Florida 7 Key Attributes to Make Your Shared Service Center or Global Business Services Stand out Judy Bicking May 2017 About Your Presenter May 7-9,
More informationAVIDXCHANGE TM USERS CONFERENCE
AVIDXCHANGE TM USERS CONFERENCE Meet Your Speaker Rhonda Greene Solutions Consultant + AP Guru AvidXchange 2 AVIDXCHANGE USERS CONFERENCE Best Practices for AP: Spring Cleaning + Best Practices in a Busy
More informationOptimizing Payments Efficiency, Risk and Incentives March 14 th, 2018
Optimizing Payments Efficiency, Risk and Incentives March 14 th, 2018 Table of Contents The History Where Did We Start? The Future is Now Why is This Important? Balancing Your Payment Environment Payment
More informationRECEIVABLES360 INTEGRATED RECEIVABLES FOR CORPORATIONS
INTEGRATED RECEIVABLES FOR CORPORATIONS ACCELERATE WORKING CAPITAL AND BETTER MANAGE LIQUIDITY WITH STRAIGHT-THROUGH PROCESSING ACROSS ALL PAYMENT CHANNELS. PAYMENT AGGREGATION EPBB Internet Cash PAYMENT
More informationTen Payment Fraud Protections
Ten Payment Fraud Protections 1. Payee Positive Pay a. Provided by banks b. Banks match check serial numbers and dollar amounts against a company provided list of checks issued and only pays those checks
More informationSmarter, Safer, Faster: Payment Strategy with Commercial Card Programs
Smarter, Safer, Faster: Payment Strategy with Commercial Card Programs Evolving features and new applications elevate commercial card programs to meet today s complex payment environment. IN-DEPTH & OUT-FRONT
More informationCash Management Services
Cash Management Services Bank on your time with Cash Management Services 1 2 3 4 5 6 7 8 9 10 Information Reporting Effective cash management at your fingertips. Direct Deposit A better way to pay your
More informationHOW INTEGRATED RECEIVABLES OVERCOMES THE FOUR BIGGEST CHALLENGES IN ORDER-TO-CASH
HOW INTEGRATED RECEIVABLES OVERCOMES THE FOUR BIGGEST CHALLENGES IN ORDER-TO-CASH EXECUTIVE SUMMARY Businesses are demanding more of their treasury departments. Treasury must become a strategic advisor,
More informationWhat Happens When Internal Controls Fail
What Happens When Internal Controls Fail 1 Your Presenters Brian Sanvidge Principal Baker Tilly Ellen Labita Partner Baker Tilly Danielle Callaci Manager Baker Tilly 2 Today s Agenda > What are Internal
More informationTable of Contents. Introduction Study Summary Participants Share AP Customer Service Challenges... 5
Waste Page 1 Table of Contents Introduction... 3 Study Summary... 4 Participants Share AP Customer Service Challenges... 5 Staff Organization for Handling AP Customer Service... 7 Common Inquiries from
More informationAccounts Payable s Hot Yoga Sweating the Details for Aligning Best Practice and Automation for AP Flexibility
Accounts Payable s Hot Yoga Sweating the Details for Aligning Best Practice and Automation for AP Flexibility The webinar will begin shortly. You will hear silence until the webinar begins. Audio is provided
More informationWhy Businesses Love Payables Lockbox
Why Businesses Love Payables Lockbox (And Yours Should, Too!) A whitepaper examining how businesses can streamline accounts payable processing, reduce payment processing time, and lower accounts payable
More informationHackett Advisory Webcast How AR Can Show Invoicing Love to AP Bryan DeGraw, Senior Director February 12, 2015 Agenda Who is The Hackett Group? What does AP and AR have in Common? AR Best Practices that
More informationAdvanced Finance for Governing Board Members. Charter Schools: Advancing the Promise!! 2015 Annual Conference
Advanced Finance for Governing Board Members Charter Schools: Advancing the Promise!! 2015 Annual Conference Governing Body Responsibilities with regard to finance Fiduciary responsibilities outlined in
More informationMaximizing Supplier Adoption Methods for Achieving Perfection in AP When Suppliers are Sluggish
Maximizing Supplier Adoption Methods for Achieving Perfection in AP When Suppliers are Sluggish Jimmy LeFever Director, Research and Consulting PayStream Advisors Today s Presenter Jimmy LeFever Director,
More informationWhy Are These Activities Important?
Best Practices in Budgeting, Forecasting, Cash Flow Management, Accounts Receivable and Accounts Payable Management Presented To: Penn State University - Abington Continuing Professional Education for
More informationFinancial Controls Checklist
Financial Controls Checklist Board of Health: Board of Health for the Leeds, Grenville & Lanark District Health Unit Period ended: Dec. 31/17 Objective: The objective of the Financial Controls Checklist
More informationCivic Systems 17 th Annual Symposium Session Descriptions
Civic Systems 17 th Annual Symposium Session Descriptions Sessions have been broken down into three (3) different tracks Financial Clarity, Utility Billing and Misc. Clarity, and New User Clarity. The
More informationRECEIVABLES360 INTEGRATED RECEIVABLES FOR CORPORATIONS
INTEGRATED RECEIVABLES FOR CORPORATIONS ACCELERATE WORKING CAPITAL AND BETTER MANAGE LIQUIDITY WITH STRAIGHT-THROUGH PROCESSING ACROSS ALL PAYMENT CHANNELS. PAYMENT AGGREGATION EPBB Internet Cash PAYMENT
More informationTreasury Management Solutions
Sales Support T3 Tech Support Team Live Chat @ www.texasbankandtrust.com 903-237-1881 1-800-263-7013 rev 20431 12/2017 Treasury Management Solutions THE TBT DIFFERENCE Established in 1958, Texas Bank and
More informationSpend Control & eprocurement. How Law Firms Can Improve Profitability
Spend Control & eprocurement How Law Firms Can Improve Profitability Spend Control & eprocurement for the Legal Sector The Background Law firms are facing unprecedented pressures on fees, billable hours
More informationThe Changing Role of Treasury
The Changing Role of Treasury California Municipal Treasurers Association April 16, 2014 Kent Morris, MBA,CTP Chief Investment Officer City of San Diego Matt Cammer, CTP Director Bank of the West Overview
More informationThe Future of Accounts Payable
May 7-9, 2017 Disney s Yacht & Beach Club Resorts, Florida The Future of Accounts Payable Presented by: Mark Brousseau May 7-9, 2017 Disney s Yacht & Beach Club Resorts, Florida Accounts Payable Automation
More informationChanging Payment Processes: Impact on Supply Chains. Dr Moira Scerri Associate Professor Renu Agarwal Dr Paul Brown
Changing Payment Processes: Impact on Supply Chains Dr Moira Scerri Associate Professor Renu Agarwal Dr Paul Brown Agenda Supply chains Financial flows Literature review Changes in payment processes Emerging
More information2014 Finance Executive Survey
2014 Finance Executive Survey AN IOFM WHITE PAPER Sponsored by 2014 Finance Executive Survey Contents About IOFM... 3 About the Sponsor... 3 Executive Summary... 4 Key survey findings:... 5 Survey Methodology...
More informationVince Bahl Vice President April 16, International Payments: Enterprise Options for the Global Marketplace
Vince Bahl Vice President April 16, 2008 International Payments: Enterprise Options for the Global Marketplace Introduction to Bottomline Oracle and Bottomline Technologies International Payments Primer
More informationMeasuring the Impact of AP Automation A 5 Step Guide
Measuring the Impact of AP Automation A 5 Step Guide Bottomline Technologies Technology is constantly evolving, with change accelerating seemingly overnight. When the professional networking site LinkedIn
More informationAccount Payable Best Practices
Account Payable Best Practices *** LIMITED TIME OFFER: FREE $100 AMAZON GIFT CARD! *** REGISTER TODAY! The accounts payable function is changing at a dizzying pace. Technology, new frauds and regulatory
More informationFraud Awareness and Prevention
Awareness and Prevention Craig Bodette Awareness and Prevention Craig Bodette Senior Accountant & Member of Construction Team Weber O Brien This session is eligible for 1.5 Continuing Education Hours.
More informationIIA Springfield IL Chapter
Adding Value with Data Analytics IIA Springfield IL Chapter October 14, 2010 0 Jan Beckmann, CPA, ACL Certified Trainer, ACDA jbeckmann@bswllc.com 314.983.1254 1050 N. Lindbergh Blvd. St. Louis, Missouri
More information2019 Details Coming Soon. Get Up to Speed on Real-Time Payments OCTOBER 21-24, 2018 CHAPEL HILL, NC
OCTOBER 21-24, 2018 CHAPEL HILL, NC An exceptional on-campus professional development opportunity Get Up to Speed on Real-Time Payments WHAT OUR ATTENDEES HAVE TO SAY... I found the UNC Treasury Management
More informationGet Up to Speed on Real-Time Payments
OCTOBER 21-24, 2018 CHAPEL HILL, NC An exceptional on-campus professional development opportunity Get Up to Speed on Real-Time Payments WHAT OUR ATTENDEES HAVE TO SAY... I found the UNC Treasury Management
More informationKeep Procure-to-Pay (P2P) Fraud at Bay with Fraud Detection Tools & Techniques
Keep Procure-to-Pay (P2P) Fraud at Bay with Fraud Detection Tools & Techniques Chris Doxey, CAPP, CCSA, CICA, CPC President, Doxey, Inc. chris@chrisdoxey.com 571-267-9107 2 May 7-9, 2017 Chris Doxey, CAPP,
More informationFINANCE FUNCTION PROCESSES AND PERFORMANCE MEASURES
FINANCE FUNCTION PROCESSES AND PERFORMANCE MEASURES NOTE: The following material is intended to provide a brief overview of some finance function processes. This can be used as a high-level reference when
More informationCGI Business Process Outsourcing. for oil and gas companies
CGI Business Process Outsourcing for oil and gas companies Improving efficiency and outcomes With low oil prices driving cost reductions and performance improvement programs, many companies are moving
More informationCollin County Community College District Business Administrative Services Procedures Manual Section 9 Accounts Payable
Revision Log: Collin County Community College District Business Administrative Services Procedures Manual Section 9 Accounts Payable Sub Section Revision Date Summary of Change 9.1 Introduction Accounts
More information20 Ways to Boost AP Efficiency:
20 Ways to Boost AP Efficiency: Strategies For Becoming an AP Hero Jess Scheer Executive Editor, IOFM JScheer@Divcom.com Slide 1 What You All Have in Common 1. You Believe Your Team s Performance Can Improve
More informationSAP Business One designed for all your small and midsize company s needs
SAP Business One designed for all your small and midsize company s needs Whatever your business we ve got you covered Affordable low total cost of ownership Industry solutions tailored to your needs Comprehensive
More informationPAYMENT TRENDS & HOT TOPICS
PAYMENT TRENDS & HOT TOPICS FGFOA Annual Conference June 13, 2016 2016 SunTrust Banks, Inc. SunTrust is a federally registered trademark of SunTrust Banks, Inc. REMEMBER THESE? Communication has changed
More information9/12/2013. CAPITALIZE ON YOUR PURCHASING CARD PROGRAM September 20, Agenda. With a card payment you can:
CAPITALIZE ON YOUR PURCHASING CARD PROGRAM September 20, 2013 Agenda Why Use a Commercial Card? Review the benefits of a card solution Travel Cards Automate expense reporting and gain visibility into spend
More informationThe Future of Accounts Payable
November 12-14, 2017 Bellagio Resort & Casino, Las Vegas The Future of Accounts Payable Presented by: Mark Brousseau November 12-14, 2017 Bellagio Resort & Casino, Las Vegas Accounts Payable Automation
More information2018 State Of Accounts Payable Report
2018 State Of Accounts Payable Report INTRODUCTION EXECUTIVE SUMMARY The sentiments surrounding technologies within finance are evolving into a more mature state. Adoption of solutions that have both operational
More informationBlockchain Unleashed: Petrochemical Industry Impact
Blockchain Unleashed: Petrochemical Industry Impact 1 Business networks, wealth and markets Business Networks benefit from connectivity Participants are customers, suppliers, partners Cross geography &
More informationTurning Accounts Payable and Procurement into a Competitive Advantage What you need to know about the latest advances in technology
Turning Accounts Payable and Procurement into a Competitive Advantage What you need to know about the latest advances in technology CPE Credit Are you planning to apply for CPE credit for attending today
More informationeasy E-INVOICING: IT S TIME TO SWITCH Why moving to e-invoicing is easier, faster and better for your business than ever before.
easy E-INVOICING: IT S TIME TO SWITCH Why moving to e-invoicing is easier, faster and better for your business than ever before. Introduction For all the talk of the paperless workplace, one area has so
More informationMicrosoft Dynamics 365 for Finance and Operations, Business edition CAPABILITIES GUIDE
Microsoft, Business edition CAPABILITIES GUIDE Microsoft THE BETTER WAY TO CONNECT YOUR BUSINESS Microsoft is a business management solution that s connecting people and processes like never before. From
More informationSimplifying your financial supply chain. Payments Unbound.
Simplifying your financial supply chain. Payments Unbound. At WEX we recognize the challenge and responsibility companies have for delivering profitable revenue growth we share a common commitment to support
More informationUNFPA. This policy applies to all UNFPA personnel, particularly those involved in the purchasing and payment of goods and services.
Policy Title Previous title (if any) Policy objective Target audience Risk Matrix Policy and Procedures for Accounts Payable n/a The Policy and Procedures for Accounts Payable policy establishes the procedures
More informationAudit Preparation Best Practices
Audit Preparation Best Practices November 4, 2014 Jeffrey P. Allen, CPA, CGFM Senior Manager Maner Costerisan 5 Audience Poll How many have been through an audit? Multiple times? Why do you have an audit?
More information4 Reasons Organizations Are Taking an End-to-End Approach to Accounts Payable Automation
4 Reasons Organizations Are Taking an End-to-End Approach to Accounts Payable Automation An IOFM whitepaper Sponsored by 4 Reasons Organizations Are Taking an End-to-End Approach to Accounts Payable Automation
More informationSAP S/4HANA. James Wade March 20, 2017
SAP S/4HANA James Wade March 20, 2017 Agenda Introduction to S/4HANA Introduction to Central Finance Demonstration Benefits 2 Digital Finance: What Digitalization Means Digitalization is transforming your
More informationBookkeeping Foundations: Best Practices Church Accounting: Getting Off On the Right Foot E922
Bookkeeping Foundations: Best Practices Church Accounting: Getting Off On the Right Foot E922 Bookkeeping Foundations: Presented by Bryan Baughman 2018 Shelby Systems, Inc. Other brand and product names
More informationFinancial Statement Close Process
Financial Statement Close Process Process Control Objective Risk Control Considerations Segregation of Duties Accounting functions are properly segregated. Unauthorized and inaccurate transactions may
More informationDear Valued Supplier, Re: Shaw Industries Group, Inc. is phasing out paper invoices!
Dear Valued Supplier, Re: Shaw Industries Group, Inc. is phasing out paper invoices! Shaw Industries is very pleased to announce a progressive change in our accounts payable process that will ensure our
More informationBlockchain Unleashed TM Forum 1
Blockchain Unleashed 2018 TM Forum 1 Contents Introduction Catalyst team Blockchain for CSPs Criteria for use case section Use case scenarios Use cases for blockchain in CSPs Use case 1: Elimination of
More informationProcurement Policies & Procedures
Procurement Policies & Procedures 1. Procurement Policy 1.1 Purpose This procurement policy is designed to support the college s procurement strategy. It is supported by senior management and the Board
More informationSupplier Portals 101: What You Need for Effective Supplier Information Management Systems. Aloke Bhandia Sr. Director, Product Management, Lavante
Supplier Portals 101: What You Need for Effective Supplier Information Management Systems Aloke Bhandia Sr. Director, Product Management, Lavante September 18, 2012 Supplier Portals 101 Introduction What
More informationProfytPro ICO CONTENTS
1 ProfytPro ICO CONTENTS ProfytPro ICO CONTENTS... 2 INTRODUCTION... 4 WHAT IS ProfytPro (PFTC) PLATFORM... 5 CORE OBJECTIVES... 6 ADVANTAGES OF BLOCKCHAIN... 7 WHY WE DO TOKEN SALE... 8 TOKEN FUNCTIONS
More informationWelcome. Facilities. Public Meeting. Restroom Cafe
DECEMBER 12, 2018 Welcome 3 Facilities Restroom Cafe Public Meeting Noticed as Public Meeting due to ESC member participation Materials available on Florida PALM web site for public Recording meeting for
More informationAccounts Payable Process Overview. The attached document provides an overview of the following topics:
Accounts Payable Process Overview The attached document provides an overview of the following topics: Process for all payment requests submitted by Accounts Payable from receipt of documentation to issuance
More informationElectronic Invoicing:
Electronic Invoicing: European Union directives bring new efficiencies and cost savings to shipping By: Travis Lachinski, Vice President and Gráinne Fennell, Senior Product Manager Moving from paper to
More informationMicrosoft Dynamics 365 for Financials. CAPABILITIES GUIDE Fall 2016
Microsoft CAPABILITIES GUIDE Fall 2016 Microsoft THE BETTER WAY TO CONNECT YOUR BUSINESS Microsoft is a business management solution that s connecting people and processes like never before. From day one,
More informationUniversity of North Carolina Treasury Management Program October 21-24, 2018
University of North Carolina Treasury Management Program October 21-24, 2018 DAY 1 Sunday, 5:30pm 6:30pm Monday, Registration & Cocktail Reception Carolina Inn Introductions & Program Overview fast Program
More information2019 Curriculum Coming Soon
University of North Carolina Treasury Management Program October 21-24, 2018 DAY 1 Sunday, 5:30pm 6:30pm Monday, 8:30am - 10:00am 10:00am 10:15am 10:15am 11:45am 11:45am - 12:45pm Registration & Cocktail
More informationSECTION III. ACCOUNTING GUIDELINES AND DOCUMENTS
SECTION III. ACCOUNTING GUIDELINES AND DOCUMENTS A. ACCOUNTING GUIDELINES AND DOCUMENTS APPROVED BY THE MINISTRY OF FINANCE For the purpose of implementing the accounting standards based on IAS, the Ministry
More informationAASBO Professional Certificate Program Core Curriculum (All 48 core hours are required)
AASBO Professional Certificate Program Core Curriculum (All 48 core hours are required) 1. Governmental Accounting Overview 2. Understanding Alabama Schools Accounting System 3. Budget and Financial Reporting
More informationWelcome to the topic on purchasing items.
Welcome to the topic on purchasing items. 1 In this topic, we will perform the basic steps for purchasing items. As we go through the process, we will explain the consequences of each process step on inventory
More informationOrder-to-Pay Webinar Series
April 22, 2010 Order-to-Pay Webinar Series Tools and Strategies for Optimizing Working Capital S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L Joseph Murphy, J.P. Morgan JPMorgan Chase & Co.
More informationAGENDA USING CONTINUOUS CONTROLS MONITORING TO MAXIMIZE P2P CONTROLS & RISK PREVENTION. Welcome! 60-second FISCAL Overview. Change in Purchase-to-Pay
USING CONTINUOUS CONTROLS MONITORING TO MAXIMIZE P2P CONTROLS & RISK PREVENTION Welcome! Mike LaDuke AGENDA 60-second FISCAL Overview Change in Purchase-to-Pay Escalation of Fraud Incidences What is Continuous
More informationBest Methods for Invoice Capture
Best Methods for Invoice Capture Jessica Staley Principal Program Manager, Concur Agenda Understand the landscape Explore methods for invoice capture E-Invoices OCR Technology Managed Services Success
More information<Project Name> Business Case
Business Case Author(s) Contributors Department Campus DOCUMENT HISTORY Version Date Person Notes 1.0 ITS Portfolio Management Office Business Case Page 1 TABLE OF CONTENTS
More informationQuickBooks Integration Guide. Version 3.0. Page 1
QuickBooks Integration Guide Version 3.0 Page 1 Table of Contents 1.0 Version Control 3 2.0 Introduction 3 3.0 Pricing 3 3.1 Standard Integration 3 3.2 Advanced Integration 4 4.0 Integration Process 4
More informationBisan Enterprise. Governmental Edition. A New Dimension in Financial Management Applications
Bisan Enterprise Governmental Edition www.bisan.com A New Dimension in Financial Management Applications Bisan Enterprise Governmental Edition A centralized fully integrated Governmental Solution providing
More informationTreasury Management Guide
Treasury Management Guide Preparing your business for success You will continue to receive a high level of customer service from a team of experts committed to helping you meet your financial goals no
More informationPeopleSoft Financial Update & Roadmap
PeopleSoft Financial Update & Roadmap Delivering Continuous Collaboration 3791 Amira Morcos Senior Director Oracle Product Strategy February 28, 2017 Copyright 2017 Oracle and/or its affiliates. All rights
More informationThis Questionnaire/Guide is intended to assist you in decision making, as well as in day-to-day operations. Best Regards,
In an effort to disseminate information and assure that we are in compliance with guidelines caused by the Sarbanes Oxley Act that proper internal controls are being adhered to, we have developed some
More informationModernizing the Payment Process Integrated Payables & SWIFT for Corporates
Modernizing the Payment Process Integrated Payables & SWIFT for Corporates Chad Wallace - VP Head of Payables & Intl Solutions September 22, 2015 Xuan Nguyen - VP Sr. Product Manager Today s Agenda Corporate
More informationFinance Committee, Board of Health Elizabeth Bowden, Interim Director of Administrative Services FINANCIAL CONTROLS CHECKLIST
March 20, 2016 Report To: Submitted by: Subject: Finance Committee, Board of Health Elizabeth Bowden, Interim Director of Administrative Services FINANCIAL CONTROLS CHECKLIST RECOMMENDATION(S): (a) That
More informationKEY PROCESSES. TRAVEL Starts with a Travel Authorization
TRAVEL & EXPENSES KEY PROCESSES TRAVEL Starts with a Travel Authorization Form is used to manage the pre-trip approval of estimated travel costs Form must have a FUTURE date for the travel It will require
More informationACCOUNTS PAYABLE AUTOMATION
1 Introduction Accounting teams across the globe are consistently under-served by antiquated technology, most of which is decades old. They are asked to do more with less. With these pressures and the
More informationCash Disbursement Procedure
ACCOUNTING PROCEDURES Georgia Recreation and Park Association March 2015 Cash Disbursement Procedure The following Cash Disbursement Procedure is the responsibility of the GRPA Office Manager under the
More informationAdvanced Blockchain and Digital Currency Technology This course is presented in London on: 07 February 2018, 11 June 2018
Advanced Blockchain and Digital Currency Technology This course is presented in London on: 07 February 2018, 11 June 2018 The Banking and Corporate Finance Training Specialist Course Objectives Participants
More informationGreentree. Financial Management
Greentree Financial Management Contents Introducing MYOB Greentree Financial Management 3 General Ledger 5 Managing financial entities 7 Financial Reporting Microsoft Excel F.R.E.E. 9 Cash management 11
More informationQuickBooks Integration Guide. Version 3.0. Page 1
QuickBooks Integration Guide Version 3.0 Page 1 Table of Contents 1.0 Version Control 3 2.0 Introduction 3 3.0 Pricing 3 3.1 Standard Integration 3 3.2 Advanced Integration 4 4.0 Integration Process 4
More informationGrow Commercial Client Revenue with FIS Integrated Payables
Grow Commercial Client Revenue with FIS Integrated Payables Matthew Dragiff, SVP Product Management & Client Services Sam Prudhomme, Product Manager, Regions Bank April 13, 2017 Agenda 01 02 03 04 Commercial
More informationSpend Analysis. The Business Case
Spend Analysis The Business Case Contents 3 The Business Case for Spend Analysis 3 What is Spend Analysis? 4-5 What Can You Achieve with Effective Spend Analysis? 6 Why Not To Do Spend Analysis On Your
More informationEnd-to-end Business Management Solution for Small to Mid-sized Businesses
End-to-end Business Management Solution for Small to Mid-sized Businesses Successfully manage and grow your business with a comprehensive, simple, total business management solution for SMBs. The SAP Business
More information26 th Year of Publication. A monthly publication from South Indian Bank. To kindle interest in economic affairs... To empower the student community...
Experience Next Generation Banking A monthly publication from South Indian Bank To kindle interest in economic affairs... To empower the student community... www.southindianbank.com Student s corner ho2099@sib.co.in
More informationFINANCIAL SERVICES DEPARTMENT Strategic Business Plan
FINANCIAL SERVICES DEPARTMENT Strategic Business Plan Mission The mission of the Financial Services Department is to provide compliant accounting, cash management, purchasing, and payment services to City
More informationGLOBAL E-BUSINESS AND COLLABORATION Learning Objectives
Chapter 2 GLOBAL E-BUSINESS AND COLLABORATION Learning Objectives Define and describe business processes and their relationship to information systems. Evaluate the role played by systems serving the various
More informationExact Macola Distribution Pro. Transform your business into an automated, high-yield, efficient operation
Exact Macola Distribution Pro Transform your business into an automated, high-yield, efficient operation Macola Distribution Pro makes it easy to get started and is cost effective to implement Macola Distribution
More informationNETWORKING EVENTS. The SIG Webinar will begin shortly. Once the webinar begins, the sound will come from your computer speakers.
The SIG Webinar will begin shortly. Once the webinar begins, the sound will come from your computer speakers. In the meantime, please take a look at the upcoming SIG networking events listed on the right
More informationPULP FRICTION: The Case for Paper-free P2P. Sponsored by: Pulp Friction: The Case for Paper-free P2P 1
PULP FRICTION: The Case for Paper-free P2P Sponsored by: Pulp Friction: The Case for Paper-free P2P 1 Published April 2013. Copyright 2013 by The Institute of Financial Operations All rights reserved.
More informationAudit Preparation Best Practices
Audit Preparation Best Practices Jeffrey L. Straus, CPA Kyle R. Schafer, CPA Audience Poll How many have been through an audit? Multiple times? Why do you have an audit? Bylaws Loan covenant/grants Member/customer
More information