By jaison.mathew@…, 26 June, 2022
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AP process with AI-powered vendor invoice management webinar
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Transform your AP process with AI-powered vendor invoice management
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AP process with AI-powered vendor invoice management
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Transform your AP process with AI-powered vendor invoice management
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On-Demand Webinar
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AP process with AI-powered vendor invoice management
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26th THURSDAY | MAY | 2022 | 10:00 A M CST
Description
Processing an invoice involves an ecosystem that spans multiple functions, with stringent monitoring and tracking ensuring audit requirements and compliance. Many firms have invested significantly in accounts payable automation solutions, but these solutions still require significant manual interventions. In today’s competitive business environment, organizations are compelled to do more with less. Optimizing the accounts payable process is essential to free up trapped working capital.
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AI-powered finance transformation
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Core Capabilities for an Optimized Accounts Payable Process
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  •  Establish a single platform to receive invoices from disparate sources
  •  Maintain a single platform to process and track invoice journey
  •  Maintain a detailed audit trail of an invoice for compliance and audit requirements
  •  Identify and eliminate errors, duplicates, and fraud before processing
  •  Ensure timely payment to suppliers leveraging maximum early pay discount and no late fee payments
  •  Enable collaboration with suppliers for improved supplier relationship management
  •  Design and implement appropriate exception handling mechanisms and business rules
  •  Improve real-time reporting and monitoring of invoices
  • Automating singular tasks (through RPA, or custom programs) improves the productivity of individuals in the AP team. But the best practices advocate for certain capabilities that empower the AP team with holistic management of invoice processing throughout the invoice journey.
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invoice management dashboard
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Key Takeaways
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  • Adopt a holistic Invoice Management Approach and Solution rather than just automating manual tasks
  • Identify Process Improvement opportunities for your accounts payable process
  • Calculate incremental value imparted by an Invoice Management Solution through financial terms(reduced expenses, more savings, increased working capital, and overall cash flow)
  • Identify key capabilities to streamline your AP process resulting in financial gains for your business
  • Curate and select an Invoice Management Solution just for your business needs
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Speakers List
Maha Feghali-Vartanians
Richard Pascoe
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