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Course Code: FNBN 117
467 Course Visits
Strategies for Optimizing Accounting Payable and Receivable
Course Sector:
Finance, Accounting and Banking
Course Dates and Locations
Choose a date and location to book your seat
No.
Date
Days
Location
Fees
Enrollment
01
5 Days
Madrid, Spain $4,950
02
5 Days
Dubai, UAE $4,250
Introduction
Training course introducion / brief
Every organization is under pressure to do more with less – this is a
fact that most business companies are facing today. This connotes that
businesses cannot afford to waste opportunities to free up their working
capital. When it comes to working capital optimization, however,
increasing payables should be a core strategy. More so, businesses have
formal accounts receivable policies that dictate when to bill, how much
to bill and when to collect.
Cash management and inventory.
Unfortunately, not all businesses enforce
those policies effectively – or even adopt the right processes at all.
An effective working strategy on the organization’s account payables and
receivables can deliver the added liquidity needed to fund growth,
streamline processes, reduce costs, enhance service levels and seize new
investment opportunities as they arise. This BOOST training course is
designed to provide participants with relevant strategies that focuses
on focuses on four core strategies: accounts receivable, accounts
payable, cash management and inventory.
Course Objectives
At the end of the training course, participants will be able to
- Gain understanding and apply the fundamentals of effective transactional management systems for accounts payable and receivable.
- Comprehend the need to incorporate risk and uncertainty into transactional processing and cashflow management.
- Identify opportunities and determine the right course of action when facing potentially conflicting outcomes through a strategic approach to accounts payable.
- Analyze and improve existing policies in the organization related to management of accounts payable and accounts receivable.
- Learn best practice across all industries that can be applied to respective organization.
Course Audience
Who is this course for, and can benefit the most
- Executives who have strategic financial oversight of their unit or organization
- Finance-related roles
- Accounting-related roles
- Marketing Managers
- Financial managers
- Affiliate marketing leaders
- Career Enhancers
- Digital Innovators
- Business owner / Entrepreneur
- General / Senior Accountant
- Business Project Manager
- Bank Branch Manager
- Structured Finance Senior Relationship Manager
- Finance Transformation Manager
- Risk Manager
- Investment Analyst
Course Outline
The course aims and learning outcomes
An introduction to Accounts Receivable
- Working Capital and Cash Management
- Understanding “the cost of credit”
- The ‘order to cash’ process
- Understanding “risk” in “credit”
- Accounts Receivable and effective customer service
- Identifying under-performing areas to increase customer satisfaction
- Terms of trading
- Tools and techniques of financial analysis: ratios; trends; common size analysis
- The best performance measure – cash or profit?
- Financial distress and the Altman’s Z score-type analyses
- Trend analysis
- Value added analysis of financial statement
Developing effective strategies to maximise cash collection
- Identifying effective “pre-delinquency” collection campaigns
- Defining “post-delinquency” activities • Customer sensitive collection strategies
- Collection techniques and letter cycles
- Appropriate internal and external escalation steps
- Using work flow management to maximize collector performance
- Eliminating barriers to payment
- Recognizing excuses and delaying tactics
- Providing solutions to non-payment
- Telephone collection techniques
- Negotiation skills for successful collections
- Building relationships with customer
Managing the Receivables Ledger
- Developing effective internal relationships to maximize performance
- Setting targets and tracking performance
- Managing information that dazzles
- Defining meaningful KPI’s
- Latest Developments in Accounts Receivable
- Accounting and financial information: Accounts Payable in context
- Sources of finance
- The supply chain
- Financial position and financial performance
- Cash flow and Working Capital
- Why is cash flow so important?
Achieving World Class in Accounts Payable Processes
- Defining Best Practice in AP
- Moving beyond P2P
- Managing Risk
- Principles of Best Practice
- End to End AP Process
- Defining the issues in Accounts Payable
- Invoice Handling and Approval Processes
- Verifying invoice data • Paying “low value” items
- How to avoid duplicate payments
- Making the best use of staff time: limiting telephone calls to AP
- Does Petty cash management belong in Accounts Payable?
Harnessing Technology in Accounts Payable Processes
- Master Vendor File Management – getting it right from the start
- Travel & Entertainment
- Policy management
- Cash advances and employee reimbursement
- Process improvement through imaging and workflow
- Using the internet for AP effectiveness
- Communications & Customer Relations
- Payments status information for vendors and internal customers
- Improving Procure to Pay(P2P)Cycle
- Payments and Payment Solutions: Accounts Payable or Treasury?
Providers and Associations
Providing the best training services and benefits to our valued clients
Boost certificate of completion
BOOST's Professional Attendance Certificate “BPAC” is always given to the delegates after completing the training course, and depends on their attendance of the program at a rate of no less than 80%, besides their active participation and engagement during the program sessions.
ENDORSED EDUCATION PROVIDER
Flexible deadlines
Customized dates accordance to your schedule
Shareable Certificate
Earn certificate upon completion
COURSE METHODOLOGY
Our Training programs are implemented by combining the participants' academic knowledge and practical practice (30% theoretical / 70% practical activities).
At The end of the training program, Participants are involved in practical workshop to show their skills in applying what they were trained for. A detailed report is submitted to each participant and the training department in the organization on the results of the participant's performance and the return on training. Our programs focus on exercises, case studies, and individual and group presentations.
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