Vendor Management: What Accounts Payable and Purchasing Need to Know and Do

This purchasing and accounts payable training will focus on why you need a comprehensive program to address critical issues associated with vendor management. It will identify critical vendor management issues, provide a comprehensive step by step approach to vendor management and identify best and appropriate practices for managing all aspects of your vendor relationships.

Why Should You Attend:

Companies have often focused on customer relationship management and paid little attention to vendor management. A comprehensive vendor management program can significantly enhance your organization’s bottom line as well as reduce risks and improve policy and regulatory compliance.

This webinar will provide guidance to attendees doing business domestically and internationally who are facing growing challenges related to accounts payable and purchasing issues and risks. It will highlight the areas and the issues to be addressed and the necessary actions to be taken to avoid risk and how to meet these challenges.

Areas Covered in the Webinar:

• Critical Vendor Management Issues
• Why Vendor Management Should be a Strategic Concern
• Vendor Management Goals of Senior Management
• Ownership of Vendor Relationships and Vendor Data
• Segregation of Duties and Operational Controls
• Risk Management

Key Vendor Management Challenges

• Catch and Reduce Fraud
• Know Your Vendors
• Comply With Laws and Regulations
• Know Where You Spend Your Money
• Reduce Duplicate and Erroneous Payments
• Control Costs and Save Money
• Make Accurate and Timely Payments

Supplier Portals

• Types of Portals
• How They Impact Vendor Management
• What They Can and Can’t Do

Best and Appropriate Practices

• Supplier Selection, Authentication and Verification
• Procurement, Processing and Payment Strategies
• Controls, Metrics and Scorecards to Implement As Part of Your Vendor Management Process

Who Will Benefit:

• Accounts payable, purchasing and shared services managers and their staff
• Controllers
• Information technology professionals who support accounts payable and purchasing
• Internal auditors
• Product managers and developers of ERP
• Purchasing and financial accounting systems