The Accounts Payable Function of Tomorrow: The Impact of New Technology (Completed)
Date: Friday, September 30, 2022
Instructor: Mary Schaeffer
||12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
||2 hours for CPAs
WOW has there been a lot of change in the standard way the accounts payable function operates in the last few years. Technology is changing the way we live; it’s making our lives easier (and occasionally more stressful) and we are doing things in ways we would never have imagined just a few short years ago. Words like Uber, Airbnb, robotics, and blockchain were not part of our everyday lingo. AI was something science fiction authors wrote about and shared workspaces was an alien concept. But that is the world we live in now. It would be unrealistic to not expect the same changes in our professional lives. And of course, remote or hybrid work is now common place, rather than a privilege for a special few.
Back in the day, when there was a new innovation or technology for the accounts payable function, it was only the very largest companies that were able to afford it. That is no longer the case. Change now impacts all organizations of all sizes generally without a huge financial expenditure. That’s why it’s critical that every accounts payable and accounting professional learn all there is to know about the change coming.
Who Should Attend
Accountants, controllers, accounting managers, auditors (internal and external), Treasurers, CFOs, CEOs, accounts payable professionals, procure-to-pay professionals, and travel managers.
- Where your AP function is today
- Issues likely to hold your AP department back
- Determine what the AP Department of Tomorrow will look like (including possible new jobs for AP and Accounting)
- Asses where AP and Accounting will fit in
- New technologies that will be used (including terminology)
- Project your organization's impact of the evolution of invoice handling
- Make changes in you payment process based on the development in payment methodologies, including new ones that didn't exist a few years ago
- The needed metrics and what all this data will mean in a new technology-enhanced AP World
- Recognize where your AP function is today
- Identify the issues likely to hold your AP department back
NASBA Field of Study
Accounting (2 hours)