Managing the Cash Cycle -  Accounts Receivable and Payable Best Practices

Managing the Cash Cycle - Accounts Receivable and Payable Best Practices


Choose from the following table the course date which you would like to attend the course on :

Sart
End
Fees
Venue
Length
18-MAR-2018
29-MAR-2018
9400$
Kuala Lumpur (Malaysia)
Two Weeks
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4-MAR-2018
15-MAR-2018
11400$
London (UK)
Two Weeks
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15-APR-2018
26-APR-2018
15000$
Istanbul (Turkey)
Two Weeks
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15-APR-2018
26-APR-2018
9400$
Dubai (UAE)
Two Weeks
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15-APR-2018
26-APR-2018
13900$
Paris (France)
Two Weeks
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6-MAY-2018
17-MAY-2018
9400$
Kuala Lumpur (Malaysia)
Two Weeks
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27-MAY-2018
7-JUN-2018
11400$
London (UK)
Two Weeks
Click Here
3-JUN-2018
14-JUN-2018
15000$
Istanbul (Turkey)
Two Weeks
Click Here
10-JUN-2018
21-JUN-2018
9400$
Dubai (UAE)
Two Weeks
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3-JUN-2018
14-JUN-2018
13900$
Paris (France)
Two Weeks
Click Here
22-JUL-2018
2-AUG-2018
9400$
Kuala Lumpur (Malaysia)
Two Weeks
Click Here
15-JUL-2018
26-JUL-2018
11400$
London (UK)
Two Weeks
Click Here
26-AUG-2018
6-SEP-2018
15000$
Istanbul (Turkey)
Two Weeks
Click Here
5-AUG-2018
16-AUG-2018
9400$
Dubai (UAE)
Two Weeks
Click Here
26-AUG-2018
6-SEP-2018
13900$
Paris (France)
Two Weeks
Click Here
9-SEP-2018
20-SEP-2018
9400$
Kuala Lumpur (Malaysia)
Two Weeks
Click Here
9-SEP-2018
20-SEP-2018
11400$
London (UK)
Two Weeks
Click Here
14-OCT-2018
25-OCT-2018
15000$
Istanbul (Turkey)
Two Weeks
Click Here
28-OCT-2018
8-NOV-2018
9400$
Dubai (UAE)
Two Weeks
Click Here
14-OCT-2018
25-OCT-2018
13900$
Paris (France)
Two Weeks
Click Here
18-NOV-2018
29-NOV-2018
9400$
Kuala Lumpur (Malaysia)
Two Weeks
Click Here
4-NOV-2018
15-NOV-2018
11400$
London (UK)
Two Weeks
Click Here
9-DEC-2018
20-DEC-2018
15000$
Istanbul (Turkey)
Two Weeks
Click Here
16-DEC-2018
27-DEC-2018
9400$
Dubai (UAE)
Two Weeks
Click Here
9-DEC-2018
20-DEC-2018
13900$
Paris (France)
Two Weeks
Click Here
20-JAN-2019
31-JAN-2019
9400$
Kuala Lumpur (Malaysia)
Two Weeks
Click Here
13-JAN-2019
24-JAN-2019
11400$
London (UK)
Two Weeks
Click Here
3-FEB-2019
14-FEB-2019
15000$
Istanbul (Turkey)
Two Weeks
Click Here
24-FEB-2019
7-MAR-2019
9400$
Dubai (UAE)
Two Weeks
Click Here
3-FEB-2019
14-FEB-2019
13900$
Paris (France)
Two Weeks
Click Here

Introduction

This 10-day programme will provide a leading edge forum for you to significantly improve your working capital management skills. You will gain a comprehensive range of very practical and highly effective tools and approaches that can be immediately implemented upon your return to work.

The programme provides businesses and other organizations with a strong sense of where they stand against industry leaders and shows them how to take their services and organizational processes to state of the art levels.

Documented strategies and tactics employed by highly admired companies are presented both successful and unsuccessful to illustrate the real world functionality of each process and approach.

Objectives

  • Work effectively with the fundamentals of accounts payable, accounts receivable, financial accounting and the supply chain
  • Understand and apply the fundamentals of effective transactional management systems
  • Review and comment on payment methods and cash management
  • Understand the need to incorporate risk and uncertainty into transactional processing and cashflow management
  • Identify best practice across all industries by examining case studies from across the globe.

Contents Day One AN INTRODUCTION TO ACCOUNTS RECEIVABLE

  • Working Capital and Cash Management
    • Managing working capital
  • Cash management and the bank facility (line of credit)
  • Understanding “the cost of credit”
    • Why credit management is important to the survival of businesses
    • The ‘order to cash’ process
    • Understanding “risk” in “credit”
  • Accounts Receivable and effective customer service
    • Identifying under-performing areas to increase customer satisfaction

Day Two CUSTOMERS AND TRADING TERMS

  • Terms of trading
  • Customer credit evaluation
  • 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
  • Common size (or horizontal) trend analysis of financial statements
  • Vertical trend analysis of financial statements
  • Segmental analysis of financial statements
  • Value added analysis of financial statement

Day Three 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

Day Four PRACTICAL COLLECTION TOOLS AND TECHNIQUES

  • Eliminating barriers to payment
  • Good practice in billing management
  • Managing customer queries
  • Recognizing excuses and delaying tactics
  • Providing solutions to non-payment
  • Litigation and recoveries
  • Telephone Collection Techniques
  • Negotiation skills for successful collections
  • Communicating and listening skills
  • Building relationships with customers

Day Five 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

Day Six ACCOUNTS PAYABLE, FINANCIAL ACCOUNTING AND THE SUPPLY CHAIN

The Accounting Environment

  • Accounting and financial information
  • Accounting terminology
  • Sources of finance
  • The supply chain
  • Financial position and financial performance
  • Cashflow and Working Capital
  • Why is cashflow so important?
  • The structure of the statement of cashflows

Day Seven ACHIEVING WORLD CLASS IN ACCOUNTS PAYABLE PROCESSES

Achieving Best Practice

  • 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
  • Operational
  • Master Vendor File Management
  • Travel & Entertainment (T&E)
  • Technology
  • Communication

Day Eight IMPROVING INVOICE PROCESSING AND OPERATIONAL MANAGEMENT

Invoice Handling

  • Dealing with Approvals
  • Forwarding invoices
  • Verifying invoice data
  • Short paying invoices
  • Paying “low value” items
  • Identifying “Unidentified” invoices
  • Handling invoices without invoice numbers
  • Operational
  • How to avoid duplicate payments
  • Limiting telephone calls to AP
  • Petty cash management
  • Using Supplier statements

Day Nine HARNESSING TECHNOLOGY IN THE AP PROCESSES

Master Vendor File Management

  • File setup  – getting it right from the start
  • Naming conventions
  • File maintenance and security issues
  • Travel & Entertainment
  • Policy management
  • Cash advances
  • Reporting forms
  • Handling receipts
  • Reservation management
  • Employee reimbursement
  • Technology

    • Imaging and workflow
    • Using the internet for AP effectiveness
    • Electronic invoicing

Day Ten MAKING THE PAYMENTS AND MAINTAINING THE RELATIONSHIPS

Communications & Customer Relations

  • Payments status information for vendors
  • Communicating relevant information to vendors
  • Communicating with internal customers
  • Improving Procure to Pay(P2P)Cycle

Payments and Payment Solutions

  • Cheques
  • Procurement Cards

Cash Management

  • A case study exercise to allow participants an opportunity to apply the learning of the week and define a practical solution

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