How Manual AP Process Impacts Forecasting Visibility & Financial Close

Presented by

Christine Doxey, CAPP, CCSA, CICA, CPC

About this talk

A manual AP process prevents visibility to cash, impacts precise cash forecasting, and poses several cash management challenges. Additionally, it hinders a timely and accurate financial close since the AP department is never sure of the correct accrual amount and if the liability is stated correctly. Lastly, a manual AP process creates risk since duplicate and erroneous invoices are often processed. These dilemmas emphasize the need for additional internal controls and reviews. If we look at the actual value of time saved in an automated process versus a manual process, it is not just about the ROI but also the hours saved from invoice receipt to financial close. Learning Objectives: Determine the actual value of an automated AP process from cash management to the financial close Identify other challenges that AP automation can address within finance operations

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Tipalti is the only global payables automation solution to streamline all phases of the AP and payment management workflow in one holistic cloud platform. Tipalti makes it painless for accounts payable departments to manage their entire supplier payments operation. The solution addresses everything from supplier onboarding and vetting, to tax and regulatory compliance, invoice processing, payments to suppliers anywhere in the world in a wide range of payment methods and currencies, supplier payment status communications, to closing the loop with payment reconciliation and reporting.