The New Accounts Payable Toolkit

A new approach to the entire accounts payable process for the digitized world

The accounts payable process can be very complex, but it doesn’t have to be. Best practices, internal controls, and automation can reduce the complexity of the process and can ensure that payments are accurately made to a valid and compliant supplier. The New Accounts Payable Toolkit provides you with knowledge of best practices, automation, and plans for implementation, so you can bring your company’s accounts payable process up to date. This toolkit focuses on the end-to-end accounts payable process, considers the linkage to the Procure to Pay (P2P) process, and describes the impact of automation.

The accounts payable process is evolving, which means that new and updated best practices are critical. To tap into the value of the accounts payable process current best practices are needed in the areas of metrics, analytics, and spend analysis. This book offers valuable best practices, along with additional online content. The toolkit will also address the current trends in the accounts payable process which include eInvoicing, ePayment, Robotic Process Automation (RPA), Artificial Intelligence (AI) & Machine Learning, and eAccounting.

• Presents a new, modernized approach to the entire accounts payable process, from the establishment of the contract through to fiscal close
• Defines key metrics and analytics for the accounts payable process, and explains how to implement and simplify them using automation technology
• Includes bonus online content, including sample project plans for automation, business case templates, case studies, internal controls templates and checklists, and scorecards
• Enables you to ensure that suppliers are validated, prevent, and detect the payment of fraudulent and inaccurate invoices, prevent duplicate payments, and accommodate a precise fiscal close

This toolkit will provide the best practices, tools, and internal controls that will help to safeguard a company’s cash and other assets. The tools provided will establish the foundation required for current internal controls and compliance that are needed in the accounts payable process.