4 Steps to a Great Corporate Payments Process
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4 Steps to a Great Corporate Payments Process

This course covers steps that can be taken throughout the corporate payment process.
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0.0 (0 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
0 students enrolled
Last updated 7/2017
English
Current price: $10 Original price: $25 Discount: 60% off
5 hours left at this price!
30-Day Money-Back Guarantee
Includes:
  • 1 hour on-demand video
  • 4 Articles
  • 4 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Discover steps that could make your Payment Process more efficient and effective.
  • Explore benefits related to improving your payment process one might not have considered.
  • Discover what Positive Pay is and recognize the benefits.
  • Identify the value in using Automatic Clearing House (ACH) to make payments.
  • Recognize options for initiating Wire Transfers.
View Curriculum
Requirements
  • No advanced preparation or prerequisites are needed for this course.
Description

How much thought or effort goes into payment runs within your Accounts Payable operation? This is not a trick question. Has it become routine? Some companies spend too much time on tasks that don’t add value and could adversely affect cash flow while not spending enough time performing checks and balances that could reduce the risks of incorrect payments. This is not to say that things are being done wrong but perhaps things can be done more efficiently and effectively. This course covers steps that can be taken throughout the payment process from selecting invoices for payment to setting up a Positive Pay file process with your bank. As details are supplied, benefits are highlighted. Here are a few:

  • Reduce the risk of amounts being paid to the wrong payee. 
  • Confirm high dollar invoices were properly approved for processing before payment is made. 
  • Improve cash flow - ensure invoices are not being paid too early. 
  • Prevent the risk of fraud: secure the check stock and get rid of rubber stamps 

Another way to reduce the risk of fraud is to implement a Positive Pay process, which is an automated fraud detection tool offered by most banks. This tool should be seriously considered by any company still issuing payments by check.

Whether a company implements these options or not is up to management but they should at least be aware of available options that can help catch errors or areas of non-compliance before they snow ball into bigger issues such as payment to the wrong vendor or unauthorized spend. 

Who is the target audience?
  • Anyone interested in finance, accounting or related fields.
Compare to Other Payments Courses
Curriculum For This Course
12 Lectures
01:07:07
+
Introduction
8 Lectures 01:07:02



Scheduling Payments
02:21

Payment Method Options
08:15

Other Processes to Review
07:16

Conclusion of The Payment Process
01:52

Payment Process: Selection, Review, Approval, Release Continuous Play
33:29
+
Supporting Materials
4 Lectures 00:05
Slides: Payment Process: Selection, Review, Approval, Release
00:01

Payment Process: Selection, Review, Approval, Release Glossary/Index
00:01

Basic Payment Process
00:00

Payment Selection Process Map
00:01
+
Review and Test
0 Lectures 00:00

Review Questions: Payment Process: Selection, Review, Approval, Release

Review Questions
2 questions

Final Exam: Payment Process: Selection, Review, Approval, Release


Final Exam
3 questions
About the Instructor
Illumeo Learning
4.4 Average rating
326 Reviews
1,371 Students
242 Courses
Condensed and Efficient Courses for Busy Professionals

Illumeo, incorporated in 2009, is revolutionizing the hide-bound world of corporate learning. Illumeo works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job.

Based in Silicon Valley, CA, Illumeo serves thousands of corporations and corporate professionals across Finance, Accounting, Human Resources, Sales and Marketing. The platform offers assessments, industry-benchmarked competency analyses, hundreds of expert-developed courses, collaborative tools, and the ability for companies to self-publish internal courses that promote institutional knowledge retention and dissemination.

Illumeo is the place for expertise management and we are dedicated to the proposition that everyone can be an expert at their job.

Anne Wheeler (Illumeo)
4.5 Average rating
5 Reviews
17 Students
8 Courses

I started CS Process Flows, LLC in April of 2016 after a 30+ year career working in various accounting areas. My career in accounts payable started when I was hired as a processor.  Then I worked my way through accounts receivable and general accounting before coming back to accounts payable as a manager.  The challenges presented in Accounts Payable and all of the exciting changes going on in this area over the last few years and into the future are my passion.

My experience includes building new AP operations, identiifying ineffecienies and  implementing solutions in existing teams and being involved with other areas of the Procure to Pay work stream.  I have success in establishing and strengthening relationships with team members within Procurement, IT, and other areas of finance when working on AP related projects and with management of outsourced delivery centers overseas. 

Needless to say, I have learned a lot and I want to share my knowledge with companies that may be just starting to explore some of the options now available. or simply what to improve their current operations.

My experience includes managing up to 25 AP staff members processing upwards of 30K invoices a month, so I am very aware of what it takes to manage transations. I have also managed the implementation of several different types of AP workflow systems over the years, a Concur Travel and Expense reporting system, different Corporate Card programs, including both Purchasing and T & E cards, and ACH payment programs.    My experience also includes a project to outsource check printing and the transition of 7 Tyco Business Units to an outsourced delivery center in India. 

I am an Accredited Payables Manager (APM). 

I hope by sharing what I have learned, I can help you.