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Best Practices in Invoice Processing

Learn how to reduce cost and gain techniques to add value to your organization through advancing and optimizing invoice processing functions.

Accounts Payable (AP) departments can often be ignored, with the only expectation being they continue to process paper invoices as they have for years. New Enterprise Resource Systems (ERP) often bring technology advances, but there's so much more that leaders can do to turn a department known for their mundane, repetitive functions into providing strategic support to any organization. This course can help AP staff better understand their importance in the organization and provide them with invoice processing best practices. AP leaders will receive insight into the latest advances in technologies and operating procedures to advance the performance and importance of AP in their organizations. You will also learn how to reduce cost and gain techniques to add value to your organization through advancing and optimizing invoice processing functions.

65 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Invoice Processing Overview

  • Invoice Types
  • Invoice Matching
  • Invoice Approvals

Invoice Processing Best Practices

  • Electronic Data Interchange (EDI)
  • Scanning (OCR)
  • AP Automation
  • Move From Mundane and Repetitive to Strategic
  • Performance Metrics

Additional Invoicing Considerations

  • Freight, Shipping, Handling
  • Sales Tax
  • AP Audits
  • Credit Processing

Make AP a Strategic Partner

  • Build on the Relationship With Purchasing
  • Create Savings Goals
  • Become an Organizational Subject Matter Expert
  • Manage Supplier Discount Terms
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More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on March 16, 2022.

Call 1-866-352-9540 for further credit information.

  • AIPB 1.0
     
  • This program is acceptable for 1.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • ISM 1.0
     
  • Participants who successfully complete this program will receive 1.0 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Andy Lamb, C.P.M.

Andy Lamb, C.P.M.

Andy Lamb Associates LLC

  • Owner of Andy Lamb Associates LLC
  • Continues his full-time career concentrating on advancing supply chain, procurement, and invoice processing functions
  • Over 30 years’ experience working in private, public, and nonprofit organizations
  • Advisor to the UC San Diego Extension - Supply Management Certification Program
  • Member of the Institute for Supply Management (ISM) and the Association for Healthcare Resource & Materials Management (AHRMM)
  • Achieved Certified Purchasing Manager (C.P.M.) lifetime certification status in 2012
  • Can be contacted at [email protected] or 802-345-5861
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More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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  • State Specific Credit Tracker
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Product ID: 409574
Published 2022
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