Transcript Slide 1

Adjusting to the New Normal in AP
Session 1
About the Speaker
Phil Binkow
CEO
Financial Operations Networks
Phil is founder and CEO of The Accounts Payable Network (TAPN) – the leading
resource for individuals with management and oversight responsibility for
accounts payable operations. Before starting TAPN, Phil founded and served as
CEO of PayTECH, an electronic payables processing, disbursements and
information services provider serving Fortune 1000 companies.
Phil holds a B.A. in economics from Stetson University and an MBA in operations
research from the University of Florida. He serves on the Board of Directors of the
Specialized Information Publishers Association, the SIPA Foundation and as
president of the Board of Trustees of Friends of North Springs High School, a
non-profit 501(c)(3) foundation.
Slide 2
©2010 Financial Operations Networks LLC
FON at a glance
• Founded 2002
• Launched TAPN
January 2003
• 3,500 members
• 38,000 users
Slide 3
©2010 Financial Operations Networks LLC
FON at a Glance
Certification
Slide 4
©2010 Financial Operations Networks LLC
The New Normal in AP
• Economic drivers
• Consumer activity
• Stimulus activity
• Internal drivers
Slide 5
©2010 Financial Operations Networks LLC
Increased Pressures
• Productivity
• Cash management
• Compliance
• Risk management
and internal controls
• Relationships
• Possibly, future costs
Slide 6
©2010 Financial Operations Networks LLC
Increased
Resource Scarcity
• More work
• Less time
• Staff cuts
• Budget
constraints
Slide 7
©2010 Financial Operations Networks LLC
Productivity
Invoice processing cost
• Automation
• Accuracy
• Reduced margin for error
• Less tolerance for errors
• Impact of training — positive
Slide 8
©2010 Financial Operations Networks LLC
Cash Management
• Payment timing
• Discounts
Slide 9
©2010 Financial Operations Networks LLC
Compliance
• Increased regulations
• Increased penalties
• Increased enforcement
Slide 10
©2010 Financial Operations Networks LLC
Risk Management
and Controls
• Fraudsters increasing
• Motives
• New tools for fraud
Slide 11
©2010 Financial Operations Networks LLC
Pressure on Relationships
• Suppliers
• Internal customers
• Internal support, especially I.T.
Slide 12
©2010 Financial Operations Networks LLC
Gap Management
• Research
• Identify resources
• Keep great people
• Prioritize I.T. resources
Slide 13
©2010 Financial Operations Networks LLC
Questions
To ask a question, please press *1
on your phone or submit your question
using the chat function within the
Webinar interface.
If you have further questions,
please e-mail them to
[email protected]
Slide 14
©2010 Financial Operations Networks LLC
Thank You!
For further information on this topic, contact
The Accounts Payable Network
2100 RiverEdge Parkway, Suite 380
Atlanta, GA 30328
Contact: [email protected]
866-827-6389
770-984-1184
www.TAPN.com