E-Invoicing and Accounts Payable Automation: What You Need to Know
Nowadays, financial organizations across the globe consistently search for new ways and techniques on how to make every transaction, particularly invoicing and accounts payable fast, easy, and efficient without incurring too many costs. For years, accounts payable and invoicing have been kept heavy-footed by paper which in turn led to delay in payments, obstruction in cash management and tainted supplier relations.
According to research, only 20 percent of businesses have highly automated accounts payable processes that effectively and efficiently manage invoice payment and only nine percent were known to be using electronic invoicing in the year 2015. With the widespread adoption of accounts payable automation and electronic invoicing, it is expected that invoice processing and tracking will boost the AP department and then in turn build a more stable, efficient, stronger, and mutually beneficial relationships.
A seasoned panel of professionals and thought leaders brought together by The Knowledge Group will provide the audience with a definitive guide to the fundamentals of e-invoicing and accounts payable automation. Speakers will highlight the best practices and practical tips to increase productivity, improve reporting and accounts payable analytics while reducing excessive processing costs.
Key topics include:
- Accounts Payable Automation
- E-Invoicing: A Legal Primer
- E-invoicing in Accounts Payable: Opportunities and Pitfalls
- Legal Requirements
- Recent Trends and Developments
BC Krishna, CEO
- Why it matters (the problem with manual AP and Payments)
- Who it matters to (business segments)
- Diffusion of Innovation: despite how much it SHOULD matter, why it is difficult to get them to care (the Everett Rogers story)
Todd M. Albers, Senior Payment Consultant
Federal Reserve Bank of Minneapolis
- What are the global developments around increasing e-invoice adoption and what does that mean for the US.
- What are the barriers to broader e-invoicing in the U.S.
- What are the Potential economic and societal benefits for widespread e-invoicing in the U.S.
- Who is leading the effort from the U.S.
- What is the potential roadmap to get to increasing adoption
Who Should Attend:
- Financial Organizations
- Financial Advisers
- Finance Officers
- Accounts Payable Officers
- Chief Finance Officers
- AP Department
- Top Level Management
- Public and Private Companies
BC Krishna is the CEO and Founder of Boston-based MineralTree, an Accounts Payable (AP) and Payment Automation solution for finance professionals at growing organizations. BC has started three companies that have defined or established new, multi-billion-dollar market categories. Before founding MineralTree, he founded bank fraud detection software company, Memento. Prior to Memento, he founded FutureTense, a company that pioneered the content management category. He is also a member of the Federal Reserve Bank’s Secure Payments Task Force and Faster Payments Task Force, and is working with the Remittance Coalition to lead the creation of a B2B payments directory. BC’s local impact has been significant. BC has taught courses for graduate students, undergraduates, and high school students in the greater Boston area in circuit design and mathematics. BC holds an M.S. in Visual Studies from the MIT Media Lab, and an M.S. in Computer Science from the Birla Institute of Technology and Science in Pilani, India.
BC Krishna is the CEO and Founder of Boston-based MineralTree, an Accounts Payable (AP) and Payment Automation solution for finance …
Todd M. Albers is a Senior Payments Consultant at the Federal Reserve Bank of Minneapolis in the Payments, Standards, and Outreach Group. Todd joined the Federal Reserve Bank in 2016, and his duties include work that covers research and coordination amongst interested parties in B2B payment efficiency, standards, and electronic invoicing. He is the convener of the Business Payments Coalition e-Invoicing Work Group, and is a member of the ISO 20022 Payments Standard Evaluation Group, World Wide Web Consortium (W3C) Web Payments Interest Group & Web Payments Work Group, OASIS Universal Business Language (UBL) Technical Committee, and co-chairs the UBL Adoption sub-committee.
Todd’s background includes 18+ years in the Financial Services and Technology Industry; where he was responsible for strategy and new product development for products including electronic accounts payable (EAP), electronic invoice presentment & payments (EIPP), commercial credit cards, and expense report management tools.
Todd M. Albers is a Senior Payments Consultant at the Federal Reserve Bank of Minneapolis in the Payments, Standards, and …
Print and review course materials
Method of Presentation:
Experience in commercial law or accounting
NASBA Field of Study:
Production - Non-Technical
NY Category of CLE Credit:
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Federal Reserve Bank of Minneapolis
Whether you’re a controller, AP manager, CFO, or other payment approver, MineralTree’s invoice payment processing solution streamlines your accounts payable workflow, giving you significant cost savings and unparalleled control in an affordable, integrated platform with guaranteed fraud protection.
About Federal Reserve Bank of Minneapolis
The Payment, Standards, and Outreach Group advances the Federal Reserve System mission in payments by coordinating the Federal Reserve Banks’ work in standards and supporting research, education, and other initiatives that increase the efficiency of business-to-business (B2B) transactions, mitigate payment fraud risk, and enhance understanding of select payment innovation.