Optimizing Accounts Payable Functions

March 26, 27 & 28, 2012, Toronto

Leading strategies for reducing costs and improving

the performance of Accounts Payable Functions

Optimizing

Accounts Payable

Functions

9

th

• Hear from a host of leading Canadian organizations on improvements they have brought to their accounts payable departments and learn

strategies and tactics that will assist you in improving your own A/P functions • Discover best practices for turning your A/P department into a profi t centre • Gain insight into the pros and cons of decentralized accounts

payable and learn practical tips to navigate obstacles • Discover how proper A/P risk management techniques can safeguard the entire organization from costly disasters

STRENGTHENING ACCOUNTS PAYABLE BY IMPLEMENTING A CONTROLS SELF ASSESSMENT PROGRAM

Chris Doxey, Vice President of Business Development, Business Strategy, Inc. (Grand Rapids, MI)

ABORIGINAL AFFAIRS AND NORTHERN DEVELOPMENT CANADA AMEC AMERICAS LIMITED

BUSINESS STRATEGY, INC. CANADA’S WONDERLAND CDIT INC.

DAWN FOOD PRODUCTS (CANADA), LTD. DUFF & PHELPS CORP.

GLENIDAN CONSULTANCY LTD. GOODLIFE FITNESS

HUSKY INJECTION MOLDING SYSTEMS LTD. IOVATE HEALTH SCIENCES INC.

NORBORD INC.

POLYAIR INTER PACK INC.

QUALITY MEAT PACKERS LIMITED RYERSON UNIVERSITY

SPIN MASTER LTD.

Conference highlights

Participating organizations

Optional workshop

“Opportunity to see real-life examples of company processes and appreciate range of practices, concerns and solutions.”

“Reinforced items on what should be the A/P roadmap in order to make changes.” “The networking aspect was

the best part. I picked up a few ‘take-aways’ to help us get to a best practices place.”

“Networking was great - especially at lunch. Also learned more about EIPP and shared services.”

Dear Colleague:

With rising costs, widespread competition and the constant need to improve the productivity of the accounts payable department, A/P professionals in today’s business environment can fi nd themselves pushed to the limit in trying to keep their people working at maximum effi ciency. Whether through better and smarter business practices or through the latest technological advances, avoiding costly logjams and increasing productivity has never been more crucial than it is today.

Federated Press’ 9th Optimizing Accounts Payable Functions conference will bring you the latest insights from leading experts and A/P practitioners on how they are successfully facing the challenges of today’s business environment and developing optimal ef-fi ciency in their own departments.

We invite you to join us and hear about:

- The benefi ts of integrating the A/P and Purchasing departments and tips to overcoming obstacles - The latest methods for preventing and detecting fraud associated with accounts payable

- How leading Canadian organizations are improving internal controls in their accounts payable departments - The latest technologies that promote performance over chasing down paper,

such as Electronic Invoice Presentment and Payment (EIPP) and p-cards - The benefi ts of implementing vendor fi le management best practices

- The pros and cons of decentralized accounts payable and practical tips to navigate obstacles - The benefi ts of implementing vendor fi le management best practices

- Performance measurement and how to increase the productivity of A/P personnel - What to consider when evaluating whether or not to outsource the A/P function

Gain practical information from these organizations that are making an impact in transforming accounts payable processes: Ab-original Affairs and Northern Development Canada, Amec Americas Limited, Business Strategy, Inc., Canada’s Wonderland, CDIT Inc., Dawn Food Products (Canada), Ltd., Duff and Phelps Corp., Glenidan Consultancy Ltd., GoodLife Fitness, Husky Injection Molding Systems Ltd., Iovate Health Sciences Inc., Norbord Inc., Polyair Inter Pack Inc., Quality Meat Packers Limited, Ryerson University and Spin Master Ltd.

Take a giant leap toward more effective accounts payable functions. Register now by calling (416) 665-6868 or 1-800-363-0722. Looking forward to seeing you at the conference.

9:00-10:00

STRENGTHENING ACCOUNTS PAYABLE INTERNAL CONTROLS

Rose Tarsitano, Manager, Accounts Payable, Husky Injection Molding Systems Ltd.

Having strong internal controls in place is crucial to preventing fraud, mispayments, liability for other errors or mishandling. One key part of this initiative is being in a position to delegate authority to qualified personnel to process and review A/P activities. This presentation will discuss best practices to improve internal controls in accounts payable departments.

· Determining objectives of internal controls

· Identifying vulnerabilities in current internal controls · Maintaining internal control activities

· Methods for securing accounts payable processes

10:00-11:00

PANEL DISCUSSION: TURNING YOUR A/P DEPARTMENT INTO A PROFIT CENTRE

Rita Orsatti, Manager, Accounts Payable, Iovate Health Sciences Inc. Dale S. Feddoes, Accounts Payable Supervisor,

Dawn Food Products (Canada), Ltd.

Subhasish Dutta, Manager, Accounting, Quality Meat Packers Limited

Typically, most companies work on the accounts receivables end in efforts to optimize profitability, usually by zeroing in on cash inflow and DSO. On the flip side, accounts payable departments are rarely seen as anything other than cost centres, especially since their raison-d’être is to funnel out monies to pay suppliers. However, the accounts pay-able function holds just as much potential to become a valupay-able busi-ness process. This panel discussion will discuss how A/P can impact cash flow and profitability.

· Automation to streamline A/P processes

· Capturing early payment discounts though e-invoicing · Detecting and recovering duplicate or erroneous payments · Using A/P metrics to drive profitability

11:00-11:15

NETWORKING BREAK

11:15-12:15

VENDOR MASTER FILE MANAGEMENT BEST PRACTICES

Anne Michaud, Manager, Accounts Payable, Norbord Inc.

With takeovers and mergers regular features of the Canadian business landscape, accounts payable departments’ vendor files can become hopelessly outdated or simply too large to be easily managed as busi-ness changes occur. Unless you are able to manage your vendor file effectively, it can become a bank of inaccurate or duplicate names. Optimizing vendor master file management has a direct positive impact on the efficiency of accounts payable functions. This discussion will highlight some of the benefits of implementing vendor file management best practices.

· Implementing straightforward vendor setup procedures · Putting into place approval practices for new vendors · Establishing separate management of one-time vendors · Validating data and retaining proper records

· Reducing the likelihood of systems control failure · Controls around GST numbers

12:15-1:15

Monday, March 26

Strategies to

Optimize A/P

Processes

SESSION 1

CHAIR: Subhasish Dutta, Manager, Accounting, Quality Meat Packers Limited

1:15-2:15

OPTIMIZING A/P PROCESSES TO PREVENT FRAUD

Jim Maddin, Security Manager, Canada’s Wonderland

The causes of fraud can be either internal or external. However, if the right processes are in place, you can reduce the chances of it occur-ring. This case study presentation will review methods for preventing and detecting fraud associated with accounts payable, focusing on Canada’s Wonderland’s practices in optimizing A/P fraud prevention processes.

· How to conduct internal audits

· Reporting tools that can help prevent fraud · How to implement processes that can help detect fraudulent vendors

· Challenges faced by Canada’s Wonderland: implanting fraud prevention best practices

2:15-3:15

CASE STUDY: DEALING WITH VENDORS UNDER DIFFICULT CIRCUMSTANCES

Michael Freel, Director, Finance, Polyair Inter Pack Inc.

In difficult economic times, companies can experience difficulty in maintaining their ability to pay their vendors on time or at all, potentially sending them into a death spiral, in which vendors stop shipping raw materials, resulting in the inability to make products to sell in order to generate the cash to pay those vendors. This session will provide a case study from Polyair, which has had to mange through such trying times.

· Forecasting short term (daily, weekly) cash flows · Prioritizing which vendors to pay

· Working out deals with vendors

· Communicating / relationships with vendors

· Contra accounts: where your vendor is also a customer · Dealing with crises

3:15-3:30

3:30-4:30

RISK MANAGEMENT PRACTICES IN ACCOUNTS PAYABLE

Enzo Carlucci, Director, Duff & Phelps Corp.

In order to ensure compliance and protect your organization from fraud and other financial disasters, leading companies are implanting risk management policies and practices in their A/P function. This session will examine how to implement risk management policies to protect your organization from the growing risks that can derail it from achiev-ing long-term success.

· Risk management practices to protect your organization from major disasters

· Effective risk management policies to mitigate risk

· Implementing internal controls that protect your organization · Identifying and minimizing risk in the vendor master file · Best practices for protecting AP departments from fraudsters · Developing and implementing business continuity best practices

Monday, March 26

Tools For A/P

Optimization

CHAIR: Enzo Carlucci, Director, Duff & Phelps Corp.

Tuesday, March 27

Making Change

& Measuring

Performance

9:00-10:00

RYERSON UNIVERSITY’S MARCH TO AP EFFICIENCY

Peter Gee, Director, Financial Services, Ryerson University Mary Anne Tait, Manager, Systems & Training, Financial Services, Ryerson University

Imaging technologies and new software capabilities have allowed or-ganizations to improve efficiencies and achieve cost savings. This case study presentation will discuss Ryerson’s accounts payable initiatives to promote performance and process efficiencies.

· Increasing A/P capabilities in an electronic environment · Improving self service, workflow and imaging capabilities · Optimizing imaging, OCR and file capture

· Assessing the results of these intiatives

10:00-11:00

PANEL DISCUSSION: TRANSFORMING A/P FROM A BACK OFFICE FUNCTION TO STRATEGIC BUSINESS PARTNER

Alana Naida, A/P Supervisor, Amec Americas Limited Liz Minarik, Manager, Accounts Payable, GoodLife Fitness

Evangeline Saldana, Senior Manager, Accounts Payable and Process Control, Spin Master Ltd.

Transforming A/P from a back office function to strategic business part-ner is about one thing and one thing alone: adding value. This interac-tive panel session will examine A/P’s transition to a more strategic, value-added role.

· The issues and challenges facing accounts payable functions · Leading practices implemented by organizations

across all industries

· Change approaches used to transform A/P organizations · Quick win opportunities that will assist participants in realizing

improvements within their own accounts payable functions · Longer-term improvement initiatives and change

strategies used by successful organizations

11:00-11:15

11:15-12:00

OUTSOURCING ACCOUNTS PAYABLE: CHALLENGES OF DECENTRALIZED ACCOUNTS PAYABLE

Philip Maguire, Principal, Glenidan Consultancy Ltd.

In order to meet its goals, it is important for the A/P function to run smoothly and efficiently. But what happens in the case of a decentral-ized accounts payable function, where that team doesn’t report to you? Many companies are choosing to outsource the accounts payable function given the significant cost savings potential that can be gener-ated. This discussion will look a number of critical issues that need to be considered when evaluating accounts payable outsourcing, includ-ing the control, accountinclud-ing and relationship challenges of decentral-ized A/P if a decision is made to proceed with the outsourcing option.

· Offshore vs. onshore vs. rightshore: the benefits and disadvantages · Deciding whether or not to outsource

· Reporting problems to be aware of when outsourcing · Control challenges, accounting challenges and relationship

challenges of decentralized accounts payable · Pros and cons of decentralized accounts payable · Best practices in implementing A/P function outsourcing

12:00-1:00

SESSION 3

CHAIR: Philip Maguire, Principal, Glenidan Consultancy Ltd.

1:00-2:00

INTRODUCING INTERNAL CONTROLS OVER FINANCIAL REPORTING

Karen Cameron, Manager, Funding Services, Aboriginal Affairs and Northern Development Canada

When it comes to preparing for the certification of a company’s internal control over financial reporting as stipulated by the Canadian Securi-ties, documentation plays an integral part in the process. This session will provide insight into some of the most commonly asked questions related to documenting internal control over financial reporting.

· Challenges and successes of the ICFR implementation process · Piloting the ICFR methodology against the

purchase to payable cycle

· The role documentation play in the internal control over financial reporting

· The documentation process

· Benefits and challenges of implementing ICFR and by properly documenting internal control over financial reporting

2:00-3:00

ACHIEVING EXCELLENCE: LEADERSHIP AND PERFORMANCE MANAGEMENT OF ACCOUNTS PAYABLE

Chris Doxey, Vice President of Business Development, Business Strategy, Inc.

This session will delineate the skills necessary for leading and manag-ing performance for the accounts payable process. It will review the leadership skills and challenges required for establishing performance objectives that achieve excellence, as well as the importance of ef-fective communication on both leadership and performance manage-ment.

· Leadership and Communication

· Identifying Accounts Payable Objectives

· Dividing the Accounts Payable Department Into Functions · Defining Metrics:

· Cost Saving and Value · Transactional Quality · Customer Service · Controllership

· Using Metrics as a Benchmarking Tool · The Value of Cross Training

· Establishing Service Level Agreements

3:00-3:15

3:15-4:15

WHY A/P TRANSFORMATION MATTERS IN 2012

Sandy Patel, Vice-President, ECM Solution Sales, CDIT Inc.

The Accounts Payable function is becoming increasingly strategic to the overall enterprise, but reliance on paper-based documents and manual processing methods is impeding its evolution. This presenta-tion will change the way you look at your Accounts Payable processes. You will be guided through a systematic approach to help your organi-zation streamline your A/P processes:

· What approaches to automation best-in-class enterprises are taking to improve their A/P processes · Comparing your A/P metrics with benchmarks from recent

industrywide research groups (i.e. AberdeenGroup, IOMA, The Hackett Group, etc.),

· Reviewing best-in-class A/P automation solutions available in the industry

· How to lower your reliance on paper-based processes · How to overcome challenges and barriers to

your AP automation goals

· How to embrace best practices within your own A/P department

Tuesday, March 27

Transforming

the A/P

Function

CHAIR: Chris Doxey, Vice President of Business Development, Business Strategy, Inc.

Maximize your company’s visibility in front of key decision-makers in your target market! Federated Press events are attended by those with the senior-ity and authorsenior-ity to change the way their organizations operate. For sponsors this means an unparalleled opportunity to raise your profile before a manage-able group of senior decision makers. There are a wide range of sponsor-ship packages, which can be customized to fit your budget and marketing objectives.

Contact Nayla Costandi at: 1-800-363-0722 ext. 244 for more information. SPONSORSHIP OPPORTUNITIES

OPTIONAL WORKSHOP

Wednesday, March 28

_{- 9:00-noon}

STRENGTHENING ACCOUNTS PAYABLE BY IMPLEMENTING A CONTROLS SELF ASSESSMENT PROGRAM

Chris Doxey, Vice President of Business Development, Business Strategy, Inc. (Grand Rapids, MI)

A CSA program is a great way to ensure that internal controls are embedded within your accounts payable process, and that such a program establishes the accountability for internal controls to the business process owner. This interactive workshop will focus on imple-menting a CSA program into your A/P department, along with the keys for ensuring success. Topics to be discussed include:

· Introduction to CSA

· CSA strategy, process and accountability · Understanding internal control standards

· Developing internal controls for accounts payable · Implementing a CSA program

· Entity level controls

· Tips for a successful implementation

Chris Doxey, CAPP, CCSA, CICA is currently Vice President of Business Development at Business Strategy, Inc., Chris Doxey has 30 years of experience in roles in Accounting and Finance, having held senior leadership roles in Accounts Payable, Accounts Receivable, Internal Controls, Payroll and Financial Process Integration for Digital, Compaq, Hewlett Packard and MCI. Her recently published book is entitled, "Implementing a Controls Self Assessment (CSA) Program in Your Accounts Payable Department."

WHEN CALLING, PLEASE MENTION PRIORITY CODE: OAPF1203/E

Payment must be received prior to March 19, 2012

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Mail completed form with payment to:

Federated Press

P.O. Box 4005, Station “A” Toronto, Ontario M5W 2Z8

Cancellation: Please note that non-attendance at the conference does not entitle the reg-istrant to a refund. In the event that a regreg-istrant becomes unable to attend following the deadline for cancellation, a substitute attendee may be delegated. A copy of the confer-ence papers will be provided in any case. Please notify Federated Press of any changes as soon as possible. Federated Press assumes no liability for changes in program con-tent or speakers. A full refund of the attendance fee will be provided upon cancellation in writing received prior to March 13, 2012. No refunds will be issued after this date.

If you register four people at the same time you will be entitled to a discount. To take advantage of this special offer, payment for all delegates must be made with one cheque or credit card charge. Contact Sandra Frattolillo at: 1-800-363-0722 ext. 223 for more information.

GROUP DISCOUNT

If you have registered for a similar or si-multaneous event and wish to attend this Federated Press event instead, we are so sure that you will find this conference of more value that we will refund any cancel-lation fee up to $300.00

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March 26, 27 & 28, 2012, Toronto

Leading strategies for reducing costs and improving

the performance of Accounts Payable Functions

Optimizing

Accounts Payable

Functions