‘Procure to Pay’ Overview

‘Procure to Pay’ Overview ranks 3rd in the tops the list of best online procurement courses. In any business, the procurement to payment workflow can be significant. To ensure that the workflow runs smoothly, each team involved, including Procurement, Sourcing and Purchasing, Receiving, Vendor Master, Accounts Payable and Payment Processing, and Treasury, should be aware of the entire process. In this presentation, we will go over the fundamentals of procurement. Nothing can be ordered in most businesses until a supplier is added to the Vendor Master Maintenance system. In your organization, the terms sourcing and purchasing may be interchangeable or have different meanings. Receiving goods and services, as well as posting Goods Receipts against Purchase Orders, can be more critical in some businesses than invoice processing. Auditing of old receipts will be included as well.

Product returns to suppliers must also be tracked in order to ensure the recovery of funds or the receipt of replacement product. We will look into some options for doing so in your organization. Although Accounts Payable is at the tail end of the work flow, their role is no less important. They must ensure that costs are posted promptly and accurately, payments are made on time, and vendor relationships are not jeopardized while adhering to best business practices such as Compliance Policies, Segregation of Duties, Delegation of Authority, tax liabilities, and other business-specific rules.

Who is this Online Procurement Course for?

• Accounting
• Financial officers or related fields.

What is the Course about?

• Procurement to Payment can be an important workflow in any business. For effective workflow, each team involved should have a proper understanding of the entire flow. In most businesses, nothing can be ordered until a supplier has been set up in the Vendor Master Maintenance system. The words Sourcing and Purchasing may be interchangeable or have different meanings in your organization.

What will you gain from this Course?

• Explore the accounting transaction book.
• Explore the use of various payments options.

Upon completion of the course, you will be

• Identify the components of Procure to Pay work stream.
• Identify the benefits of creating a Purchase Order (PO).
• Recognize the pros and cons and differences between PO and Non-PO invoices.

What’s included in this purchase?

• 1 hour on-demand video
• 2 Articles
• 2 Supplemental Resources
• Access on mobile and TV
• Certificate of Completion
• Full lifetime access

Previous Knowledge/Requirements?

• No advanced preparation/prerequisites are required.

About the Course Author

• Illumeo Learning (Condensed and Efficient Courses for Busy Professionals):
  • Illumeo, incorporated in 2009, works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job. 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.
• Anne Wheeler (Illumeo)
  • Anne Wheeler is an Accredited Payables Manager (APM) with vast experience in the field of procurement management. She has also managed the implementation of several types of AP workflow systems and ACH payment programs over the years. Anne Wheeler hopes to share what she has learned in order to help others.

Rating: 4.6/5.0

Enroll here: udemy.com/course/procure-to-pay-overview