Optimizing Accounts Payable Functions. Leading strategies for reducing costs and improving the performance of Accounts Payable Functions

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1 Opportunity to see reallife 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. 8th Optimizing Accounts Payable Functions Leading strategies for reducing costs and improving the performance of Accounts Payable Functions January 17, 18 & 19, 2011, Toronto Participating organizations A/P CHEXS INC. BAYER BUSINESS STRATEGY, INC. (GRAND RAPIDS, MI) CANADA POST CORPORATION CANADA S WONDERLAND CARA OPERATIONS LTD. CDIT INC. CHELSEA CONSULTING GROUP CMP CAPITAL INC. DAWN FOOD PRODUCTS INC. DUFF & PHELPS GLENIDAN CONSULTANCY LTD. INVESTORS GROUP KPMG LLP LCBO MARSULEX INC. OB10 INC. (ATLANTA, GA) ONTARIO MINISTRY OF GOVERNMENT SERVICES PM2 - PERFORMANCE MEASUREMENT & MANAGEMENT RYERSON UNIVERSITY VIRGIN MOBILE Conference highlights 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 profit centre Learn about the latest technologies that promote performance over chasing down paper Review methods for preventing and detecting fraud associated with A/P Gain insight into the pros and cons of decentralized accounts payable and learn practical tips to navigate obstacles Hear about the benefits of implementing vendor file management best practices Discover how proper A/P risk management techniques can safeguard the entire organization from costly disasters Optional workshops ALIGNING THE A/P FUNCTION WITH YOUR CORPORATE FINANCIAL GOALS Brett Knowles, Founder and Partner, pm 2 - Performance Measurement & Management STRENGTHENING ACCOUNTS PAYABLE BY IMPLEMENTING A CONTROLS SELF ASSESSMENT PROGRAM Chris Doxey, Vice President of Business Development, Environmental Management, Business Strategy, Inc. (Grand Rapids, MI)

2 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 find themselves pushed to the limit in trying to keep their people working at maximum efficiency. 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 8th 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 efficiency in their own departments. We invite you to join us and hear about: - The benefits 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 benefits of implementing vendor file management best practices - The pros and cons of decentralized accounts payable and practical tips to navigate obstacles - The benefits of implementing vendor file 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 This exciting event brings together A/P practitioners from Bayer, Canada Post Corporation, Canada s Wonderland, Cara Operations Ltd., CMP Capital Inc., Dawn Food Products Inc., Investors Group, LCBO, Marsulex Inc., Ontario Ministry of Government Services, Ryerson University, Virgin Mobile and many more! Take a giant leap toward more effective accounts payable functions. Register now by calling (416) or Looking forward to seeing you at the conference. P.S. Our practical and interactive workshops will show you how to ensure that your company s A/P department remains aligned with the organization s financial goals and also provide strategies and practical advice for developing and strengthening accounts payable internal controls to ensure that your A/P department effectively protects your business from fraud and costly errors. Who should attend Vice-Presidents of Finance and Controllers; Directors & Managers of: Accounts Payable, Purchasing, Finance, Accounting, Shared Services, Transactions, Disbursements, Financial Processing & Operations Improvement SPONSORSHIP OPPORTUNITIES Maximize your company s visibility in front of key decision-makers in your target market! Federated Press events are attended by those with the seniority and authority to change the way their organizations operate. For sponsors this means an unparalleled opportunity to raise your profile before a manageable group of senior decision makers. There are a wide range of sponsorship packages, which can be customized to fit your budget and marketing objectives. Contact Nayla Costandi at: ext. 244 for more information. Municipal Governance December 12, 13 & th Optimizing Call Accounts Payable Functions

3 Monday, Tuesday & Wednesday, January 17, 18 & 19, 2011 Registration: 8:00 9:00 STRATEGIES TO OPTIMIZE A/P PROCESSES John Chyzyk, President & CEO, A/P Chexs Inc. SESSION 1 Monday, January 17 th 9:00-10:00 PANEL DISCUSSION: STRENGTHENING ACCOUNTS PAYABLE INTERNAL CONTROLS John Chyzyk, President & CEO, A/P Chexs Inc. Glen Chow, Managing Director, CMP Capital Inc. Raminder Asiedu-Anguah, Senior Manager, Accounts Payable, Bayer Tim Plaxton, Division Director, Investors Group Dale S. Feddoes, AP Supervisor, Dawn Food Products Inc. Keith Jackson, Assistant Controller, Virgin Mobile 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 undertaken by leading Canadian organizations to improve internal controls in their accounts payable departments. Determining objectives of internal controls Identifying vulnerabilities in current internal controls Maintaining internal control activities Methods for securing accounts payable processes 10:00-10:45 USING DOCUMENT IMAGING OR OPTICAL CHARACTER RECOGNITION (OCR) IN A/P Peter Gee, Director, Financial Services, Ryerson University Mary Anne Rait, Manager, Systems & Training, Financial Services, Ryerson University 11:15-12:00 WHY A/P TRANSFORMATION MATTERS IN 2011 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 presentation will change the way you look at your Accounts Payable processes. You will be guided through asystematic approach to help your organization 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 industry-wide research groups (i.e. AberdeenGroup, IOMA, The Hackett Group, etc.) Reviewingbest-in-classA/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 12:00-1:00 LUNCH Optical character recognition (OCR) and similar imaging technologies have moved to the forefront in a number of organizations to achieve cost savings and improve efficiencies in their accounts payable functions. These technologies, by enabling AP to enter, review, approve and record transactions in an electronic environment promote performance and process efficiencies. This case study will review the results of Ryerson s recently implemented OCR capabilities that extended its AP document management and imaging capabilities. Impact of OCR on data entry and information capture Benefits of optical scanning and imaging technologies in document processing How OCR is contributing to reduced costs Next steps to assist in overall transformation 10:45-11:15 NETWORKING BREAK Federated Press

4 Securing Accounts Payable Processes - Retaining Proper Records TOOLS FOR A/P OPTIMIZATION Michael J. Snook, Director, Procurement to Payment, Common Services, Canada Post Corporation SESSION 2 Monday, January 17 th 1:00-1:45 CAPITALIZING ON THE EXPENSE AND INTERNAL CONTROL BENEFITS OF CORPORATE P-CARDS Dan Bussotti, Senior Policy Advisor, IT Procurement Planning & Policy Development, Ontario Ministry of Government Services Corporate p-cards rank among the most cost-effective methods for simplifying and streamlining expense management processes for A/P professionals as well as for purchasing and paying for materials and services. They also contribute to the enhancement of internal controls. By enabling customers to place orders directly with suppliers without involving purchasing or accounts payable personnel, p-cards can shave procurement-to-payment process costs by as much as 75%. This presentation will discuss: Understanding and implementing corporate p-cards Reducing payment processing costs Enhancing internal controls Providing a complete audit trail for all purchases made Fostering supply chain management goals 1:45-2:45 CASE STUDY: CANADA POST CORPORATION Michael J. Snook, Director, Procurement to Payment, Common Services, Canada Post Corporation Canada Post Corporation has recently refined its vendor master change approval workflow, implemented an automated quarterly blocking of non-active vendors, as well as updated its related practices and procedures. This case study presentation will examine these developments at the Canada Post Corporation. Vendor master file and internal controls initiatives CPC s internal controls within procurement-to-payment Vendor master file management at the CPC Refinement of CPC s vendor master change approval workflow Implementation of an automated quarterly blocking of non-active vendors Updating CPC s related practices and procedures 2:45-3:15 NETWORKING BREAK 3:15-4:15 INTRODUCING INTERNAL CONTROL OVER FINANCIAL REPORTING AT THE LCBO: CASE STUDY Theresa Mutlak, Director, Financial Reporting & Technology, LCBO When it comes to preparing for the certification of a company s internal control over financial reporting as stipulated by the Canadian Securities, documentation plays an integral part in the process. This case study session will provide insight into some of the most commonly asked questions related to documenting internal control over financial reporting while looking at the ICFR implementation process at the LCBO. Challenges and successes of the ICFR implementation process at the LCBO Piloting the ICFR methodology against the Purchases to Payable cycle The role documentation play in the internal control over financial reporting The documentation process at the LCBO Benefits and challenges of implementing ICFR and by properly documenting their internal control over financial reporting 4:15-5:00 TURNING YOUR A/P DEPARTMENT INTO A PROFIT CENTRE Brett Knowles, Founder and Partner, pm 2 - Performance Measurement & Management 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 payable function holds just as much potential to become a valuable business process. This session 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 8th Optimizing Accounts Payable Functions

5 Reducing Payment Processing Costs - Accounts Payable Metrics MAKING CHANGE & MEASURING PERFORMANCE Enzo Carlucci, Director, Duff & Phelps SESSION 3 Tuesday, January 18 th 9:00-9:45 CASE STUDY: MARSULEX INC. Supinder S. Babra, Manager. Accounting Services, Marsulex Inc. This session will present a case study of the account payable practices of Marsulex Inc., a leading industrial services company, covering all aspects of their A/P functions. Ensuring full balance sheet integrity of the Working Capital Implementation of new projects IFRS for the Working Capital of all sites Understanding and implementing cost reduction projects Implementing SAP analysis in sites Strategic sourcing of p-cards, travel Process flow improvements in procure to pay and order to cash Month end processing for leadership review 9:45-10:30 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 occurring. 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 10:30-11:00 NETWORKING BREAK 11:00-11:45 RISK MANAGEMENT PRACTICES IN ACCOUNTS PAYABLE Enzo Carlucci, Director, Duff & Phelps 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 achieving 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 11:45-12:30 TRANSFORMING A/P FROM A BACK OFFICE FUNCTION TO STRATEGIC BUSINESS PARTNER Mark Ng, Manager, Performance and Technology, KPMG LLP Jackline Abrahamian, Senior Consultant, Financial Management Advisory, KPMG LLP Transforming A/P from a back office function to strategic business partner is about one thing and one thing alone: adding value. This interactive 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 12:30-1:30 LUNCH Federated Press

6 Lean Process Transformation - Conducting Internal Audits TRANSFORMING THE A/P FUNCTION Chris Doxey, Vice President of Business Development, Business Strategy, Inc. (Grand Rapids, MI) SESSION 4 Tuesday, January 18 th 1:30-2:15 LEADING PROCESS TRANSFORMATION IN ACCOUNTS PAYABLE Jim Love, CEO, Chelsea Consulting Group Leading companies are increasingly targeting business process transformation while maintaining a strategic focus on core strengths and business strategies. They are realigning their accounts payable team as a core resource and solution to strategic challenges. This session will look at leading process transformation in AP to accelerates the process and engage the staff. Identifying how and where processes should be transformed and improved Working on the underlying processes to make them much faster - often while improving the quality Using Lean process transformation Using their existing staff in order to achieve better engagement Establishing key controls and metrics for AP automation 2:15-3:00 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 decentralized 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 generated. This discussion will look a number of critical issues that need to be considered when evaluating whether to outsource the accounts payable function, and will also discuss the control, accounting and relationship challenges of decentralized 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 3:00-3:30 NETWORKING BREAK 3:30-4:15 PERFORMANCE MANAGEMENT OF A/P PERSONNEL Chris Doxey, Vice President of Business Development, Business Strategy, Inc. (Grand Rapids, MI) Performance metrics are necessary to ensure that the A/P department is performing well. These can also be used when developing benchmarks. This presentation will discuss how the to implement a performance measurement system that is meant to reduce the cost of invoice processing and remain competitive. Identifying objectives and areas to be measured: data entry of invoices, invoice review cycle times, on-time payments, invoice errors, early payment discounts Dividing the A/P department into its various functions Developing performance metrics and tracking productivity Using metrics as a benchmarking tool: report on cost for each function and cost per invoice Cross-training team members on all functions to ensure coverage during absences and vacations Establishing a service level 4:15-5:00 MOVING TOWARDS ELECTRONIC INVOICING: CREATING A WINNING STRATEGY THROUGH ELECTRONIC INVOICE PRESENTMENT AND PAYMENT (EIPP) Ernie Martin, North American Marketing Manager, OB10 Inc. (Atlanta, GA) Electronic invoice presentment and payment (EIPP) services refer to the electronic presentation of statements, bills and invoices sent by a company to its customers and corresponding payments for goods and services. Electronic invoicing offers plenty of cost and efficiency benefits but the new technology has not been widely adopted. However, companies are turning to a more holistic approach to working capital management and recognizing that EIPP offers the capability to achieve end-to-end processing and reduce days of sales outstanding. This presentation will provide an overview of EIPP and of its practical application. Capabilities of EIPP What should you look for in a good EIPP system? Benefits of EIPP Critical factors to ensure success in implementation How to avoid costly mistakes 8th Optimizing Accounts Payable Functions

7 OPTIONAL WORKSHOP A Wednesday, January 19 th - 9:00-noon ALIGNING THE A/P FUNCTION WITH YOUR CORPORATE FINANCIAL GOALS Brett Knowles, Founder and Partner, pm 2 - Performance Measurement & Management The accounts payable function is increasingly being seen as a key business process that impacts an organization s cash flow and bottom line. Thus, it becomes critical to align the A/P function with corporate financial goals, whether these may be to maximize corporate value while reducing financial risks or to maximize earnings and cash flow in order to allocate capital toward growth initiatives. This practical and interactive workshop will show you how to ensure that your company s A/P department remains aligned with the financial goals of the company. Evaluating your existing A/P processes and procedures: Are your invoices routed directly to A/P from vendors? Are your processing times affecting your vendor relations? Are you taking maximum advantage of early payment discounts? Are you managing documents electronically? How easily are you able to retrieve documents? Finding areas for improvement and applying A/P optimization and automation tools Change management practices in the A/P function to improve operational efficiency and reduce costs Creating a culture that fosters change Key drivers for change Moving from paper-based processes to automation Centralizing A/P processes: transition to shared services Developing benchmarks Brett Knowles is the founder of pm 2 - Performance Measurement & Management. Over the last twenty years, he has worked with Drs. Kaplan and Norton and has had clients referenced in each of their books. He has assisted over 3,000 organizations from around the world and in all sectors. OPTIONAL WORKSHOP B Wednesday, January 19 th - 1:30-4:30 STRENGTHENING ACCOUNTS PAYABLE BY IMPLEMENTING A CONTROLS SELF ASSESSMENT PROGRAM Chris Doxey, Vice President of Business Development, Business Strategy, Inc. (Grand Rapids, MI) Chris Doxey (Grand Rapids, MI), CAPP, CCSA, CICA will reference her recently published book entitled, "Implementing a Controls Self Assessment (CSA) Program in Your Accounts Payable Department." A CSA program is a great way to ensure that internal controls are embedded within your accounts payable process. This interactive workshop will focus on the importance of implementing 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 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. Federated Press

8 8th Optimizing Accounts Payable Functions Leading strategies for reducing costs and improving the performance of Accounts Payable Functions January 17, 18 & 19, 2011, Toronto NOVOTEL TORONTO CENTRE HOTEL, 45 THE ESPLANADE, TORONTO, ON, M5E 1W2 TO REGISTER FOR OPTIMIZING ACCOUNTS PAYABLE FUNCTIONS Delegate Name Delegate Title Mail completed form with payment to: Federated Press P.O. Box 4005, Station A Toronto, Ontario M5W 2Z8 Approving Manager Name Approving Manager Title Department Organization Address City Province Postal Code Telephone Fax PAYMENT OPTIONS q Cheque enclosed (payable to Federated Press) for: GST Registration # R q Please bill my credit card: q AMEX q VISA q Mastercard Credit Card # Signature : REGISTRATION COSTS Book & Pay by Oct 18/10 Expiration date: CD-ROM: The modern way to benefit from leading-edge conference information. Weren t able to attend this Federated Press conference? Though you cannot replace the experience of attending, you can benefit from the leading-edge information provided at the conferences, including all the written materials and video presentations by purchasing the Proceeding CD ROM. Our conference CD-ROMs create the experience of actually being at a lecture or conference. $ Book & Pay by Nov 15/10 * Breakfasts, luncheons, morning and afternoon coffee breaks are included in the registration fees. Please add 13% HST to all prices. / PBN# PG0001 / Regular Price q Conference + all workshops $ 2795 $ 2895 $ 2995 q Conference + 1 workshop ( qa or qb ) $ 2320 $ 2420 $ 2520 q Conference + CD-ROM ($150) $ 1925 $ 2025 $ 2125 q Conference only $ 1775 $ 1875 $ 1975 q CD-ROM only $ Toronto: (416) info@federated press.com (416) WHEN CALLING, PLEASE MENTION PRIORITY CODE: APFT1101/E Payment must be received prior to January 10, 2011 UNCONDITIONAL UPGRADE POLICY If you have registered for a similar or simultaneous 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 cancellation fee up to $ GROUP DISCOUNT 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: ext. 223 for more information. Cancellation: Please note that non-attendance at the conference does not entitle the registrant to a refund. In the event that a registrant becomes unable to attend following the deadline for cancellation, a substitute attendee may be delegated. A copy of the conference 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 content or speakers. A full refund of the attendance fee will be provided upon cancellation in writing received prior to January 4, No refunds will be issued after this date.