Accounts Payable Reporting

It’s not the sexiest topic in the world, but Accounts Payable (AP) Reporting is a crucial requirement for helping AP and Finance departments understand and forecast organizational costs and revenue, as well as proactively identify issues and risks. In this webinar, RPI’s Alex Lindsey will review some of the most common Accounts Payable Reports and share recommendations for advanced reporting that will help your AP department save time and money.

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Transcript

Alex Lindsey:

Hello and welcome to another Webinar Wednesday with RPI Consultants. Today we’re going to be talking about accounts payable reporting. A few things to know. There’ll probably be some construction workers walking in behind me and that may have something to do with a background noise you may hear. But progress can be noisy and pardon our dust while we process forward.

A few housekeeping items to take care of today. This Webinar will be recorded. We’re going to send out a PowerPoint slide to all the attendees after this. This video will also be posted to be shared at a later date as well. If you have any questions throughout the Webinar, please feel free to post those into the Webinar chat channel and we’ll try to answer those at the end of the meeting and if you have any other topics that you’d like us to cover or like us to explore, then we’d be happy to do that as well.

So getting started here, this is the last Webinar of the day. We do have another two, big surprise, coming up next month. Wednesday, May 1st, 2019 at 11:00 AM we’re going to be covering how you can evaluate API or other third party workflows for invoice processing. So if you don’t have anything in place now maybe it’s a good opportunity to explore that.

And we’re also going to be talking about visual basic, VB, scripting for Perceptive Content. There’s a lot of fun things you can learn. So if you are an admin that’s looking to expand some of your skills, I think that’s a really good one to attend as well.

My name is Alex Lindsey. I’m a senior solution architect with RPI consultants. I have over six years’ experience working in the content management OCR extraction or advanced data capture, as I’m constantly told to say. Basically, software sphere. I specialize in accounts payable and other random solutions that you may want to incorporate or automate and I am a master whiskey distiller.

So a few things on the agenda today. We’re going to talk a little bit about RPI Consultants and what we do, what we offer. Very small AP reporting overview. And then we’re gonna run through a bunch of common AP reports that we see and that we’d like to report on for our AP automation solutions. And then we’ll close it up with some of the reporting tools and software that either maybe you have now or maybe you are exploring for future software enhancements or future software needs. And then we’ll open it up for questions and summary.

A little bit about RPI Consultants. We are a services firm. We have over 80 plus, and this is a growing number as well, full time consultants, project managers and technical architects. We have offices located in Baltimore and Tampa and right here in Kansas City, Missouri.

Our services range from technical strategy, managed services, health checks, solution designs, implementations, maybe just a one off script as well as upgrades. And we are a licensed partner reseller for the following products, software services. Perceptive Software, OnBase, Brainware by Hyland, Kofax, as well as Infor Lawson.

So a little bit about AP reporting and what it is. If you’re logged onto this webinar right now, if you’re watching this video, essentially you probably have a good idea of the common accounts payable reports that you have to look at. They are important and I’m hoping that this webinar gives you a better idea of maybe some other reports you can use in the softwares that you have to explore that a little bit further and get a little bit more line of sight into your accounts payable processing.

So the first and foremost, senior invoice life cycle. So if you have an AP automation solution right now, it’s important to see where things are and what’s coming down the pipeline, essentially. So you have a good idea of the basically the invoices and the financial impact that’s coming your way. It’s also good for user accountability. So if you have a shared services center that you’re processing invoices through or you have a big AP team or even a small AP team, you can use the user accountability functionality. So basically reporting on security, what user is doing what, for instance, to kind of ID areas of opportunity. Maybe another AP associate has a little bit more learning to do with the software. And you can also get a detailed vendor analysis as well.

So it gives you the opportunity to really identify who you’re paying, how much you’re paying them, and the things that you can do to improve that scenario for your accounts payable department. And there really are many tools available to you to basically run through these reports. And I’ll talk through some of those at the end of the presentation.

So what are some of our common AP reports? These are the ones I’m basically going to run through today. Accrual report all the way through an extraction report. Essentially highlighting different areas within your accounts payable department that can help you make better decisions, help you process things faster, get maybe better rebates and things like that.

So the first and foremost is the accrual report. If you are a Perceptive Content customer th