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Seven Best Practices to Reduce Risk in Your Supplier Onboarding Process

SEVEN BEST PRACTICES TO REDUCE RISK IN YOUR SUPPLIER ONBOARDING PROCESS

Cost Free
Presentation Length 1.0 hour

Recorded DateSeptember 12, 2019
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAccounting
Course LevelBasic
Course Description

Leading organizations recognize the importance of comprehensive supplier qualification processes but struggle to communicate qualification requirements to potential suppliers, and have difficulties creating a baseline for evaluating supplier risk levels.  Ardent Partners reports that 51% of the respondents in “The CPO’s Top Goals for Investing in Technology” survey report improving compliance as a goal.  The Hackett Group includes customizing supplier onboarding, identifying fraud and addressing internal policy non-compliance as the best practice tactics for a world class P2P organization.

To support tax and regulatory compliances requirements, there are several best practices to consider when onboarding your suppliers. This webinar will present seven best practices to consider in your supplier onboarding process.

Learning Objectives:


  • Gain an understanding of supplier onboarding best practices

  • Learn about the impacts of supplier master compliance for all company types and sizes

  • Learn to about the seven best practices to consider for your supplier onboarding process

  • Determine how these seven best practices reduce risk in your Procure-to-Pay (P2P) process.


Throughout this webinar, Chris Doxey will cover the following topics:


  • How do I define the Procure-to-Pay (P2P) process from supplier selection to payment?

  • What are the key controls for the P2P process?

  • Why is the supplier onboarding process so important?

  • What are seven best practices that can reduce risk?

  • How do I implement these best practices?

  • What are the critical compliance requirements for the supplier onboarding process?

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Chris held senior finance and controller positions at Digital Equipment Corporation, Compaq, and Hewlett Packard, which allowed her to develop and implement internal control and leading practices for all aspects of financial operations. She was recruited to lead WorldCom (MCI) to implement internal rules, policies, and corporate governance processes. She fine-tuned her consulting experience in the Procure to Pay (P2P) area at APEX Analytix and BSI Healthcare.

As President of Doxey Inc., Chris uses her experience to provide best practice solutions to her clients for the P2P process and financial operations.

She holds a bachelor's degree in English, a bachelor's in accounting, a master's in business administration, and has a graduate certificate in project management.  She is a Certified Accounts Payable Professional (CAPP) and holds a Certification in Controls Self-Assessment (CCSA). Chris is also a Certified Internal Controls Auditor (CICA) and a Certified Professional Controller (CPC).
 

About Our Sponsor

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Veem is an all-in-one AP/AR solution that offers the next generation of financial tools to accountants and bookkeepers that simplifies processes and helps their business grow. Manage your client's domestic and international payments in a solution that uses your accounting platform as the source of truth. For nearly a decade, Veem is trusted by more than 500,000 businesses in over 110 countries to send and receive money globally. Veem is licensed and regulated in each country and state it serves.