Track: Payment Systems

Initiating and Reconciling B2B ACH Payments: Solutions in Your Tool Kit for Small Suppliers

Monday, October 20, 2008
1:30 p.m. - 3:00 p.m.
Room: 403 B

Businesses face challenges that include: 1) initiating electronic payments with remittance information and 2) reconciling payments received with the invoice information. Hear panelists from businesses of various sizes discuss B2B ACH alternatives offered by financial institutions that they are using or evaluating. The discussion will explore current experiences, challenges, solutions and plans for the future.

Speakers:

• Richard R. Oliver
  Executive Vice President and Retail Payments Product Manager
  Federal Reserve Bank of Atlanta

• Kimberly A. Drennan, CTP
  Area Credit Manager
  Composites One, LLC

• Michael Buonasora
  Partner and Treasurer
  Ogilvy North America

• Dale E. Godfrey, AAP
  Assistant Vice President, Information Technology
  Southwest Business Corporation

Objectives

• Identify tools to integrate ACH payments with accounts receivable processes
• Discuss developing standards to support businesses and their banks to improve Straight Through Processing (STP) across the supply chain
• Learn businesses efficiency practice experiences on the use of EDI and reconciling payments and information
• Identify tools to address inefficiencies with ACH payments and information

Pre-Requisites

• General understanding of Accounts Payable and Accounts Receivable processes

Take-Aways

• EDI Checklist

CPA Field of Study: MAS