Track: Payment Systems

Unlock the Value of Your Payment Process to Optimize Working Capital

Tuesday, October 21, 2008
8:30 a.m. - 9:30 a.m.
Room: 502 B

Across the supply chain, companies are focused on opportunities to generate efficiencies, reduce costs and increase compliance. This session will discuss Buyer Initiated Payment (BIP), which can enhance your company's existing p-card program or introduce the benefits of a virtual payment card with its robust controls, automatic reconciliation capabilities and enhanced spending data. This session will outline how Memorial Hermann Healthcare Systems is leveraging BIP to optimize its days payable outstanding (DPO).

Speakers:

• Daron Whisman
  Director of Finance Supply Chain
  Memorial Hermann Hospital

• Dennis M. Bauer
  Vice President, Global B2B Payments
  American Express

Objectives

• Reduce costs associated with paper checks and supplier inquiries
• Improve security and minimize payment fraud
• Transition more suppliers to ACH and build stronger supplier relationships
• Optimize working capital management for your organization by better management of DPO

Pre-Requisites

• A general understanding of the procure to pay process and how technology is shifting the way organizations run the business

Take-Aways

• White Paper and Fact Sheet on Buyer Initiated Payment

CPA Field of Study: FIN