Last week, the Accounts Payable Leadership Conference in Chicago brought together over 100 professionals and leaders in the AP and P2P space, offering attendees cutting-edge insights, practical takeaways, and invaluable networking opportunities. This sixth annual event, organized by the Institute of Financial Operations & Leadership (IFOL), attracted a diverse mix of experts, thought leaders, and practitioners eager to explore the future of Accounts Payable (AP) in today’s fast-paced, technology-driven environment.
Conference Highlights
From keynote speeches to expert panels, the conference agenda was packed with engaging content, providing deep dives into the biggest challenges and opportunities facing AP and P2P professionals today.
Keynotes That Set the Tone
Our Accounts Payable Conference showcased keynote speakers who each tackled a pressing topic that impacts the AP landscape. These presentations brought fresh perspectives and showcased innovative strategies to address common challenges.
– Artificial Intelligence at the User Level in Vendor Setup and Maintenance: As AI continues to revolutionize industries, AP is no exception. This session explored the integration of AI into vendor management processes, helping attendees understand how automation and machine learning can streamline operations.
– Heading for the Best in Class During Rapid Growth: The New Balance Journey: New Balance’s journey to AP excellence during a period of rapid growth was both inspirational and informative.
– Leading the Next Generation of Accounts Payable: This keynote focused on leadership development within AP teams. With a new generation entering the workforce, the session discussed strategies to harness their potential while ensuring knowledge transfer from seasoned professionals.
– Resilience in Times of Rapid Change: Change is constant, and resilience is key to thriving amid shifting economic, technological, and regulatory landscapes. This session provided practical tips on building resilience within AP teams, helping them adapt quickly to change.
– The Human Element: Unmasking Social Engineering’s Role in AP Fraud: Fraud remains a top concern for AP departments, especially with the rise of sophisticated social engineering schemes. This eye-opening session revealed how human behavior is often exploited in these schemes and what leaders can do to mitigate these risks.
Expert Panels That Fostered Dialogue
In addition to keynotes, the event featured several engaging panel discussions, each focusing on a critical area within AP.
– IFOL Research: Accounts Payable Leadership Priorities: This panel presented the latest findings from IFOL’s research, highlighting the top priorities for AP leadership in 2024. From digital transformation to fraud mitigation, the discussion emphasized what leaders need to focus on to stay ahead.
– The Impact of AI on Accounts Payable: This panel explored how artificial intelligence is reshaping AP functions beyond just automation. It looked at AI’s potential to improve decision-making, enhance accuracy, and provide predictive insights.
– Reducing the Fraud Risk in Your Vendor Payments: With fraud risks increasing, this panel focused on actionable strategies to protect vendor payments from cybercrime. Attendees learned about the latest tools and practices to safeguard transactions and prevent costly breaches.
– The Importance of Establishing and Sustaining Strong Vendor Relationships: Strong vendor relationships are essential for smooth AP operations. This panel provided tips on how to build trust with vendors, improve communication, and manage relationships effectively.
Key Takeaways for Attendees
The delegate feedback following the event was overwhelmingly positive, reflecting the quality of the content and the networking opportunities provided. Here are some highlights from what attendees had to say:
“This was my first IFOL event, and I’m so glad I was able to come and participate in the discussions and hear from the leaders in this space. Looking forward to taking these ideas back to our organization to implement positive changes.”
“All sessions of the conference were beneficial in some way. The ability to ask questions and hear about how companies shifted and adapted to the ever changing AP world was valuable.”
“I went into the IFOL AP conference not knowing what to expect. I kept my ears, eyes, and mind open for ideas and suggestions, and left the conference with many ideas on how I can better my organization’s AP processes.”
“This was one of the better conferences I have been to. Keep up the good work and grow!”
A Special Thanks
This event would not have been possible without the support and dedication of several key contributors. A heartfelt thank you goes to our incredible keynote speakers and our fantastic panelists for sharing your experiences and expertise in the world of AP and P2P.
We’d also like to thank our conference our sponsors: headline sponsor SoftCo, gold sponsors Stampli, Trustmi, and xSuite, and exhibitor FlexTecs.
Future Accounts Payable Conferences
Our next Accounts Payable and P2P Leadership conference will take place in Toronto, Canada on November 5th, 2024, and then we are in London, UK on March 21st, 2025. We can’t wait to continue the conversation and explore even more transformative ideas in the AP and P2P space.
If you couldn’t attend the Chicago event, don’t miss out on these upcoming opportunities to learn from the best and connect with leaders in the field.
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