Despite a banner year for innovation and investment in fintech, many finance teams still rely on incredibly dated manual methods of managing their companies' spending that can be both time-consuming and error-prone. A company cannot maintain an accurate view of its spending if it cannot see spend commitments until it receives an invoice.
The less visibility a company has into its spending, the greater the company's vulnerability to errors and fraud, and the greater the company's risk of overspending and incurring lost opportunities for cost savings.
There is a better way. During this Webcast, we will outline how companies can improve the accuracy and efficiency with which they record spending by:
- Identifying which aspects of invoice management, such as three-way matching, lend themselves best to automation,
- Developing consistent workflows for the submission, review, and approval of invoices and purchase orders, and
- Establishing, communicating, and enforcing policies to maintain employees' compliance with regulations and requirements for spending responsibly on behalf of the organization.
About the Speakers
Greg Smithies, Director of Finance and Operations, Neuralink and The Boring Company
Greg has more than seven years of experience in venture capital, private equity, and banking. He currently leads the finance and operations team at Neuralink and The Boring Company under founder Elon Musk.
A former investor in Battery Ventures, Greg focused on investments in early-stage, growth, and late-stage companies in industries that primarily included enterprise IT, IT infrastructure, and software. He has served as vice president of finance and accounting with Versive, a machine learning startup based in Seattle, and he worked in global strategy and corporate development for Citigroup's Securities and Fund Services.
Derek Mernagh, CPA, Assistant Controller, Yelp
Derek has more than ten years of accounting, auditing, and finance experience. A chartered professional accountant, he is the assistant controller with Yelp, where he manages the month-end close process, SEC reporting, and audits. He started his career as a senior auditor with KMPG in Dublin, Ireland. He has held various positions in accounting with Ralph Lauren and Google, and served in the role of Group Financial Controller with Populis, an on-line media company.
Kurtis Warren, Product Manager, Procurify
Kurtis has more than five years of experience in spend management software consulting and product management. He has implemented software-as-a-service processes for companies that include A3 by Airbus, Hootsuite, and the biotech company Samumed. After working with senior finance leaders of major organizations, Kurtis understands the problems and pains that the finance function faces, and is passionate about sharing what he has learned, as well as his advice, with CFO.com's audience.
About the Moderator
Joe Fleischer, Editorial Director, Finance Channel, Argyle Executive Forum
In his role as finance channel editorial director with Argyle Executive Forum, Joe Fleischer focuses on developing virtual events on topics that reflect the primary concerns and priorities of senior finance executives. He is based in New York.