It Is Broken and Must Be Fixed: How Replacing Manual Processes with Technology Can Save Millions
In the current environment, banks cannot afford the continued use of processes and practices that are inefficient. Numerous opportunities exist for applying automation that reduces overhead, costs, and error rates. In this webinar, the use of machine learning and robotic process automation to audit high-value, complex vendor invoices will be discussed. Vendor invoices averaging a 10 percent error rate with some errors totaling hundreds of thousands of dollars annually. Automating vendor invoice auditing can reduce this loss rate and deliver an ROI within months, not years.
Who Should Attend: Chief Technology Officers, IT/Operation Leads/Specialists, Chief Operating Officer
- An understanding of the impact manual, ineffective processes have to a bank’s bottom line and strategies that can limit this loss
- An understanding of the types of automation that are well suited to replace repetitive, manual processes to lower cost, decrease overhead and improve quality.
- An understanding of how this technology may be applied to the auditing of high value vendors who submit complex invoices that banks may not audit until months after payment.
- An understanding of the cost and ROI of the application of various technology bundles for automating invoice auditing.
Executive Vice President
Michael Carter has more than 15 years of executive technology leadership ranging from early-stage start-ups to international organizations, with a career in financial services stretching over 25 years. He was the CMO for the S1 Corporation and served in several management roles at ACI Worldwide. As an executive vice president at SRM, he serves as a subject matter expert in the practical application of proven technology in vendor management. Carter has been featured as a speaker at dozens of conferences and he is regularly quoted in the industry media.
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Season Pass Members receive 4 individual logins to every webinar
Participants will earn 1.0 CPE credit
Field of Study: Specialized Knowledge
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based
Refunds and Cancellations: Webinar registrations are non-refundable. If the registrant is unable to attend the designated time and date of the webinar, a playback link and any written materials will be provided within 2 business days following the conclusion of the webinar
Western Bankers Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:www.nasbaregistry.org.