The Invoice Processing Challenge In almost every industry, invoices are received in paper or electronic format. The invoices are then reviewed and forwarded, usually through inter-office mail, for approve and coding. The invoice approval process itself usually resides in the hands of seasoned accounting staff, who are not always available, which ends up delaying payments.… Continue reading 6 Reasons Why Invoice Processing Automation Is The Future Continue reading about 6 Reasons Why Invoice Processing Automation Is The Future
Robotic Process Automation (RPA) is an innovative technology that transforms how businesses manage the Accounts Payable department. It allows businesses to design software that interacts with different digital systems and imitates the actions of their employees. RPA software integrates different processes into an extensive programmed system that seamlessly performs various tasks simultaneously. You can program… Continue reading Robotic Process Automation and Its Impact on Accounts Payable Continue reading about Robotic Process Automation and Its Impact on Accounts Payable
Retail managers need to handle hundreds of different vendors that generate large volumes of invoices. Processing these invoices manually is extremely tedious and time-consuming. Your staff has to review each invoice individually and then match it against purchase orders line by line to verify each transaction. At the same time, handling retail invoices manually carries the risk… Continue reading How To Use Invoice Automation to Make Better Financial Decisions In The Retail Industry Continue reading about How To Use Invoice Automation to Make Better Financial Decisions In The Retail Industry
With 39% of Accounts, Payable departments reporting high invoice processing costs and substantial errors as their biggest challenges, inefficient invoice workflow management poses a significant risk to business performance. Simply put, an invoice workflow is a process that determines how business routes and approves invoices. Although manual invoice workflows work, it’s tedious, time-consuming, and considerably less reliable,… Continue reading 5 Best Practices to Optimize Your Invoice Workflow Management Continue reading about 5 Best Practices to Optimize Your Invoice Workflow Management
The company mailroom has traditionally been one of the most chaotic departments in an organization. With packages and envelopes flooding in now and then, it has always been full of manual activity and, thus, prone to errors. These traditional systems drained resources quickly in terms of staff, time, and cost. This is why companies today… Continue reading The Role of Digital Mailroom Automation in Accounts Payable Continue reading about The Role of Digital Mailroom Automation in Accounts Payable
In today’s market, your digital transformation efforts play a crucial role in your business’s success. As technology continues to evolve rapidly, changing manual, paper-based processes to automated workflows have become necessary to compete with other businesses and stay relevant. Intelligent capture is a technology that powers us through these changes, allowing us to identify and… Continue reading Intelligent Capture Checklist: 4 Ways to Leverage Intelligent Capture Strategically Continue reading about Intelligent Capture Checklist: 4 Ways to Leverage Intelligent Capture Strategically
An effective digital transformation strategy is a catalyst for business growth and allows organizations to make most of the cutting-edge technological innovations. With technology disrupting most traditional business models, organizations need to invest more than ever to stay relevant in a fiercely competitive market. Unsurprisingly, enterprise spending on digital transformation was $2 trillion in 2019 alone. Continue reading about Intelligent Data Capture – Why Is It a Key Element of Digital Transformation Strategy
Innovations in technology make disruptive changes to the business landscape. By incorporating automation and adopting cutting-edge solutions, organizations can accelerate their business processes and earn greater profits. Unsurprisingly, 70% of organizations prioritize digital transformation initiatives, as the adoption of new technology is often a catalyst for growth. Likewise, the Accounts Payable industry is adopting disrupting… Continue reading Upcoming Account Payable Trends in 2020 – What You Need to Be Ready for Continue reading about Upcoming Account Payable Trends in 2020 – What You Need to Be Ready for