As businesses from around the world embrace digitization to cut costs and enhance efficiency, most try to leverage the financial and operational benefits offered by accounts payable software. AP software plays a critical role in automating key processes in accounts payable, allowing companies to significantly reduce the time, cost, and errors caused by manual procedures.… Continue reading Why OCR Alone Isn’t Enough to Optimize AP Processes for Your Business? Continue reading about Why OCR Alone Isn’t Enough to Optimize AP Processes for Your Business?
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
Disputes are a cause of concern for businesses all around the world. Companies have to handle various types of disputes routinely to ensure the smooth operation of their businesses. While administration disputes, delivery disputes, quality disputes are common, invoice disputes are the ones that affect businesses the most. Dealing with accounts payable and invoices is… Continue reading What Are Invoice Errors and Disputes? – 4 Ways to Avoid Them Continue reading about What Are Invoice Errors and Disputes? – 4 Ways to Avoid Them
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
In an ever-changing business landscape, retail businesses constantly rely on cutting-edge technology to stay ahead of their competition. Retail business workflows are plagued with complex and manual processes for managing seller payments. Not only do these manual processes down business workflow but also incur unnecessary costs during invoice processing. A whitepaper issued by the Institute… Continue reading Intelligent Invoice Management – What It Changes for Retail Businesses Continue reading about Intelligent Invoice Management – What It Changes for Retail Businesses
The emergence of Covid-19 has affected supply chains across the world. According to RapidRating’s State of Supply Chain Survey, after COVID-19, only 29% of businesses remain fully operational, with 57% of them being partially open. In the absence of raw materials, businesses fail to manufacture goods and meet the demand of their customers. What starts as a… Continue reading How to Streamline Supply Chains Through Accounts Payable Automation Software Continue reading about How to Streamline Supply Chains Through Accounts Payable Automation Software
Outstanding invoices severely hinder an organization’s earning capacity. If businesses are not paid for their services on time, it can take a significant toll on their finances. This is why invoice processing plays a crucial role in business, regardless of the industry. It is the lifeblood of all financial operations and ensures the timely payment… Continue reading Key Differences: Automated Invoice Processing VS Intelligent AP Automation Continue reading about Key Differences: Automated Invoice Processing VS Intelligent AP Automation
Key Performance Indicators (KPIs) are essential for measuring solutions’ overall performance and contribution to business success. Accounts Payable Automation solutions are no different, as they allow us to streamline our financial operations. Accounts payable processes have many moving parts, numerous manual steps, and several employees involved across the organization. This is why determining metrics is… Continue reading Accounts Payable Automation: What Are the Top KPIs for Evaluating Performance? Continue reading about Accounts Payable Automation: What Are the Top KPIs for Evaluating Performance?
Is a recession on the horizon? There is a lot of speculation by the media that there is a looming recession, and 60% of enterprises (500+ employees) are planning to take action to prepare for this possible economic downturn. Among many organizations, a strategy that has become a priority is to focus on reductions in… Continue reading Machine Learning can help your business thrive in the looming recession Continue reading about Machine Learning can help your business thrive in the looming recession
For more than a decade, the global economy has been steadily growing. However, many economists predict it could slow down in 2023. While we cannot be sure about the future, an overwhelming majority (83%) of businesses are concerned about a recession in 2023. With inflation, rising unemployment, and constrained global supplies, companies must implement a… Continue reading 6 Business Technology Strategies to Prepare for A Recession in 2023 Continue reading about 6 Business Technology Strategies to Prepare for A Recession in 2023