Accounts Payable plays a crucial role in business operations at any organization. The primary function of an AP department is to ensure that all the official invoices from the vendors are approved, processed, and paid. However, the sad truth is that the manual process slows down the payment cycle from achieving something more than only […]
Top 3 Ways Your Organization Needs To Automate Accounts Payable Read More »
Invoice processing and accounts payable management is considered to be a reflexive function of business, but digitization has allowed the process to become more strategic. Accounts Payable solutions streamline the entire process, ensuring that best practices are being implemented consistently. The following are proven methods you can use within an accounts payable solution to streamline
Accounts Payable Management: Key Notes To Consider Read More »
There are diverse teams working on expense, travel, and invoicing platforms. For instance, maybe a finance manager is reimbursing expenses to employees, the travel team is busy booking business trips for employees, and the accounts payable department is working on paying suppliers. This process can have a dreadful impact for the finance function, because you
4 Reasons How Integrating Travel, Invoice, and Expense Solutions Can Bring Success Read More »
An expense management process for employees can be challenging, tedious, and time-consuming, especially for individuals who are out of the office. Employees have a natural tendency to maximize their personal profit. It turns out to be a repeatedly tempting proposition, especially when done at the expense of others. Chastising employees constantly over their uneducated use
Top 8 Ways To Control Corporate Travel Expenses Read More »
Handling invoices plays a crucial role for your business in having the proper accounting and cash flow. In case your scanned invoice document is lost, the digital version can be very helpful. Some invoices are easily approved whereas others are delayed due to problems in the invoice approval flow. The main problem with an ineffective
Strategies To Increase Efficiency In The Invoice Process Read More »
Today, digital transformation is an overused buzzword or talk of the industry. You can read about it almost everywhere and likely hear that ignoring digitization can make your business stagnant. But many still do not have a proper understanding of what it really means. Hence, many organizations are quite puzzled and have no idea how
Reasons For Digitizing Your Procurement Process Read More »
Analytics related to business trends and numbers enable you to make relevant decisions and foresee future business scenarios. With today’s technology, businesses need to deal with a huge volume of analytics. Previously, it consumed a lot of time to compile, analyze, and clean data whereas now, it can be collected in real-time. Organizations that use
Expense Data Analytics: A Cost Management Tool Read More »
Finance and accounting departments need automated solutions in order to facilitate better decision making, monitor performance, and, make informed decisions using data. When employees spend more in various expense categories with multiple vendors and payment methods, the need to work collaboratively is even more important. A study by Forrester revealed that 61% of businesses believe
Making Spend Analysis Easy Through Collaboration Read More »
Artificial Intelligence (AI) plays a significant role in recognizing opportunities for market growth a business operating in various sectors. Many firms have adopted a dedicated procurement solution for garnering the essential benefits of AI. But, procurement leaders are prioritizing the baseline analytics over AI. Challenges arise every day with integration, data quality, and availability that
The Impact of Artificial Intelligence in Procurement Read More »
Ineffective travel and expense procedures leave your employees annoyed and cause a lack of visibility on where your money is exactly going. Error-prone spreadsheets and slow reimbursements are major frustrations when doing travel and expense management. Today, globalization, enterprise mobility, and international evolution are the root causes for a rise in travel expenses for a
Top 7 Expense Management Challenges For Business Travel Read More »
