How to Combat Fraud in Accounts Payable
Fraud can wreak massive havoc for your company in terms of your reputation and finances. AP fraud is often attempted in the form of duplicate invoices being submitted for payment. As per the Association of Certified Fraud Examiner’s report of 2020, a typical fraud case lasts for fourteen months before it is identified and causes a loss of almost $8,500 ...
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Handling Difficulties in Expense Management with a Robust Spend Management Platform
Finance, supply chain, and procurement departments have to work together to tackle broader business challenges. Though each team has a unique function, spending decisions should be made quickly. Adapting and responding to changes in the business, eventually creating new business strategies, and tapping into a new and changing workforce is important. To develop a strategic approach for spend management, companies ...
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Ways to Resolve Major Problems in Expense Management
Managing expenses manually can be a tedious process. When data is collected, it remains stagnant until there’s human intervention. Error-prone and clunky expense report forms, slow reimbursements, and confusing travel and expense policies are all key frustrations for your staff when it comes to expense management. Not only do your employees get annoyed, but also your organization lacks complete visibility ...
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How a Helpdesk Software Help Your Customer Support Team
Every organization has to serve its clients satisfactorily- that’s the basis on which a business should run. But it’s also true that companies have to treat their staff properly as well. If an organization only takes from its workers and gives them back nothing in return, it is going to leave behind employees annoyed resulting in a high turnover rate. ...
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Key Features Businesses Should Look for in an Accounts Payable Solution
Accounts payable processes come with a lot of manual data entry and inefficient workflows that add up to additional burden within the accounts payable department. Inefficient accounts payable (AP) processes hold up businesses from leveraging supplier relationships to their fullest potential. However, AP software can automate all the accounts payable processes and saves you a lot of time and effort. ...
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Why Businesses Need Advanced Spend Management to Support Remote Work
The increasing popularity of remote work is changing how businesses operate. Remote work was once a rarity among a selected set of employees but is now quickly becoming a defining feature of today’s work model. There are many reasons that employees may need to work from home – transportation or health concerns or simply a flexible work structure. For example, ...
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