According to many accounts payable (AP) managers, AP processing is among the most cumbersome and time-consuming processes in accounting. With more than 45% of B2B payments still being manually completed with paper checks, one thing is clear; there is a world of opportunity available to save your time at every stage of the AP process. From the moment you receive ...

Today, many aspects can go wrong with a typical company’s audit spending procedures. Auditing supplier invoices manually with employee expense reports are tedious and time-consuming. Several organizations canceled conducting partial audits, which caught some discrepancies because of the time it took to complete one. However, it leaves your business at a higher risk for fraudulent activities and errors. Read on ...

The Procure-to-Pay (P2P) process has gained a lot of importance over the past few years. CPOs, as well as CFOs, are continuously searching for new ways to minimize expenses and enhance savings via efficiency. Traditional paper-based P2P methods bring lots of challenges such as lack of visibility into spend management, lack of compliance with the contract, and general ineffectiveness. On ...

Accounts payable tasks can turn out to be time-consuming and ineffective in financial processes without automation. Today, many AP departments still need to key-in invoice data manually. They are spending valuable time printing paper checks, mailing payments, filling paper records, chasing down signatures, and more. Also, they must monitor and calculate the financial details include applicable discounts on Excel sheets. ...

The procurement process comes with a lot of chaos, and when automated workflows are not in place, the process is a mess. The procurement system comprises multiple workflows that require multiple people to do their job seamlessly. However, without transparent workflows in place, the process is challenging. Automation in procurement helps achieve efficiency. There are multiple benefits of automating your ...