To be successful in this competitive world, businesses need to leverage any advantage available to them in terms of strategy, cost, or time. Accounts payable as function keeps track of all invoices, payments and spend, hence is the biggest opportunity for cost saving. Also, it provides the business with actionable
In any organization, accounts payable can be paper heavy. Businesses always have a mass of information that has to be tracked, stored and managed and the processes such as supplier contacts and account filling have to be dealt quickly and efficiently. On top of all, large businesses often have a
In this technological driven day and age, everything has become electronic and the majority of businesses are showing an interest towards the automation of supply chain processes in an electronic format. However, the procurement pay cycle is not an exception for this. Did you know? What is this Electronic procurement
Un-managed spend is a major concern for many businesses. It prevents the necessary visibility into an essential part of the business spend thereby making planning and forecasting complicated, incomplete or inaccurate. Also, un-managed spend significantly reduces the value of a procurement organization. The procurement professionals are typically tasked with high
Many organizations struggle to find the right balance between reducing costs and growing their business. For some, it seems like an impossible equation, for others it’s a great challenge. Businesses tend to overlook one very crucial aspect of their daily activities when thinking about cost savings – manual tasks, and
Payment security is the main concern for every organization, whether they process transactions digitally or manual paper processes. Today, online cyber attacks on businesses are on the rise, and technology is struggling to keep up. Though this may seem awful, there are different ways you can fight against payment fraud
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