Automation is ruling the accounts payable industry for years and this year, artificial intelligence and robotics will play a key role in AP. Artificial Intelligence (AI) The usage of artificial intelligence in accounts department may seem something like out of fiction, but that’s actually what going to happen in 2017. AI is nothing but implementing […]
Artificial Intelligence & Robotics: Emerging Trends in AP Read More »
Finance teams are undergoing a rapid change in organizations of all sizes. With technology on the rise, automation takes the job of accounting & administration and finance leaders will work to set the business strategy. Today, the finance industry is recognized as a center of business intelligence. The following are key takeaways from this technological
Modernizing Accounting & Finance Operations Read More »
Every year, you look at trends for how to manage business processes better. Accounts payable processes is one key functional area in business that still needs perfection. One technology that is helping business with accounts payable is the cloud. In 2016, most businesses have adopted cloud technology, making it easy to access financial data. So,
Agile Dashboards & Mobile Invoicing – 2017 trends for Accounts Payable Read More »
While every business wants to automate back-office processes, the ultimate goal is to control invoice and spending processes. Automated accounts payable processes allow organizations to improve processes instead of depending on manual efforts. Automated accounts payable software not only controls the invoice routing process but also reduces processing times, decreases workload, and cuts down the
How AP Automation Benefits your Business Read More »
Financial managers are expected to have greater control and visibility over the entire procure-to-pay processes. As the P2P process is one complex business process, businesses need to take an integrated approach to free up working capital and create more agile finance operations. This can be achieved by making e-procurement and accounts payable work together from
Eliminate Silos Using Accounts Payable Software Read More »
Although AP is not the key focus of CFOs’ day-to-day activities, leveraging the power of AP automation can turn this department from a cost center to a revenue generator. However, CFOs should consider four things to realize the full value that accounts payable software brings to the business: Take advantage of early payment discounts Savvy
Maximizing ROI with Accounts Payable Software Read More »
When it comes to direct spend, there are so many controls in procurement and accounts payable. The purchase of goods depends on the company, however, to run the day-to-day operations of the business, you have to effectively manage the indirect spend. Insights on indirect spend are lacking due to decentralization and lack of protocols, rules
The 3C Approach to Managing your Indirect Spend More Efficiently Read More »
Technology has revolutionized the way business processes work. A part of it is intelligence capture technology, which is a rule-centric and data-centric approach, wherein invoice settings for all the countries, currencies, tax rates, and business rules will be entered into the system. Automated accounts payable software would extract key information such as invoice number, date,
Giving Accounts Payable the Business Intelligence Touch Read More »
There are a number of accounts payable software solutions in the market. Choosing the best software requires you to consider many aspects. Of the many, the following are a few key features you should look for when choosing your AP solution: Detailed reporting Your software should support comprehensive reporting features so that the data presented
Choosing accounts payable software – 5 things you should look for Read More »
Effective functioning of the accounts payable department is critical for any organization. Comparing existing AP processes, performance metrics, pain points, and strategic objectives with other companies can help you set benchmarks. The AP department faces challenges while processing invoices due to the following reasons: Overhead costs and turnaround times to process a single invoice Manually
Accounting Processes made Easy Read More »
