Most organizations have been working with paper-based processes when dealing with suppliers, but this approach comes with frictions. Accounts payable departments should wait for bills and invoices to go onto their table, and staff have to enter details before processing payments. The pandemic has made employees work from home and made it more challenging for […]
Eliminating the accounts payable pain points with automation Read More »
Have you ever checked how much your company is spending on accounts payable processes? You must take several factors into consideration such as time spent on invoice reconciliation and management, and any late fees or interest charged due to delayed payments. With all those factors, the costs will add up. However, many of these costs
The Business Value of Automating your AP Procedures Read More »
Well-managed accounts payable (AP) process can help companies gain visibility into the invoice and cash management. However, manual AP management will lead to common challenges and problems in real-time. Let’s take a look at some of the common AP problems and how accounts payable software can resolve those and ensure effective AP management. Common AP
Commons Accounts Payable Problems and How AP Software Can Resolve Read More »
Today, accounts payable is not just responsible for making payments, in fact, they forecast cash flow, streamline payment processes, track supplier payments and manage different payment channels. The larger the company grows, the more responsibilities the accounts payable department has to handle. Automated accounts payable (AP) software will help you better deal with challenges AP
3 Challenges AP Managers Face and How to Overcome Read More »
Managing your Accounts Payable (AP) processes is overwhelming. With so many challenges, it is difficult to handle your AP procedures efficiently. However, most of the AP challenges can be overcome with the help of automation. Let’s take a look at some of the most common AP challenges across any organization: Data Entry Manually entering data
Fix Accounts Payable Challenges with Automation Read More »
Today, the nature of the AP function has changed from a cost center to value generator. Unfortunately, many AP departments are unable to evolve as they are struggling with outdated technology and manual invoice processing. Streamlining AP workflow and procure-to-pay supply chain will result in better, faster outcomes and empowers both buyers and suppliers. Invoice
Reinventing your Accounts Payable Procedures With Automation Read More »
Organizations of all sizes look for a simpler way to manage orders, review purchases, and get some insight into where spending is occurring. Having a purchase order system can help deal with purchase orders and make sure appropriate payment are made and inventory stays accurate. With hundreds and thousands of goods received each day, it
Spotting AP Fraud with 2-way and 3-way Matching Mechanisms Read More »
It is the Accounts Payable (AP) department that handles cash flow within the organization. There might be a lot of circumstances where mistakes can happen. The good news is that most of the mistakes are avoidable by following some of the best practices. Here are a few best practices that empower AP departments to perform
Best Practices that Impact your AP Operations Read More »
If your accounts payable department is not adding value to your business, it is evident that you need to change the way it works. The fact is that the accounts department plays a key role in any business and to get the best value from the function, it is better to equip the department with
Accounts Payable Software to Streamline your Invoice-to-Pay Procedures Read More »
