In an accounts payable department that relies mostly on paper, pulling information and creating reports can be nothing short of a nightmare. Endless amounts of paper documents to be thumbed through and reviewed, eating up hours of AP’s time. Even […]
Supplier early payments yield advantages to both suppliers and to accounts payable. Suppliers have their cash flow sooner, and AP often can take advantage of discounts for paying early. For many departments that lack proper automation for their invoice management, […]
Automating accounts payable undoubtedly provides substantial benefits to a company, including reducing costs and improving efficiency. However, before implementing, it’s important to be aware that, like many things in life, there is no such thing as a one-size-fits-all solution. When […]
If you’re exploring the market to find an accounts payable automation solution, you may have noticed that there are many different solutions to choose from. When examining these solutions, it’s important to keep in mind that AP departments look different […]
With technology rapidly advancing, many businesses have cut down on—if not completely eliminated—their use of paper checks. As businesses explore electronic invoicing options, they are finding that electronic payments provide benefits to both the supplier and customer. Overall, there are […]
Most AP departments have heard of “early pay discounts,” but in manual or partially automated departments, lengthy invoice processing times keep them from becoming a reality. However, with the proper enterprise solution, electronic invoices are processed more efficiently and early […]
Due to the great resignation, many accounts payable departments are understaffed, and struggling to find new people to properly take on the job. Often times, the staff that already exists are either unable to come into the office or would […]
As years have gone on, different and more complex forms of accounts payable fraud have emerged. Manual and partially-automated accounts payable departments are the most at-risk of falling victim to these new forms of fraud. In a manual AP department, […]
As with most things that are automated by technology, many people worry that it if a machine is “doing all the work,” there won’t be any room for humans to intervene in the case of an error. However, instead of […]
