CFOs and the New Accounts Payable Department
In this article, we’ll explore how and why CFOs can and should embrace new technological adaptations modern AP department.
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In this article, we’ll explore how and why CFOs can and should embrace new technological adaptations modern AP department.
In a modern enterprise business, there isn’t much of a reason that the accounts payable department should be relying on paper at all. Historically, when imagining what typical AP looks like, one might envision paper invoices, paper checks, sticky notes […]
Collaboration between two business partners always begins with the understanding that their combined efforts are far more effective than those of any single entity standing alone. Departments within an organization act as business partners, working towards the common goal of […]
In a business, events happen that may seem simple on the surface, but can actually do critical damage over time. One of these slow but potentially devastating instances is stalled payment of invoices. These payment delays can injure relationships with […]
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, […]
When implementing AP automation, many organizations worry about whether their suppliers will be willing to make the switch over to e-invoicing. Luckily, high-level solutions offer invoice digitization as a standard part of their software. With invoice digitization, suppliers can still […]
Imagine a well-oiled assembly line—every function is done correctly and as quickly as possible. In today’s world, that assembly line involves humans and machines working in tandem to get the job done. For AP, that means a fully electronic system […]
The Health Insurance Portability and Accountability Act (better known as HIPAA) set forth requirements for the secure access, storage, and exchange of health information. These requirements extend beyond just hospitals—take for example, HIPAA compliant accounts payable automation for healthcare. What […]