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Previous economic disruptions, including the financial crisis of 2008, seriously impacted financial institutions and resulted in an onslaught of new compliance and capital requirements. Investing in automation technology, such as accountspayable (AP) software, helps AP staff reduce manual tasks like invoice processing and bill pay.
HOAs experienced heavy pressure during previous recessions, including the 2008 banking crisis. Thirty-six percent of survey respondents are focusing their investments on automation, including accountspayable (AP) solutions that replace manual back-office processes like invoice processing and bill pay that are critical to operations.
Piedmont Service Group shares how AvidInvoice and AvidPay for Microsoft Dynamics GP streamlined their AP Process Ken Oesch joined Piedmont Service Group in 2008 and has served as its CFO for the past nine years. AvidInvoice and AvidPay seamlessly integrate with the company’s existing Microsoft Dynamics GP accounting software.
When the 2008 financial crisis struck, real estate management firms were largely operating as they had been for decades. Automated AP solutions are especially helpful to real estate firms because of the industry’s notoriously complex, time-consuming AP processes. The recession caught many off guard.
DOWNLOAD WHITE PAPER DOWNLOAD: How to Attract, Retain & Grow Top AP Talent Amid Economic Uncertainty The post Financial Services Industry Faces a Hiring Crisis Amid Economic Uncertainty appeared first on AvidXchange. News & World Report.
It goes back to the 2008 recession when agencies were forced to lay people off. Automating AP departments offers powerful relief to agencies. Their AP departments play a key role, working behind the scenes to handle the financial side of media buys. The industry’s labor crisis isn’t new.
In 2008, many seniors were unable to sell their homes – or chose not to – when the housing market crashed and the country catapulted into a recession. Organizations that invest in AP automation often have an advantage over those that still rely on cumbersome, time-intensive ways of doing business.
So we automated the entire AP cycle, so we're constantly pushing the envelope on how we can help the business. Hilla Sferruzza, MBA, CPA has been the Chief Financial Officer, Executive VP for Meritage Homes Corporation (NYSE:MTH) since 2016 and its Chief Accounting Officer, Senior Vice President, Corporate Controller since 2008.
Another 40 percent said they would hire a firm based on its ability to offer proactive advice about their businesses, and 48 percent said they would stop referring their accounting firm if it could not offer strategic advice. An easy way to offer profitable client accounting services in your firm is to start with accountspayable.
The financial crisis of 2008 rocked the construction industry. While another recession is a real possibility, we’re not at the same level of crisis we experienced in 2008.” In this blog, we’ll unpack the survey results and dive deep into how the construction industry is preparing for a potential recession.
By using Bill.com, accounting firms can free up more time for valuable strategic advisory services by helping clients shift their accountspayable process online. Stay tuned to hear more from our sponsor, Bill.com, later in the episode. __ This episode of The Cloud Accounting Podcast is sponsored by Justworks.
The last stimulus, in 2008, it was twice that. Now, we're just paying them transaction fees. For your clients, it means helping them move quickly to a remote model and bringing key financial processes, like accountspayable, online smoothly. That is Cloud Accounting Podcast dot promo forward slash B-I-L-L.
By using Bill.com, accounting firms can free up more time for valuable strategic advisory services by helping clients shift their accountspayable process online. bust, the 2008 crisis. That is Cloud Accounting Podcast dot promo forward slash B-I-L-L. This could actually bode well for QuickBooks, and Xero.
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