MineralTree

DECEMBER 15, 2022

Tiresome, Expensive Audits. Without AP automation to centralize all of the invoices and related documents, audits are a nightmare for AP teams that must physically sort through stacks of paper to find the docs they need. Mistakes made when manually copy coding invoices take a lot of time to correct.

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

Nanonets

MAY 31, 2023

Vendor Fraud: Employees collude with external vendors to create fake invoices or overstate charges, leading to improper payments. Companies may also incur expenses related to potential restitution, program reviews, audits, and retrofitting or redesigning of processes and systems. Vendor fraud caused a total loss of $10.24

Data Entry 52

Data Entry Auditing Computation Purchase Order 52

AvidXchange

DECEMBER 1, 2016

By 2003, their invoice approval software, AvidInvoice, was enabling companies to route invoices electronically and create intelligent workflows to automate their accounts payable processes. Two months later, they founded AvidXchange. In 2011, AvidXchange formed a new Energy Information Services (EIS) group, delivered by EnergySolve.

Accounts Payable 40

Accounts Payable Accounts Payable Billing Data Entry 40

AvidXchange

FEBRUARY 22, 2017

I’ve also seen companies decide to automate because they are dealing with compliance issues or having challenges providing invoices for an audit. In 2009, he joined Concur Technologies where he served in a variety of executive sales roles and became revered as an expert in the AP space.

AP 52

AP Accounts Payable Accounts Payable Billing 52

Cloud Accounting Podcast

MARCH 30, 2020

Minute7 syncs with both QuickBooks Online, and QuickBooks Desktop for invoicing or reimbursement. The last time the IRS sent stimulus checks, in 2008 and 2009, it took more than two months to get the money in the mail. If you're getting audited, like, "Hey, we're gonna stop right now and not do anything."

Accounting 40

Accounting Accounting Payroll Billing 40