MineralTree

DECEMBER 15, 2022

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. This is the second highest it’s been since 2009.

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

SEPTEMBER 29, 2021

From the expansive list of industry myths, three stand out above the rest because they can be especially influential in leading you down the wrong, or right, paths in your processing of invoices and payments. Still not convinced? Why is disbelieving this myth so important?

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 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

Nanonets

MAY 31, 2023

Vendor Fraud: Employees collude with external vendors to create fake invoices or overstate charges, leading to improper payments. Satyam Computer Services , an Indian IT services company, faced a major financial shadow spend scandal in 2009. Moreover, automation brings significant improvements in accuracy and data validation.

Data Entry 52

Data Entry Auditing Computation Purchase Order 52

Nanonets

MAY 31, 2023

This was evident during the 2008-2009 financial crisis, as shown in McKinsey’s survey above. Robotic Process Automation (RPA) and workflow management tools automate manual processes such as data entry, document processing, and invoice management.

Data Entry 52

Data Entry Invoicing Computation Collections 52

Cloud Accounting Podcast

MARCH 30, 2020

Minute7 syncs with both QuickBooks Online, and QuickBooks Desktop for invoicing or reimbursement. OnPay even makes it easy to switch from other payroll services by doing all the data entry for each client that you set up. There are some apps that do time tracking, and some apps that do expense tracking.

Accounting 40

Accounting Accounting Payroll Billing 40