Nanonets

AUGUST 21, 2023

B2B payment automation involves everything from the automation of capturing and processing invoices to making payments to vendors and reconciling those payments in your books. A 2018 report revealed that businesses in North America spend $187 billion annually on Accounts Payable (AP) processing, and labor accounts for over 90% of these costs.

Invoice Processing 52

Invoice Processing Reconciling Invoicing Data Entry 52

AvidXchange

MAY 22, 2018

In fact, according to the PayStream 2018 Payables Insight Report, manual data entry is one of the top challenges for accounts payable systems—by 48% of surveyed respondents. Between invoice entry, approvals, and storage, it’s easy to misplace proprietary documents. Does the approver have it? Has it been entered into the system?

Accounts Payable 52

Accounts Payable Accounts Payable AP Invoicing 52

Nanonets

FEBRUARY 26, 2024

Sorting through stacks of paper invoices, reaching out to approvers individually, and mailing checks are extremely tedious and error-prone. The key activities in an AP process (Data extraction, invoice coding, ERP sync) are essentially data transformation activities. Automating those would be straightforward.

Accounts Payable 52

Accounts Payable Accounts Payable AP Data Entry 52

Nanonets

MAY 31, 2023

The contract may simply be a call for quotation, issuing purchase orders and getting the item. On the other hand, it may also involve back-and-forth negotiations to fix the quality, quantity and timelines for the purchase. The purchase order is a legally binding document between the company and the vendor.

Purchase Order 52

Purchase Order Record Keeping Budgeting AP 52

AvidXchange

APRIL 10, 2019

Travel Expense Management: Trends and Predictions According to the American Express Global Business Travel Forecast 2018 , some regions of the United States, such as the Chicago and Charlotte metro areas, experienced upwards of five percent higher total business travel costs in 2018 compared to the year prior.

Purchase Order 40

Purchase Order Expense Reports Accounts Payable Accounts Payable 40

AvidXchange

FEBRUARY 19, 2021

By scanning and uploading an invoice for routing electronically, the company cut days to weeks off its routing process. The company also accessed images of invoices for research use without needing to pull and refile paper copies. An initial application will be converting the paper-based invoices and electronic attachments.

Accounts Payable 40

Accounts Payable Accounts Payable AP Accounting 40

FinOps Foundation

DECEMBER 16, 2024

These updates span from pricing calculators and commitment analyzers to help make choices before purchasing, to allocating and optimizing what you are already using, and finally to governing and granular invoicing. A separate receiver can be designated for each invoice.

FinOps 130

FinOps FinOps Computation Invoicing 130

Cloud Accounting Podcast

MAY 26, 2020

Why should a bank or my government give money to businesses who can't even show a 2018 return? It sounds like kind of a little bit of a bank feed, but they're gonna tie it back to whether or not invoices are paid or outstanding. They're going in deeper with that. So, it feels like it's gonna be like a souped-up bank feed of some type.

XERO 40

XERO Accounting Accounting QuickBooks 40