AvidXchange

JANUARY 1, 2021

As the new year kicks off, many of us feel a renewed sense of optimism and anticipation for the possibility of what lies ahead as we leave behind a tumultuous 2020 and start fresh in 2021. In fact, 68 percent of leaders believe their business is in a good position to grow in 2021. If you use accounts payable software.

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AP Accounts Payable Accounts Payable Data Entry 52

AvidXchange

DECEMBER 29, 2020

As a financial professional, you may have a general insight of what accounts payable (AP) software is and how it can benefit your business. This happens because estimators don’t always account for all the costly steps in the manual process, mainly labor. But there may be key details you haven’t seen. The reason?

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

JULY 14, 2022

Accounts payable departments are vulnerable to staffing issues – especially if those employees are stuck working with manual, paper-based systems. With the unemployment rate hovering at 3.6% and The Great Resignation still in full swing, finance departments are looking for ways to retain top talent.

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

Nanonets

NOVEMBER 14, 2023

In an increasingly interconnected global  economy, international accounts are a usual part of most business operations.   This guide delves into the best practices of managing international accounts payables, from traditional payment methods to automation solutions.   What are International Accounts Payable?

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

MARCH 5, 2021

As 2021 kicks into high gear, there’s an obvious question on the minds of finance professionals throughout the accounts payable (AP) software market: Will the market experience growth this year? Read more: 3 Drivers of Accounts Payable Software Market Growth in 2021 That’s remarkable and energizing.

Accounts Payable 40

Accounts Payable Accounts Payable AP Accounting 40

Nanonets

NOVEMBER 14, 2023

Accounts Payable (AP) processes are an important function for every business, overseeing the outgoing payments to suppliers and vendors. billion in 2021 to USD 7.5 Payments Reconciliation : Automated systems reconcile payments with bank statements, ensuring all transactions are accurately recorded and accounted for.

Accounts Payable 52

Accounts Payable Accounts Payable AP Invoice Processing 52

AvidXchange

FEBRUARY 10, 2021

Here’s a summary of the key findings: Construction Industry Challenges Moving Into 2021 Project delays In 2020, nearly all contractors (83 percent) experienced project delays due to the pandemic. Experts expect the number of delayed projects to drop from the mid-20s to 18 percent by the time we’re halfway through 2021.

Accounts Payable 52

Accounts Payable Accounts Payable Accounting Accounting 52

AvidXchange

JANUARY 15, 2021

As a finance professional, you may be struggling with your manual accounts payable (AP) paper processes and questioning what to do about it. Well, this accounts payable software explainer will help you get out from under tedious, inefficient data entry and on to more important matters. What is accounts payable software?

Accounts Payable 52

Accounts Payable Accounts Payable AP Data Entry 52

AvidXchange

FEBRUARY 11, 2022

The strain impacts nearly every role across agencies, from creative to those who handle accounts payables (AP) and payments. Industry players demand an AP automation provider who gets their intricacies. “Media companies often come to us because we integrate with their accounting systems and their media buying platforms.

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

Gaviti

FEBRUARY 27, 2025

While there are many conferences for finance professionals , there are no conferences exclusively dedicated to Accounts Receivable (A/R), several events heavily feature this topic, attracting numerous A/R professionals. While conferences offer valuable insights, Accounts Receivable professionals deserve continuous support to excel every day.

Accounts Receivable 66

Accounts Receivable Accounts Receivable Account Receivables Invoicing 66

Nanonets

AUGUST 17, 2023

The Accounts Payable (AP) department is responsible for the procure-to-pay process of any well-organized company and deals with the entire purchasing workflow, starting from Purchase Order (PO) processing to final payment to vendors. The move towards AP automation requires careful planning and execution.

Accounts Payable 52

Accounts Payable Accounts Payable AP Purchase Order 52

AvidXchange

FEBRUARY 19, 2021

Your business may believe it’s time to consider shifting to an automated and paperless accounts payable (AP) process. Why should I consider moving to paperless accounts payable? Paperless accounts payable enables employees to leverage remote, no-touch invoice and payment capabilities.

Accounts Payable 40

Accounts Payable Accounts Payable AP Accounting 40

AvidXchange

FEBRUARY 11, 2022

Banks’ accounts payable (AP) departments are starting to look a lot different. M&A forcing banks to reconsider AP processes, seek support Financial services was among the industries most impacted by corporate mergers and acquisitions in 2021. Which accounting systems do you integrate with, seamlessly?

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Financial Services Accounts Payable Accounts Payable AP 52

AvidXchange

FEBRUARY 7, 2022

Once approved, payments flow directly into a firm’s accounting system for automated payment processing. According to a 2021 article in Contractor Magazine citing a survey conducted by IBM, more than half of construction executives believe their firms will be a target of cybercrime, yet 68 percent of firms have no security measures in place.

Accounts Payable 52

Accounts Payable Accounts Payable AP Invoicing 52

AvidXchange

JANUARY 24, 2023

In the first episode of the “Net 30” podcast by the AvidXchange Podcast Network , host Chris Elmore sat down with Rhonda Greene and Gary Larson to discuss the future of accounts payable (AP). of all accounts payable associates are women 71.3% of all accounts payable leads are women 76.0%

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

FEBRUARY 9, 2022

The pandemic fundamentally shook accounts payable (AP) departments in real estate — forcing remote work and, in turn, accelerating the adoption of AP automation. Some real estate firms spend days manually logging thousands of invoices into their accounting system. Download the report 4.

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

MARCH 3, 2021

However, thousands of companies still use overly complex manual accounts payable processes. Those facts are the key findings from IDC and PYMNTS.com surveys focused on the accounts payable (AP) market. Read more: Is Paperless Accounts Payable Right for Your Business? What do all these stats mean?

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Accounts Payable Accounts Payable AP Accounting 40

AvidXchange

JANUARY 12, 2021

Well, there’s also a new kind of class we’ve created exclusively for you titled “ Mastering Fundamentals of Accounts Payable Automation ,” an 11 chapter, up-to-date, comprehensive AP automation guide. Final thoughts The timing of this AP automation guide comes at a particularly great time as you start fresh in 2021.

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AP Accounts Payable Accounts Payable Accounting 40

AvidXchange

FEBRUARY 17, 2021

Despite all that happened last year, there are reasons for the construction industry to be optimistic in 2021 and ride an upswing in digital transformation. Read more: Construction Industry Expects Strong 2021 Despite Distinct Challenges The Associated Builders and Contractors reaffirms the same positive hiring trend.

Accounts Payable 40

Accounts Payable Accounts Payable Accounting Accounting 40

AvidXchange

DECEMBER 10, 2020

business leaders ranging from middle management to C-level executives to learn about their challenges and priorities as they gear up for 2021. In fact, 46 percent of finance leaders expect at least half of AP and payment processes will go digital in 2021. AvidXchange recently surveyed more than 500 U.S.

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Invoice Processing Invoicing AP Accounts Payable 52

AvidXchange

JANUARY 6, 2025

In nonprofits, ROI is especially critical because there is pressure for every dollar spent to directly advance the mission, ensuring maximum impact and accountability to donors. A UConn Business study recently found that online giving has grown 42% since 2019 and mobile giving via smartphones accounted for 28% of donations in 2021.

Financial Software 59

Financial Software Budgeting Accounting Accounting 59

AvidXchange

MAY 5, 2023

Products Used: TimberScan Titanium Industry: Construction Year Joined: 2021 Accounting System: Sage Intacct Customer: Fred Herbst, FL Star Group Bio: Fred Herbst graduated Cum Laude with a degree in Business Management from Florida Gulf Coast University in 2011. The outdated process also strained their supplier relationships.

Invoice Processing 52

Invoice Processing Invoicing Data Entry AP 52

AvidXchange

JANUARY 5, 2021

With 2020 behind us, businesses in the technology market have shifted their attention to the new growth opportunities they’ll be able to capitalize on in 2021. Our company helps thousands of companies automate accounts payable (AP) transactions and process more than 12 million payments annually across the AvidPay Network.

AP 52

AP Computation Accounts Payable Accounts Payable 52

MineralTree

MAY 18, 2023

According to a 2022 report by the Association for Financial Professionals (AFP), 71% of organizations surveyed experienced attempted or actual payments fraud in 2021. It often involves faking vendor information to redirect payments from the accounts payable (AP) team to a fraudster’s account.

AP 72

AP Invoicing Accounts Payable Accounts Payable 72

AvidXchange

SEPTEMBER 14, 2022

Here’s what we learned from the survey, which was conducted in 2022 and 2021: 1. The survey revealed that just 29% of respondents report that at least half of their organization is working in a remote environment due to the pandemic, which is significantly down from 42% in 2021. We can use technology to increase member engagement.”

AP 52

AP Accounts Payable Accounts Payable Billing 52

AvidXchange

APRIL 18, 2023

McKinsey reports that 82% performed a digital payment in 2022 – up from 78% in 2021. Accounts payable (AP) automation allows your financial teams to pay bills in a similar, simplified fashion. LEARN ABOUT AVIDSUITE FOR MIP FUND ACCOUNTING The post Why K-12 Schools Need Financial Automation Now appeared first on AvidXchange.

AP 52

AP Accounts Payable Accounts Payable Financial Operations 52

AvidXchange

DECEMBER 4, 2023

McKinsey reports that 82% of Americans conducted a digital payment in 2022 – up from 78% in 2021. Traditional payments may take several days to clear, but RTPs are typically settled within seconds. RTP systems transfer funds from one bank account to another. The payee cannot pull money from a payer’s account via an RTP platform.

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Collections Reconciling Invoicing Accounting 105

Nanonets

APRIL 17, 2023

Finance teams are well aware of the tedious and error-prone nature of manual accounts payable processes. AP automation or accounts payable automation solutions are an attempt to optimise this process for finance teams. What is Accounts payable automation or AP automation? Why automate accounts payable?

AP 52

AP Accounts Payable Accounts Payable Purchase Order 52

AvidXchange

NOVEMBER 4, 2022

Dawn Palmer with Brazos Valley Schools Credit Union shares how AvidXchange helped automate their accounts payable process Brazos Valley Schools Credit Union (BVSCU) was chartered in 1954 in Katy, TX as a teacher’s credit union. When asked about making the decision, Palmer said, “We just loved the ease of the AvidAscend software.”

Accounts Payable 52

Accounts Payable Accounts Payable AP Expense Reports 52

MineralTree

FEBRUARY 16, 2023

As an example, a fraudster may impersonate a vendor — often through BEC or account takeover — and contact the AP team to update payment information to a fraudulent account. The State of ACH Fraud Today 71% of organizations were victims of payment fraud attacks or attempts in 2021.

AP 52

AP Accounts Payable Accounts Payable Data Entry 52

AvidXchange

JULY 13, 2023

Merchant accounts are an important tool for businesses today. In a world where cash and check payments are steadily declining, these accounts enable businesses to accept card-based transactions. Read on to learn more about how using a merchant account to accept virtual card payments can benefit your business.

Accounting 52

Accounting Accounting Deposits Accounts Receivable 52

CapActix

OCTOBER 10, 2023

That’s where the best accounting software for CPAs and accounting firms comes into play. Investing in the best accounting software for CPAs and accounting firms designed to facilitate the operations of accounting business is a prudent decision. million ( Source : Finances Online ).

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Accounting Software Accounting Accounting Data Entry 52

AvidXchange

FEBRUARY 1, 2023

Douglaston Development controller shares how TimberScan and AvidPay modernize accounts payable Adam Ditchfield graduated from CUNY Queen’s College in New York with his bachelor’s degree in accounting and economics. Not only is Douglaston Development saving time, but they’re also saving money.

AP 52

AP Accounts Payable Accounts Payable Invoicing 52

Nanonets

JUNE 27, 2023

Managing accounts payable processes efficiently is crucial for any organization, impacting cash flow, vendor relationships, and overall financial performance. One significant aspect of accounts payable is the processing of invoices. How much does it cost to process an invoice?

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Invoicing Invoice Processing Data Entry Accounts Payable 52

Gaviti

MARCH 10, 2024

The accounting and finance industry, including accounts receivable teams, have been facing an upheaval in recent years, with the lack of accountants and financial professionals causing firms to compete for talented staff. First, many have simply retired.

Accounting 52

Accounting Accounting Accounts Receivable Accounts Receivable 52

AvidXchange

FEBRUARY 16, 2022

Now on to the data: Spending on transportation and industrial warehousing by middle-market companies in Q3 2021 rose to 8.1 percentage point rise from Q2 2021. Source: Middle Market Spending Trends Report, Q3 2021 Spending on the industry is still well below its peak (25.9 percent in Q3 2021. That was a measurable 4.5

AP 52

AP Invoicing Accounts Payable Accounts Payable 52

AvidXchange

MARCH 21, 2022

This technology, including that which automates accounting, reporting, and financial planning and analysis (FP&A) processes, streamlines workflow and gives employees the ability to focus on strategic tasks and helps boost productivity. Yes, finance and accounting are important and it’s good to have numbers.

Accounts Payable 52

Accounts Payable Accounts Payable AP Collections 52