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

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.

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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.

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Accounts Payable Accounts Payable AP Accounting 40

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

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. per invoice for the highest process maturity level.

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Accounts Payable Accounts Payable AP Purchase Order 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. Accounts Payable Software Includes Positive Pay Occasionally, fantastic financial services fly under the radar. But there may be key details you haven’t seen.

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Accounts Payable Accounts Payable AP Accounting 52

Xero

MAY 30, 2022

Here are five apps that have joined the new Xero App Store since launch in August 2021, and are helping small businesses seize the post-pandemic opportunity. . Datamolino streamlines and automates the accounts payable process. With Datamolino, users can automate more than 70% of their total accounts payable volume.

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XERO Bookkeeping Accounts Payable Accounts Payable 267

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

The strain impacts nearly every role across agencies, from creative to those who handle accounts payables (AP) and payments. DOWNLOAD NOW READ MORE: The Future of AP in 2022 - 7 Important Trends to Be Ready For The post Media Industry Trends: 5 Widespread Shifts Shaping Accounts Payable appeared first on AvidXchange.

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Accounts Payable Accounts Payable AP Accounting 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 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. According to S&P Global Intelligence , there’s no slowdown in sight.

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Financial Services Accounts Payable Accounts Payable AP 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?

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Accounts Payable Accounts Payable AP Data Entry 52

AvidXchange

FEBRUARY 7, 2022

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. Tweet Equally alarming, construction is the No. Download the report and get a jump on the new year.

Accounts Payable 52

Accounts Payable Accounts Payable AP Invoicing 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?

Accounts Payable 40

Accounts Payable Accounts Payable AP 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.

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Accounts Payable Accounts Payable Accounting 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 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. As teams digitize accounts payables, they can better analyze spend and more accurately budget and forecast for the future.

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Accounts Payable Accounts Payable AP Accounting 52

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

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. We needed a change to provide flexibility for the team.”

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Invoice Processing Invoicing Data Entry AP 52

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.”

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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. This includes person-to-person payments via apps like Venmo and mobile payments using platforms like Apple Pay.

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AP Accounts Payable Accounts Payable Financial Operations 52

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?

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AP Accounts Payable Accounts Payable Purchase Order 52

MineralTree

FEBRUARY 16, 2023

The State of ACH Fraud Today 71% of organizations were victims of payment fraud attacks or attempts in 2021. In 2021, 68% of organizations were targeted with a BEC scam. The Accounts Payable (AP) team is the most susceptible department in terms of this attack, with 58% of those surveyed noting their AP teams were compromised.

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AP Accounts Payable Accounts Payable Data Entry 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.

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AP Computation Accounts Payable Accounts Payable 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. We not only do the accounts payable through AvidAscend, we do our pre-paids and our deferrals as well.

AP 52

AP Accounts Payable Accounts Payable Expense Reports 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

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. TimberScan streamlines the accounts payable process, enables access to real time data and reduces redundant work.

AP 52

AP Accounts Payable Accounts Payable Invoicing 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.

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AP Invoicing Accounts Payable Accounts Payable 72

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

JANUARY 29, 2021

Read more: Expert Insights for Peak Performance in 2021 The big takeaway? More than one third (37 percent) receive the bulk of their invoices and payments by snail mail instead of trusting accounts payable software or e-payment solutions. There’s been a lot of late paying going on during the pandemic. Why does this matter?

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Computation AP Invoicing Invoice Processing 40

Nanonets

NOVEMBER 16, 2023

This is where Accounts Payable (AP) Automation emerges as a critical tool, not merely for managing payments but as a strategically in scaling your business. AP Automation involves leveraging technology to streamline, optimize, and automate the processes associated with managing a company’s accounts payables.

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AP Accounts Payable Accounts Payable Invoicing 52

AvidXchange

MARCH 21, 2022

A separate Deloitte survey in 2021 asked controllers how they split their time between functions and how they would prefer to split their time. With that in mind, 60.7% of CFOs included in the Deloitte survey named talent/labor as one of their top three priorities for 2022.

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Accounts Payable Accounts Payable AP Collections 52

AvidXchange

OCTOBER 16, 2023

In 2023, I’m getting paid for services rendered in 2020 and 2021. With this early payment option, if a supplier chooses to accelerate an eligible invoice, AvidXchange deposits the funds directly into their account in as little as 24 hours for a small fee. That’s a long time to think about those jobs and have them on the books.”

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Invoicing AR Deposits Accounts Receivable 52

AvidXchange

JANUARY 10, 2024

In 2021, they automated payments with AvidPay so the team could pay MCG’s bills electronically instead of having to rely on paper checks. Automating the tedious, error-prone manual tasks the team once relied upon for their accounts payable (AP) work eliminates the paper chase so staff is no longer chasing down invoices or approvals.

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AP Invoice Processing Invoicing Accounts Payable 52

NextProcess

DECEMBER 30, 2022

According to the 2021 State of Manufacturing Report , “94% [of respondents] report concerns about their current supply chains” and for “68%, improving supply chain resilience and agility is the number one business priority.” Improved visibility and accountability make identifying and correcting issues in the supply chain simple.

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Purchase Order Record Keeping Accounts Payable Accounts Payable 52

AvidXchange

APRIL 18, 2023

Donors Want Digital Donations McKinsey reports that 82% of Americans conducted a digital payment in 2022 – up from 78% in 2021. Additionally, accounts payable (AP) automation software can help nonprofit financial departments map each donation’s journey through the business, easily generating reports for donors and board members.

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AP Financial Operations Financial Operations Accounts Payable 52

AvidXchange

NOVEMBER 3, 2021

Here at AvidXchange, we want to help your accounts payable (AP) team avoid making duplicate payments — a significant industry problem. With this goal in mind, we’re sharing insights that one of our principal solutions consultants, Rhonda Greene, offered during our recent REVx 2021 event. CHECK IT OUT THAT’S A WRAP!

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AP Invoicing Tax Accounts Payable 52