AvidXchange

FEBRUARY 7, 2022

Firms need 24/7 access and visibility into what invoices are in—what’s been billed—and when it will be paid. An analysis of 1,200 companies globally that were hit by cyber extortion between 2020 and 2021 revealed those parts of the market where ransomware is the most widespread. Tweet Equally alarming, construction is the No.

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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

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.

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AP Accounts Payable Accounts Payable Invoicing 52

MineralTree

NOVEMBER 16, 2023

Essentially, it can help businesses determine if bills can be paid, operating expenses will be covered, and if there is a buffer for unexpected costs. Accounts payable technology provides a centralized view of pending invoices and bills. How Can AP Automation Help With Cash Flow Analysis and Management?

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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

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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Nanonets

JULY 4, 2023

Hyperautomation was rated the number one technology trend for 2021 by Gartner, the IT research and advisory firm. Where is Hyperautomation used Healthcare Healthcare spans many interdependent and interrelated areas such as patient data management, healthcare staff management, infrastructure maintenance, quality control, billing, etc.  These

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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. Is it Right for Your Business?

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AP Invoicing Accounts Payable Accounts Payable 52

AvidXchange

SEPTEMBER 29, 2020

The growing importance of machine learning in AP automation With all this attention being paid to the value of data, accounts payable system leaders will benefit from learning more about an increasingly popular type of data-centric artificial intelligence (AI) technology called machine learning.

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AvidXchange

JANUARY 10, 2024

The need accelerated when the pandemic hit and MCG’s accounting team was forced to work from home, separated from the files and printers it relied upon to pay the bills. In 2021, they automated payments with AvidPay so the team could pay MCG’s bills electronically instead of having to rely on paper checks.

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AvidXchange

JANUARY 21, 2021

So, it’s understandable to be concerned about losing control and taking on more risk by using accounts payable (AP) software and trusting automation. Read more: 5 Accounts Payable Software Insights You May Not Know Using automation, you’ll be able to trace steps in the payment and invoice process.

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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

SEPTEMBER 21, 2021

We want to help answer this question and share ideas for how you and your company can utilize accounts payable (AP) automation to come out stronger in the days and months ahead by thinking about these changes and opportunities in new ways. Given these trends, what does this mean for how your business processes invoices and pay bills?

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Nanonets

SEPTEMBER 21, 2023

It serves as a bill for the goods or services provided. An invoice is a bill sent by the seller to request payment once the order is fulfilled. This not only ensures that the seller receives payment promptly but also helps the buyer manage their accounts payable efficiently.

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AvidXchange

JULY 13, 2023

The macro-trends impacting the economy and labor force are compelling the few remaining centralized back-office functions like accounts payable (AP) to become decentralized as well. By implementing the right digital tools, property management businesses can successfully address some of these obstacles.

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AP Accounts Payable Accounts Payable Billing 52

Nanonets

MARCH 21, 2023

ACH (Automated Clearing House) payments are basically EFTs ( electronic fund transfers ) that use the ACH network to move funds between bank accounts in the United States. ACH is most commonly used for direct deposit of payroll, payment of bills, and business-to-business payments. What are the types of ACH transfers?

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MineralTree

NOVEMBER 10, 2022

Duplicate payments are a huge headache for accounts payable departments and their vendors. A duplicate payment occurs when a company makes the same payment twice for the same invoice or bill. In fact, 58% of accounts payable teams were targeted via email scams in 2021. What are Duplicate Payments?

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CapActix

OCTOBER 10, 2023

Wave Wave empowers CPAs and accounting firms to effortlessly search through transactions, create tailored accounting reports, and harmonize data across diverse Wave offerings.

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Nanonets

JUNE 27, 2023

billion in 2021, propelled by technological advancements, including the introduction of AI-based applications, machine learning, big data, and the Internet of Things (IoT). Different stakeholders use automation for various purposes, such as manufacturing and assembling parts, automating customer records, or streamlining billing processes.

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Nanonets

MAY 30, 2023

 The World Bank reports that two-thirds of adults worldwide make or receive a digital payment today, with the share in developing economies growing from 35% in 2014 to 57% in 2021. Schedule a Demo Automation of e-Payment The Accounts Payable Network reports that replacing paper checks by ePayments would save the $5.14

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AvidXchange

JUNE 23, 2022

Intrigued with the idea of a paperless office, Sorrells began researching automated accounts payable (AP) solutions. In 2021, Sorrells implemented AvidPay, AvidXchange’s full-service payment automation solution that offers electronic payments. She now no longer has to do that. “We

AP 52

AP Invoicing Invoice Processing Data Entry 52

AvidXchange

JULY 21, 2018

Now, consumers and businesses make purchases directly from their bank accounts with bill payment software , trusting digitization to send electronic payments safely and quickly. Unlike cash or paper checks, electronic payments are routed digitally from one bank account to another through payment systems.

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AvidXchange

JANUARY 10, 2018

They stood in long lines to pay bills and transfer funds from their bank account. By 2021, 46% of global buyers will transition from credit cards and cash to eWallet in the eCommerce world. With accounts payable automation, businesses retrieve the data needed to make informed purchasing decisions from vendors.

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Nanonets

MAY 31, 2023

Set up touchless AP workflows and streamline the Accounts Payable process in seconds. The sum total of each invoice calculated, again manually or if the data entry software is specifically designed for accounting purposes, using said software. A final bill/ receipt is made with the final figures and the payments are processed.

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Nanonets

SEPTEMBER 21, 2023

Sample Invoice Invoice Number Date Due Date INV-20210001 January 1, 2021 January 31, 2021 Item Description Quantity Unit Price Amount Product A Description of Product A 2 $50.00 $100.00 This is the deadline by which the customer must settle their bill. Product B Description of Product B 1 $75.00 $75.00 Total Amount Due: $175.00

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AvidXchange

MARCH 9, 2023

I’m your host and producer, TRAVIS DURKEE, senior Content Strategy Manager at AvidXchange, a leading provider of accounts payable automation, software and payment solutions for middle market businesses and their suppliers. They’re doing annual meetings and they’re trying to get the billing out for next year.

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Nanonets

AUGUST 6, 2024

Project 'Solar Innovations' was led by Sarah Johnson from the Sustainability Team and concluded in December 2021 with the development of a solar-powered charging station prototype. Based on the classification done by Nanonets AI, the system selects the most appropriate team – tech support, billing, customer success, etc.

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AvidXchange

JANUARY 16, 2023

That’s up from 27% of respondents in 2021. You know, you know the work that you’re doing every day and the opportunities you see for technology, obviously around the accounts payable payment area is one that you’ve leaned into. MICHAEL PRAEGER Absolutely. So let’s go in.

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Cloud Accounting Podcast

JUNE 1, 2020

By using Bill.com, accounting firms can free up more time for valuable strategic advisory services by helping clients shift their accounts payable process online. Stay tuned to hear more from our sponsor, Bill.com, later in the episode. __ This episode of The Cloud Accounting Podcast is sponsored by Justworks.

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Cloud Accounting Podcast

SEPTEMBER 15, 2020

One of the quotes was from Steven Horowitz, the CFO at CareCentrix, and he said, "The only time finance staff had to go to the office, was to scan physical mail and bills into their smartphones to process accounts payable." Then the amounts would, if not forgiven by Congress, then be collected in the first four months of 2021.

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