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Accounts Payable Outsourcing vs. AP Automation: Which is Better for Your Business?

MineralTree

The State of Accounts Payable Today Recession and inflation are top challenges for CFOs as they look to keep companies profitable in 2023. This dynamic, coupled with ongoing threats related to recession and inflation, result in numerous challenges for accounts payable teams. What is Accounts Payable Outsourcing?

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A Complete Guide to Digital Transformation in Accounts Payable

Nanonets

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 The worldwide AP automation market is forecasted to grow from US$2.6 billion by 2030 at a CAGR of 12.5%.​​

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Construction Industry Trends: 5 Game-Changing Shifts for Accounts Payable in 2022

AvidXchange

According to IOFM, one of the most significant benefits AP automation can provide is the data it generates: “These metrics can tell a resonating story that’s less biased, more reliable and consistent than manually compiled reports that are dependent upon staff who may collect and assess data differently—and oftentimes sporadically.”

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Real Estate Trends: 7 Accounts Payable Movements to Track in 2022

AvidXchange

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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How AvidAscend Created Efficiencies for a Community Credit Union

AvidXchange

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.

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Real-time Payments and FedNow: What You Need to Know 

AvidXchange

McKinsey reports that 82% of Americans conducted a digital payment in 2022 – up from 78% in 2021. Businesses prefer RTPs because they accelerate cash flow and reduce the administrative burden of collecting and reconciling payments. How Do Real-Time Payments Work?

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What is ACH Fraud and How to Combat It

MineralTree

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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