AvidXchange

AUGUST 27, 2024

Why Automate Accounts Payable? A Guide to the Prospective Advantages According to our recent Controllers Council National Survey (March 5-19, 2024, 378 respondents participating across North America), 95% of finance departments are at least partially automated.

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CapActix

JUNE 21, 2024

Managing accounts payable is a critical aspect of maintaining a healthy cash flow and ensuring operational efficiency in any business, whether it is a small scale or a large enterprise. This is where the decision to outsource accounts payable services can make a significant difference. million in 2023.

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Accounts Payable Accounts Payable Accounting Accounting 52

NextProcess

DECEMBER 20, 2024

Increasingly, accounts payable (AP) is seen as a department capable of driving strategic growth and cost savings. As accounts payable grows, Business Process Automation (BPA) software provides a foundation for crafting a sustainable AP process that supports company-wide goals. AP Can Be Strategic, but Is It?

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Invoicera

JANUARY 19, 2025

Statistics say that in 2023 alone, the global accounts receivable automation market was valued at $3.81 from 2024 to 2030. Managing your business Accounts receivable and payable is tough! In addition, manual data entry and human errors often create costly mistakes.

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AvidXchange

NOVEMBER 2, 2023

Accounts payable workflow automation can help. Read on to learn the benefits and steps needed to make accounts payable (AP) workflow automation a reality. Learn More About Accounts Payable Automation What is an Accounts Payable Workflow? What is a Manual Workflow in Accounts Payable?

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Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

DECEMBER 21, 2023

In this post, we’ll discuss how organizations are using AI tools for finance today and into 2024. AvidXchange surveyed 500 finance executives in September 2023 to learn more about their priorities for 2024. Sixteen percent of respondents said their organizations have plans to implement AI in 2024.

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Invoicera

DECEMBER 31, 2023

In this blog post, we discuss the top 12 accounting automation tools for 2024 that promise to transform how you handle your accounting processes. Why Need Accounting Automation? The need for accounting automation has become more than just a convenience — it’s a necessity. Let’s get started!

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MineralTree

MARCH 14, 2024

However, many companies still rely on manual processes to manage accounts payable—and these outdated practices are causing problems across their financial operations. An overview of high-volume accounts payable High-volume AP involves managing a large number of invoices and payments. Did you know?

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Accounts Payable Accounts Payable AP Accounting 52

Nanonets

JANUARY 1, 2024

What is an Accounts Payable Audit?    An Account Payable Audit is a process by which the financial records of the accounts payable department are examined by an auditor. It is to be noted that a statutorily ordained Account Payable Audit has to be undertaken only by external auditors.

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Nanonets

MAY 16, 2024

The manual data entry which is often cumbersome and error-prone is now handled instantly and with accuracy. Remove Manual Error-Prone Data Entry and Matching Manual data entry and matching are common sources of errors and inefficiencies in the procure-to-pay process.

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Purchase Order Data Entry Invoicing Budgeting 52

Nanonets

JUNE 19, 2024

The manual data entry which is often cumbersome and error-prone is now handled instantly and with accuracy. Remove Manual Error-Prone Data Entry and Matching Manual data entry and matching are common sources of errors and inefficiencies in the procure-to-pay process.

Purchase Order 52

Purchase Order Data Entry Invoicing Budgeting 52

AvidXchange

JUNE 10, 2024

The Paris 2024 Olympics will be the first since 2018 without major impacts from the pandemic, suggesting audiences may see major changes compared to previous Games. By automating invoice processing and payments, agencies can reduce labor-intensive tasks such as manual data entry, check printing, PO matching , and assigning spend to accounts.

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Nanonets

FEBRUARY 26, 2024

This enhances efficiency and reduces the margin for error, allowing finance professionals to focus on strategic decision-making rather than mundane data entry tasks. In this blog, we explore the top 5 accounting OCR software dominating the financial landscape in 2024. Reduce turn around times and eliminate manual effort.

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Nanonets

APRIL 10, 2024

The included Sage 100 accounts receivable and accounts payable processing provides basic functionality, including recording and manually paying invoices and producing aging reports.    Include add-on AP automation software in your software budget for integrated payables through Sage 100 integration.

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Invoicera

JANUARY 2, 2024

In 2024, the way accountants handle transactions will change a lot. And how will they affect what accountants do every day? Experts say 2024 will see big changes in how payments work. Join us as we explore the top three payment trends that will shape the landscape for accountants in 2024 and beyond.

Accounting 52

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Nanonets

MAY 27, 2024

Automation Opportunities  Automating manual tasks and data-heavy processing can save a lot of time and money for businesses, but without the right tools in place, it can be hard to achieve. Key Salesforce integrations can help with functional automation such as accounts payable automation, marketing automation, and outreach automation.

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Microsoft Excel QuickBooks Data Entry Invoicing 52

Nanonets

JUNE 4, 2024

In this article, we have rounded up the leading OCR applications for a select list of popular use cases (handwriting recognition, accounts payables etc.) Over the years, OCR has been increasingly adopted in many document-processing workflows that previously depended on manual data entry. We've got you covered.

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Data Entry Invoicing Computation Accounts Payable 52

Nanonets

FEBRUARY 7, 2024

Small and medium-sized company users of Microsoft Business Central ERPs need to apply artificial intelligence for efficiencies, vendor invoice processing workflow automation, and decision-making related to accounts payable and business spending.  Let’s explore.    What is Microsoft Business Central?

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Billah and Associates

NOVEMBER 23, 2023

Learn more the role of AI in accounting and finance, its benefits, popular AI tools for accounting and bookkeeping you can try in 2024. What is AI in Accounting? AI in accounting refers utilizing machine learning, deep learning, and natural language processing to mimic human intelligence and conduct accounting tasks.

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Bank Reconciliation Data Entry Financial Analysis Accounting 52

Spenmo

APRIL 26, 2024

As we close Q1-2024, we are thrilled to share a suite of enhancements that help finance managers improve their Accounts Payable processes. Automated Data Entry : Employees can now scan their receipts using Spenmo's dashboard or mobile app. Control expenses based on policies to achieve smoother reconciliation.

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Data Entry Billing Financial Records Financial Analysis 52

AvidXchange

AUGUST 29, 2024

The Institute of Finance & Management (IOFM)’s Finance & Accounting Appreciation Week 2024 is September 23-27, 2024. This year, make sure to give special recognition to your accounts payable (AP) team. By automating these duties, teams can process invoices faster, reducing AP cycle times.

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Nanonets

OCTOBER 18, 2024

Imagine turning your often-overlooked Accounts Payable department into a strategic powerhouse. In the new era of Accounts Payable— every invoice processed should be a step towards long-term success. 5 Beanworks SMB + Midmarket Streamlined invoice approvals with accounting integration 4.5/5

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AvidXchange

JANUARY 18, 2024

Jennifer Garten is a project coordinator and accounting assistant for Jackson Land Development’s accounts payable (AP) team. Without a consistent system for receipt and data entry, invoices (sometimes as large as $100,000) were frequently misplaced or duplicated. I highly recommend it.”

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Invoicera

SEPTEMBER 13, 2024

This is specifically designed to address automating accounts payable and simplify the management of global suppliers. Key Features Automated Invoice Processing: One of Tipalti’s features is that it uses artificial intelligence to read through invoices and enter relevant data automatically.

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AP Billing Invoicing Accounts Payable 52

AvidXchange

SEPTEMBER 20, 2024

In August 2024, AvidXchange surveyed 500 finance leaders to learn more about their priorities and challenges heading into 2025. The finance function is undergoing a profound transformation, driven by emerging priorities and challenges within the industry. Many organizations are turning to AI and automation to manage staffing gaps.

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Nanonets

OCTOBER 8, 2024

Reduced Manual Effort  - The direct consequence of the above is the reduction of costs in manual efforts to sync data and the reduction of monetary risk due to inaccurate data. After processing, the data can be synced to NetSuite for consistency and accuracy.

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Nanonets

OCTOBER 18, 2024

Imagine turning your often-overlooked accounts payable (AP) department into a strategic powerhouse. The future of accounts payable lies in AP automation , which can turn this traditional back-office function into a key driver of growth. One significant challenge in AP is managing data accuracy and manual errors.

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Nanonets

JUNE 14, 2024

Challenges of Balance Sheet Financial Close The reconciliation process during the financial close can be challenging for finance teams due to disconnected data sources, a lack of automation, and the sheer volume of transactions. These could be balance sheet accounts like cash, accounts payable, accounts receivables, credit cards, etc.

General Ledger 52

General Ledger Reconciling Deposits Financial Statements 52

Nanonets

JULY 14, 2024

IInvoice management software is transforming financial processes for businesses in 2024. Many businesses face challenges with invoice processing —from data entry errors to delayed payments. That's why we've created this guide to the top 10 invoice management solutions of 2024. Let's get started.

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Invoicera

MARCH 22, 2024

Thus, we have listed the top 15 leading automated billing software that are reshaping companies in 2024. It helps in reducing human errors: Manual data entry is prone to errors, which can lead to delays, complications, and even lost revenue. You can easily identify your accounts payable and receivable through the reports.

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Nanonets

MARCH 4, 2024

Traditional expense management systems are often fraught with challenges: manual data entry is time-consuming and prone to errors; fraudulent claims can slip through the cracks; and ensuring compliance with company policies and tax laws can feel like navigating a minefield. Manual Data Entry:  Employees manually log expenses.

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AvidXchange

MAY 16, 2024

Unlike traditional paper-based invoicing systems, e-invoicing automates the invoicing process, eliminating the need for physical paperwork and manual data entry. Stay informed on the go with AvidXchange's "Net 30" podcast, featuring the latest accounts payable industry news, trends, and expert interviews.

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Invoicing AP Invoice Processing Accounts Payable 52

Nanonets

MARCH 28, 2024

Ramp is a fast-growing spend management platform that provides modern corporate card and accounts payable solutions. Ramp automates receipt matching, integrates with other accounting software, and simplifies the spend management process. Accounting integration: Seamless syncing with QuickBooks, Xero, NetSuite, and more.

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NextProcess

OCTOBER 8, 2024

From procurement to accounts payable , automation streamlines core business processes and takes over routine tasks to free up employees to focus on more value-added contributions. 2) Facing Economic and Political Uncertainty Overall, surveyed CFOs are optimistic going into the end of 2024 and looking forward to 2025.

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AvidXchange

SEPTEMBER 17, 2024

AvidXchange’s 2025 Trends Survey underscored this, with 66% of respondents noting that staffing shortages affected their finance department in 2024. This allows existing staff to improve productivity, doing more with less.

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Customer Service Data Entry Invoice Processing Financial Reporting 59

Nanonets

JUNE 12, 2024

Optical Character Recognition & Intelligent Document Processing By automating data entry and extraction, OCR reduces human error and speeds up information processing. Accounts Payable (AP) Automation and Invoice Matching AP automation simplifies the entire accounts payable process, from receiving invoices to making payments.

Purchase Order 52

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Nanonets

MAY 30, 2024

Common bottlenecks seen frequently are - Manual data entry errors. Invoice Processing : Manual data entry and matching of invoices to POs & goods receipts resulted in frequent errors and delays. Reduce Invoice Processing Time: Reduce time spent in invoice data entry and matching by 70%.

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