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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.
DOWNLOAD WHITEPAPER DOWNLOAD: How to Attract, Retain & Grow Top AP Talent Amid Economic Uncertainty The post Financial Services Industry Faces a Hiring Crisis Amid Economic Uncertainty appeared first on AvidXchange. News & World Report.
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Automating accounts payable (AP) differs from many other enterprise business processes. For that reason, relevant communities and resources for accounts payable extend beyond finance. For that reason, relevant communities and resources for accounts payable extend beyond finance.
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For more information on how end-to-end AP automation can help with staffing challenges and a deeper look into our AP professional career satisfaction survey results, download our whitepaper “How to Attract, Retain and Grow Top AP Talent Amid Economic Uncertainty.”
After accounting for inflation, construction spending has likely fallen over the past 12 months. In a press release from the Associated Builders and Contractors (ABC), ABC Chief Economist Anirban Basu said: “The workforce shortage is the most acute challenge facing the construction industry despite sluggish spending growth.
Jennifer Elder, CEO, The Sustainable CFO About our guest: Jennifer Elder is a business generalist and an accounting expert who can make the complicated awesomely simple.
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For more information about how automation can fortify your organization, download our whitepaper, “How Middle Market Finance Teams are Preparing for a Recession.”
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Thirty-six percent of survey respondents are focusing investments on automation, including accounts payable (AP) solutions that replace manual back-office processes like invoice processing and bill pay that are critical to operations. Where are companies putting their technology investment dollars?
Investing in automation technology, such as accounts payable (AP) software, helps AP staff reduce manual tasks like invoice processing and bill pay. For more information about how automation can fortify your business, download our whitepaper: “How Middle Market Finance Teams are Preparing for a Recession.”
2) Lower Operating Costs A 2012 survey by the International Data Corporation (IDC) indicated that troubles with paper-based documentation drive up companies’ operating costs significantly. This IDC whitepaper said, “This wasted time costs the organization $19,732 per information worker per year and amounts to a loss of 21.3%
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By automating the financial process, you’ll ensure accurate and timely invoicing, account receivables, revenue recognition, collections, and financial reporting. Want to dig a bit deeper, check out our Executive Overview: Usage-Based Billing whitepaper.
In other words, you need to account for the interest you’d have earned if you held onto that capital or the interest and fees you paid to take out a loan. Consolidated billing: Are you consolidating cloud accounts to take full advantage of discount plans and usage thresholds? Your CCoE should help all departments remain accountable.
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Lastly, we talked about accounting standards for cryptocurrencies. The end result kind of mirrors the policy paper put out by Coinbase back on October. And, and in both of those whitepapers, both of which were between 15, and 30 pages long. With the constant evolution and advancements around crypto.
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