NextProcess

MAY 24, 2024

5 Tips for Managing High-Volume Accounts Payable with BPA Software How many invoices does your company receive each month? If you’re processing hundreds or even thousands of invoices each month, then your company is managing high-volume accounts payable. Don’t be part of that statistic. You might receive a paper invoice.

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Insightful Accountant

NOVEMBER 12, 2024

MakersHub’s innovative AP system revolutionizes how firms manage and streamline accounts payable with its advanced computer vision technology.

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AvidXchange

FEBRUARY 4, 2021

Here’s one to consider: whether now is the right time for your company to start automating accounts payable (AP) processes. How will AP software be integrated with your accounting system ? We also shared a five-step plan to get started on the road to automating accounting processes.

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NextProcess

MAY 24, 2024

If you’re processing hundreds or even thousands of invoices each month, then your company is managing high-volume accounts payable. When you manage high-volume AP or need to be able to scale your business processes to handle a sudden increase in the number of invoices, business process automation (BPA) software can help.

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AvidXchange

JANUARY 13, 2022

A lot happens behind the scenes to power accounts payable automation. Explore each of the technologies below: 4 Technologies Powering the Future of AP Automation​ 4 Technologies Powering the Future of AP Automation 1. APIs are software interfaces that unlock data within software-based computer applications.

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AvidXchange

SEPTEMBER 29, 2021

You may not expect mythology to have any relevance in the numbers-driven, here-and-now world of accounts payable software and services. 2: AP automation is too hard to implement and takes too long Many AP managers and controllers are concerned about learning how to use new financial software. Big Myth No.

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Invoicera

APRIL 6, 2024

And we know you are having difficulty managing your accounts payable errors, but it is crucial to maintain a healthy financial system. Implementing these tips can significantly minimize errors and foster a smoother and more accurate accounts payable workflow. What are Accounts Payable?

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AvidXchange

NOVEMBER 8, 2023

As an AP professional, the last thing you want to do is pay a fraudulent or inaccurate invoice. Learn More About 3-Way Matching Automation Table of Contents What is 3-Way Matching in Accounts Payable? Automate Your 3-Way Match Process An Example of a 3-Way Match The AP department at Computer Co.

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Nanonets

MARCH 29, 2023

What is Accounts Payable? Accounts payable (AP) refers to the amount of money a company owes to its vendors, suppliers, and creditors for goods and services received but not yet paid for. Once the invoice has been verified, the company records the amount owed in its accounts payable ledger.

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AP Association

JULY 5, 2022

When it comes to working in accounts payable, knowing the mistakes that can save you and your company money, time and productivity are essential. Whether you're new to the world of financing or just want to become a better AP professional, having knowledge of the most common filing errors will not only save you time but also money.

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AvidXchange

SEPTEMBER 6, 2017

In preparation for the event, we sat down with panelist Bill Gilbert, Vice President and Corporate Controller of REDICO, to talk real estate, accounts payable automation , and best practices for year-end close. When I started 17 years ago, we had 30 employees and three computers. We’re what I call a “big-small company.”

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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. This blog highlights five ways automating your AP will help give you more control over your payment processes. Catching mistakes will happen faster. Some never get found.

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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. 3 Ways AP Automation Helps Protect Your Business 1.

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AvidXchange

AUGUST 31, 2023

Digitizing tasks eliminates some of the manual work involved in the AP process, and in doing so frees staff to focus on more strategic work. By empowering employees with tech skills, AP teams can streamline processes, reduce errors and increase efficiency. He and Greene agreed that’s not the case. And it’s a huge win.”

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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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AvidXchange

MAY 11, 2021

You’ve probably heard about accounts payable (AP) automation solutions. Table of Contents What are AP automation solutions? Table of Contents What are AP automation solutions? AP automation solutions use software to speed up processing of invoices and payments reliably from a centralized computer database.

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Nanonets

SEPTEMBER 22, 2023

Accounts payable reports  are an essential tool for businesses of all sizes, providing valuable insights into financial management and helping to optimize business operations. Key Takeaways: Accounts payable reports  help track and report business expenses.

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MineralTree

MARCH 2, 2023

Keep reading to learn about these top challenges facing CFOs in 2023, as well as the steps leaders should take to prepare their organization and AP team for success. AP teams and finance leaders are then dealt the challenge of deciding which vendors to pay, and when. AP automation solutions are one way to simplify this process.

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NextProcess

JULY 20, 2024

Some of the biggest trends in accounts payable this year involve how organizations handle payments. Many see 2024 as a year for integrating payments, accounts payable (AP), and procurement to create a seamless procure-to-pay cycle. Why Update Procure-to-Pay? This is one of the ways that NextProcess stands out.

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AvidXchange

DECEMBER 19, 2023

Computer Vision AI tools that offer computer vision are helping nonprofits of all types deliver on their mission more efficiently, utilizing fewer resources. For example, human rights organizations can use computer vision to search through large volumes of documents and images to identify evidence of abuse or human rights violations.

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AvidXchange

JULY 14, 2023

For more than a century, finance teams, including accounts payable (AP) staff, have used paper-based systems including ledgers, checks and mailed invoices. The advent of cloud computing and software-as-a-service (SaaS) platforms in the 2010s brought additional progress.

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AvidXchange

SEPTEMBER 8, 2020

As a finance professional, you may believe your company needs to invest in AP automation processes. For instance, share the potential savings expected from automating AP and your mathematical assumptions to achieve the savings. Avoid getting too deep in technology integration and AP automation software details.

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AvidXchange

SEPTEMBER 29, 2020

When you think of important corporate assets, you might picture physical things such as office buildings, computers and printers. In the world of AP automation, the technology processes and analyzes data to detect behavioral patterns of supplier payments and invoices and predicts the likelihood of those behaviors continuing.

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Nanonets

JANUARY 5, 2024

That will elevate the status of an often-neglected area of finance – accounts payable (AP). Traditionally focused on paying the bills, the AP function is on the cusp of its own breakthrough. That’s because automation can complete many AP tasks that used to be handled manually.

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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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AvidXchange

MAY 16, 2024

This is generally done in accounts payable (AP) automation systems using optical character recognition (OCR) technology and machine learning algorithms. What are Electronic Payments? No longer are CFOs and controllers dependent on AP staff to chase the info they need. Multitask with our podcast.

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AvidXchange

APRIL 13, 2021

Or the business can use AP software , which gets this done automatically using a lot less paper. Read more: How to Solve the Headache of Manually Matching Invoices to Purchase Orders What is 2-way vs. 3-way matching in accounts payable? Because you may not know be as familiar with how much the computer and related services cost.

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NextProcess

JUNE 21, 2024

You’ll most likely have capital project management teams, procurement and accounts payable working together on operational expenses, and a travel and expense (T&E) department for employee reimbursements. Procurement and AP Software The procurement department handles most operational expenses.

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Nanonets

JULY 4, 2023

The rules are modified and appended as the computer learns from existing data. Cobots: collaborative robots that work with the human in the loop for human-centric activities Chatbots: the use of OCR, AI, ML, and NLP that can help a computer hold a real-time conversation with a human using text or speech.

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Nanonets

APRIL 16, 2023

Even in departments where there is the digitization of information in the form of Enterprise Resource Planning (ERP) applications, a significant amount of human labour is required; from the time an invoice is raised or received to its entry into the ERP application, accounts payable personnel perform a seemingly endless list of chores. ·

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AvidXchange

DECEMBER 21, 2023

NLP tools can extract financial data from documents like balance sheets and enter it into financial systems and spreadsheets. Computer vision is another popular AI tool for finance departments – 48% of those we surveyed said they use it. Computer vision can “see” data in images.

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Nanonets

DECEMBER 11, 2023

Your accounts payable team – whose main function is to ensure funds are disbursed properly to vendors, business partners, and sometimes customers – processes an exorbitant number of invoices every single week. It brings together AP functionality and expense management, saving your teams time and saving your company money.

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NextProcess

NOVEMBER 8, 2024

accounts payable, expense reporting) and data more secure by following cybersecurity best practices and using secure business software. Keep software updated and make sure you have good anti-virus software running on all computers. Lets consider, for example, accounts payable.

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AvidXchange

OCTOBER 20, 2021

The answer is to embrace a strategy focused on digital resiliency that includes investing in accounts payable (AP) automation software to ensure more secure and faster invoice and payment processes.  This new tech wave differs from the more generalized and broad-based digital transformation that’s been going on for several years.

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Nanonets

MAY 1, 2024

Invoicing and managing accounts payable digitally are a fact of life for business owners today, whether a small, local mom-and-pop or an eCommerce juggernaut selling thousands of dollars worth of inventory daily.  You’ll migrate the invoice into QuickBooks by navigating to the Expenses dashboard and selecting Bills.

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MineralTree

FEBRUARY 16, 2023

This disruption created a perfect storm for fraudsters and bad actors to exploit new vulnerabilities, particularly those within AP teams, many of which still exist today. As an example, a fraudster may impersonate a vendor — often through BEC or account takeover — and contact the AP team to update payment information to a fraudulent account.

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AvidXchange

AUGUST 28, 2020

He said they should explore new strategies to generate value from all the data they generate using automation in accounts payable (AP) processing and payments. A main reason he joined Google Cloud was to help communicate the story about the massive importance of cloud computing to peoples’ lives over the next several years.

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