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. As a finance professional, control over payments is always top of mind.

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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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AP Data Entry Purchase Order Invoicing 52

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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AP Accounts Payable Accounts Payable Invoicing 52

Invoicera

APRIL 28, 2024

So, this blog post will be discussing the common mistakes you are making while managing your AP and the tips to improve them. This would help to turn images into computer-readable text. Perform all the data entries and functions (online & offline) automatically with Invoicera to improve your AP process.

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Accounts Payable Accounts Payable AP Invoicing 52

AP Association

MARCH 15, 2022

A well-optimised AP department will ensure a business pays its invoices as soon as possible after receiving them and confirming that they are genuine and accurate. When AP is operating at maximum efficiency, businesses refuse their costs, improve their relationships with suppliers, and can manage their cash flow more effectively.

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Accounts Payable Accounts Payable Accounting Accounting 100

AP Association

JULY 5, 2022

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. That way, if there's ever any confusion about which invoice was sent to which customer, it'll be easy to find out from your computer system.

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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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AP Accounts Payable Accounts Payable AR 83

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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AP Invoicing Accounting Software Accounts Payable 40

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

JANUARY 13, 2022

During the next several years, all four technologies will be widely used in automated AP processes and payments as each makes it easier to process your invoices and payments quickly and accurately. Application programming interfaces (APIs): Enabling software conversation The importance of APIs in AP automation is hard to overstate.

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Accounts Payable Accounts Payable AP Accounting 52

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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Computation AP Accounts Payable Accounts Payable 52

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 ? Read more: AvidXchange acquires Core Associates, becomes a leader in AP automation for the construction industry 2.

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Accounts Payable Accounts Payable AP Accounting 52

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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AP Accounts Payable Accounts Payable Invoicing 40

AvidXchange

SEPTEMBER 29, 2021

We’re going to unpack these three myths here and address the reluctance AP managers and controllers have about letting go of these mistaken beliefs. We hope to offer new perspectives and ultimately help you make better decisions, be more efficient and grow faster using AP software and services. Big Myth No. Big Myth No.

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Accounts Payable Accounts Payable AP Accounting 52

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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AP Invoice Processing Purchase Order Data Entry 52

AvidXchange

OCTOBER 11, 2017

With the advent of computers and electronic filing, the filing cabinet has become a cobwebbed crypt for lost invoices and forgotten files. Just how much the paper consumes varies by company, depending on how many invoices and payments the business processes and how many AP professionals it employs.

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AvidXchange

JUNE 12, 2024

You may be wondering what types of accounts payable metrics your team can watch to help ensure your AP processes are efficient and consistently improving. This article will share 1 5 AP metrics that will help contribute to the overall success of your team, fostering a performance-oriented culture. 1. Divide that by two.

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NextProcess

MAY 24, 2024

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. For example, some solutions involve purchasing software that you install directly onto company computers. Don’t be part of that statistic.

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Accounts Payable Accounts Payable AP Purchase Order 52

NextProcess

MAY 24, 2024

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. For example, some solutions involve purchasing software that you install directly onto company computers. Don’t be part of that statistic.

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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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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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AvidXchange

MAY 5, 2020

Does each team member have a computer at home? Some may work from desktops and not have access to a laptop or computer at home. In particular, AP automation helps sustain a business by removing manual processes and providing multiple ways to process and pay without relying on people and resources that may not be available. “AP

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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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Computation AP Accounts Payable Accounts Payable 40

AvidXchange

FEBRUARY 15, 2021

When your company buys a product such as a new computer for your accounts payable (AP) department, you usually receive an invoice from that computer manufacturer requesting payment. They can more quickly and easy hit “approve” on their computers and move on. Do you want to learn more about invoice processing software?

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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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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. Listen Now No Time to Read?

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Invoicing AP Invoice Processing Accounts Payable 52

AvidXchange

APRIL 24, 2018

Businesses are still hiring dedicated AP specialists to open mailed invoices and manually enter invoice details into the accounting system. It’s time for AP departments to face it – old manual invoice processing wastes valuable time and money. Manually handling this process can be a daily burden for any AP specialist.

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Nanonets

APRIL 10, 2024

  Sage 100 Fixed Assets lets your business track assets like office equipment and computers, get book and tax depreciation calculations, and use Sage 100’s Microsoft Excel-like reporting interface.    Include add-on AP automation software in your software budget for integrated payables through Sage 100 integration.

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AvidXchange

JANUARY 10, 2024

They also manage technical equipment— from computers and servers to software and services— to ensure it operates securely and efficiently. Automating the tedious, error-prone manual tasks the team once relied upon for their accounts payable (AP) work eliminates the paper chase so staff is no longer chasing down invoices or approvals.

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AP Invoicing Invoice Processing Accounts Payable 52

AvidXchange

NOVEMBER 8, 2023

As an AP professional, the last thing you want to do is pay a fraudulent or inaccurate invoice. AP 3-way matching is the process of taking an invoice for the purchase of goods or services and matching it with the corresponding purchase order (PO) and receiving information (order receipt).

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NextProcess

JULY 20, 2024

Many see 2024 as a year for integrating payments, accounts payable (AP), and procurement to create a seamless procure-to-pay cycle. To get all the potential benefits that come with digitizing AP and purchasing, you need top-quality BPA software. Not every AP automation solution includes a feature for managing payments.

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Accounts Payable Accounts Payable AP Purchase Order 52

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

JANUARY 29, 2021

Cloud computing can remedy late payments Our survey told us business leaders have a strong interest in investing in more digital technologies in 2021. While many digital technologies will be used, one rose stood out as the most important cited by 35 percent: cloud computing. But it’s just not catching on in the AP software market.

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Computation AP Invoicing Invoice Processing 40

AvidXchange

MAY 10, 2016

Computer hardware was coming down, so prices were coming down. What was the AP process like back then? The most important part of AP is a proper approval and coding process – making sure those costs show up where they’re supposed – so your comparisons to budget/estimate are in line. How has automation changed it?

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AvidXchange

JULY 26, 2017

Mobile Computing In the U.S., users spend more time online using a mobile device compared to a computer. Accounts Payable (AP) and Payment Automation AP Automation eliminates repetitive or time-consuming manual tasks in the AP process. This means mobile optimization cannot be ignored.

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AvidXchange

JANUARY 10, 2022

For its part, AvidXchange uses several techniques to secure its AP automation software used by healthcare providers. However, it’s much more difficult for these criminals to steal money from AP automation software systems than more theft-friendly paper checks and paper invoices.

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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? Those include the ability to manage, analyze and derive insights from information using cloud computing, machine learning and big data.

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