AvidXchange

FEBRUARY 15, 2021

Do you want to learn more about invoice processing software? 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. What does invoice processing mean?

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Nanonets

OCTOBER 18, 2024

While businesses race to optimize every corner of their operations, AP quietly holds untapped potential. The future of AP automation promises to transform this traditional back-office function into a strategic asset that drives company-wide growth. 5 BILL AP/AR SMB Easy-to-use AP automation for payments and vendor management 4.4/5

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Nanonets

OCTOBER 18, 2024

Imagine turning your often-overlooked accounts payable (AP) department into a strategic powerhouse. While businesses focus on optimizing every corner of their operations, AP often remains overlooked despite its untapped potential. As businesses face increasing financial pressures, the modern AP team must evolve beyond manual tasks.

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AvidXchange

AUGUST 23, 2024

Table of Contents: Understanding Accounts Payable | What is AP Automation? Examples of AP Automation | Advantages of AP Automation Ninety-four percent of accounts payable (AP) professionals would use a tool to automate the most repetitive parts of their job according to our 2023 AP Career Satisfaction Survey.

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Nanonets

JULY 14, 2024

If you're looking to streamline your invoicing, you're making a smart move that could save your company time and money. Many businesses face challenges with invoice processing —from data entry errors to delayed payments. Modern invoice management tools automate much of the process.

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Nanonets

APRIL 1, 2024

If you've ever spent hours chasing down missing invoices, manually entering data , or chasing colleagues for approvals, you know the pain of inefficient accounts payable (AP) processes. Luckily, AP automation solutions like Nanonets and Tipalti can help. However, when you dig deeper, some key differences emerge.

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AvidXchange

OCTOBER 12, 2021

Automating your accounts payable (AP) processes can have a big impact on your bottom line. There are several ways to measure the cost savings of AP automation. While the costs can vary, Goldman Sachs estimates total costs (processing and labor costs) for AP staff involved in manually processing a single invoice equaled $16.00

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AvidXchange

JULY 21, 2021

As a controller or accounts payable (AP) manager, you can use more than a dozen key accounts payable performance indicators (KPIs) to track the performance of your AP systems. Accounts payable metrics are key performance indicators that track and evaluate the efficiency and effectiveness of your accounts payable process.

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Nanonets

APRIL 17, 2023

AP automation or accounts payable automation solutions are an attempt to optimise this process for finance teams. By getting rid of slow manual processes and its associated errors, AP automation can enhance relationships with partners and suppliers while also saving time and money. How does AP automation work?

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AvidXchange

OCTOBER 11, 2022

So, as your business braces for a recession and starts to re-evaluate costs, you should ask yourself two questions: What can my accounts payable (AP) team do to impact the bottom line and prove itself as an asset that powers growth? How can my AP team leverage technology to perform efficiently in a hybrid/remote environment?

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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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AvidXchange

DECEMBER 15, 2023

Accounts payable (AP) is a challenging job that demands professionals to juggle numerous tasks simultaneously, from data entry to account reconciliation to monthly reporting. Yet those who work in departments with outdated technology and a reliance on manual processes feel less positive towards their organization.

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Nanonets

FEBRUARY 8, 2024

Among finance professionals and business leaders, AP automation is quickly shifting from an exploratory endeavor to a key strategic priority. If it feels like there is a never-ending supply of these tools, finding the ones that are worth your time and money can be the most time-consuming part of the robotic process automation journey.

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Nanonets

NOVEMBER 30, 2023

Companies that establish accounts payable best practices increase the visibility of information, reduce their invoice processing time, save money, strengthen internal controls and cash flow management, reduce fraud and errors, and improve vendor relationships. Use automatic AP invoice approval processes. 

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MineralTree

JUNE 29, 2023

This has caused challenges and delays across multiple stages of the AP workflow, including: invoice processing, payments, and reconciliation for 84% of the finance leaders. Savvy AP teams realize that strong vendor relationships and on-time payments are critical to a healthy supply chain. What is Vendor Management?

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AvidXchange

NOVEMBER 9, 2022

Automated AP solutions are especially helpful to real estate firms because of the industry’s notoriously complex, time-consuming AP processes. Bills for services and supplies are sent to individual buildings and property managers must make sense of them, reconciling what was billed with what was ordered and actually delivered.

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Nanonets

FEBRUARY 20, 2024

In the bustling world of business, managing accounts payable and invoice processing manually is becoming more and more challenging. Today, AP automation technology can automate what was once a laborious process. Today, AP automation technology can automate what was once a laborious process.

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MineralTree

MARCH 30, 2023

Accounts payable (AP) automation has become a popular tool for franchises to overcome these obstacles. In this article, we will discuss the challenges associated with franchise accounting and how AP automation helps solve them. What are the Challenges of Franchise Accounting? accuracy in line item information.

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Nanonets

FEBRUARY 20, 2024

Yet, despite its advanced capabilities, managing accounts payable and invoice processing manually in Xero is becoming more and more challenging. Today, AP automation technology can automate what was once a laborious process. Today, AP automation technology can automate what was once a laborious process.

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Nanonets

DECEMBER 29, 2023

For Xero accounts payable automation, Xero customers integrate third-party AP automation software.    AP staff needs to determine which designated budgetary manager(s) needs to approve the invoice, in accordance with company expense policy. Nanonets uses accounts payable best practices in its AP automation software.  

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AvidXchange

AUGUST 9, 2024

As organizations increasingly focus on digital transformation, many are turning to a paperless accounts payable process. As organizations increasingly focus on digital transformation, many are turning to a paperless accounts payable process. What is the Accounts Payable Process? What is the Paperless Accounts Payable Process?

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AvidXchange

JANUARY 10, 2024

He works closely with MCG’s accounting team, reviewing and approving invoices and providing ongoing support to ensure the automated solution runs smoothly and payments to suppliers are made accurately and without delay. The company needed a way to process payments remotely in order to ensure its suppliers were paid on time.

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Nanonets

NOVEMBER 14, 2023

Accounts Payable (AP) processes are an important function for every business, overseeing the outgoing payments to suppliers and vendors. Traditionally tackled through manual processes, digital transformation is now at the forefront of AP, with technologies like AI and ML revolutionizing how businesses manage their finances. 

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MineralTree

AUGUST 24, 2023

Are you relying on the current accounts payable (AP) workflow in QuickBooks Desktop or Online to manage your financial operations? The QuickBooks AP workflow includes tasks like invoice receipt, data entry, approval, and payment required to manage AP within the software. If so, you’re not alone. Each payment type (i.e.

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Nanonets

SEPTEMBER 29, 2023

Why Are KPIs Important For Accounts Payable AP Teams? Some of the critical reasons why KPIs are being increasingly used by AP teams across businesses are:  Reduce Risk Factors: KPIs can play a crucial role in indicating the health of your organization. What Are The Pain Points That KPIs Can Solve For The AP Team?

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Invoicera

MAY 14, 2023

Invoice automation solutions control how customers pay and lower the investment cost on an Account Payable (AP) team. The AP team manages customer service and orders and tackles the arduous task of keying hundred of invoices and verifying them against their original purchase orders.

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Nanonets

MAY 31, 2023

One significant activity in Accounts Payable (AP) processes is Invoice Matching. Using innovative technologies and automated toolsets can optimize invoice matching to provide extra leverage and value to a business. What is Invoice Matching? Looking to automate your manual AP Processes?

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Nanonets

MARCH 20, 2023

There are a variety of AP tools available today, with varying levels of functionalities and features. AP automation software that is available off the shelf today is either a standalone product or part of a full stack accounting ERP. Another compelling driver of AP automation is the elimination of errors. billion by 2030.

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Billing Platform

JANUARY 31, 2023

Has the manual effort of the invoicing process turned into daunting tasks that are resulting in errors and revenue loss? According to research, conducted by Levvel Research , 50% of businesses regardless of size (SME, mid-market, enterprises) have yet to automate their accounts payable (AP) processes.

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Nanonets

AUGUST 21, 2023

B2B payment automation involves everything from the automation of capturing and processing invoices to making payments to vendors and reconciling those payments in your books. In this brief guide, we will walk you through the basics of B2B payment automation and how to implement AP automation in your business.

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Nanonets

MARCH 21, 2023

It’s recorded in the General Ledger (or AP sub-ledger) as an outstanding payment or liability until the amount is paid. The increase or decrease in total AP from the previous period will be recorded in the cash flow statement. A well organized AP department can help companies save money and time. No code required.

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MineralTree

FEBRUARY 22, 2024

This blog takes a deeper dive into how your business can benefit from integrating your AP automation with Sage Intacct. Even with Sage Intacct in place, AP teams can continue to improve their payment process by automating steps of the process or converting the check spend to digital spend. Let’s jump in!

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Nanonets

FEBRUARY 26, 2024

Today, you can automate these processes using accounts payable automation solutions and optimise accounts payable for your finance teams. Our blog cuts through the complexity of AP processes, presenting a clear pathway to automation in 7 steps. The reason AP is challenging to optimise is really due to the nature of the beast.

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AvidXchange

OCTOBER 15, 2023

While the utility waits for its customers to pay their bills, the unpaid invoices are considered accounts receivable. Accounts receivable should not be confused with accounts payable (AP). AP is the debt a company owes to its suppliers or vendors. AR is an important assets to a firm, while AP is a liability that must be paid.

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Nanonets

APRIL 19, 2024

Xero, one of the premier SaaS accounting tools for small and mid-size businesses, helps address invoicing-related inefficiencies and other challenges in the accounting cycle. In isolation, Xero invoice software is a robust solution, but when paired with other AP automation tools, its effectiveness increases exponentially.

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Nanonets

NOVEMBER 15, 2023

The term paperless accounts payable refers to a completely digital AP process, eliminating the need for paper invoices. It involves the  AP department  leveraging technology to digitize invoices and related documents, automating the approval process, and conducting payments through electronic means.

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Nanonets

APRIL 3, 2024

In this article, we will discuss the importance of the vendor reconciliation process and the benefits of employing AI-enhanced tools such as Nanonets. What is Vendor Reconciliation In accounts payable (AP) activities, a vendor is an individual or entity that provides goods or services to the company.

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