CFO Share

JULY 19, 2023

The biggest challenges facing accounts payable are chaos, maintenance cost, and fraud. Bring order to Accounts Payable. Accounts payable is a non-revenue-generating expense which best in class businesses minimize. Minimize fraud risk Accounts payable is the number one source of fraud in small businesses.

Accounts Payable 52

Accounts Payable Accounting Auditing Invoicing 52

Future CFO

MARCH 27, 2023

To curb rogue spending, businesses need to rethink how the accounts payable (AP) process can be improved. Today, many businesses still rely on manual invoice processing, for example, using e-mails to gain approval for payment, and using Excel spreadsheets to keep track of the progress of each payment.

Accounts Payable 52

Accounts Payable Accounting Invoicing Compliance 52

PYMNTS

MAY 4, 2020

Office closures and remote working mandates have created an uncomfortable wakeup call for accounts payable (AP) and accounts receivable (AR) departments that continue to rely on manual, paper-based processes. In both AR and AP departments, invoices change many hands and departments as they move through the approvals process.

Invoicing 66

Invoicing Accounts Payable B2B Reconciliations 66

PYMNTS

APRIL 17, 2020

Smooth accounts payable (AP) processes are critical in the spice business, in which purveyors must send funds securely to vast numbers of distributors and growers worldwide. … We don’t write it down even, [but] it’s all in our accounts payable [system],”.

Accounts Payable 60

Accounts Payable Securities Accounting Invoicing 60

PYMNTS

FEBRUARY 28, 2020

Purchase, invoice and transaction data are invaluable to the journey of digitization and automation, but organizations are increasingly recognizing that the value can only be realized if that data can integrate seamlessly across platforms. “This combination increases data accuracy, and shortens payment cycles.”

Accounts Payable 83

Accounts Payable Banking Invoicing B2B 83

PYMNTS

JUNE 2, 2020

To provide non-touch invoice processing and support remote work, SoftCo rolled out its SoftCo ExpressAP accounts payable (AP) automation technology. SoftCo ExpressAP removes costly manual invoice processes, enforces cost control, and supports a safe remote working environment.”.

Invoicing 52

Invoicing Accounts Payable Vendor Management Accounting 52

PYMNTS

AUGUST 3, 2020

With accounts payable professionals working remotely, Anderson said he’s heard from some firms whose AP staff have had to physically take check-printing machines to their homes — opening up the door for fraudulent activity. If it hasn’t happened to you, it will. It’s only a matter of time.” ” $18.5

B2B 131

B2B Invoicing Accounts Payable Accounting 131

PYMNTS

MARCH 13, 2019

This stumbling block to innovation is often visible in accounts payable (AP) departments, Corcentric SVP of Sales Daniel Andrew told PYMNTS in a recent conversation. Manual, paper-based invoicing systems are objectively worse in every metric when stacked against automated, digital AP systems that leverage straight-through processing.

Accounts Payable 44

Accounts Payable Accounting Invoicing Benchmarking 44

PYMNTS

DECEMBER 29, 2020

Now, with electronic processes in place in accounts payable (AP) and accounts receivable (AR) departments, businesses are in a more strategic position than ever before to elevate workflows and strengthen B2B relationships. B2B payments are messier than B2C payments," said Chanda.

B2B 114

B2B Reconciliations Accounts Payable Invoicing 114

PYMNTS

FEBRUARY 24, 2020

For the accounts payable (AP) and enterprise resource planning (ERP) automation space, it’s no longer business as usual. That volume meant that the firm struggled with time-consuming invoicing and a lack of transparency under legacy operations, requiring 20 to 30 employees to manually input data into its corporate system.

Accounts Payable 89

Accounts Payable Invoicing Education Reconciliations 89

CFO Share

MAY 31, 2023

Accounts payable is an annoyance at best, a disaster at worst. More and more businesses use accounts payable outsourcing as a solution to this problem. What to look for in an accounts payable company. Accounts payable outsourcing should include setting your business up with an automated solution.

Accounts Payable 40

Accounts Payable Accounting Auditing Invoicing 40

PYMNTS

APRIL 8, 2020

This stands in stark contrast to how the accounts payable (AP) departments at many businesses process payments. To a significant extent, this process remains stuck in the predigital era and is ruled by checks and paper-based invoices, which are often accompanied by weeks-long delays and cash flow problems. Federal Reserve.

Invoicing 89

Invoicing Accounts Payable Auditing Securities 89

The Finance Weekly

NOVEMBER 8, 2022

As the number and quality of software tools increases, companies are constantly looking to find better ways to cut down on manual work and increase efficiency. Finance is responsible for a large number of critical operations in a business. Finance is responsible for a large number of critical operations in a business.

Financial Planning and Analysis (FP&A) 98

Financial Planning and Analysis (FP&A) Finance Accounts Payable Invoicing 98

PYMNTS

FEBRUARY 6, 2018

Most companies today have at least some kind of automation in place within the accounts payable (AP) department. Even when invoices flow in as paper documents, organizations are using electronic solutions or optical character recognition (OCR) tools to process those bills for payment. Technology for Technology’s Sake.

Accounts Payable 40

Accounts Payable Accounting Invoicing Analyzing Data 40

PYMNTS

JANUARY 18, 2021

This week's B2B Data Digest takes a look at the numbers behind the latest instances of fraud, including fraudulent invoices, corporate tax scams and more. $19 Amazon produces goods from its vendors, who must agree to adhere to purchase orders that list the product identification number, number of units and price per unit.

Invoicing 87

Invoicing Accounts Payable B2B Securities 87

PYMNTS

FEBRUARY 26, 2020

Many are turning to enterprise resource planning (ERP) tools with accounts payable (AP) automation to harness both solutions’ abilities and level up their businesses’ values. The time it takes to process an invoice also drops from 10.3 Benefits of Combining ERP and AP Automation Solutions.

Invoicing 83

Invoicing Accounts Payable Reconciliations Accounting 83

PYMNTS

NOVEMBER 21, 2018

With pressure mounting for the enterprise to digitize, accounts payable automation is seen as a crucial part of achieving greater efficiency, cost savings, visibility into spend and strengthening of vendor relationships, to name a few benefits. But when it comes to money, businesses may be reluctant to hand the reins to a third party.

Accounts Payable 63

Accounts Payable Invoicing Accounting Reconciliations 63

PYMNTS

AUGUST 12, 2020

Palette Software unveiled accounts payable (AP) automation technology that is designed for firms in the construction and engineering industries and run on the cloud, according to an announcement. Finance administrators and project managers both benefit from automation of the accounts payable process.

Construction 69

Construction General Ledger (GL) Accounts Payable General Ledger 69

PYMNTS

OCTOBER 29, 2018

Accounts payable (AP) automation certainly has the potential to transform the invoice-to-pay process by allowing employees to turn their attention from monotonous, manual tasks to more value-added ones. “Old suppliers are constantly dropping off, and new suppliers are continually being added.

B2B 73

B2B Accounts Payable Invoicing Accounting 73

PYMNTS

MAY 6, 2019

Yet invoicing and payments haven’t kept up with the times. Many accounts payable departments are still operating in an analog world. This so-so score is due to a number of factors. percent) still use paper checks to pay invoices. A significant share of invoices (43.8 out of 100. Far fewer use ACH (63.8

Invoicing 43

Invoicing Accounts Payable Accounting Numbers 43

PYMNTS

SEPTEMBER 19, 2019

Processing invoices is time consuming and costly. weeks and approval from two to five people in order to process a single invoice. It may even take more of each when invoice payments are particularly large or nonrecurring. In practice, companies start to process invoices faster somewhere around the 20,000 per-month mark.

Invoicing 49

Invoicing Accounts Payable Planning Accounting 49

PYMNTS

JUNE 20, 2019

According to PYMNTS data, more than 60 percent of digital platforms say too many false positives are a significant point of friction in the conversion process — and more than 30 percent say it’s their number-one challenge. Suppliers can also submit duplicate invoices, or issue the same invoice with different billing amounts.

B2B 73

B2B Accounts Payable Invoicing B2C 73

PYMNTS

FEBRUARY 6, 2020

That “next step” for CounselLink is the launch of FastTrack , a supply chain financing capability developed with LSQ that enables corporate legal departments to initiate and manage their reverse factoring and discounting agreements with outside counsel and to pay invoices. ” From Cost Center to Strategist. .

Invoicing 52

Invoicing Accounts Payable Finance Auditing 52

PYMNTS

AUGUST 17, 2020

PYMNTS breaks down the numbers of the latest in B2B fraud below. 9 in 10 of ASX 100 companies were found to have lapsed security strategies that allow for email spoofing and invoice scams , a new report from Agari said. 300,000 was stolen by an accountant in Australia , according to ABC.net.au

Invoicing 94

Invoicing Accounts Payable Pharmaceutical Healthcare 94

PYMNTS

DECEMBER 9, 2020

Unlike B2C retail, B2B workflows can be particularly complex, with many organizations requiring the ability to submit a purchase order, receive an invoice and establish custom payment terms with the seller. The Outsourced FinTech Opportunity. Other value-added tools that layer atop card transactions can combat friction even further.

B2C 118

B2C B2B Accounts Payable Invoicing 118

PYMNTS

SEPTEMBER 11, 2020

The Business Payments Coalition (BPC) is asking for industry input on the kinds of data connected with the most utilized invoice exchange processes in North America as the next phase in a digital invoicing initiative, according to an announcement.

Accounts Payable 70

Accounts Payable Invoicing B2B Accounting 70

PYMNTS

FEBRUARY 1, 2021

Smooth accounts payable and receivable processes depend on the ability to easily access, manage and interpret payments data, but complex workflows and old-school tools can get in the way. Many firms still have AR systems that require employees to juggle different software platforms and conduct procedures manually. .

Accounts Payable 93

Accounts Payable Reconciliations Invoicing Treasury 93

PYMNTS

MARCH 4, 2020

One of the largest is in corporates’ struggle to manage the growing number of back-office solutions in place, while managing the pain point of aggregating data across these platforms and consolidating it. Efforts to modernize procurement and accounts payable are also opportunities for data integration with the ERP.

Cash Flow Forecasting 104

Cash Flow Forecasting Accounts Payable General Ledger Corporate Finance 104

PYMNTS

JUNE 16, 2018

In a survey of accounts payable professionals released last week, analysts found that suppliers often struggle to gain insight into whether or not their invoices have been paid. ” “When will my invoice be paid?”

Invoicing 40

Invoicing Accounts Payable Accounting Numbers 40

CFO Simplified

AUGUST 18, 2022

The cash gap is the number of days between when we spend money buying presents, and when I get paid next. The cash gap, also known as the “Cash Conversion Cycle” (CCC), measures the time between when you need to write a check for your payables or payroll and when you receive payment of the invoices for the items you’ve sold.

Accounts Payable 105

Accounts Payable Invoicing Accounting Sales 105

PYMNTS

MAY 22, 2017

Sure, digital invoices aren’t the most riveting of topics — but don’t be fooled: they’re at the center of B2B FinTech innovation, critical to a company’s bottom line. That strategy today needs to keep in mind that a digital invoice journeys across multiple systems for both buyer and supplier. The discussion on eInvoicing is changing.

Invoicing 41

Invoicing Accounts Payable Compliance B2B 41

PYMNTS

NOVEMBER 10, 2020

Businesses of all sizes struggle with capital management, regardless of whether they employ staff or seek out third parties to handle their cash flows, accounts payable (AP) and accounts receivable (AR) processes and other related tasks. Automating Capital Management. A study found that 74.2

Invoicing 87

Invoicing Accounts Payable Treasury Sales 87

PYMNTS

DECEMBER 15, 2017

Complex on so many levels, especially when it comes to payments and, more specifically, invoicing, where demands for payment are tracked through paper and electronic means. Flywire’s background in the healthcare and education space, along with its existing invoicing system, helped assist these businesses in new ways.

Invoicing 48

Invoicing Reconciliations Currencies Education 48

PYMNTS

OCTOBER 17, 2016

“Our Data Insights reports source line-item detail directly from invoices. Managers can evaluate outcomes and trends with confidence, while eliminating the number of steps historically required to answer who, where, when and how event dollars were and will be spent.”

Accounts Payable 75

Accounts Payable Invoicing Compliance Numbers 75

PYMNTS

APRIL 9, 2020

To help additional middle-market companies automate their accounts payable (AP) processes, MineralTree announced that it has grown its integration abilities, according to a press release. Middle-market businesses are absolutely critical to the U.S.

Accounts Payable 76

Accounts Payable Invoicing Accounting Economics 76

PYMNTS

NOVEMBER 2, 2020

Palette Software has connected its accounts payable (AP) automation cloud technology with Aptean ERP , according to a Monday (Nov. The intuitive dashboard of Palette offers a full summary of vendor invoices as well as their status in the approval workflow in addition to outstanding payables. 2) announcement.

Accounts Payable 56

Accounts Payable B2B Invoicing Construction 56

PYMNTS

OCTOBER 31, 2016

While the financial terms were undisclosed, that deal seeks to expand the former firm’s reach into the automated accounts payable space. The challenge here, for firms of such size, is perhaps not surprisingly the greater volume of invoices and processing that needs to be addressed.

Invoicing 69

Invoicing Accounts Payable Concentration B2B 69