Every organization, big or small, must handle invoice processing. This involves the accounts payable department receiving an invoice, checking its details, getting approvals, and making payments. Though it may seem simple, managing numerous invoices from various vendors can be frustrating. Delays in this process can affect your relationships with vendors and, consequently, your business outcomes. …
If you’ve been stuck with manual payments, with hundreds of spreadsheet tabs filled with payment details and tons of folders carrying old invoices, and you’re ready to make the switch to automation, you’re right on track. Before you make that move, it’s important to be sure you’re choosing a payment software that will make the …
5 Reasons to Choose Collect for Your Bill Payments Read More »
Automating payouts is a huge step in supercharging your organization’s financial operations. You’re saving time, improving your staff’s efficiency and productivity, saving money on supplies needed for manual payment, improving relationships with your vendors, suppliers & contractors and becoming more tax-compliant. There are so many benefits that come with payment automation and we want to …
If you own a business, vendor payments are something you are familiar with. It is one of the important forms of money movement among business operations. Every business utilises services from consultants and freelancers to shared office spaces and food providers. Chances are, you have some sort of a system in place to ensure you …
Automation can significantly simplify numerous workflows, reducing the need for administrative tasks and data entry, and in turn, giving you more time to focus on making money. Here are 5 areas within your business where you can begin implementing automation today. 1. Customer Relationship Management Customer relationships are of prime importance when it comes to …
Introduction Accounts Payable Automation is a powerful tool that can revolutionize how businesses manage their finances. This article will delve into the world of AP automation, shedding light on its benefits and the vital role it plays in helping to transform financial operations for companies of all sizes. Understanding Accounts Payable Automation Accounts payable automation …
Accounts Payable Automation: All You Need to Know Read More »
In today’s fast-paced business world, automation is no longer a luxury; it’s a necessity. One area where automation can have a profound impact is in the accounts payable (AP) process. Accounts payable automation leverages advanced data capture technologies to streamline the payment process, thereby, reducing human intervention and improving financial transparency. This automation can help …
5 benefits of automating your accounts payable process Read More »
The moment has arrived to install internet connections, revamp your website, replace worn-out office chairs, source raw materials, technology solutions, or outsource services. The big question that arises is: Who do I hire for the job? Selecting the right vendor is a critical decision for any business that requires a careful selection process. It’s more …
Selecting the right vendor – 5 things to consider Read More »
On average, businesses make 40-50 vendor payments monthly. These payments, done by finance managers or accountants, are made manually through regular bank transfers, reconciliations are done manually, and vendor invoices are managed using spreadsheets. Processing vendor payments manually can be extremely time-consuming, especially when there are new vendors to pay, from adding your new vendor …
