CFO Dive

MAY 26, 2023

CFOs are under growing pressure to drive efficiencies at zero cost. Leveraging intelligent automation to process invoices can help, Steven Cronin writes.

Accounts Payable

https://trustedcfosolutions.com/feed/

MARCH 22, 2023

Are you tired of the countless hours spent managing your accounts payable (AP)? Do you want to streamline your accounting process to save the time and money spent on manual tasks on Quickbooks? With a growing business, it’s easy to outgrow the accounting systems you’ve relied on since the conception of your company.

Accounts Payable

PYMNTS

NOVEMBER 25, 2020

Companies long-used to sending and receiving paper invoices and checks are finding that digital methods can deliver funds and billing information at a far faster clip. This could mean adopting new accounts payable (AP), accounts receivable (AR) and other treasury strategies and technologies, for example. About The Report.

Invoicing

CFO Simplified

JUNE 23, 2022

It’s not unusual in a small company for the accounting manager to become the controller and then become the CFO. Let’s look at these two roles: CFO vs. Controller: What’s the difference? At the basic level, a controller is tactical, whereas a CFO is strategic. Codes and processes Accounts Payable invoices.

CFO

PYMNTS

DECEMBER 10, 2020

Increasingly, FinTechs and the businesses they serve are pulling double duty with solutions that tackle both accounts receivable and accounts payable friction for each end of the B2B transaction. Digitizing and modernizing B2B payments cannot be a one-sided effort. Wells Fargo, Bill.com Pull Double Duty With Partnership.

Accounts Payable

PYMNTS

NOVEMBER 4, 2020

Even with the digitization of the invoice, fraud remains a rampant problem, and it's not only the buy-side of the B2B equation faced with the consequences. Deepfake technology means criminals can masquerade their own voices to convince unwitting employees to approve an invoice for payment, for instance. A Straightforward Challenge.

Invoicing

CFO Share

DECEMBER 14, 2022

What is accounts payable ? What is accounts payable? Accounts payable is short-term obligations (aka bills) due to vendors for services or goods received. What are examples of accounts payable? Every vendor bill you receive in email or paper mail is part of your accounts payable.

Accounts Payable

Future CFO

JANUARY 26, 2024

Systems powered by artificial intelligence are without a doubt revolutionising invoice processing in finance departments. There are nine ways AI-powered systems can transform invoice processing in Accounts Payable (AP) departments.

Accounts Payable

Future CFO

MARCH 29, 2021

FutureCFO spoke to Marcus Rex, managing director for Asia-Pacific, xSuite, for his perspective on how finance automation in general, and accounts payable in particularly, can help transform finance into a profit centre. Myths around accounts payable (AP) automation. Recurring pain points in accounts payables.

Accounts Payable

Future CFO

AUGUST 14, 2024

AP (Accounts Payable) automation empowers organisations to regain control over their finances by automating tedious manual tasks that burn through staff time, such as line-item matching for invoices, payment reviews, and approvals, Sanford says. "By

Accounts Payable

CFO Share

MARCH 31, 2023

The accounts payable aging (AP) report shows when and how much you owe vendors. Why is an Accounts Payable Report valuable? The AP aging report summarizes and totals vendors’ bills by age, easily allowing you to see how much you owe each vendor and how much total cash you would need to catch up on all invoices.

Accounts Payable

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

Future CFO

APRIL 6, 2022

Accounts Payable is responsible for so much more than just paying incoming bills and invoices, particularly given today's global challenges. In partnership with Kofax , SSON ran an industry-wide AP Automation Maturity survey, gaining insights from all over the world into how companies are growing their payables efficiency.

Accounts Payable

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. “Any strategic CFO will recognize the need for digital transformation.” And there are a lot of them.

Invoicing

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

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.”

B2B

PYMNTS

SEPTEMBER 24, 2020

Accounts payable (AP) teams are now taking a fresh look at the potential of tools such as virtual cards to ease their transaction frictions. The September CFO Guide To Digitizing B2B Payments explores how corporate buyers are streamlining their B2B transactions with digital payments and supplier onboarding tools.

Accounts Payable

PYMNTS

NOVEMBER 26, 2020

These firms are also looking to process invoices faster and more efficiently, and they are adopting automations that can rapidly interpret invoice-related information and flow it into their systems. . That means leaving old-fashioned AR methods behind, as many corporate clients no longer want to receive invoices in the mail. . “It

Invoicing

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

CFO Share

MARCH 2, 2023

Accounts payable is the most common source of fraud in a small business. Both internal accountants and external hackers target weak AP processes to steal money since it is the business process most vulnerable to fraud. What are some of the common fraud attempts in accounts payable?

Invoicing

PYMNTS

NOVEMBER 18, 2020

New Jersey-based invoice-to-cash platform Billtrust has upgraded the machine learning (ML) capabilities of its business-to-business (B2B) cash application software, the company announced Wednesday (Nov. The firm's “model is unique in that it not only matches but also extracts data, resulting in dramatic match rate increases.

B2B

CFO Share

JUNE 18, 2024

This distributed approach not only reduces the burden on your accounting team but also ensures that financial data is accurate and verified by those closest to it. Here’s ideas on how you can implement this process: Sales – validates client invoicing. Purchasing – validates accounts payable invoices.

General Ledger

Future CFO

APRIL 21, 2021

Manual AP invoicing has been outdated and inefficient for years now, so when business across the globe encountered significant disruptions, companies with digital transformation still on their to-do lists felt the impact on their operations far more than those already using automation. What has changed, and what changes are here to stay?

Accounts Payable

Future CFO

JUNE 16, 2020

Within the SAP ERP application is a module to manage accounts payable. As you begin to digitize your invoices, you quickly discover that you can optimize the whole process by using workflow-based invoice-processing. The challenge becomes one of deciding which factors to consider when picking an approach.

SAP

Future CFO

MAY 15, 2022

Finance leaders may have noticed one invoicing trend that emerged in the last couple of years – the way invoices arrive at their organisations has quite clearly changed. Now, with remote and hybrid work commonplace, most invoices are delivered through employees’ and the finance team’s email accounts.

Invoicing

PYMNTS

MAY 28, 2019

Driving efficiency in accounts payable (AP) can stem from an array of efforts. In addition, adopting a digital accounts payable platform can streamline operations, as well as open access to digital data for analytical and process automation purposes. On the buyer side, that begins with the purchase order.

Accounts Payable

PYMNTS

NOVEMBER 5, 2020

Transacting with vendors through paper checks and receiving paper invoices have become more difficult due to postal service disruptions, companies’ shifts to working out of office and financial strains, however.

Invoicing

The Charity CFO

FEBRUARY 4, 2022

Create invoices for goods, services, and donations. Enter bills and vendor invoices. Allocate revenue and expenses to restricted fund accounts . Prepare the data accountants used to create income statement, balance sheet, and cash flow statement. Invoicing . Record and classify payments and bank transfers .

Nonprofit

PYMNTS

SEPTEMBER 24, 2020

the Massachusetts-based accounts payable (AP) automation software provider, announced a $50 million Series D investment round and the purchase of two companies Thursday (Sept. It processes more than 15 million invoices, representing $100 billion in AP spending annually in its software platform. MineralTree Inc.,

Accounts Payable

Future CFO

MARCH 16, 2022

According to the company’s assistant finance manager Kausalyaa Somosundaram , the exercise was primarily aimed at allowing the company to track its bookkeeping – both accounts receivables (ARs) and accounts payables (APs) – from one place. Kausalyaa Somosundaram. What is very interesting about this app is the automation process.

Finance

Future CFO

DECEMBER 28, 2022

The invoicing process encompasses much more than simply creating and transmitting an invoice. The total process cost per invoice includes the total cost of personnel, outsourcing, systems, overhead, and other allocations to these activities. per invoice. per invoice. Source: APQC. and top performers spent US$2.00.

Invoicing

PYMNTS

DECEMBER 30, 2020

Accounts payable (AP) departments were no longer in the office to cut paper checks, and accounts receivable (AR) personnel were no longer in the office to receive them. That's especially true, he told PYMNTS , when it comes to capturing data from purchase orders and invoices to accelerate document processing and reconciliation.

B2B

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

PYMNTS

DECEMBER 3, 2020

Plus, Basware enhances its accounts payable (AP) offering, CardUp eases commercial card adoption, Kofax adds new AP features and the Federal Reserve eyes bank lending. Kofax Adds New AI Features for Accounts Payable. Today in B2B payments, Visa embraces the USDC digital currency for corporate payments. 2) announcement.

Currencies

CFO Simplified

AUGUST 18, 2022

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. The formula for calculating the cash gap is: Days’ Inventory + Days’ Receivables – Days’ Payables = Cash Gap.

Accounts Payable

PYMNTS

FEBRUARY 1, 2021

It’s not that automating invoice generation, banishing checks, automating the cash application process and systematically removing all the manual touches from accounts payable (AP) and accounts receivable (AR) workflows weren’t unknown concepts among chief financial officers (CFOs) and treasury departments at the time. “The

B2B

CFO Simplified

JULY 24, 2022

How Does a Fractional CFO Work with a Remote Accounting Team? But even with all of those changes, the accounting function has remained essentially the same. To do so successfully, there are three things a fractional CFO must do. Let’s discuss this with Larry Chester , President of CFO Simplified. Its purpose?

Accounting