article thumbnail

Transforming accounts payable operations through AI

Future CFO

The technological advancement provides more than just automation and reshapes roles, empowering finance teams to zero in on strategic activities like data analysis, supplier negotiations, and decision-making. There are nine ways AI-powered systems can transform invoice processing in Accounts Payable (AP) departments.

article thumbnail

Why Cloud-Based Accounts Payable Is Make Or Break

PYMNTS

Employing accounts payable (AP) automation solutions can help smooth onboarding and streamline the data collection and analyzing processes, removing the many friction points that are prone to legacy systems. How a business begins a relationship with a supplier can determine how lasting — and profitable — that bond becomes.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Business workflow automation: What are companies’ priorities?

Future CFO

Accounts payable, transaction processing, and bank statement processing are the top three priorities in terms of business workflow automation , according to a global survey of 800 executives by Kofax. Survey highlights. Survey highlights. appeared first on FutureCFO.

article thumbnail

5 Ways to Mitigate the Accountant Shortage

CFO Leadership

Implementing software can help shift time allocation for accountants by automating time-consuming and routine tasks including data entry and financial statement preparation. With the right technology in place, companies can lessen the accounting staffing needed, without sacrificing accuracy or compliance.

article thumbnail

Capitalising on the Fintech apps in APAC

Future CFO

This trend is driven by the need for real-time data analysis and insights to make informed business decisions. Financial and accounting processes include managing the general ledger, accounts receivable & payable, billing and invoicing, reporting & analytics, bank reconciliation, budgeting & forecasting, etc.

article thumbnail

How Inefficient B2B Payments Systems Hobble Business Growth

PYMNTS

Corcentric President and COO Matt Clark explained that failing to transform financial functions, like accounts payable (AP) and accounts receivable (AR), can actually stall businesses’ expansion efforts. However, financial transformation is complex.

B2B 75
article thumbnail

Financial Metric Madness: How SMBs Can Set Meaningful KPIs for Their Business as Part of Their Financial Reporting and Analysis Process

Centage

Some of the most common KPIs used for SMBs include operating cash flow, gross profit margin, revenue growth rate, market share, customer churn rate, break-even markers, accounts payable and receivable timelines, expense ratio, budget versus actual, and customer acquisition cost.