Accounts payable: Why CFOs should pay attention

CFO Dive

Over one-third of your invoices have errors, and costs to process these may be up to ten times greater than a "clean" invoice

Seamlessly Manage Your Accounts Payable And Account Receivable

Capvel

Steady cash flow is essential for the survival of every business, and this can be assured by maintaining a perfect balance between accounts payable and accounts receivables. Here, we share tips on successfully managing accounts payable and accounts receivable; read on.

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How Does Accounts Payable Process Work For A Business?

Capvel

Businesses must pay attention to the accounts payable cycle and gain comprehensive knowledge to ensure a proper flow exit. The growth of a business depends on the well-balanced and interconnected process of accounts payable and accounts receivables. .

Seamlessly Manage Your Accounts Payable And Accounts Receivable 

Capvel

Steady cash flow is essential for the survival of every business, and this can be assured by maintaining a perfect balance between accounts payable and accounts receivables. Here, we share tips on successfully managing accounts payable and accounts receivable; read on.

Embracing Accounts Payable Automation: The Paper Vaccine

PYMNTS

While other departments may have abandoned manual, paper-based strategies years ago, accounts payable (AP) and finance departments held their ground on practices that seem to have changed little since the 1970s. Paper-based invoice processing is particularly prevalent in the U.S.,

Basware Debuts AI Tool For Accounts Payable Automation

PYMNTS

To automate the transformation of machine-readable PDFs to digital invoices, Basware has rolled out SmartPDF AI in the newest expansion of its SmartPDF offering. The tool uses information taken from past invoices through a cutting-edge machine learning (ML) model, according to a Tuesday (Sept.

Kodak Automates Invoice Processing For Accounts Payable

PYMNTS

14) that it is introducing an invoice automation feature. The company said its Kodak Services for Business will include invoice automation as the company pushes for further accounts payable (AP) automation capability. The function, based in the cloud, automates invoice capture and data entry, as well as invoice validation. B2B Payments accounts payable AP AP automation B2B Innovation invoice automation News supplier payments What's Hot In B2B

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.

Regional Banks Guide Corporates To Future-Proof Accounts Payable

PYMNTS

Accounts payable (AP) teams and other financial functions of the enterprise were some of the hardest hit by the disruption caused by the global pandemic. “Companies are increasingly looking to more efficiently manage the accounts payable process,” he said.

Kofax Adds New AI Features For Accounts Payable

PYMNTS

Intelligent automation supplier Kofax has announced new innovations for its invoice and accounts payable (AP) solutions, according to a press release. B2B Payments accounts payable B2B Kofax News What's Hot In B2B

Palmarius Debuts Accounts Payable Tool

PYMNTS

Cost containment solution provider Palmarius Advisors is rolling out an accounts payable (AP) automation solution designed to generate revenue and enhance spend control for corporate users. In a press release issued Tuesday (July 2), Palmarius Advisors announced that its AP solution provides automated reconciliation and increased security to mitigate the risk of fraud while simplifying accounts payable transactions.

Strategizing Accounts Receivable To Drive Accounts Payable Modernization

PYMNTS

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.

Looking Beyond ePayments In Accounts Payable

PYMNTS

With adoption rates now rising, accounts payable (AP) departments have improved their positions within the enterprise as strategic functions, with the potential to offer greater insight into company operations. Businesses, though, are all at different levels in their accounts payable departments, not only in their journeys of digitization, but in their journeys to elevate their AP processes to deliver greater value to the enterprise at large.

Protecting Accounts Payable From Smarter, Faster Fraudsters

PYMNTS

In an interview with Doug Cranston, vice president of product management at Bottomline, the executive noted that in the age of speed, fraudsters are able to more easily exploit firms’ vulnerabilities, compromise their accounts payable process and get away with ill-gotten gains, often to vanish without a trace. They understand the payments space, they understand the settlement systems, they understand accounts payable,” he said.

Cegid And Esker Form Accounts Payable Tech Partnership

PYMNTS

In order to provide its customers with even better service, Cegid wanted to give them the opportunity to fully automate their supplier invoicing management processes. Partnerships / Acquisitions accounts payable Cegid esker News partnerships What's Hot

Accounts Payable AI Company Stampli Raises $25M

PYMNTS

The artificial intelligence-based accounts payable company Stampli has raised $25 million in a Series B funding round, the company announced Wednesday (Oct. Stampli redefines invoice management by turning the invoice into a communication tool allowing AP to seamlessly collaborate with all departments and external vendors.”. The company is now processing about $12 billion in invoices annually, which is four times more than it was processing at the beginning of 2018. .

Use accounts payables automation to keep your processes in the ‘safe zone’

Future CFO

Accounts Payable is responsible for so much more than just paying incoming bills and invoices, particularly given today's global challenges. The post Use accounts payables automation to keep your processes in the ‘safe zone’ appeared first on FutureCFO.

Accounts Payable Automation And Innovation Friction

PYMNTS

Innovation for accounts payable is often an afterthought, but automated solutions can efficiently onboard customers, cut back on errors and eliminate paper-based invoicing systems. Today In Data accounts payable artificial intelligence automation Commerce friction Innovation Invoicing News payments Today in Data

Xerox Digs Heels Into Accounts Payable Sector

PYMNTS

Xerox is strengthening its position in the accounts payable services space with a new suite of business solutions. The five horizontal services include Intelligent Workplace Services to automate workflows, Capture & Content Services to capture data across channels, Accounts Payable services to automate invoicing and payments, Digital Hub & Cloud Print Services for cloud-based printing services, and Campaigns on Demand Services to manage marketing campaigns.

Challenges and opportunities in the automation of accounts payables

Future CFO

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.

Tipalti Bolsters Accounts Payable Platform With AI-Powered Pi

PYMNTS

To make the complete payables process smarter, global payables automation company Tipalti unveiled its Tipalti Pi integrated payables intelligence engine, according to a press release. B2B Payments accounts payable B2B News Tipalti Tipalti Pi What's Hot In B2B

Streamlining The Accounts Payable Conversation

PYMNTS

To that end, IntelliChief, which provides document management and workflow management software solutions, said it has now added configurable index panels into its ECM platform, which means that the company has extended its accounts payable features to embrace non-purchase order invoices, building on top of previous automation efforts tied to purchase orders. Data points and invoices could be presented differently in graphical form or across different languages.

A ‘Payment-Agnostic’ Approach To Accounts Payable

PYMNTS

The competition is heating up between payment technologies in accounts payable, with ACH and virtual cards seeing significant pushes in the B2B payments space to combat the dreaded paper check. Such illustrates the importance of accounts payable being “payment agnostic,” according to Richard Jackman, president and CEO of B2B payments technology firm ePayRails.

The Accounts Payable Conundrum: Same-Day ACH Vs Checks

PYMNTS

Accounts payable can be a contradiction showcasing the frustratingly slow pace of B2B payments digitization. In PYMNTS’ Payables Friction Playbook , “Why Firms Are Ready For An AP Upgrade,” a collaboration with Corcentric , paper checks came out on top as the most widely used payment tool by accounts payable (AP) departments. And yet, they’re also among the least liked by AP professionals, PYMNTS’ survey of 2,570 accounts payable professionals revealed.

Yooz Taps SnapCheck To Digitize Checks In Accounts Payable

PYMNTS

Accounts payable (AP) solution provider Yooz has struck a strategic partnership with SnapCheck to address the friction of companies paying suppliers by check. Together the companies are able to integrate into existing ERP solutions, with Yooz automating invoice management and SnapCheck offering its Digital Checking Platform to pay those invoices.

How Cloud-Based Accounts Payable Portals Are Helping Secure The Spice Trade

PYMNTS

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],”.

Esker, Fuji Xerox Team Up For APAC Accounts Payable

PYMNTS

Cloud-based accounts payable solution provider Esker is teaming up with document services unit Fuji Xerox to deploy accounts payable solutions across the Asia Pacific region, the companies announced on Wednesday (Feb. Fuji Xerox, a joint venture between Fuji and Xerox, will link its own corporate customers in Japan to Esker’s cloud-based accounts payable technology.

Kodak, CoreIntegrator Roll Out Accounts Payable Automation Platform

PYMNTS

Kodak Services for Business is introducing a new accounts payable solution, the result of a collaboration with business process automation software firm CoreIntegrator. 13) in a press release that they have developed their AP automation tool, A/P One, to automate the invoice receiving and processing workflow for corporates. Users manually categorize each invoice to properly route it through the approval process.

Automate Or Stagnate: The Choice Accounts Payable Departments Face

PYMNTS

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. When done wrong, automation can be every bit as time-consuming and costly as manual invoice processing.

How Intelligent Accounts Payable Is Changing The Face Of The ERP

PYMNTS

Straight-through processing (STP) is the gold standard for accounts payable (AP) departments. It allows invoices to be received, reviewed and pushed through for payment, all without manual intervention. However, experts have agreed that STP is best for companies without a high level of invoice exceptions. That’s because many automated technologies will simply route an invoice flagged as an exception to a human for manual review of the document.

Accounts Payable’s Opportunity To Become A Profit Center

PYMNTS

There’s much discussion about the friction associated with traditional, manual, paper-based accounts payable (AP) processes, as well as about technology’s opportunity to address pain points. And more recently, AP technology service providers have also brought suppliers’ accounts receivable (AR) pain points into the fold, adding yet another incentive for companies to digitize and automate. Research has found manual invoice processing costs an average of $10.08.

CEOs, Finance Staff On Opposite Sides Of The Accounts Payable Fence

PYMNTS

A new report from Software-as-a-Service (SaaS) firm Inspyrus suggested that chief executive officers and accounts payable (AP) professionals aren’t seeing eye to eye on AP technology, and organizations are failing to upgrade their AP processes and tools as a result. Ninety-three percent of accounts payable professionals surveyed said faults exist in their AP processes.

MineralTree, Visa Push For Cards In Accounts Payable

PYMNTS

Today, accounts payable firm MineralTree announced a collaboration with Visa with a goal of helping corporates pay their suppliers by virtual card. Their partnership will create a platform in which Visa’s Payables solutions and card technology integrates into MineralTree’s AP management tool and will be offered to financial institutions so they can support their own corporate clients’ commercial card payment needs.

The new accounts payable department & the future of payables

Future CFO

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. So, what does the New Accounts Payable department look like? A surprising amount of AP teams are still manually processing invoices.

Convincing Accounts Payable To Be Hands-Off With Supplier Payments

PYMNTS

As corporate buyers embrace the strategic value of a stronger relationship with suppliers, finance executives are paying more attention to the technologies used to pay vendor invoices. A similar disconnect occurs with paper checks: Suppliers don’t want to be paid this way, but corporates may be used to paying invoices with this rail. “Accounts payable users have to deal with separate apps and separate processes, but there is no need for such overlap.”