Accounts payable shouldn’t be a cost center
CFO Dive
MAY 26, 2023
Leveraging intelligent automation to process invoices can help, Steven Cronin writes. CFOs are under growing pressure to drive efficiencies at zero cost.
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CFO Dive
MAY 26, 2023
Leveraging intelligent automation to process invoices can help, Steven Cronin writes. CFOs are under growing pressure to drive efficiencies at zero cost.
Future CFO
JANUARY 26, 2024
The outcome is boosted efficiency, increased accuracy, cost reduction, and stronger supplier relationships—a game-changer in Accounts Payable that allows finance leaders to navigate uncertain economic conditions and elections with confidence. The post Transforming accounts payable operations through AI appeared first on FutureCFO.
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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.
PYMNTS
MARCH 18, 2020
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.
PYMNTS
JUNE 12, 2019
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.
Future CFO
APRIL 21, 2021
So, what does the New Accounts Payable department look like? The new accounts payable department has a more intense focus on cash flow and payment terms and takes a more disciplined approach to its financial processes to work toward optimising the cash conversion cycle. What has changed, and what changes are here to stay?
PYMNTS
JULY 3, 2018
New research suggests a vast divide between businesses that have embraced technology and electronic processes in the accounts payable department and businesses that instead prefer to retain those paper invoices and checks. While the gap is wide, researchers noted overall improvement in the perception of the accounts payable department.
CFO Network
MARCH 11, 2024
Accounts Payable Management: Ensuring Timely Payments Another critical aspect of cash flow management is managing accounts payable effectively. Neglecting accounts payable can result in missed payments, damaged vendor relationships, and even disruption of essential supplies or services.
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.
The Finance Weekly
OCTOBER 13, 2021
Additionally, given the significance of new technologies in today’s context of business, FCs need to know how to leverage technical innovations to manage risk and generate value. Thus, they communicate with C-Level executives differently and more frequently than in the past. A prime example of such innovations is of course CPM software.
Future CFO
APRIL 6, 2022
Leveraging a modern approach to performance excellence driven by technology and a shift in mindset is key to opening many new opportunities for Accounts Payable.
CFO Share
MAY 10, 2024
By leveraging the detailed financial data they maintain, you can create a 13-week cash flow forecast that provides valuable insights into your upcoming cash obligations and helps you make better-informed decisions. List All Accounts Payable (AP) Due by Week (bookkeeper). Doing so sets them and your business up for failure.
CFO Share
FEBRUARY 23, 2024
Managing Vendor Payables Strategically Strategic management of accounts payable is another key aspect of optimizing cash flow in small businesses. Leveraging opportunities such as early payment discounts can also ease financial pressure. Prioritizing payments, settling critical supplier invoices first, for instance.
CFO Share
SEPTEMBER 12, 2023
Current assets refer to items like: Cash Accounts receivable Inventory, and Short-term investments that can be quickly liquidated, typically within a year. On the other hand, prudently managing accounts payable ensures you’re not parting with cash sooner than necessary, preserving liquidity.
PYMNTS
OCTOBER 16, 2020
Venture capital funding landed at startups focused on accounts payable (AP) and cybersecurity this week — with one payables startup raising $23 million in funding. Venture capital funding landed at accounts payable (AP) and cybersecurity technology firms, among other innovators that raised money this week.
PYMNTS
JANUARY 15, 2020
15), Basware said it has launched InvoiceReady, a “distinct business unit” within Basware that will offer the company’s existing SMB procure-to-pay and accounts payable (AP) product suite. In a press release on Wednesday (Jan. I believe there is more potential in this business.”
https://trustedcfosolutions.com/feed/
JULY 19, 2022
Scalability is crucial, and Sage Intacct puts you in a great position to drive growth by automating the complete range of primary and complex accounting processes so you can focus on analyzing your real-time business performance. Capture accurate, consistent visibility into every account, entity, and location.
https://trustedcfosolutions.com/feed/
FEBRUARY 11, 2023
Leverage AI-Powered Technology The AI-powered technology of Sage Intacct is adding real value to accounting teams by analyzing and interpreting large amounts of data quickly, efficiently, and accurately. You won’t feel like you’re always behind at the end of the close cycle or stuck reviewing manual entries and endless spreadsheets.
PYMNTS
OCTOBER 10, 2018
The app will leverage Mastercard In Control for Commercial Payments, letting community banks provide a white-labeled accounts payable platform for their corporate customers. Accounts payable departments are essential to the operations of any company,” said Regal Software founder and CEO Kofi Conduah in a statement.
PYMNTS
NOVEMBER 18, 2020
Prepaid cards are also being leveraged to streamline corporate purchasing, with firms providing these tools to employees so that the workers can make business-related purchases. The effort comes as part of a larger governmental push to expand residents’ access to eCommerce and reduce the amount of cash that needs to be printed.
PYMNTS
JANUARY 28, 2020
Many accounts payable (AP) professionals turning to electronic payments to streamline their companies’ payment processes — specifically, how they pay invoices from suppliers — are putting virtual cards at the top of their lists, and for good reason. A recent report by PYMNTS found that 46.4 About The Tracker.
https://trustedcfosolutions.com/feed/
MAY 27, 2022
Because Sage Intacct is a truly cloud-based application, you can leverage the power of the cloud with any time, anywhere access and easy integrations that allow you to scale your organization at your pace. With Sage Intacct, you can track programs, costs, menu profitability, and much more using role-based dashboards.
CFO Thought Leader
MAY 7, 2023
According to Vallurupalli, a private equity client with an appetite for leveraged buyouts asked Union Square to provide a rundown on 30 different companies and brief its investment committee on the results when it met 4 days later. How do I take my prior experience to the next opportunity and allow it to be leveraged?'”
PYMNTS
JANUARY 25, 2021
The four companies coming together is the result of a years-long effort to combine “organic business growth with targeted acquisitions to expand globally, reach new industries and become the first end-to-end provider of procurement, accounts payable, and accounts receivable solutions,” according to the release.
The Finance Weekly
DECEMBER 22, 2022
In 2023, organizations may focus on investing in technology that addresses specific pain points and offers a clear return on investment, such as spend management or accounts payable, rather than broader, more comprehensive investments like enterprise resource planning platforms, according to Born. “I
PYMNTS
DECEMBER 15, 2020
Buyers, too, are eager for change and need to adopt accounts payable (AP) methods that are easily managed by employees working from home. A recent report finds many companies are leveraging AI to help them more swiftly automate vendor invoices and support their liquidity management decision making.
CFO Share
APRIL 11, 2024
Vendor Fraud What is Vendor Fraud: This type of fraud occurs when hackers send fake invoices to the accounts payable (AP) inbox, masquerading as legitimate vendors. A more nefarious version occurs when your vendor’s email gets hacked and the fraudster (using the vendor’s actual email address) claims they changed bank accounts.
Future CFO
APRIL 22, 2024
According to a guidebook by software company Esker , after years of continuous change, adapting a more human-centric accounts payable approach is now a prerequisite for keeping a business competitive. This, of course, involves the adoption of technological advancements such as artificial intelligence within the team.
PYMNTS
NOVEMBER 9, 2020
Accounts payable (AP), accounts receivable (AR) and other capital management workflows are also not immune to pandemic-related struggles. One study found that 74 percent of accounting staff reported pain points when manually processing invoice data, for example, with 68 percent citing manual invoice routing as their top concern.
PYMNTS
NOVEMBER 18, 2016
Nexus Systems is partnering with a real estate technology company to help the industry adapt to more sophisticated accounts payable and procurement processes. Reports Thursday (Nov. 17) said Nexus is teaming up with MRI Software to develop an AP and procure-to-pay solution fit for the real estate sector.
PYMNTS
NOVEMBER 6, 2020
Handling accounts payable (AP), accounts receivable (AR), cash flows and other capital management tasks is an inescapable reality for almost every business that deals with inventory and sales, but these commonplace processes are fraught with obstacles. About The Playbook.
PYMNTS
NOVEMBER 11, 2020
Back office modernization is in the spotlight like never before, and solutions that streamline accounts payable (AP) and accounts receivable (AR) functions are in high demand.
PYMNTS
JULY 23, 2020
GEP , which works in procurement and supply chain strategy, has launched its new accounts payable (AP) solution, which will help automate AP services through cloud technology, artificial intelligence (AI) and machine learning (ML), according to a press release.
PYMNTS
SEPTEMBER 20, 2016
Accounts payable solutions firms Inspyrus announced a mobile app aimed at enabling invoice management for AP professionals on the go. According to Inspyrus, its invoice management technology is patent-pending and can automate up to 90 percent of accounts payable workflows. An announcement on Monday (Sept.
https://trustedcfosolutions.com/feed/
JANUARY 31, 2023
Automate your accounts payable processes. Leverage Sage Intacct to automate manual tasks, create cash flow statements, strengthen internal controls, and increase cash visibility. Here are a few best practices that you need as a controller and financial manager for a better cash management workflow: Get to know the numbers.
PYMNTS
NOVEMBER 17, 2020
In separate news, expert panelists told PYMNTS that the accounts payable (AP) automation market is projected to be worth $3.1 FinTechs can access FIs' competent lending, working capital and payment rails accessibility, and FIs can leverage FinTechs' more modern technology and mobile apps. billion by 2024.
PYMNTS
JANUARY 28, 2021
This week's look at the convergence between accounts receivable (AR) and accounts payable (AP) finds this tactic expanding in the corporate card arena, while another FinTech aims to boost cross-border payment traceability for both payer and payee. Tat Capital Eases Card Acceptance For Vendors.
PYMNTS
JUNE 30, 2016
The perception of the role of Accounts Payable among professionals has moved up a notch, according to Ardent Partners. But these perceptions may not line up to the realities of how the enterprise grasps the data provided from the accounts payable process. Professionals expect the accounts payable department to evolve.
PYMNTS
DECEMBER 1, 2020
APIs and accounts payable (AP)/accounts receivable (AR) automation are revving up the speed of money and financial data to a pace more in line with pandemic-era market demands. It’s making a major difference.
PYMNTS
JULY 25, 2019
For all the various ways businesses onboard new suppliers, the accounts payable (AP) professionals running the show seem to agree that performing them digitally makes it easier to receive, approve and pay supplier invoices. percent do this) and whether a new supplier is restricted by international sanctions (26.7
PYMNTS
DECEMBER 18, 2020
There’s simply no longer the time or bandwidth for manual accounts payable (AP) and accounts receivable (AR). An inefficient accounts payable process can lead to the loss of potential volume discounts, require additional staff and drive up the cost of processing,” the report continued. The poll of 325 U.S.
PYMNTS
JANUARY 13, 2021
This is critical in areas like accounts payable and accounts receivable, in which paper-based purchase orders and invoices can not only demand significant amounts of time to process, but can also be quite expensive, according to Sundelin. that have the leverage to require EDI adoption from their supplier base.
PYMNTS
JANUARY 2, 2019
Cards are still expected to account for only a minor fraction of B2B payments volume in accounts payable by the end of the year, after all, with ACH gaining traction as the go-to ePayments rail for corporate payers.
PYMNTS
APRIL 7, 2020
Transaction Matching, according to the press release, eliminates extra costs that third-party companies might impose and leverages the existing data for many transactions all at once.
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