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Automated Vendor Onboarding Process

June 20, 2023

Save money while accruing more great benefits! Automating the vendor onboarding process can provide a number of benefits in addition to significant cost savings for businesses. Below we discuss a number of the benefits of implementing a cloud-hosted, automated vendor onboarding process: Let’s start the discussion by addressing the most obvious, and possibly most important, […]

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AI in Procurement

June 15, 2023

It’s all about the analytics! AI (artificial intelligence) increases performance, lowers supplier risk, and decreases costs in procurement operations. Here are some key areas where procurement practitioners can utilize AI to make a significant impact on their operations: Demand Forecasting: AI algorithms can analyze historical data, market trends, and external factors to provide accurate demand […]

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AI-Assisted Back-Office Applications

June 7, 2023

Where to leverage artificial intelligence AI-assisted applications can greatly drive financial back-office automation by streamlining processes, reducing manual effort, and increasing accuracy. Here are a few AI-powered applications that can be utilized in financial back-office automation: Accounts Payable Automation (AP): AI-assisted software can automate repetitive tasks such as data entry, report generation, and invoice processing. […]

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AI in Data Capture and OCR

May 22, 2023

Artificial Intelligence (AI) plays a crucial role in data capture and OCR (Optical Character Recognition) applications, revolutionizing the way we process and extract information from various sources. For accounts payable (AP) departments and other financial back-office areas, AI assisted data capture can provide tremendous efficiencies and increased accuracy.

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Vendor Management Portals

May 11, 2023

What are they? Why do I need one? Vendor management portals, also referred to as vendor portals or supplier portals, are cloud-hosted software platforms that allow organizations to efficiently manage their relationships with suppliers, vendors, and contractors. Some of the key features and benefits of a vendor management portal include: Centralized Database: A vendor management […]

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AI’s Impact on the Financial Back-Office

May 8, 2023

AI Leads to Efficiency AI is already having a significant impact on financial back-office operations, and its influence is expected to increase exponentially in the coming years. While many will see opportunity others will not be so be so optimistic. AI is here to stay and its influence and presence will become ubiquitous. Here are […]

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Why Procurement Needs Vendor Portals

May 1, 2023

Increase efficiency, decrease vendor risk and track service levels Vendor portals offer many benefits to procurement departments. We will look at some general benefits these highly collaborative, cloud-hosted portals provide. Then, we’ll dig a little deeper at some specific procurement-related functionality. Vendor portals and supplier portals offer many benefits to procurement: Vendor portals can offer […]

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