Know Your Cost Per Invoice?
Cost per invoice = (Total personnel costs + Total overhead costs + Total technology costs + Other costs) / Total number of invoices processed
Read FullVendor Packets and Vendor Onboarding
April 17, 2023
So, what exactly is included in a vendor packet? The contents can vary greatly depending on the industry and the needs of the business.
Read FullCommon Issues in Financial Back-Office Operations
One of the most common issues found in financial back-office operations is the use of inefficient manual processes. Many of these operations still rely on manual processes for tasks such as data entry, record-keeping, and reporting.
Read FullVendor Onboarding Automation
April 12, 2023
Vendor onboarding portals, also know as supplier portals, are an essential tool for businesses that want to streamline their procurement processes. These portals can automate many of the tasks associated with vendor onboarding, such as collecting and verifying supplier information, ensuring compliance, managing contracts, and processing payments.
Read FullPrepare Your Financial Operations for a Downturn
Solutions to reduce costs and increase efficiency in the financial back office Reducing costs and increasing efficiency in the financial back office is a top priority for many companies who continue to prepare their organizations for economic uncertainties. Here are some top way that can help achieve these goals: By implementing these solutions as well […]
Read FullProcurement & Finance – Team Vendor Management
March 30, 2023
Procurement and finance are two crucial departments within any organization that have a significant impact on its success. When these two departments work together, they can significantly improve the vendor management efforts of an organization resulting in cost savings, better vendor relations, and healthier supply chains.
Read FullBenefits of Implementing Best-of-Breed
In today’s rapidly evolving business landscape, organizations are constantly seeking ways to optimize their operations, reduce costs, and enhance productivity. One way to achieve these goals is by investing in best-of-breed business solutions. These solutions are designed to provide superior functionality, flexibility, and scalability than their all-in-one counterparts, such as ERP platforms.
Read FullThis Economy Rewards Vendor Self-Service
March 15, 2023
Vendor self-service can help mitigate effects of a tight labor market and cost pressures. Vendor self-service is a term used to describe a set of tools and processes that allow vendors to manage their own information and interactions with a company. It is a way for businesses to empower their vendors, giving them the tools […]
Read FullFinding the Right AP Automation Solution
March 14, 2023
What are the factors to consider in an AP automation solution? When selecting an AP (Accounts Payable) Automation solution, there are several factors to consider. Of course your specific company and industry requirements will play a role, but in general here are some key things to look for: Beyond the technology it is important that […]
Read FullCompliance – Are Your Vendors There?
February 24, 2023
These highly configurable, cloud-hosted solutions provides our clients peace of mind that their vendor remain in compliance and their vendor master data is up to date, reducing any risk of liability.
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