Blog

Document Capture

Word of the Week – 10/7/19 Document Capture refers to software applications the provide the ability to automate the process of scanning paper documents or importing electronic documents. ICG specializes in the Document Capture of invoices for Accounts Payable environments. There are four main types of documents captured in the AP world. Scan/DATA Entry Scan/OCR […]

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Vendor Self-service

Portal based tools that deliver tremendous value and reduce risk. Vendor self-service is becoming a very popular trend in procurement, accounts payable and finance because of the tremendous value it delivers. Very simply “vendor self-service” is the process by which vendor management activities are directed away from the buying company to the the vendor, or […]

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Vendor Management

September 16, 2019

Back Office Word of the Week – 9/16/19 Vendor Management (sometimes called Supplier Management) is the process by which a buyer formalizes a relationship with their vendors and suppliers and manages that relationship through its lifecycle. The first step in a Vendor Management is typically procurement, where a buyer sources and negotiates a contract with […]

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Supplier Portals

Back Office Word of the Week – 9/9/19 A Supplier Portal (or Vendor Portal as some people call it) is a web-based, supplier management solution that allows you to collaborate with your suppliers in a secure, online environment. Among the functions a Supplier Portal can provide is to allow organizations to streamline the Supplier Onboarding process via supplier […]

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TIN CHECK

September 5, 2019

Back Office Word of the Week 9/2/19 – TIN CHECK When On-boarding a new vendor, a TIN Check is an important component of ensuring compliance. A TIN Check verifies that either a Social Security Number (SSN) or an Employer Identification Number (EIN) is valid and matches a person’s or company’s name in the IRS Database. […]

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Cloud Hosted Solutions

August 20, 2019

One of the most popular trends today in business is moving from on-premise and maintaining business applications on internal servers to cloud based applications. There are several reasons for this trend but two of the most common are that it reduces internal costs, particularly IT costs, and a greatly reduced IT role in getting new […]

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Procure to Pay – Back Office Word of the Week 6/24/19

Procure-to-pay, sometimes referred to as P2P, is a term used in the software industry to designate a specific subdivision of the procurement process. The procure-to-pay systems enable the integration of the purchasing department with the accounts payable department. The term is derived from the ordered sequence of procurement and financial processes, starting with the first steps of […]

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SaaS – Word of the Week 6/10/17

SaaS Is a method of software delivery and licensing in which software is accessed online via a subscription, rather than bought and installed on individual computers or servers. ICG has taken SaaS to a new level by providing Solutions as a Service in a single tenant, cloud hosted model. What that means is you get […]

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Electronic Invoicing – Back Office Word of the Week 6/3/19

June 3, 2019

ELECTRONIC INVOICING Often abbreviated as e-invoicing or einvoicing, is an electronic form of billing used between customers and their suppliers. The documents shared between the two parties could include invoices, purchase orders, payment terms or any other relevant documents and data that are needed for supplier to submit and buyer to approve for payment. The […]

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