Blog

Back Office Word of the Week 5/6/19

May 6, 2019

Data Capture Is the process of “capturing” and converting information from documents (paper or electronic) into a form that can be handled electronically, and preferably with little or no human intervention. In an Accounts Payable (AP) environment this information is extracted from invoices of varying formats and file types so the invoices can be processed […]

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Don’t Sacrifice Functionality to be in the Cloud

April 24, 2019

To take advantage of all the benefits of hosting an application in the cloud, you do not have to compromise functionality or configurability. Most business applications in the cloud today are offered as Software as a Service, or SaaS as it is commonly referred to. For many applications SaaS is a perfect delivery model for […]

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Back Office Word of the Week 4/22/19

April 23, 2019

Invoice Matching Invoice matching is the comparing and linking of a supplier invoice with the underlying data on which the cost is based, such as a contract or purchase order (PO). Usually companies will perform a 2 or 3 way match. A two way match compares the invoice amount to the corresponding PO. If the amounts […]

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Back Office Word of the Week 4/15/19

April 15, 2019

PO Flip A PO Flip, is essentially a conversion of a purchase order into an invoice. Usually done electronically or through an automated solution such as a Vendor Portal or Supplier Portal.  In a PO Flip scenario the vendor would enter a PO number into a web form and the the buying company’s systems would […]

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Back-Office Word of the Week

April 4, 2019

VENDOR SELF SERVICE Vendor Self Service is a benefit of Vendor Portals and Supplier Portals. Vendor Self-Service Portals allow a vendor to provide and access information without intervention from the buying company. This data may be necessary for vendor onboarding, compliance or payment or may be the results of payment status or payment dispute inquiries. […]

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Data Capture Solution Revolution

April 2, 2019

Data capture solutions have been around for a long time and continue to be used extensively in many different industries. Optical Character Recognition (OCR) is an example of a capture technology where data from scanned and digitized paper documents is captured for use by information management systems. OCR is widely used with positive results in […]

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Something Old, Something New

February 21, 2019

What many users are unaware of is that there are many money saving, process improving solutions available such as vendor portals, supplier portals, business process management, advanced workflows, vendor onboarding, accounts payable automation, and a variety of other technologies available in cloud hosted configurations.

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Top 4 Pain Points of Vendor/Supplier Management

January 14, 2019

Vendor/Supplier Management has become increasingly complex. Technological systems and solutions can increase efficiency and reduce some of the “pain” companies experience when trying to manage their hundreds or thousands of mission critical vendors. Check out ICG’s Vendor Management Tools. COMPLIANCE The complexity of vendor/supplier relationships increases as the vendor/supplier base grows in size. Vendors/suppliers may […]

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AP Automation in the Cloud

August 1, 2018

Today as cloud based applications are becoming more ubiquitous, AP automation, including many of the sophisticated technologies that were out of reach in the past, has become more affordable and available to many more companies.

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