AI assisted Data Capture vs. Traditional OCR
June 26, 2023
Contact ICG Consulting today to start a conversation on how ICG’s AI assisted data capture solutions can deliver immediate value to your financial back-office.
Read FullAutomate Your 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 suppler onboarding portal: Let’s start the discussion by addressing the most obvious, and possibly most important, […]
Read FullAI in Procurement
It’s all about the analytics! AI ( artificial intelligence ) can be deployed in numerous area to increase performance, lower supplier risk and decrease costs in procurement operations. Here are some key areas where procurement practitioners can utilize AI to make a significant impact in their operations: Overall, AI can significantly improve performance and lower […]
Read FullAI 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: It’s important to note that while AI-assisted applications can automate several aspects of financial back-office operations, human oversight and […]
Read FullArtificial Intelligence (AI) Impact on Business
May 30, 2023
AI can be an enabling technology and need not be an “all or nothing” proposition. Using elements of AI to augment and strengthen embedded technology solutions can provide significant short-term benefit
Read FullAI 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.
Read FullVendor 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 […]
Read FullAI’s Impact on the Financial Back-Office
May 8, 2023
Efficiency gains but be vigilant with security and data privacy 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. Regardless of what side of the issue you […]
Read FullWhy Procurement Needs Vendor Portals
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 dig a little deeper at some specific procurement related functionality. Vendor portals and supplier portals offer several benefits to procurement, including: Vendor portals can […]
Read FullKnow Your Cost Per Invoice?
Cost per invoice = (Total personnel costs + Total overhead costs + Total technology costs + Other costs) / Total number of invoices processed
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