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Business Posts

AI Assisted Back-Office Applications

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 Full June 7, 2023

AI in Data Capture and OCR

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 Full May 22, 2023

Vendor Management Portals

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 Full May 11, 2023

Why 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 Full May 1, 2023

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 Full April 25, 2023

Common 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 Full April 13, 2023

Prepare 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 Full April 4, 2023

Procurement & Finance – Team Vendor Management

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 Full March 30, 2023