Our configurable solutions can be rapidly implemented to equip your workers with the tools they need to process transactions and manage vendors from any location.
Fraud in the accounts payable (AP) department can have a significant negative impact on a business. It can lead to financial losses, damage to reputation, and legal consequences. To protect your company from such risks, it’s essential to learn how to prevent fraud in your AP department and to implement robust fraud prevention measures. Why […]
Finding new technology for your organization can be stressful and time-consuming, but with businesses always growing and changing, adding new technology is necessary in many cases. Choosing the right technology can help optimize operations and achieve strategic goals, but choosing the wrong technology can stagnate or even hinder your organization’s success. One crucial factor to […]
For many businesses, relying on external vendors is essential, and ensuring these third-party partners adhere to your company’s standards and regulations is crucial. Here’s a five-step guide to ensuring vendor compliance: 1. Conduct Thorough Vendor Assessments Before entering a partnership, meticulously evaluate potential vendors. Your evaluation should include: Take the time to be thorough with […]
Essential Back-Office Technology Investments & Features Once seen as a purely operational department, the back office has grown in importance and now plays a critical role in a company’s overall strategy. Its efficiency and adaptability directly impact an organization’s bottom line and overall competitiveness. Future-proofing your back office operations through the technology you choose to […]
Vendor compliance is a cornerstone of a well-managed business, and keeping a close eye on your vendors to ensure compliance at all times is crucial to limiting your organization’s risk. What is vendor compliance? Vendor compliance is the process of ensuring your suppliers and partners adhere to specific rules, standards, and regulations. While it might […]
AI’s new roles in the financial back-office Traditionally, the financial back office has been filled with manual, time-consuming tasks. It relied heavily on processes such as paper-based record keeping, manual data entry, and labor-intensive reconciliation tasks; however, the emergence of artificial intelligence (AI) is rapidly transforming how the financial back-office works. One prime example of […]
Using Vendor Portals to Streamline Onboarding and Beyond For companies managing a large number of vendors, the onboarding process can be a time-consuming and error-prone task. From collecting paperwork to verifying information, a manual onboarding process can be a significant drain on resources. A vendor portal offers a streamlined solution to this challenge and delivers […]
Scaling Up Without Staff Overload Congratulations! Your business is booming. Sales are climbing, and you’re ready to take things to the next level. But before you hit the “hire” button on a bunch of new back-office staff, consider this: there are ways to achieve growth without adding to your payroll burden. In this post, we’ll […]
Happy Fourth of July! As we celebrate America’s spirit of independence, let’s explore how this theme translates to the business world. In today’s ever-evolving financial landscape, continuous improvement is the key to independence, and companies with the ability to adapt and improve continuously can make better informed and planned decisions in many cases. Why does […]
Accounts payable is changing. AI-powered systems are replacing tedious data entry and paper invoices, with streamlined processes, boosted accuracy, and self-learning. There are many methods by which these enhancements occur, but in the blog we will be focusing on self-learning through vector databases. What are Vector Databases? Unlike traditional databases that store information in text […]
