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How to Improve Accounts Payable Performance

February 4, 2025

A smooth, efficient accounts payable process ensures timely vendor payments, maintains good relationships, and contributes to a healthy bottom line. However, a sluggish or error-prone AP department can lead to late payment penalties, strained vendor relationships, and wasted resources. So, how do you improve accounts payable performance and optimize processes? Let’s explore some key strategies. […]

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7 Accounts Payable Automation Best Practices

December 17, 2024

Accounts Payable (AP) automation has revolutionized the way businesses manage their financial operations. By streamlining processes and reducing manual tasks, AP automation can significantly improve efficiency, accuracy, and cost-effectiveness. To maximize the benefits, following accounts payable automation best practices is essential. Here are 7 key best practices to consider: Centralized Data Management Robust Workflow Design […]

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Choosing the Right Technology: The Importance of Customization

Your back-office operations play a crucial role in achieving efficiency. To streamline processes, enhance data management, and foster growth, selecting the right software is essential. But what sets a great back-office solution apart? There are many answers to this, but in this blog, we will focus on the importance of customization. The One-Size-Fits-All Myth Gone […]

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How to Prevent Fraud in Your AP Department

September 3, 2024

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 […]

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How Vector Databases Encourage Self-Learning

June 20, 2024

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 […]

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Streamline Your Accounts Payable Processes

June 3, 2024

AP Automation Best Practices Is your accounts payable (AP) department drowning in paperwork and manual tasks? You’re not alone. Traditional AP processes are often slow, error-prone, and a drain on valuable resources. But there’s a solution: automation. Although automation is nothing new to AP, new techniques and technologies continue to improve automation results. By leveraging […]

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4 Common Accounts Payable Myths

May 10, 2024

Debunking AP Myths to Improve Your AP Systems Despite advancements in technology and changes in best practice, there are several misconceptions in the world of accounts payable that persist. These common accounts payable myths can hinder efficiency, lead to errors, and even impact the bottom line of businesses. Let’s debunk four prevalent myths in the […]

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PO vs. Non-PO Procurement: Pros and Cons

April 3, 2024

Procurement processes are the backbone of any organization’s operations, ensuring that goods and services are acquired efficiently and effectively. Two common methods of procurement are Purchase Order (PO) and Non-Purchase Order (Non-PO) systems. Each method has its own set of advantages and disadvantages, which can significantly impact a company’s bottom line and overall efficiency. In this blog, we’ll delve into the pros and cons of both PO and Non-PO procurement to help businesses make informed decisions about which approach best suits their needs.

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Workflow Options in Back-Office Automation

All workflow solutions are not created equal. Rules-based workflows and ad hoc workflows represent two different approaches to managing processes within an organization. Understanding the goals of the business process(es) that need a workflow solution is key to making a good decision. In this blog we will address some of the high-level features and functions […]

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