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 FullAutomated 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 vendor onboarding process: Let’s start the discussion by addressing the most obvious, and possibly most important, […]
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: Accounts Payable Automation (AP): AI-assisted software can automate repetitive tasks such as data entry, report generation, and invoice processing. […]
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 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
AI Leads to Efficiency 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. AI is here to stay and its influence and presence will become ubiquitous. Here are […]
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, we’ll dig a little deeper at some specific procurement-related functionality. Vendor portals and supplier portals offer many benefits to procurement: Vendor portals can offer […]
Read FullWhat is my Cost Per Invoice?
Cost per invoice = (Total personnel costs + Total overhead costs + Total technology costs + Other costs) / Total number of invoices processed
Read FullVendor Packets and Vendor Onboarding
April 17, 2023
So, what exactly is included in a vendor packet? The contents can vary greatly depending on the industry and the needs of the business.
Read FullVendor Onboarding Automation
April 12, 2023
Vendor onboarding portals, also know as supplier portals, are an essential tool for businesses that want to streamline their procurement processes. These portals can automate many of the tasks associated with vendor onboarding, such as collecting and verifying supplier information, ensuring compliance, managing contracts, and processing payments.
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