MineralTree

DECEMBER 15, 2022

Without AP automation to centralize all of the invoices and related documents, audits are a nightmare for AP teams that must physically sort through stacks of paper to find the docs they need. Mistakes made when manually copy coding invoices take a lot of time to correct. This is the second highest it’s been since 2009.

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

SEPTEMBER 6, 2017

Bill : We’ve been AvidXchange customers since 2009, so we were an early adopter of accounts payable automation. We decided to replace and enhance our AP invoice processing and go paperless. The approver might be traveling, and we wouldn’t have any visibility into the invoice or its status. It can’t get lost.

Accounts Payable 52

Accounts Payable Accounts Payable Billing AP 52

MineralTree

MARCH 2, 2023

This is impossible when AP teams are consumed with menial tasks like chasing invoice approvals and answering a flood of vendor inquiries. In fact, 61% of teams who have implemented AP automation now process more invoices with the same size team. As a result, many teams are turning to AP automation.

AP 83

AP Accounts Payable Accounts Payable AR 83

AvidXchange

SEPTEMBER 29, 2021

From the expansive list of industry myths, three stand out above the rest because they can be especially influential in leading you down the wrong, or right, paths in your processing of invoices and payments. Still not convinced? Why is disbelieving this myth so important?

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

DECEMBER 1, 2016

By 2003, their invoice approval software, AvidInvoice, was enabling companies to route invoices electronically and create intelligent workflows to automate their accounts payable processes. Two months later, they founded AvidXchange. In 2011, AvidXchange formed a new Energy Information Services (EIS) group, delivered by EnergySolve.

Accounts Payable 40

Accounts Payable Accounts Payable Billing Data Entry 40

Nanonets

MAY 31, 2023

This was evident during the 2008-2009 financial crisis, as shown in McKinsey’s survey above. Robotic Process Automation (RPA) and workflow management tools automate manual processes such as data entry, document processing, and invoice management.

Data Entry 52

Data Entry Invoicing Computation Collections 52

Nanonets

MARCH 27, 2023

Healthcare organizations worldwide are moving towards converting their patient records to electronic medical records due to HITECH Act of 2009. Nanonets is an AI-based OCR software that can extract data from patient documents like patient registration cards, medical bills, invoices, insurance papers, and more in seconds with 98%+ accuracy.

Billing 52

Billing Invoicing 52