Nanonets

FEBRUARY 26, 2024

Fraud and Compliance Risk : A study by the ACFE found that 14% of fraud instances originated in accounting departments, with a median loss of $200,000 per instance. Lost Productivity:  The average invoice processing time in a manual environment can reach as high as 45 days. Automate GL Coding: Action Steps: 1.

Accounts Payable 52

Accounts Payable Accounts Payable AP Data Entry 52

Nanonets

APRIL 17, 2023

Schedule a Demo Flow by Nanonets: Automate your Account Payable Process Benefits of AP automation Automation is being seen as the only way toward improved services, and efficiency in financial processes. Additionally, the software can include a check to ensure that an invoice has not already been paid, avoiding double payments.

AP 52

AP Accounts Payable Accounts Payable Purchase Order 52

Nanonets

AUGUST 17, 2023

In the 2021  World Class AP Performance: Efficiency Benchmarking Metrics report,  IOFM found that companies without Accounts Payable automation paid the highest average cost per invoice of $1.83 per invoice for the highest process maturity level. per invoice. 

Accounts Payable 52

Accounts Payable Accounts Payable AP Purchase Order 52

AvidXchange

DECEMBER 15, 2020

The survey also found 74 percent used an automated AP software system in 2020. That number is up from 66 percent in 2019 and 45 percent in 2018. Process inefficiencies The massive increase in remote working, while positive in so many ways, created invoice processing challenges for many businesses.

AP 40

AP Invoicing Financial Services Invoice Processing 40