Xero

MAY 30, 2022

Here are five apps that have joined the new Xero App Store since launch in August 2021, and are helping small businesses seize the post-pandemic opportunity. . Datamolino: Streamlining data from bills, invoices and receipts. Datamolino streamlines and automates the accounts payable process.

XERO 276

XERO Bookkeeping Accounts Payable Accounts Payable 276

AvidXchange

JANUARY 1, 2021

As the new year kicks off, many of us feel a renewed sense of optimism and anticipation for the possibility of what lies ahead as we leave behind a tumultuous 2020 and start fresh in 2021. In fact, 68 percent of leaders believe their business is in a good position to grow in 2021. If you use accounts payable software.

AP 52

AP Accounts Payable Accounts Payable Data Entry 52

AvidXchange

DECEMBER 10, 2020

business leaders ranging from middle management to C-level executives to learn about their challenges and priorities as they gear up for 2021. Unfortunately, we weren’t all that surprised to learn 52 percent of those surveyed have experienced invoice processing delays during the pandemic. What’s motivating the digital push?

Invoice Processing 52

Invoice Processing Invoicing AP Accounts Payable 52

AvidXchange

FEBRUARY 19, 2021

Your business may believe it’s time to consider shifting to an automated and paperless accounts payable (AP) process. Why should I consider moving to paperless accounts payable? By scanning and uploading an invoice for routing electronically, the company cut days to weeks off its routing process.

Accounts Payable 40

Accounts Payable Accounts Payable AP Accounting 40

AvidXchange

JANUARY 15, 2021

As a finance professional, you may be struggling with your manual accounts payable (AP) paper processes and questioning what to do about it. Well, this accounts payable software explainer will help you get out from under tedious, inefficient data entry and on to more important matters. What is accounts payable software?

Accounts Payable 52

Accounts Payable Accounts Payable AP Data Entry 52

Nanonets

SEPTEMBER 21, 2023

Quotes and invoices play crucial roles in business transactions, but it's essential to understand how they differ in terms of purpose and function. On the other hand, an  invoice  is a formal document that is sent to a customer after a sale has been made and the goods or services have been delivered. What is an Invoice?

Invoicing 52

Invoicing Invoice Processing Collections Tax 52

AvidXchange

MARCH 3, 2021

However, thousands of companies still use overly complex manual accounts payable processes. Those facts are the key findings from IDC and PYMNTS.com surveys focused on the accounts payable (AP) market. Read more: Is Paperless Accounts Payable Right for Your Business? What do all these stats mean?

Accounts Payable 40

Accounts Payable Accounts Payable AP Accounting 40

Nanonets

NOVEMBER 16, 2023

This is where Accounts Payable (AP) Automation emerges as a critical tool, not merely for managing payments but as a strategically in scaling your business. AP Automation involves leveraging technology to streamline, optimize, and automate the processes associated with managing a company’s accounts payables.

AP 52

AP Accounts Payable Accounts Payable Invoicing 52

AvidXchange

NOVEMBER 4, 2022

Dawn Palmer with Brazos Valley Schools Credit Union shares how AvidXchange helped automate their accounts payable process Brazos Valley Schools Credit Union (BVSCU) was chartered in 1954 in Katy, TX as a teacher’s credit union. It was a huge challenge.”

AP 52

AP Accounts Payable Accounts Payable Expense Reports 52

AvidXchange

OCTOBER 16, 2023

Though he works with a bookkeeper who handles his finances, outstanding invoices sometimes weigh heavy on his mind. “In 2023, I’m getting paid for services rendered in 2020 and 2021. He typically waits 45-90 days to get paid on the invoices he submits after completing projects for his clients. But neither is rapid payment.

AR 52

AR Invoicing Deposits Accounts Receivable 52

AvidXchange

APRIL 18, 2023

McKinsey reports that 82% performed a digital payment in 2022 – up from 78% in 2021. Accounts payable (AP) automation allows your financial teams to pay bills in a similar, simplified fashion. Cost savings: AP automation software saves more than $7 per invoice on vendor invoice processing.

AP 52

AP Accounts Payable Accounts Payable Financial Operations 52

AvidXchange

JANUARY 10, 2024

Belsterling’s work includes overseeing the administration of TimberScan and AvidPay for Sage 300 CRE, the construction firm’s comprehensive accounting and construction management software solution. Chasing paper and approving invoices to be paid with paper checks wasted a lot of valuable time and money.

AP 52

AP Invoice Processing Invoicing Accounts Payable 52

AvidXchange

FEBRUARY 1, 2023

Douglaston Development controller shares how TimberScan and AvidPay modernize accounts payable Adam Ditchfield graduated from CUNY Queen’s College in New York with his bachelor’s degree in accounting and economics. TimberScan streamlines the accounts payable process, enables access to real time data and reduces redundant work.

AP 52

AP Accounts Payable Accounts Payable Invoicing 52

MineralTree

NOVEMBER 16, 2023

Accounts payable technology provides a centralized view of pending invoices and bills. Given the need for accuracy, many companies are turning to AP automation platforms: Adoption has grown by 61% between 2021 and 2022, according to MineralTree’s 2023 State of AP Report.

AP 84

AP Invoicing Billing Financial Analysis 84

AvidXchange

JANUARY 29, 2021

Read more: Expert Insights for Peak Performance in 2021 The big takeaway? One late payment leads to another late payment, and invoice processing gets delayed along the way. More than one third (37 percent) receive the bulk of their invoices and payments by snail mail instead of trusting accounts payable software or e-payment solutions.

Computation 40

Computation AP Invoicing Invoice Processing 40

MineralTree

FEBRUARY 16, 2023

The State of ACH Fraud Today 71% of organizations were victims of payment fraud attacks or attempts in 2021. In 2021, 68% of organizations were targeted with a BEC scam. The Accounts Payable (AP) team is the most susceptible department in terms of this attack, with 58% of those surveyed noting their AP teams were compromised.

AP 52

AP Accounts Payable Accounts Payable Data Entry 52

MineralTree

NOVEMBER 10, 2022

Duplicate payments are a huge headache for accounts payable departments and their vendors. A duplicate payment occurs when a company makes the same payment twice for the same invoice or bill. Below are some common ways this mistake happens: No Centralized Process for Receiving Invoices. What are Duplicate Payments?

AP 52

AP Invoicing AR Accounts Payable 52

AvidXchange

APRIL 18, 2023

Donors Want Digital Donations McKinsey reports that 82% of Americans conducted a digital payment in 2022 – up from 78% in 2021. Additionally, accounts payable (AP) automation software can help nonprofit financial departments map each donation’s journey through the business, easily generating reports for donors and board members.

AP 52

AP Financial Operations Financial Operations Accounts Payable 52

AvidXchange

JANUARY 21, 2021

So, it’s understandable to be concerned about losing control and taking on more risk by using accounts payable (AP) software and trusting automation. Better visibility and control You may be concerned that by hiring a company to handle these processes you won’t be able to track what’s going on with your payments and invoices.

AP 52

AP Invoicing Invoice Processing Computation 52

AvidXchange

DECEMBER 4, 2023

McKinsey reports that 82% of Americans conducted a digital payment in 2022 – up from 78% in 2021. This is becoming true in the payment space, as the adoption of digital payment platforms increases. While person-to-person (P2P) payment tools like Venmo grow in popularity, businesses are beginning to expect that same convenience.

Collections 105

Collections Reconciling Invoicing Accounting 105

AvidXchange

JUNE 23, 2022

shares how AvidXchange helped solve her invoice and payment challenges in the construction industry Sorrells & Co. , The challenges: Missing invoices, daunting approval cycles and Friday pay days Reliant on scores of contractors, subcontractors and suppliers, Sorrells & Co. was drowning in invoices. “We

AP 52

AP Invoicing Invoice Processing Data Entry 52

AvidXchange

DECEMBER 21, 2020

Many finance pros still use manual accounts payable (AP) processes that are highly susceptible to duplications, transposed numbers, math mistakes and missing data that can’t be trusted when trying to make sound business decisions. Machine learning cuts the amount of manual intervention in invoice and payment processes.

AP 52

AP Accounts Payable Accounts Payable Invoicing 52

NextProcess

DECEMBER 30, 2022

According to the 2021 State of Manufacturing Report , “94% [of respondents] report concerns about their current supply chains” and for “68%, improving supply chain resilience and agility is the number one business priority.” Improved visibility and accountability make identifying and correcting issues in the supply chain simple.

Purchase Order 52

Purchase Order Record Keeping Accounts Payable Accounts Payable 52

NextProcess

NOVEMBER 10, 2023

That includes employees making purchases using the system, purchasing managers, department and budget owners, and accounts payable employees. One of the things the Deloitte Global 2021 Chief Procurement Officer Survey reported on was the focus of top-performing chief procurement officers (CPOs).

Budgeting 52

Budgeting Collections Invoicing Accounts Payable 52

AvidXchange

SEPTEMBER 29, 2020

You have a creative opportunity to use all the payment, invoice, cash flow, customer and other types of data to generate more valuable insights. These insights lead to more intelligent business decisions such as ways to deliver more personalized payment and invoice services to customers, vendors and suppliers faster and more economically.

AP 40

AP Accounts Payable Accounts Payable Invoicing 40

Nanonets

NOVEMBER 14, 2023

Whether you are a startup catering to multiple markets or a well-established corporation with a global supplier network, understanding the intricacies of international invoice processing is essential for your financial operations to run efficiently.    What are International Accounts Payable?

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

JULY 13, 2023

The macro-trends impacting the economy and labor force are compelling the few remaining centralized back-office functions like accounts payable (AP) to become decentralized as well. By implementing the right digital tools, property management businesses can successfully address some of these obstacles.

AP 52

AP Accounts Payable Accounts Payable Billing 52

AvidXchange

OCTOBER 14, 2022

Once an invoice is approved and a check is cut, it can take anywhere from seven days to a few weeks for payment to reach a vendor. What are the benefits of paper check payments? VCC payments include highly valuable remittance data, such as invoice amount, number and date, and payment information.

Deposits 52

Deposits AR Invoicing AP 52

AvidXchange

DECEMBER 15, 2020

Read more: Expert Insights for Peak Performance in 2021 So as we close the books on 2020, it’s important for finance pros to know these major turning points will reshape the fintech market next year and beyond. Businesses that master these integrations will be well positioned to excel in 2021. How widespread will digital become?

AP 40

AP Invoicing Financial Services Invoice Processing 40

MineralTree

MARCH 16, 2023

Despite the fact that organizations around the globe are gearing up for digital transformation , many AP teams still heavily depend upon costly and antiquated systems such as paper invoices and checks. For example, many businesses incorporate AP automation , e-invoicing, and other digital tools to quickly gain an edge over their competitors.

Accounts Payable 88

Accounts Payable Accounts Payable AP Data Entry 88

Nanonets

JUNE 27, 2023

billion in 2021, propelled by technological advancements, including the introduction of AI-based applications, machine learning, big data, and the Internet of Things (IoT). Accounts Payable and Finance Departments AI-enhanced OCR technology enhances financial and accounting processes within the automotive value chain.

Purchase Order 52

Purchase Order Billing Invoicing Invoice Processing 52

AvidXchange

APRIL 18, 2022

above our December 2017 benchmark, which was when we started tracking middle market spending. Since early 2020, spending increased each quarter and peaked at 18% above our benchmark following Q1 2021. In the first quarter of 2020, spending on financial services was 6.4% Then spending fell each of the next three quarters to 13.4%

Financial Services 52

Financial Services Accounts Payable Accounts Payable AP 52

MineralTree

JULY 27, 2023

Accounts Payable (AP) teams remain a prime target for these scams because they have access to sensitive payment account information for vendors. Scammers who impersonate vendors in BEC emails often request updates to bank account information, alongside a request for payment. How do BEC Emails Work?

AP 68

AP Invoicing Accounts Payable Accounts Payable 68

AvidXchange

JANUARY 28, 2022

AP automation helps attract and retain talent You can deliver payment efficiencies by using AP software that automates and speeds up the invoice and payments approval process compared with the slow-moving, disorganized and error-prone nature of paper processes. By automating your accounts payable (AP) processing and payments.

AP 52

AP Invoicing Purchase Order Accounts Payable 52

AvidXchange

JANUARY 24, 2023

In the first episode of the “Net 30” podcast by the AvidXchange Podcast Network , host Chris Elmore sat down with Rhonda Greene and Gary Larson to discuss the future of accounts payable (AP). of all accounts payable associates are women 71.3% of all accounts payable leads are women 76.0%

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

OCTOBER 25, 2022

A 2021 Future of Workplace survey of human resource leaders reveals that 68 percent rated employee mental health and well-being as a high priority. “The ability to listen to your employees with an open heart is key. Employees may feel better about the direction of their careers if they can develop new skills.

AP 52

AP Accounts Payable Accounts Payable Invoicing 52

AvidXchange

JULY 13, 2023

Compared to check payments, credit card payments via merchant account offer several benefits, including: Faster cash flow: Receive payment funds in days instead of weeks. A report by the Federal Reserve notes that 28% of payments in 2021 were made via credit card. You receive remittance advice digitally to reconcile the payment.

Accounting 52

Accounting Accounting Deposits Data Entry 52