AvidXchange

SEPTEMBER 6, 2023

Small businesses are feeling the crunch as inflation drives up prices and supply chain challenges persist. In 2021, only 31% of small businesses that applied for a loan received the funding they sought. One such method is invoice factoring, which offers a unique way to manage cash flow. What Is Invoice Factoring?

Invoicing

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.

Invoicing

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? What are the benefits of Mastercard payments processing? What is the cost of not having those funds?

Deposits

MineralTree

NOVEMBER 10, 2022

What are Duplicate Payments? A duplicate payment occurs when a company makes the same payment twice for the same invoice or bill. In fact, companies waste between 1%- 3% of their budget on duplicate or incorrect invoices, leading 16% of financial leaders to indicate that duplicate payments are a top issue for their team.

AP

AvidXchange

SEPTEMBER 21, 2021

A 2021 AvidXchange survey of 500 middle market businesses revealed 64 percent have the right technology in place to enable a fully remote workforce now compared to only 37 percent in March of 2020. Given these trends, what does this mean for how your business processes invoices and pay bills?

AP

AvidXchange

SEPTEMBER 15, 2021

Eighty-one percent of respondents said they felt some level of anxiety about the second half of 2021. More finance team members work from home, and the way invoices and payments are processed is shifting toward automation. Finance departments operate differently now because of changes caused by the pandemic.

AR

MineralTree

JANUARY 5, 2023

However, invoice payments still need to be made if business is to continue as usual, so AP teams must find alternative solutions to maintain their output levels even when understaffed. With the high turnover rates in 2022, automation tools are a valuable asset for teams to ensure that payment operations run smoothly amidst changing staff.

AP