AvidXchange

NOVEMBER 3, 2021

With this goal in mind, we’re sharing insights that one of our principal solutions consultants, Rhonda Greene, offered during our recent REVx 2021 event. In a 2021 survey conducted by Levvel Research, 16 percent of financial leaders said duplicate payments and/or payments were among their top payment challenges.

AP 52

AP Invoicing Accounts Payable Accounts Payable 52

Nanonets

NOVEMBER 16, 2023

This shift from manual to automated processes ensures that tasks are completed more efficiently, reducing time spent on data entry and checking human errors and resolving discrepancies. This involves verifying invoice details, matching them to purchase orders, and ensuring that the goods or services billed for have been received.

AP 52

AP Accounts Payable Accounts Payable Invoicing 52

Nanonets

MARCH 30, 2023

Intelligent Document Processing (IDP) refers to the automation of data extraction from unstructured documents. It eliminates the need for manual data entry, reduces errors, and increases efficiency in document management. As we enter the sixth decade of the information age, data has become a currency of the business world.

Data Entry 52

Data Entry Invoice Processing Invoicing Purchase Order 52

Nanonets

NOVEMBER 14, 2023

billion in 2021 to USD 7.5 Enhanced Efficiency and Accuracy: AP automation reduces manual data entry, minimizing human errors and thus reducing the time spent entering and error-checking information. This leads to more accurate data handling and efficient processing of invoices. billion by 2030 at a CAGR of 12.5%.​​

Accounts Payable 52

Accounts Payable Accounts Payable AP Invoice Processing 52

Nanonets

AUGUST 1, 2023

Traditionally, document workflow management relied on manual tasks, such as printing, scanning, mailing, manual data entry, the physical transmission of documents across the hierarchy for approval, etc. With the advent of automation tools, businesses are now leveraging automation to better manage their document workflows.

Data Entry 40

Data Entry Purchase Order Auditing Invoicing 40

Nanonets

MAY 31, 2023

million individuals in the United States fell victim to identity theft in 2021. In 2021, a staggering 323,972 internet users worldwide became victims of phishing attacks, indicating that half of the cybercrime victims fell prey to this method. Moreover, automation brings significant improvements in accuracy and data validation.

Data Entry 52

Data Entry Auditing Computation Purchase Order 52

Nanonets

JUNE 27, 2023

In light of these factors, digital document/data processing and management have become paramount. Not surprisingly, the automotive data management market was valued at USD 1.58 Integrating OCR technology with financial systems facilitates data collation and improves the accuracy of financial record-keeping.

Purchase Order 52

Purchase Order Billing Invoicing Invoice Processing 52

Nanonets

AUGUST 1, 2023

The integration of Artificial Intelligence (AI), cloud-based data storage solutions, and data analytics tools is set to transform the audit industry, reshaping the way accountants and auditors carry out their tasks. Automation obviates labor-intensive tasks like data entry and analysis. This is where Nanonets helps.

Auditing 40

Auditing Data Entry Purchase Order Computation 40

Nanonets

APRIL 24, 2024

According to a 2021 survey conducted by Forbes among finance and accounts-related executives, nearly all respondents (98%) noted that their external audit firms utilize advanced technology. This capability is crucial, as almost all executives recognize the significance of technology in improving audit quality and client experience.

Bank Reconciliation 52

Bank Reconciliation Auditing Reconciling General Ledger 52

oAppsNet

APRIL 23, 2025

Morgan’s 2022 AFP Payments Fraud and Control Survey, 71% of organizations experienced a payment fraud attempt in 2021. Key practices: Purchase Order Approval: Purchase requisitions must go through a structured approval workflow, ensuring spend is tracked and budget-compliant before a purchase order is issued.

AP 52

AP Purchase Order Accounts Payable Accounts Payable 52