automate-invoice-management-and-cut-your-payment-processing-costs-dramatically Blog Related Topics 
Nanonets
FEBRUARY 1, 2024
In the rapidly evolving business landscape, the efficiency of Accounts Payable (AP) processes is no longer just a back-office concern but a strategic imperative. Accounts Payable (AP) automation is the use of technology to streamline and improve the process of managing a company's bills and payments owed to others.
Billing Platform
JANUARY 1, 2024
Depending on your needs, workflow can be simple or it can be extremely complex. However, one thing is certain – when it comes to workflow automation, there are some misconceptions. Take for instance workflow versus billing process management (BPM).
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AvidXchange
MARCH 9, 2022
In business, order to cash (O2C) encompasses the processes used to get paid from a customer order. This can seem like a straightforward process, but anyone who has been involved in sales at a large company knows that the operation is not so simple. Whenever possible, invoicing and accepting payment before delivery is ideal.
AvidXchange
FEBRUARY 28, 2018
Think about how you evaluate your financial budget for the month. Spreadsheets and budget apps may help, but it’s easy to miss the outstanding auto-drafted bill or upcoming payments. Your company must go through the same process, otherwise known as accounts payable reconciliation. Check, check, and check again.
AvidXchange
DECEMBER 15, 2020
These included cloud computing to cut infrastructure cuts, machine learning and data analytics to generate more insights and make better decisions, and cybersecurity tools to detect and prevent more fraudsters from stealing corporate and employee data. The industry has not only managed to stay afloat but show growth as well.”
MineralTree
FEBRUARY 1, 2024
The pandemic dramatically exposed the inefficiencies of manual, paper-based processes and the difficulties of managing remote team members, invoice approvers, and payment authorizers. Teams leveraging AP automation report significant efficiency gains (85%) and faster, more timely payments (63%).
Nanonets
FEBRUARY 26, 2024
Finance teams are well aware of the tedious and error-prone nature of manual accounts payable processes. Sorting through stacks of paper invoices, reaching out to approvers individually, and mailing checks are extremely tedious and error-prone. This could also lead to late payments or in some cases potential vendor fraud.
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