AvidXchange

MAY 30, 2023

They have less time to focus on strategic initiatives like researching technology solutions to enable them to scale or increasing portfolio count to grow the business. Investing in Technology is an Investment in Your Employees’ Careers 85% of AP pros agree or strongly agree access to tools and technology helps with professional development.

AP 52

AP Budgeting Accounting Accounting 52

AvidXchange

NOVEMBER 10, 2022

Accounts payable (AP) automation is a technology solution that accounting teams use to convert paper invoices into a digital format and then automate the process of organizing within the system, routing approvals, coding and executing payments. As invoice volumes increase, AP leaders need to decide how to handle them.

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

OCTOBER 20, 2023

However, with exponential growth also comes challenges in scaling the business. Although 9thWonder had an automated payment provider in place, it still found the payment process to be time-consuming and lackluster. As its motto goes: “Use some of us or all of us. The company was ready for an upgrade.

Invoicing 52

Invoicing AP Customer Service Accounting 52

AvidXchange

NOVEMBER 30, 2022

When using an accounts payable (AP) automation system, it’s important to find a solution that integrates with your existing technology. A full application programming interface (API) integration between your property management accounting software and AP automation solution can offer a more efficient AP process.

AP 52

AP Accounts Payable Accounts Payable Purchase Order 52

Nanonets

SEPTEMBER 29, 2023

But bottom-performing organizations take a week or more, and this metric—the cycle time between receiving invoices and making payments—is reflective of how efficient a company’s Accounts Payable (AP) process is. Streamlining vendor payments is thus an important part of any business’ financial operations.

Financial Operations 52

Financial Operations Financial Operations Data Entry Invoicing 52

AvidXchange

FEBRUARY 17, 2023

Among the findings, the majority of respondents expect topline revenue to increase in 2023, but very few plan to make large investments in headcount for their financial operations to manage such growth. Improving automation and figuring out how to equip folks with better productivity tools goes a long way to bridging that gap.”

AR 52

AR AP Accounts Payable Accounts Payable 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

JULY 14, 2022

It’s a question that weighs heavy on the minds of construction firms, general contractors and subcontractors. In a press release from the Associated Builders and Contractors (ABC), ABC Chief Economist Anirban Basu said: “The workforce shortage is the most acute challenge facing the construction industry despite sluggish spending growth.

AP 52

AP Billing Invoicing Accounting 52

Nanonets

NOVEMBER 15, 2023

The term paperless accounts payable refers to a completely digital AP process, eliminating the need for paper invoices. It involves the  AP department  leveraging technology to digitize invoices and related documents, automating the approval process, and conducting payments through electronic means. The cherry on top?

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

Invoicera

MARCH 22, 2024

Bringing automated invoicing into your business can be really helpful and increase your productivity. Thus, we have listed the top 15 leading automated billing software that are reshaping companies in 2024. Grab a cup of tea and explore this blog post for a better understanding of all popular invoicing software in the market.

Billing 52

Billing Invoicing Invoice Processing QuickBooks 52

Nanonets

FEBRUARY 28, 2024

Welcome to our latest blog post, where we embark on a deep dive into the intricacies of the General Ledger (GL) — the bedrock of any business's financial system. We will start with the basics: What exactly is a General Ledger, and why is it paramount to your business's financial health? What is a General Ledger?

General Ledger 52

General Ledger Data Entry Invoicing Accounts Payable 52

AvidXchange

SEPTEMBER 2, 2021

Compared with automated electronic payments, they’re tough to keep track of, are more susceptible to fraud and take longer to arrive at their destinations. So while it’s true paper checks are still widely used, there are plenty of solid business reasons to stop using them and automate your payments. Employee morale could drop.

AP 52

AP CPA Financial Reporting 52

AvidXchange

MARCH 29, 2016

With AP automation , nonprofit organizations can reduce their AP and payment processing costs. In an automated workflow, nonprofits can track invoices electronically and have a central repository for invoice data that can be accessed anytime, anywhere. Source: TechValidate. TVID: C2D-14E-308.

AP 52

AP Invoicing Accounting Accounting 52

AvidXchange

AUGUST 6, 2018

With all of the FinTech noise around blockchain, Bitcoin, and RegTech, AP automation can seem like just one more tech-savvy trend to add to the list. They must consider the board of directors, budget, ROI, and direction of the business’ growth and opportunities. What is AP Automation? Can this wait?”

AP 52

AP Invoicing Budgeting Data Entry 52

AvidXchange

MAY 7, 2019

But as businesses begin to scale for growth and eliminate paper, automated bill payment software and e-payments are proving to be essential for a simple, swift and secure payment pipeline. Why Businesses are Hesitant to Implement E-Payments Businesses are hesitant to automate for a handful of reasons. per invoice.

AP 52

AP Accounts Payable Accounts Payable Invoicing 52

AvidXchange

JUNE 6, 2022

Table of Contents Importance of Accounts Receivable Management Accounts receivable is a cornerstone of financial stability and growth in the B2B sector. The Receivables should not be confused with Accounts Payable (AP). However, using economies of scale, the process may differ for large and small firms.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables AR 52

AvidXchange

MAY 7, 2019

Associations and property management organizations are focused on growth and revenue to keep up with demand for more commercial and residential properties. But they are also juggling the cost of maintenance, leasing, inspections, evictions and more on a daily basis, making it difficult to forge the right path toward that long-term growth.

AP 40

AP Accounts Payable Accounts Payable Invoicing 40

AvidXchange

AUGUST 9, 2018

Accounts payable automation is just one of the technology trends saving the construction industry with improved payment visibility and mobility without additional labor. Modern accounts payable systems use advanced matching and digital payments to automate payment processes. Invoices would arrive in the mail from suppliers.

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

APRIL 20, 2021

The purpose of our survey was to find out how these groups have been progressing in their use of accounts payable (AP) and accounting software and the challenges they’re facing with financial transactions and business projects during the pandemic. Participating members included HOA board members and property management professionals.

AP 52

AP Invoicing Accounts Payable Accounts Payable 52

AvidXchange

APRIL 12, 2018

For the accounts payable (AP) department, there’s the added stress of managing payment processes that ultimately impact the bottom line. From invoice entry to cash flow to month-end closing, every part of the AP process impacts spend and budget. Manual invoice processes leave AP staff buried in paper.

Accounts Payable 52

Accounts Payable Accounts Payable AP Invoicing 52

AvidXchange

AUGUST 25, 2022

For AP professionals looking to increase their company’s revenue while reducing their costs, procure-to-pay software allows them to manage their expenses more efficiently. Everything comes at a cost. In the B2B world, this is known as the procure-to-pay process. Table of Contents What is Procure-to-Pay? What is Procure-to-Pay Software?

Purchase Order 52

Purchase Order Budgeting Invoicing AP 52

AvidXchange

APRIL 13, 2021

For most finance departments, invoice approval workflow automation isn’t the next big thing. Approval administrators like Cindy Romeis are happily trading in antiquated approval workflows for invoice workflow automation. Since those days, she’s adopted invoice workflow automation to ease the pains of payables. It’s the new norm.

Invoicing 40

Invoicing Accounts Payable Specialist Purchase Order Accounts Payable 40

AvidXchange

JULY 10, 2017

At AvidXchange, we pride ourselves on creating a work environment that facilitates personal growth and inspires innovation while serving more than 5500 clients throughout North America. What does AvidXchange do? Why Do You Enjoy Working at AvidXchange? It’s a true open-door policy.”

Accounts Payable 52

Accounts Payable Accounts Payable AP Financial Services 52

AvidXchange

MARCH 23, 2023

These companies experience unique challenges and advantages we don’t often hear about in the mainstream media. Enter the National Center for the Middle Market (NCMM). Or listen to the full episode now: Why the Middle Market? Farren shared a bit about the NCMM’s mission to support middle market companies through education and research.

Collections 52

Collections AP Budgeting Accounts Payable 52

AvidXchange

AUGUST 20, 2018

AP Automation: The Bottom Line Project managers, controllers, and CFOs can all benefit greatly from accounts payable and payment automation , saving time and increasing productivity in the process. Officials warn that the number of skilled workers is dwindling and will continue to do so for the foreseeable future.

Accounts Payable 40

Accounts Payable Accounts Payable AP Computation 40

AvidXchange

MARCH 1, 2024

Wondering, “What is AP automation?” Need an AP Automation 101 course? In this article we’re going back to basics, explaining what AP automation is, how it differs from manual AP processes and what benefits AP departments can expect from automating. No time to read? No problem.

AP 52

AP Accounts Payable Accounts Payable Purchase Order 52

MineralTree

FEBRUARY 1, 2024

It’s almost four years since COVID first appeared, and AP teams are still pressured to get more done despite fewer resources and persistent challenges. Yet, it also underscored the critical role that AP plays in enabling prompt vendor payments and strengthening relationships to keep goods and services flowing during supply chain volatility.

Accounts Payable 74

Accounts Payable Accounts Payable AP Accounting 74

Cevinio

NOVEMBER 17, 2023

How AP Automation proves the case for Shared Services Shared services are a tried and trusted way of consolidating a wide range of services across a business to introduce operational synergies and bear down on costs. This passive view of shared services is a barrier to renewal and innovation. What is a Shared Service Center (SSC)?

AP 100

AP Invoice Processing Accounts Payable Accounts Payable 100

AvidXchange

OCTOBER 18, 2023

And before we had automation set up, onboarding a new property was a huge, stressful hassle,” Scherer said. Adding to the challenge, Scherer and the rest of her AP team work remotely. It would just take hours to get through all the invoices. Additionally, Security Properties Residential implemented AvidPay for automatic bill pay.

AP 52

AP Invoice Processing Invoicing Accounts Payable 52

Nanonets

SEPTEMBER 12, 2023

  In sharp contrast, automated invoice processing could reduce the cost to $1.42 In addition to cost reductions, automation can help mitigate fraud risks and provide increased visibility into cash flow trends.  This automation can improve the speed and accuracy of invoice processing and simplify compliance.

AP 52

AP QuickBooks Invoicing Data Entry 52

Invoicera

MARCH 6, 2024

This blog offers an all-encompassing guide to: The critical role of financial handling Selecting the best tools, like Invoicera and Zoho, for the job A deep dive into what makes these tools indispensable Bonus tips for making intelligent financial decisions Dive in for a concise journey to financial prowess. So, let’s begin!

Expense Reports 52

Expense Reports Invoicing Billing Petty cash 52

AvidXchange

AUGUST 17, 2023

Now, they help businesses in the industry implement technology to effectively streamline and scale operations. Below is a summary of their conversation. Additionally, leveraging automation tools with embedded business intelligence solutions help inform decision-making and ease reporting. But you still need that extra support.

AP 52

AP Budgeting Accounts Payable Accounts Payable 52

Nanonets

MAY 31, 2023

Automated invoice processing is the process of seamlessly extracting data from invoices entering your system and pushing it into your ERP so that processing a payment can be done in just a few clicks. This blog is a comprehensive overview of the latest technologies that can enable you to do that.

Invoice Processing 52

Invoice Processing Invoicing Data Entry AP 52

MineralTree

JUNE 15, 2023

However, to fully leverage the benefits of NetSuite, it’s crucial to integrate it with other applications such as an accounts payable (AP) automation tool. In this blog, we’ll provide a comprehensive guide to integrating NetSuite with an AP automation platform. What is NetSuite?

AP 75

AP Accounts Payable Accounts Payable Invoicing 75

Invoicera

DECEMBER 21, 2023

Looking for cost-effective FreshBooks alternatives? Although FreshBooks has been a choice for many, it is always better to get software within your budget. A study has also found that over 40% of small businesses switch their financial software within the first two years. Thus, many invoicing software options are available in the vast market.

Invoicing 64

Invoicing Billing QuickBooks XERO 64

AvidXchange

SEPTEMBER 21, 2021

Now it’s time to protect your business from future disruptions so you can focus on accelerating growth. We want to help answer this question and share ideas for how you and your company can utilize accounts payable (AP) automation to come out stronger in the days and months ahead by thinking about these changes and opportunities in new ways.

AP 52

AP Invoicing Computation Billing 52

AvidXchange

NOVEMBER 10, 2021

These frenetic and unusual circumstances drove the rapid use of second-layer, add-on technologies – many powered by automation. Automation became so pervasive it emerged as arguably the single most important trend in the real estate industry during the health crisis. The situation was urgent.

AP 52

AP Accounts Payable Accounts Payable Financial Analysis 52