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What are invoice approval workflows and how can they be optimized?

Cevinio

From automating approvals to pinpointing crucial triggers, we’re here to guide you through the essential steps of invoice approvals. Definition of the invoice approval workflow An invoice approval workflow is a standardized procedure that businesses put in place to review, verify, and approve invoices before making payments to vendors.

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Your Guide to Accounting APIs 

AvidXchange

According to Amazon Web Services , APIs are mechanisms that enable two software components to communicate with each other using a set of definitions and protocols. API stands for application programming interface. APIs are essentially intermediaries, enabling systems to request and exchange data or functionality.

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Key Benefits of e-Invoicing: Reducing Errors and Invoice Frauds

Invoicera

Unique Identification (IRN): The e-invoice is issued an Invoice Reference Number (IRN) for each invoice, which simplifies the task of tracking invoices and reducing fraud threats such as duplicate or modified invoices. It includes invoices dublets or new patterns of billing that can be considered scams.

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Accounting Automation: How Your Firm Can Automate Key Tasks

Jetpack Workflow

Accounting automation is the use of software and other technology to automate accounting processes especially repetitive tasks like data entry, invoice processing, and some aspects of cash flow monitoring. While automation wont replace every manual task in your accounting system, it will definitely streamline them.

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Twelve Months of New Features: a 2023 Recap

Compleatable

Another big one from this month was an update to ordering; when an invoice is linked to an order with multiple linked invoices, you can now easily view them all from the invoice summary screen. Time savings wherever possible is definitely something to celebrate! And here we are in December.

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E-invoicing? We already do this don’t we?

AP Association

According to a Billentis report in 2017, 90% of invoices worldwide are still processed manually. Even where organisations have made progress by receiving invoices as pdf email attachments to reduce paper and processing times, it is not without issues.

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What Is Consolidated Billing? Best Practices & Benefits Uncovered

Billing Platform

What to Consider if You’re Considering Consolidated Billing While the consolidated billing definition makes it appear straightforward, it’s more than just consolidating customer invoices into a single bill. So what do you need to know before deciding if it’s the right move for your organization?

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