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As back-office processes like accounts payable are evolving to become more of a value driver in a data-driven world, a sluggish accounts payable process is a serious handicap for any business. Whether you are just getting started in a new business or looking to enhance an aging process, this post will help you think about how to create a more efficient AP process.
In the world of business, understanding your expenditures is crucial. One of the costs that can often fly under the radar is the price of processing a purchase order (PO). While it might seem like a negligible expense, it's important to remember that small costs add up, especially when you're dealing with a high volume of orders. In this blog post, we'll break down the average cost of processing a purchase order and discuss strategies for reducing it.
We're back from ExpensiCon in Italy with thoughts on Expensify's future and the future of spend management; a report from Kristen Keats at Accounting Today's Firm Growth Forum conference; ChatGPT coming soon to a Wendy's drive-thru near you! Sponsors CCH Access - [link] SuiteFiles - [link] Client Hub - [link] Chapters (00:25) - Every Payment Is A Conversation (01:11) - Blake and David are back from Italy (05:01) - Let’s talk about ExpensiCon (10:09) - The original Expensify and ExpensiCon (12:36
In a rapidly evolving digital world, the boundaries between industries are becoming increasingly blurred. Today, traditional sectors like accounting, finance, and business support are intersecting with the vibrant sphere of digital media, bringing new opportunities for collaboration, innovation, and cultural exchange. Nowhere is this more evident than in the surprising synergy between business outsourcing and local radio networks, such as NagasakiFm.net , which has become a digital hub for cultu
The office of the CFO is rapidly evolving, with more and more demands being placed upon the finance and accounting team each year. Join us in this webinar, where we share 8 things to NOT do when it comes to helping the CFO office advance in supporting the business. Learning Objectives: This course objective is to understand how best to support an organization's finance leadership.
It’s often said that (almost) no one goes into business to do their own accounting. So it’s no surprise that many entrepreneurs lean heavily on a trusted advisor for support, particularly around busy times like EOFY when tax, compliance, payroll and other business obligations come into play. For those on the Xero platform, collaborating with your accountant or bookkeeper is simple via the cloud.
It's summertime at AccountingDepartment.com and we have all sorts of fun things happening! To kick off the summer season this past Memorial Day weekend, we launched our 12th annual ADC Summer Challenge.
Intuit products are more than web, desktop, and mobile applications. We build the products that enable people to live independent lives. They manage their finances, start businesses, hire employees, and develop their careers. We’re also committed to making sure they feel safe, accepted, and understood in the process. As global co-leader of our employee resource group the Intuit Abilities Network, Lou Shelley is on a mission to create a stigma free environment where our workers bring their true s
Intuit products are more than web, desktop, and mobile applications. We build the products that enable people to live independent lives. They manage their finances, start businesses, hire employees, and develop their careers. We’re also committed to making sure they feel safe, accepted, and understood in the process. As global co-leader of our employee resource group the Intuit Abilities Network, Lou Shelley is on a mission to create a stigma free environment where our workers bring their true s
Accounts payable departments are an essential part of any organization, ensuring that suppliers and vendors are paid accurately and on time. However, the traditional paper-based invoice processing method is prone to errors, delays, and high costs, making it inefficient and time-consuming. Fortunately, advancements in technology have led to the development of automated AP workflow solutions that can streamline the accounts payable process and eliminate the need for manual intervention.
Emerging technologies such as artificial intelligence and machine learning have transformed the traditional finance function by making processes efficient, improving accuracy, and enabling data-driven decision-making. According to a Forrester survey, 98% of financial institutions believe that AI and ML can give them an edge and improve how they do business.
Zamp's team includes former state auditors, sales tax experts, research specialists and first employees of Stripe-acquired TaxJar & Vista-acquired Avalara.
There are plenty of positives to owning a small business – flexibility, being your own boss, financial benefits, and many more. But, it’s no secret there are challenges too. And small business owners have had a particularly tough few years: navigating a global pandemic, various lockdown restrictions, staff shortages, increasing costs of raw materials, and high inflation.
Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant
Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.
In today's fast-paced business environment, organizations must leverage the right tools and technologies to stay competitive and achieve sustained success. Efficient management of enterprise resources is critical for smooth operations and growth.
Customer obsession has always been one of Intuit’s core values. While Intuit prides itself on creating innovative products and services, our touchpoints leave us with a partial view of the real-life challenges small businesses face. In April 2019, the Adopt a Small Business program began. In this program, small groups of Intuit employees volunteer to adopt a QuickBooks and/or Mailchimp customer for two months, getting to know the ups and downs of running a small business while using our products
For businesses that rely on manual invoice and payment processing, the cost savings and efficiency gains of implementing an automation solution can be significant. By automating AP processes, companies can reduce time spent on manual processing and processing costs, while improving accuracy and reducing the risk of errors.
Speaker: Jason Chester, Director, Product Management
In today’s manufacturing landscape, staying competitive means moving beyond reactive quality checks and toward real-time, data-driven process control. But what does true manufacturing process optimization look like—and why is it more urgent now than ever? Join Jason Chester in this new, thought-provoking session on how modern manufacturers are rethinking quality operations from the ground up.
With the cost of living continuing to rise, putting pressure on many households, it’s timely for small business owners to think about consumer confidence. Consumer confidence is an important economic indicator for small businesses that mainly sell to households, because “consumers” is really just another word for your “customers” Looking at the most recent figures, the OECD Consumer Confidence Index remains below 100 in Australia, Canada, New Zealand, South Africa, the
Our AccountingDepartment.com family is proud of its vibrant and diverse “cast of characters”—we span the country with our team members coming from all backgrounds and personalities. Included among our team are some amazing Military Spouses whose hard work, dedication, and contributions are part of what makes our family so strong—and theirs as well.
What was the most impactful thing you learned in high school? For students at the Marvin E. Robinson School of Business and Management (SBM), that answer changes weekly. With a curriculum designed around business education, this Dallas, Texas high school is on a mission to create the next wave of executives and entrepreneurs. As a participant in our Prosperity Hub School District program with a thriving media department, we were honored to donate a sound-proof recording booth to the students and
The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.
As a critical function of any business, Accounts Payable (AP) is responsible for managing the company's financial obligations to its vendors, suppliers, and creditors. Whether you are a seasoned accounting professional or a new entrant into the field, understanding the terminology associated with AP is essential. We have compiled a comprehensive glossary of Accounts Payable terms to help you navigate this critical area of business finance.
Gone are the days of manually recording financial transactions in ledgers and spreadsheets. With the latest technology, bookkeeping has become significantly easier and more efficient. One of the most significant benefits of technology in bookkeeping is the ability to automate processes. The software can automatically record transactions, generate invoices, and create financial reports.
In just a few months, we’re heading back to Sydney’s iconic Darling Harbour for Xerocon 2023! On 23 and 24 August, we’re bringing our partner community together from across the globe for two inspiring days. So what can you expect? As the world’s most beautiful and innovative conference for cloud accounting leaders, this is your opportunity to see world-class speakers and entertainers, hear thought-provoking updates from Xero’s leadership team, and take home practical learnings from the Xero show
Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.
Last week, AccountingDepartment.com Business Development Representatives, Shawn Marcum, and Luke Backus attended the 2023 Women President's Organization Entrepreneurial Excellence Forum in Las Vegas, NV.
When AI became an established field in the 1950s, it lived in the R&D labs of universities and government agencies. When it started being commercialized some 50 years later, it still had a lab-like existence, accessible to a small number of scientists with specialized training. But today, the lab walls are coming down. A developer no longer needs a Ph.D. to create meaningful solutions with AI.
Accounts Payable (AP) automation is revolutionizing the way businesses manage their invoice and payment processes. By replacing manual tasks with automated systems, AP automation can generate significant cost savings and efficiency improvements. But what do these savings look like in real terms? This blog post delves into the research and survey data to provide a comprehensive picture of the cost benefits of AP automation.
Here is my complete guide to emerging accounting technologies for 2023. In this guide, you’ll learn about the top accounting technology in the profession along with some tips and tricks on how to leverage them. So if you’re looking to leverage software to automate your accounting work, you’ll love this guide. Let’s go! Table of Contents Cloud Computing Artificial Intelligence & Machine Learning Optical Character Recognition Robotic Process Automation Blockchain Big Data The Metaverse Mobile
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There’s now a little over two months to go before old reports in Xero are retired. Over the past year, we’ve been encouraging you to make the switch, with lots of education, support and advice from other small business owners and their advisors. If you’ve waited until now to start using new reports, you’ll have less time to make the switch. We urge you to start focusing on this, to avoid any disruption to your workflows.
Experienced business leaders know that accurately predicting future financial outcomes is a highly complex challenge. It’s a process not to be left only to logic that is based on reviews of combined financial reports from the past.
Senior software engineer, Atia Hashimi, joined Intuit in 2019. While pursuing a master’s degree, she started working with Android applications and fell in love with mobile app development. Now, as a member of the QuickBooks Live Mobile team, she’s leading and driving tech initiatives. What did your life look like prior to joining Intuit? I was born in Afghanistan.
You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.
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