Accounts payable is often the stepchild of a company’s accounting and finance department. After all, its main function (perceived function, at least) is to send money out of the company. At best, unfailing scrutiny of invoices can prevent duplicate charges
Any business organization—and we can extend that to include non-business entities such as nonprofits and educational institutions, and even government—have two basic processes that are fundamental to their operation: revenue and expenses, or “money in” and “money out.” Management typically
On multiple occasions we have discussed the advantages of accounts payable automation. Yet you may still be unclear regarding exactly what that means for your business in practical terms. To provide a clear understanding of the benefits, we would like
The accounting department is an invaluable part of any business. Its members may not always be the most popular employees, especially when it’s time to approve invoices or expense or submit next year’s budget, but ultimately, they are guarding the
The decision to use an outsourced accounts payable provider should be based on the careful consideration of key business needs, such as improvements in record keeping and accuracy, reduced cost, better capture of early payment discounts, and fewer errors. Yet
You may already be convinced that an outsourced accounts payable solution is the right answer for your business. With so many options available, though, it can be challenging to decide on a specific solution. To guide you, let’s consider three
Accounts payable solutions in recent years have emerged further thanks to cost optimization rationales, big data concepts, advances in mobility, data mining & cloud technologies, emergence of multiple payment channels, enhanced automation capabilities and growing awareness of green CSR initiatives.