Theresa Rago is the Finance Systems Manager at Starr Companies. Her AP department was processing the same client invoices again and again in the most repetitive and manual way. It was painful and a total waste of time. Without setting …
How to automate 2 or 3 way matching for accounts payable
3 way matching for accounts payable is the obvious ‘best practice’ move for large enterprises. But without the same resources, 2 way match during invoice processing is the better option for many accounting departments. Fortunately, both are ‘good enough’ for …
What is AP Automation?
AP Automation (Accounts Payable Automation) is a solution used by accounting teams to digitize and streamline the processing of purchase orders and invoices. AP Automation software uses advanced optical character recognition (OCR) technologies integrated with robotic process automation (RPA) software …
How Much Does AP Automation Cost?
How much does AP automation cost? That’s a great question. But every company and organization is unique, so the (somewhat frustrating) answer is: it depends. The best way to get a precise estimate of the cost is to request a …
Accounts Payable Department – Optimization Tips and Tools
Your accounts payable department is one of the most important back office teams. These teams make sure that only legitimate bills and invoices get paid accurately and on time. But what does an optimized accounts payable department look like? And …
5 Myths About Electronic Payment Processes – Debunked!
Electronic payment processes make some people nervous. They shouldn’t. But we live in an era when email accounts get hacked. People leak online health records. There are a lot of digital concerns. So, many business leaders find themselves nervous about …
Why Use an AP Automation Cost Savings Calculator?
An AP cost savings calculator is a tool that will help you determine how much your company or organization can save by implementing procure to pay (P2P) automation. But more importantly than that, it will help you calculate the ROI …
Accounts Payable Internal Control Checklist
An accounts payable internal control checklist allows you, as the CFO or controller of your organization, to achieve the goal of strong internal controls. Accounts payable is one of the most vulnerable areas for fraud for any business. And errors …
Overcoming Barriers to the Move to Electronic Payments
It’s time for your business to move to electronic payments. Consider this – there are many financial professionals today who’ve never used a paper check in their lives. Every purchase they make, from cars to groceries, are handled electronically and …
Move Beyond Paper Checks With Automated Electronic Payments
Let’s face it – paper is a thing of the past. Compared to automated electronic payments, paper simply cannot compete. Paper payments are more time consuming, take up space, and invite the dangers of inaccuracy, loss and fraud. Who wants …
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