A manual accounts payable process can be time-consuming and susceptible to mistakes. Continuing to work through stacks of invoices, personally contacting approvers, and mailing checks is time-consuming, exposes the organization to fraud, and makes audits difficult....
Are you a small business owner? Are you tired of managing your business processes manually? No need to worry anymore. Now you can simplify them, organize them and make them more efficient with the help of AP automation tools. These tools also help you accurately...
In today’s market, transparency is very highly valued. In an accounts payable department, efficiency is of utmost importance, but so is transparency. It ensures that everyone who needs to know about the data gets to know about it. While that is a simple explanation,...
Accounts payable processes are daunting and complex at their best; manually processing your invoices can take weeks, and sometimes even months. Manual processing also opens the doors for blatant human errors, unauthorized payments, fraud, and theft. Fortunately, there...
If used properly, dynamic discounting can help businesses improve cash flow and establish beneficial relationships with their suppliers. A portion of vendors would have a higher demand for cash and could be more prepared to offer a concession in exchange for...
Managing vendors is as important as managing inventory in a business. As a matter of fact, both of these are closely interlinked, considering vendors are the people that help you fill out your inventory. That would be going off on a tangent, though, considering this article is going to talk about the top skills you require to be a cream-of-the-crop vendor manager.