Blog
How AP Automation and Virtual Cards are revolutionizing AP
Every company has an accounts payable or AP department. If you don’t have a separate AP department, then all the responsibilities are handled by the finance department. The AP department is responsible for maintaining the payment with vendors from whom you procure...
IT Vendor Management Best Practices
IT vendors are an essential part of IT operations and the lifeblood of your business. If you want to make sure they're performing at their best, it's important to have a well-defined vendor management process in place. When companies set out on this journey, they...
A Complete Guide to Vendor Management
If you've been in business for any period of time, you know that finding and managing vendors is an integral part of running your company. It can also be a headache if you don't have systems in place to ensure that your vendors are properly vetted. Luckily, there are...
Techniques to Improve your Vendor Management Strategy
Working with third parties is one of the most important aspects of managing a business. However, it can be difficult to do this effectively without a good vendor management strategy in place. Here are ten techniques that will help improve your vendor management: Do...
Why should we switch to an automated AP system?
The approach of handling accounts payable processes digitally using technology is called AP automation. It allows receiving invoices, managing the approvals, and processing payments via a single platform. This digital system eliminates the need for human involvement...
What You Should Know About Vendor Management in 2022
Vendor management refers to the procedures that businesses employ to oversee their sources, often known as vendors. Evaluating vendors, negotiating deals, managing prices, decreasing vendor-related liabilities, and assuring the provision of services are all part of...
Why and When Should You Use Blanket Purchase Orders?
A blanket purchase order (BPO) is a long-term contract between an organization and a vendor to supply services or goods at a predetermined fee periodically for a certain length of time. Establishing a blanket purchase order with the specifics, such as cost and...
SWIFT Is Experimenting With Decentralized Technologies
SWIFT was founded in 1973 to facilitate cross-border fund transfers through financial messaging services. The platform was like a messaging service for member banks where they could share information about cross-border fund transfers. The system works on centralized...
Does Blockchain’s Popularity Mean The End Of SWIFT?
Cryptocurrencies based on blockchain technology gained clout among the millennials because of the promise they brought for a better tomorrow. One of the primary reasons behind the popularity of blockchain systems is the decentralized ledger technology that disrupted...