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Expert insight for financial professionals
Expert insight for financial professionals
Artificial Intelligence (AI) is no longer a luxury—it’s a minimum requirement for businesses that want to stay ahead. Relying on manual Accounts Payable (AP) processes isn’t just inefficient; it’s a costly disadvantage.
Read morePre-approved spend is a process that empowers specific individuals, departments or teams to take greater control of their spending while still complying with established procurement procedures.
Read moreThe foundations for your business relationships with suppliers are established during the supplier onboarding process. Certain strategies should be adopted to establish amicable and successful business relations with suppliers during the onboarding process.
Read moreMaverick spend is an expense that results from purchases made outside of corporate guidelines and adopted procedures. It can be accidental or intentional and typically occurs when an employee unilaterally purchases a product.
Read moreNearly every company that is currently using manual AP processes can realize large benefits from incorporating AP automation software into their systems. However, how does a business know if they are ready to make the leap to AP automation software?
Read moreContract matching, found within many contract management systems, is a transformative tool that allows organizations to automatically match invoices that they receive for regular and predictable payments to an underlying contract.
Read more2-way matching is essentially a simplified version of 3-way matching. Ultimately, deciding to use a 2-way matching system is simply a matter of your company’s needs. When weighing your options, look at the types of goods or services you need.
Read moreStraight through processing may mean different things to different people in different contexts. But to most, straight through processing means eliminating all invoicing exceptions and the related labor for 100 percent of a company’s procurement activity.
Read moreThe future of AI in procurement has limitless potential. Whether you want to automate mundane tasks, detect fraud or keep up with the latest trends in your industry, AI lets you reach your short- and long-term goals.
Read moreWhy do some businesses view AP as a profit center? Could your firm be missing out on the benefits? Here's what you should understand about transforming AP's reputation in pursuit of lasting gain.
Read moreUnderstanding not just how the implementation of procure-to-pay software can succeed but why it can sometimes fail can go a long way towards avoiding some of the most common pitfalls that companies often encounter.
Read moreThe characteristics of the future CPO will be drastically different to those of the past, with a focus on leadership, technology, market expertise and cost reduction central to the role.
Read moreGetting your workforce to embrace change can often be one of the biggest barriers to procure-to-pay automation. Fear of change, however, can often be brought on by a lack of knowledge. Educate your employees and present the opportunities that it can bring.
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