Don’t Do These 13 Things If You Want Your Business Process Automation To Be Successful

Business process automation

Business process automation (BPA) is a strategy that can yield tremendous results when implemented correctly. But despite the fact that many automation software providers have made their products easy to set up, some businesses are still getting it wrong.

How should you approach business process automation? What should you do and what should you not do? Who should be involved and why? If you find yourself asking any of these questions, read on. We’ve got you covered. Read more

How To Save Your Accounts Payable Team From Late Payments Once And For All

Late Payments

Your organization’s accounts payable (AP) operations can have considerable impact on your overall success. This means you should follow modern business practices in order to make a mark and stay ahead.

One such practice is to pay your vendors accurately and on time. Late payments can result in a number of problems, including: Read more

The Shocking Truth About Manual Invoice Processing

Invoice processing

Are you still dependent upon a manual system to process your vendor invoices? If so, not only does it mean your system is obsolete, but you’re simultaneously putting yourself and your business in a disadvantaged position.

Here’s the truth about manual invoice processing: this outdated methodology has been found to have over 101 weaknesses, and all of them contribute to a shockingly poor invoice processing experience. Chances are that if you’re still processing your vendor invoices manually, you are encountering these classic problems and harming your productivity. Below are some of the drawbacks associated with manual invoice processing techniques, an explanation of how such techniques have been undermining your accounts payable (AP) processes, and why you need to ditch them ASAP. Read more

7 Common Misconceptions About Workflow Automation

Accounts payable automation

There’s been a lot of talk lately about the power of workflow automation and what it can do for a business. However, some companies are reluctant to embrace this phenomenon.

Why would an innovative organization in the 21st century ignore a concept that’s easy to implement and yields tangible advantages? The answer has to do with common misconceptions and myths that have arisen over time. Read more

Duplicate Payment? Here’s How To Never Pay The Same Invoice Twice

Duplicate payment

Duplicate payment is a major financial drains facing organizations today.

When you accidentally pay the same invoice twice, you’re of course tossing money away unnecessarily. This eats into your margins and  inhibits your company’s financial progress. Who could ever stand for that?

In its 2014 annual report, the US Government Accountability Office (GAO) disclosed that it was involved in preventing such improper payments of $124.7 billion within just 22 federal agencies. The report is government-specific, but it tells the same story for business. Read more

Is One Of These 7 Accounts Payable Mistakes Holding Your Business Back?

Accounts payable mistakes

Accounts payable invoice processing may not be the most exciting task in the world, but it remains an essential one for every organization that wants to pay its vendors.

Without managing your accounts payable (AP) methodology effectively, you can too easily lose value on your team’s effort, mistakenly cost the company literal money, or even damage your professional relationships. Read more

5 Warning Signs That You’re Using An Inferior Invoice Processing System

Warning Sign

If you make regular purchases to facilitate running your business, chances are you have some vendors you have to pay.

You need an invoice processing system to pay your vendors efficiently.

“Invoice processing system” refers to everything that goes into the processing of invoices — the human input, the tools, and the process that takes you from capture to payment. Read more