Invoice Management: Streamline Your AP Process in Microsoft Dynamics GP With the latest news that Microsoft Dynamics GP is going to be supported by Microsoft for at least the next 7 years, now is the time to start thinking about how to optimize your GP software. Invoice management automation is a simple way to increase …
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Optical character recognition software can drive efficiencies in multiple departments, but in most cases there are other pieces you need to get the most value out of your data extraction technology. We are experts in accounts payable automation, so we will be mostly focused on optical character recognition for PDF and paper invoices. However, this …
Microsoft adopted a cloud-first model several years ago. Since then, they have released a barrage of new cloud products from collaboration and productivity suites like Teams and Office 365, to enterprise resource management like their Dynamics 365 offerings. With this major change, customers and partners have been wondering how long they can expect Microsoft Dynamics …
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What is Accounts Payable Automation for Multi Entity Management? For CFO's and other financial executives with multiple financial entities under a single umbrella multi-entity accounting software enables automated processes to improve accuracy and efficiency of accounting across entities--whether various departments or lines of business within a holding company, franchising organization or conglomerate. Particularly for companies …
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What does Accounts Payable (AP) Mean? The phrase Accounts Payable means the money a business owes to its vendors for supplies, utilities and other goods and services. Accounts Payable refers to short term debts. It doesn’t include notes payable liabilities which include long-term debts like business loans for startup costs, equipment financing and more. The phrase …
What is Invoice Automation? Invoice processing automation is technology used by businesses to pay their vendor invoices efficiently and streamline the entire accounts payable process. This technology extracts data from invoices, enters data into accounting software, routes invoices and payments for approval and posts the payment into the general ledger. Invoice automation solutions typically use …
Accounts Payable Automation ROI Calculator When evaluating an automation solution, tangible cost benefits are often difficult to quantify. There’s the obvious things, like reducing printing check costs, transitioning to ACH instead of checks, and the reduction of hard costs that relate to shipping, but many of the main benefits are more ‘soft costs’. I’ve had …
Odds are you have probably heard of ACH, but not all ACH services are equal and there is a big distinction between direct and indirect. For accounting decision makers, the ability to pay vendors directly through direct ACH services is a competitive advantage for accounts payables. So, let’s take a look at how direct ACH Transmission …
Whether or not accounts payable fraud has occurred in a business, companies of all sizes are vulnerable to it. Fraud can be committed by external parties or internal employees, and tight controls need to be in place to prevent it. According to a survey by the Association for Financial Professionals, 81% of organizations were targets of payments …
When figuring accounts payable overhead costs, you’ll have to consider the cost of processing each invoice. What does it cost to process your invoices, and how can you reduce that cost with AP Automation? Average invoice processing cost According to a survey by the American Productivity & Quality Center, businesses without automated invoice processing …
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