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Category: Accounts Payable

Overcoming Resistance to Accounts Payable Automation

AP automation offers many benefits, such as reduction in human intervention, reduction in processing and approval time, improved accuracy as well as improved visibility to the entire Accounts Payable process. In spite of the benefits, some companies struggle with the decision to automate their processes and sometimes the biggest challenge they face when it comes […]

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Take Advantage of Early Payment Discounts with AP Automation

Some companies offer early payment discounts to encourage customers to pay their invoices on time. One common early payment vendor discount is the “2/10 net 30,” which means a payment due in 30 days can be reduced by 2% if paid within ten days. Usually, it makes sense to take advantage of these discounts depending […]

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Implementing a Centralized Accounts Payable

Controlling Accounts Payable operations across multiple locations is a real challenge for many companies. The challenges escalate when the company is in a growth phase. With more locations, more vendors to pay and more customers to invoice and collect from, companies often operate in a decentralized model, managing receipts and payments from each location. This […]

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Determining the Costs to Process an Invoice Without Automation

The average cost to process an invoice manually has been pegged at between $15 and $20 by various studies, and polls of a sample of Octacom’s clients. This, of course, depends on whether line items are captured and costs, proportion of PO vs. non-PO invoices, and whether 3-way matching is a part of invoice processing. […]

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Top 4 Benefits of Accounts Payable Automation

Accounts Payable invoice processing is a mission-critical part of an organization’s daily financial operations, but it is also a non-core function that can require significant investments in people. In addition to being costly, AP invoice processing and approval related tasks are incredibly time-consuming. Accounts Payable Automation helps to improve performance and allows your company to […]

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Savings with Accounts Payable Automation

Through its extensive and comprehensive approach, the legal industry often necessitates copious mountains of paper usage. Due to various acts and bylaws focused on record retention, legal professional quickly find themselves surrounded by this paper.

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New Year’s Resolution: Digitize your AP Documents

The beginning of a new year is the perfect time to review your company’s processes and see how they can be made more efficient. One of the best places to start is by reviewing your accounts payable processes. The accounts payable department is essential to keep your company running smoothly. In today’s business world, improving AP […]

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Vendor-portals-and-AP-Invoice-processing

Vendor Portals: Improve AP Invoice Processing for Your Enterprise

Leveraging vendor portals is a simple way to improve invoice processing for accounts payable as well as streamlining the reconciliation and charting from AP books.

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The Transformative Benefits of AP Outsourcing

5 Important Benefits of Accounts Payable Outsourcing

Outsourcing accounts payable tasks has become a popular, and sometimes necessary, option in maintaining an organized and balanced book.

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How a Vendor Portal Slashes AP Costs

Using a Vendor Portal will not only reduce your costs but will also have a positive impact on your vendor relations and improve productivity of your existing staff.

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Thought Leaders: What Was Your Company’s Biggest AP Problem, How Did You Solve It?

Thought Leaders: What Was Your Company’s Biggest AP Problem, How Did You Solve It?

We spoke with leaders in a variety of fields to talk about what they identified as their biggest AP problem, and the steps their organization took to resolve the issue.

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Word blocks spelling the word portal

Vendor Portals: The Future of Accounts Payable

Discover the benefits of a vendor portal, and how it can save your AP department countless hours and a great deal of lost productivity.

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Hand writing "time to cut cost"

Invoice Processing Trends for Businesses

How businesses are processing invoices in today’s world. How are Canadian businesses starting to change the way they operate?

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Accounts Payable Automation

With imaging routing, all your invoices are collected and sorted, opened, scanned, validated, and made available for importing directly into your accounting software.

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When AP Automation Goes Wrong

Performing in-house AP automation often causes more problems than it solves. This article discusses why outsourcing is a far better option for your business. Read more.

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Why outsource AP automation

AP Automation: 5 Reasons Why You Should Outsource

Why outsource your AP automation? Here are 4 reasons that will surely convince you.

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