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The Pros and Cons of Outsourcing Your Accounts Payable
Each day, the business world gets more competitive. In such an environment, your company needs a way to improve your services and stand out from the competition while also cutting costs. Outsourcing accounts payable is a viable solution for companies […]
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The Power of Using Metrics To Monitor Capital Expenditure Planning
Making decisions about capital expenditures without having a plan is a recipe for disaster. If you’re going to manage capital projects and stay within budget, you need to set goals and take time for planning. That’s something we can all […]
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Workflow That Works: This Is Why You Want To Improve Your AP Processes
Accounts payable might not have the exciting revenue increases of sales or the fashionable benefits of new product research. But it’s certainly an important part of your organization. A well-managed AP department can nurture positive vendor relationships, flexible payment terms, […]
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How Much Do You Need to Worry About AP Fraud? 5 Key Factors To Consider
Fraud isn’t something we like to think about. We’ll put controls in place to prevent it, of course, but unless fraud actually causes a major problem for our companies we’d rather let other people worry about it. But if you’re […]
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5 Painless Steps To Create An Effective Vendor Compliance Policy (And Why You Should Bother)
Maybe you’ve never thought about creating a vendor compliance policy. You place an order, the vendor delivers it. Pretty simple most of the time. You’ve got purchase orders to provide legal documentation if there’s a problem with the order and […]
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Want To Integrate Your ERP System With AP Automation? Here’s What You Need To Know
Enterprise Resource Planning (ERP) systems are the repository for all your company’s financial data. This makes them incredibly important as a fundamental part of your accounts payable (AP) process. When you’re upgrading to AP automation, it’s vital that you consider […]
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10 Disturbing Accounts Payable Issues That Will Sink Your Company
You’d be hard-pressed to find a business that doesn’t struggle with keeping people on top of their IOUs. Managing the accounts payable department is an overwhelming task. Not only are AP employees swamped with work, but there are also plenty […]
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5 Ways That AP Automation Helps Accountants and Strengthens Your Business Process
The finance department has more than enough to worry about for most companies. Their needs are hugely important to the success of any business, not to mention to avoiding liability from bad accounting practices. But in spite of their unquestionable […]
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The 5 Things About Accounting Fraud That You Need to Know
Every company combats fraud. If your organization hasn’t yet been a target for fraud, it’s probably just a matter of time. Whether it’s internal embezzlement and purchasing fraud, fraudulent financial reporting, or attacks on the AP department, fraud represents a […]
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10 Most Costly Procurement Mistakes and How to Avoid Them
The effectiveness of your company’s purchasing ability depends on your procurement system. An inefficient system leads to a whole host of common procurement and purchasing problems. Thankfully, these mistakes aren’t all that difficult to correct. The most common procurement mistakes […]
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The Best Way To Improve Accounts Payable Key Performance Indicators
If your company is like most, then Accounts Payable could use some improvement. In some companies, it’s one of the hardest departments to optimize. And even when the AP department is running well, there are still at least a few […]
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7 Best Practices That Impact Accounts Payable Automation
All around the world, mistakes happen in accounts payable departments every day. And since the AP department governs money leaving the company, that means companies are losing money every day. The good news is that most of these mistakes are […]
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