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EDI is Growing in Popularity – Is Yours Giving You Headaches?
Electronic data interchange (EDI) allows exchange of electronic format documents between computers. Rather than sending paper back and forth, this allows different businesses and/or departments within a business to exchange electronic files directly. With an EDI for your accounts payable […]
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Are You Having Trouble With Your Business Processes? Maybe It’s Time To Automate Them
Many organizations struggle to manage their core business processes. A 2015 study by Tipalti, which polled 100 senior finance decision makers and executives, found that “51% were dissatisfied with the processes they use to pay their suppliers.” And the problem […]
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Avoiding Purchasing Pitfalls: Procurement Management Practices
The success and effectiveness of most departments in your company rely on your procurement management strategy. This holds true no matter what type of business you’re in. Manufacturers need to ensure that they have enough inventory to produce at expected […]
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What Does It Mean To Change Your Spend Culture?
How do you deal with uncontrolled spending? Managing spend is a huge problem for companies. Unfortunately, many don’t find out just how much of a problem it can be until ridiculously high numbers start coming to light in company expenses. […]
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Does Robotic Process Automation Take Jobs Away From Real People?
One of the biggest concerns that people have about Robotic Process Automation (RPA) is that it will take jobs away. And it’s a valid concern. At the surface, it looks like the whole point of RPA is to create robotic […]
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Pros and Cons of Business Process Outsourcing (BPO)
Businesses are always seeking ways to adapt, stay competitive, and cut costs. One way to do that in the modern business world is using business process outsourcing (BPO). It’s something that’s easy to do and, as a cost-saving measure, BPO is […]
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Lean vs. Agile: Understanding Supply Chain Management Strategies and Finding One That Works For Your Business
When we talk about supply chain management strategies, there are two key approaches to understand. Lean and agile supply chains are often pitted against each other as an either-or option. There are pros and cons to each, and you’re expected […]
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How To Set Up A Purchase Order System For Large Organizations
The larger an organization grows, the more important it becomes to keep track of purchasing. A poorly functioning purchase order (PO) system or, worse, no system at all will result in purchasing problems that cost your company money. And since […]
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Top 10 Reasons Why Using Robotic Process Automation For Data Entry Is The Right Choice For Your Business
There’s a big push to automate as many business processes as possible. Not only is automation a significant time-saver, it also saves companies money. Things like accounts payable automation make business processes faster, more accurate, and more secure. But sometimes, […]
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10 Essential Tips For Improving Cash Flow In Your Company
Improving cash flow is a big help no matter what type of business you’re running, how long the company has been around, or what size of company it is. Every business faces the challenge of managing cash flowing in and […]
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Do You Need To Change The Way You Approach Cash Flow To Avoid Shipwrecking Your Company?
When you’re navigating the stream of cash flowing in and out of your business, it’s easy to run into problems. Cash flow issues plague companies of all sizes and eat away at the bottom line. But they’re not inevitable. And […]
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What Does Accounts Payable Workflow Automation Look Like In Practice?
Are you happy with your accounts payable workflow? If you’re still on a paper system, chances are that you can point out some inefficiencies in the way your organization processes invoices. Your accounting department is doing the best it can, […]
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