Inefficient invoicing systems in the construction industry can mean missed deadlines, cost overruns and schedule delays. In the "AP Automation Tracker," Shep Hickey, CEO and founder of online steel marketplace Bryzos, explains the role of automated invoicing in adding transparency, cost efficiency and accuracy, while...
While many businesses have fully digitized their consumer-facing operations, they still have a lot of work to do in transforming their business-to-business (B2B) processes. A recent report estimated that companies and their business partners exchange more than 550 billion invoices annually — a number set...
Capital management is a constant challenge for all types of businesses, requiring them to invest vast sums to manage cash flow, accounts payable (AP), accounts receivable (AR) and other related tasks. Problems range from incorrect invoices to lack of cash on hand to late payments,...
Where paper checks and manual processes are the best-known sources of payment errors and bottlenecks, AP automation is increasingly coming to the rescue. In the “AP Automation Tracker,” Tanner Busby, finance director of Procure to Pay strategy for Microsoft, explains how companies are saving time,...
January 10, 2022
Manual invoices continue to be a pain point for many businesses. They tend to be costly, inefficient and prone to human error, and the pandemic has only exacerbated many of these issues. Organizations that previously compensated for the shortcomings of their manual systems are now working fast to automate their accounting systems as many offices […]
