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...
Almost 4 out of every 5 finance leaders in the U.S. and U.K. believe their firms’ accounts payable (AP) operations can’t sustain continued growth, with many of them blaming inefficiencies from the use of manual processes, which they say are also leading to fraud and...
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,...
Many businesses are implementing automation and digitization to reduce the amount of money, time and employee effort they expend on their accounts payable (AP) processes. Goals vary, with 61% of CFOs saying their primary objective in automating is to boost overall payments efficiency, while 45%...
Medius, a Swedish provider of accounts payable automation systems, on April 20 announced a new program to ease collaboration with independent software developers. The program is called Radius, and Medius stated in the announcement that the first company engaged through it is expense-management specialist Rydoo....
March and the end of the first quarter are but a memory, but chief financial officers (CFOs) are still recovering. Closing the books can be a monthly ordeal for finance executives, beset by paper and manual processes. The frictions are heightened at the end of...
Small- to medium-sized businesses (SMBs) and the accounts payable (AP) and accounts receivable (AR) executives that manage the payments and invoices that they receive know they would benefit from streamlined payments processes — but the pathway to frictionless payments is not well understood. While most...
