According to one study, it takes approximately 11 days to obtain approval for one invoice. Inaccessibility to documents and reliance on informal systems such as emails and spreadsheets contributes to a slow processing cycle, which leads to delayed payments, late fees, missed early discounts, and strained relationships with vendors.
Articles By: Quadient Accounts Payable by Beanworks
The Most Shocking Tales of Finance Fraud in 2021
Incidents of scams have been soaring and fraudsters are becoming more sophisticated. Cases of attempted digital fraud rose by 25.07% in the first quarter of 2021.
Financial dashboards can drive transformation – here’s how
Lack of visibility into company financials interrupted forecasting and other accounting operations during the pandemic. It’s why 63% of accountants were working overtime, trying to keep processes running while working from home.
Is Your Accounts Payable in Good Health? Here’s How to Find Out
So you think your accounts payable (AP) is in a healthy state. But how do you know for sure? It is easy to assume that everything is fine if no one is complaining about late payments.
Digitizing Payments in a Hybrid World
2021 State of Accounts Payable study found that accounts payable automation is the top investment priority for 83% of 600 finance professionals.
Automated Expenses: The Benefits for Employees
It can take up to eight days to complete an expense claim when processed manually. Automation can reduce that time by almost 70%, giving greater speed, flexibility and efficiency.
Accounting Scandals Making Headlines in 2021
Do you rely on auditors to detect financial red flags at your organization? You might be surprised to learn that only 4% of fraud cases are detected by auditors, which means it is time to switch your focus to internal controls instead.
Too Many SMEs Rely on Manual Invoice Processing – When They Don’t Have To
If you are an SME, this picture may be familiar to you. Knowing that tools for accounts payable (AP) automation are designed for large enterprises - those with an annual …
Too Many SMEs Rely on Manual Invoice Processing – When They Don’t Have To Read More »
The Most Shocking Tales of Finance Fraud in 2021
Incidents of scams have been soaring and fraudsters are becoming more sophisticated. Cases of attempted digital fraud rose by 25.07% in the first quarter of 2021.
Financial dashboards can drive transformation – here’s how
Lack of visibility into company financials interrupted forecasting and other accounting operations during the pandemic. It’s why 63% of accountants were working overtime, trying to keep processes running while working from home.
Is Your Accounts Payable in Good Health? Here’s How to Find Out
So you think your accounts payable (AP) is in a healthy state. But how do you know for sure? It is easy to assume that everything is fine if no one is complaining about late payments.
Digitizing Payments in a Hybrid World
2021 State of Accounts Payable study found that accounts payable automation is the top investment priority for 83% of 600 finance professionals.
Automated Expenses: The Benefits for Employees
It can take up to eight days to complete an expense claim when processed manually. Automation can reduce that time by almost 70%, giving greater speed, flexibility and efficiency.
Accounting Scandals Making Headlines in 2021
Do you rely on auditors to detect financial red flags at your organization? You might be surprised to learn that only 4% of fraud cases are detected by auditors, which means it is time to switch your focus to internal controls instead.
Too Many SMEs Rely on Manual Invoice Processing – When They Don’t Have To
If you are an SME, this picture may be familiar to you. Knowing that tools for accounts payable (AP) automation are designed for large enterprises - those with an annual …
Too Many SMEs Rely on Manual Invoice Processing – When They Don’t Have To Read More »
