6 Common Accounting Errors and Corrections in the AP Workflow
Accounting errors are serious business. And, unfortunately, they are incredibly common. Human error alone makes up 41% of inaccurate numbers in reporting. Finance professionals report that manual processes in accounting largely lead to lost documents, compliance breaches, and reduced productivity. While accounts payable professionals follow accounting principles, it's easy to see how someone would make …
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Credit Card Reconciliation with Gorilla Expense
The corporate card is hardly immune from credit card fraud. In fact, fraud nearly doubled at 57% in just Q2 of 2020. But matching transaction data through credit card reconciliation is a slow, painstaking process. It's not surprising that verifying expense reports through credit card reconciliation is probably one of the least liked tasks for …
Lawson INFOR Expense Automation 101
With over 70,000 customers worldwide, Lawson INFOR is a premier business software across several industries. Robust and easily customized for unique needs, AP teams know INFOR more for its expense management capabilities than anything else. An upgrade from the regular spreadsheet, the Lawson INFOR expense management dashboard is fairly easy to use. There's just one …
10 Important Tips to Maximize the Success of Your AP Automation
By now, most accounts payable professionals and CFOs know how revolutionary an AP automation process can be. But understanding a solution and implementing it are two very, very different actions. High cost, competing priorities, and worries over measurable ROI all play a part in automation hesitancy. But team buy-in can also prevent much-needed changes from …
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How to Choose a Time Tracking App for Your Project
Time theft, time spent in the workplace on unproductive or unrelated tasks, affects over two-thirds of businesses. To combat this problem while boosting productivity, companies invest in time tracker tools—and with great success. In 2020 alone, companies recovered, on average, $666,400.00 in annual wages after implementing time tracking software. The question isn't why companies should …
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6 Best Practices for Expense Management with Microsoft Dynamics 365 Business Central
Before splitting payment methods for a single invoice or compiling stellar reports, there are a few best practices to follow when planning to add expense automation to your ERP. Applying the following concepts to your new Dynamics integration will allow your team to gather granular data for each expense. In turn, you'll be able to …
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6 Challenges Accountants Face in Implementing Digital Transformation
Digital transformation—in all its forms—has been a business talking point for over 30 years. But only in the last decade have organizations truly seen the value of a successful digital transformation strategy. For example, a 2020 Deloitte study discovered that digital technology accelerated business goals by 22%. Not only is implementing a digital strategy an …
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Microsoft Dynamics 365 Business Central Expense Management Integration
When it comes to AP automation, Microsoft Dynamics 365 Business Central (BC) provides a host of enhanced features, with everything from invoice matching to customized payment schedules. And unlike Microsoft Dynamics GP, Microsoft Dynamics 365 is completely cloud-based and offers free updates, as well as access to its dimensional reporting system. But the biggest benefit …
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A Lighthearted Look at Expense Fraud with Gorilla Expense
Expense fraud is usually hidden, undiscussed, and out of the limelight. Not in 2021. We've gathered some amazing stories that people have claimed as business expenses. And we’d like to share them with you as we go because they really highlight how creative some people can be when it comes to money. Here are a …
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Spend Visibility Management: The Cornerstone of Accounting Transformation
Rapid growth, promises for innovation from new C-suite hires, and legacy processes usually end up in headaches for the accounting team. Buzzwords alone aren’t enough for meaningful change. Oftentimes, it’s difficult for companies to let go of legacy processes, despite their best intentions. Manual accounting practices cause several issues for accounting departments: Long payment times, …
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