How To Get Control of Your Expenses During Turbulent Times
Reigning in expenses is critical to successfully navigating turbulent times and positioning the organization for recovery. But that is easier said than done for most businesses. Paper processes, fragmented systems and lousy reporting are often to blame. The solution may be within arm’s reach – literally! More organizations are using mobile solutions to capture, process and upload expenses for projects, professional services, office supplies and more.
Building the Intelligent Accounts Payable Function
Disruption was a significant threat to businesses, even before the COVID-19 crisis. Now the stakes are higher. A company’s very existence could be threatened by back-office processes that cannot keep pace with the “new normal” – new operating models, new ways of buying and selling goods, and new risks. Finance leaders can navigate the crisis and position their business for the recovery by building an intelligent accounts payable function – one that is digital, data-driven and on-demand.
How to Transform Accounts Payable into an Information Powerhouse
Now more than ever, businesses need real-time visibility into their cash and spend. But in departments that rely on manual and semi-automated invoice processes, key data is not captured, information is not timely, data is poorly organized, and systems are fragmented. As a result, decision-makers can’t access all the variables they need to manage cash and spending.
How to Avoid Purchase Order Processing Breakdowns, No Matter Where Your Staff Works
Disruptions caused by COVID-19 are straining supply chains. The problem is being exacerbated by manual and semi-automated approaches to requesting, approving and issuing purchase orders. Inefficient and ineffective purchase order processes waste employee time, open the door to maverick spending and delay the receipt of much-needed materials and goods. If organizations want to better manage their corporate spending, they must automate their purchase order processes.
5 Critical Considerations When Choosing an AP Solution
Accounts payable departments are prioritizing automation to address the operational challenges and risks created by COVID-19. But settling on the right solutions provider can be overwhelming. There are lots of technology providers to choose from, with different approaches to automation.