Small businesses are the lifeblood of the US economy. According to the Small Business Association, small businesses make up 99.9% of businesses and employ nearly half of all workers. At the same time, nearly one in three small business owners are still using their personal bank accounts for their business. Financial institutions are the key to …
SKU Data Helps Support Small Business Customers Better Read More »
The true competitive advantage for any organization is access to data, and nowhere is this more true than in the finance department. However, translating data points into action remains less clear for CFOs and VPs of finance looking to solve payment challenges. Cross-border business, an ongoing pandemic, and narrowing margins in an uncertain economy only …
CFO Guide: Data-Driven Approach Towards AP Automation Read More »
Over the decades, business process outsourcing (BPO) has shifted from primarily a cost-cutting measure to a method of supporting in-house staff. And with the ongoing labor shortage, offloading some of the responsibilities through outside expertise just makes sense. Already 57% of businesses outsource different processes to better focus on their core business functions and operations. …
Business Process Outsourcing For AP Data Capture Read More »
The task list for the average AP employee is growing rapidly. In 2021 alone, 77% of AP professionals found themselves tasked with processing invoices while less than one-third dealt with suppliers. This isn’t a surprise. After all, processing a single invoice from start to finish can take over a week. With 82% of invoices coming …
The last few years have put pressure on accounting operations and highlighted the power of digitized departments. Prior to the pandemic, accounting departments across the globe were already stressed. A proliferation of manual tasks left them exhausted and wasted their talents. In fact, nearly 50% of small and mid-market businesses received paper invoices. Accounts payable …
Intelligent automation – buzzword or asset? Like most financial technologies, it’s a little bit of both. How the technology is used, and what makes up a specific automation solution, is just as important as the implication of digital transformation. As a combination of different automation technologies, including artificial intelligence, robotic process automation (RPA), and optical …
End-to-End Invoice Processing: The Power of Intelligent Automation Read More »
Seventy-one percent of accounts payable leaders say their department will automate further before year’s end. Even departments that describe themselves as “largely automated” plan to deploy more technology. But many accounts payable leaders are unsure of the best technologies and approaches to automation to use. Many are wondering what to do with their existing invoice …
IOFM Town Hall: The Accounts Payable Automation Answer Forum Read More »
Your procurement team has been hard at work scouting and onboarding vendors that can take the company to the next level. However, it’s the AP team that keeps these relationships on firm foundations. Late payments can strain or even destroy otherwise positive supplier relationships – even if the cause is due to a small error. …
Improving Supplier Relationships with Automated AP Read More »
Itemize AP Automation Solution is a smart, powerful, and end-to-end enterprise invoice processing solution that removes any labor-intensive and error-prone steps to transform your accounts payable process into a cost-saving and value-adding operation.
Document Data Extraction: Use Case The majority of payments organizations with over 5,000 employees are using some form of AI. If you are looking for other cost-effective and non-manual ways to satisfy the regulator, then you must read our latest guidebook to find out how to boost revenues by increasing personalization of your services to …
The Payments Association’s Guide to Artificial Intelligence Read More »
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