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AP Workflow

Streamlining Efficiency: Mastering Straight-Through AP Invoice Processing

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In the world of finance and accounting, the accounts payable (AP) department plays a critical role in managing invoices and payments. However, traditional AP invoice processing can be time-consuming, error-prone, and costly. Enter straight-through AP invoice processing, an automated approach that promises to revolutionize the way organizations handle invoices. In this blog post, we will …

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Wholesale lockbox

Transforming Wholesale Lockbox with Finance Automation: Solving Data Capture and Sorting Challenges

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In the ever-evolving landscape of finance, automation has emerged as a game-changer, revolutionizing various processes and operations. One area where automation has proven particularly valuable is wholesale lockbox services. Wholesale lockbox, a vital component of cash management for businesses, involves the collection, processing, and depositing of high-volume, high-value payments. However, the manual data capture and …

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AP for Construction

Empowering Construction Companies: Harnessing the Power of Finance Automation

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In today’s fast-paced business environment, automation has become a key driver of efficiency and productivity across industries. Traditionally known for their manual processes and paperwork, construction companies now embrace automation to streamline their financial operations. Finance automation offers numerous benefits to construction companies, from improved accuracy and compliance to enhanced decision-making and cost savings. In …

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KYP Itemize partnership

Itemize Announces Strategic Partnership With KYP

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NEW YORK, June 21, 2023 –  Itemize, the first AI-powered automation platform for payables and procurement processing, has announced a strategic partnership with KYP, a leading real-time and proactive alerts risk intelligence platform.  This strategic partnership will deliver robust and real-time continuous risk monitoring for added due diligence to Itemize’s clients. Similarly, KYP will offer Itemize’s AI …

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Learn how KOSA Design Studio Saves 70% Time per Invoice

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Customer KOSA is a multidisciplinary design studio. They design and build high-end commercial spaces and homes in New York City and the Hamptons. Challenge KOSA has a portfolio of 10-15 properties/development projects. Managing 3,000 invoices per month was challenging and the AP department needed a robust solution. KOSA was looking for a modern, digital accounts …

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AP Automation

How to Build a Business Case for AP Automation in Five Steps

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Automating accounts payable is a cost-effective, low-effort alternative to other digital transformation projects, but its benefits are both immediate and widespread. With all the advantages of automating AP, adopting this technology should be a no-brainer. But where do you begin? Whether you are just beginning your automation journey or looking to improve your existing AP …

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wholesale lockbox

AI-Powered Financial Automation for Wholesale Lockbox Processors

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Wholesale lockbox processors often struggle with manual data entry because it can be time-consuming and error-prone. In a lockbox operation, customers send payments (such as checks or electronic transfers) to a designated post office box. The lockbox processor then retrieves these payments and deposits them into the customer’s account. The lockbox processor needs to extract …

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B2B Financial Document Automation

Why B2B Financial Document Automation Critical for Transaction Processors and Banks

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What is Financial Document Automation AI-powered B2B financial document automation is the application of artificial intelligence and machine learning algorithms to automate and streamline the processing of financial documents.  The technology is designed to reduce manual data entry, minimize errors, and improve accuracy and efficiency in processing financial documents such as invoices, purchase orders, receipts, …

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Breaking Down VAT Compliance Reporting

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Currently, value-added tax (VAT) is used by over 160 countries worldwide, spanning from Latin America to Europe, Africa, and the Asia Pacific. But for accounting professionals, this rapid globalization comes with tax compliance obligations in multiple jurisdictions. Changes in governance and globalized business practices have drastically changed the way VAT is filed and processed. As …

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