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 »
Accounting automation has been on the agenda for most businesses over the past decade. Even before the pandemic, companies knew that automation, particularly with AI, provided optimized business operations and freed up time for workers to be creative. In fact, there are many areas of improvement in the actual accounts payable process. We know, for …
5 Accounts Payable (AP) Software Features for the Next Decade Read More »
The past two years have fundamentally changed the way businesses are structured – and we aren’t just talking about working from home. The clear logistical challenges and supply chain woes have highlighted organizational gaps across industries. Asynchronous lockdowns and shipping delays continue to take their toll on the market. Accounting has been one of the …
AP Automation in the Era of Supply Chain Disruption and Labor Shortages Read More »
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