The Invoice Processing Challenge In almost every industry, invoices are received in paper or electronic format. The invoices are then reviewed and forwarded, usually through inter-office mail, for approve and coding. The invoice approval process usually resides in the hands of seasoned accounting staff, who are only sometimes available, delaying payments. Any exceptions are usually… 6 Reasons Why Invoice Processing Automation Is The Future
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With 39% of Accounts, Payable departments reporting high invoice processing costs and substantial errors as their biggest challenges, inefficient invoice workflow management poses a significant risk to business performance. Simply put, an invoice workflow is a process that determines how business routes and approves invoices. Although manual invoice workflows work, it’s tedious, time-consuming, and considerably less reliable,… 5 Best Practices to Optimize Your Invoice Workflow Management
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wwWWithThe company mailroom has traditionally been one of the most chaotic departments in an organization. With packages and envelopes flooding in now and then, it has always been full of manual activity and, thus, prone to errors. These traditional systems drained resources quickly in terms of staff, time, and cost. This is why companies today… The Role of Digital Mailroom Automation in Accounts Payable
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In today’s market, your digital transformation efforts play a crucial role in your business’s success. As Intelligent Capture technology continues to evolve rapidly, automating manual, paper-based processes has become necessary to compete with other businesses and stay relevant. This technology allows us to identify and extract critical information without any explicit user guidance. However, intelligent… 4 Ways to Leverage Intelligent Capture Strategically
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An effective digital transformation strategy is a catalyst for business growth and allows organizations to make most of the cutting-edge technological innovations. With technology disrupting most traditional business models, organizations need to invest more than ever to stay relevant in a fiercely competitive market. Unsurprisingly, enterprise spending on digital transformation was $2 trillion in 2019 alone.
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