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Accounts Payable Hub

Finance Automation

One of the largest benefits of finance automation is how much time a business can save. It creates a leaner supply chain with tighter controls. Digitizing common workflows means less time spent on tasks like data entry, bookkeeping, and other manual processes. 

Accounts Payable Aging Report

Businesses use accounts payable aging reports automatically generated by their accounting software to manage accounts payable balances, identify early payment discounts, and know when payments to their suppliers offering credit terms are due.

Business Email Compromise

Business email compromise is a widely used scam with variations. Imposters use BEC to steal money or confidential information from companies. 

Procurement Software

Procurement software automates a broad range of activities relating to business purchasing. An umbrella term often used to address the scope of coverage is spend management.

Accounting Problems

Financial professionals in businesses should use software with advanced technology capable of handling current accounting standards, including revenue recognition and lease accounting, and regulatory requirements to avoid or solve significant accounting problems.

Vendor Selection Process

Business procurement teams use the vendor selection process. For technical products or services or collaborative decisions, the team may include members of other functional areas interested in buying and using the product or evaluating the vendor’s financial strength. 

Vendor Fraud

Vendor fraud thrives in organizations where just one employee vets vendor invoices. Hence, to prevent it, invoices should be vetted by two or more employees from different departments and at various management levels.

Concur Competition & Alternatives

Although Concur and Tipalti both help companies automate their accounts payable processes, each platform is designed with different features and solutions for finance teams. Here’s a look at some of the differences between Tipalti and Concur.

Procurement Strategy

A procurement strategy is the blueprint for implementing a procurement process. It considers everything from building a supply chain, the systems for initiating and tracking purchases, managing costs and risks, and evaluating results.

Sourcing Vs Procurement

Sourcing and procurement are complementary business processes that offer compelling value to any business with multiple product lines or growing sales. To realize that value requires support for both activities.

e Tendering

E Tendering helps businesses efficiently find the best suppliers for upcoming purchases at the right price. Multiple vendors respond to procurement opportunities electronically, competing to win sales or provide business services.

AvidXchange Competition & Alternatives 

AvidXchange and Tipalti both help companies automate their accounts payable processes, each platform is designed with different features and solutions for finance teams. Here’s a look at some of the differences between Tipalti and AvidXchange.

Stampli Competition & Alternatives

Selecting the AP Automation solution that fits your business’ needs is an important choice, especially for growing teams that need a solution that can scale with their business.

Discounted Cash Flow

Discounted cash flow analysis is applied in different areas, including business investment project selection, M&A valuation, and investors determining the market value of stock and other investments.

Purchase Order

This article explains the meaning of purchase order (PO), blanket purchase order, purchase requisition, how a purchase order compares to an invoice, how to create a purchase order, why you need a purchase order, and how a purchase order works.

Blanket Purchase Order

A blanket purchase order works in your favor the majority of the time, as long as the procurement process is strategically planned and organized. If the market value is volatile on products or services you provide, then reoccurring needs won’t matter, because you cannot forecast the cost.

Digital Purchase Order

A digital purchase order (DPO) is an electronic document that outlines the terms and conditions of a transaction between a buyer and a seller. They are typically generated in an electronic purchase order system or from a purchase requisition. 

CFDI

CFDI, is an electronic invoice format mandated in Mexico and also used in certain Latin American countries. It serves as a digital tax receipt that provides all the details of a business transaction: the goods or services provided, their costs and calculated taxes. 

Days Payable Outstanding

DPO is computed by taking standard accounting figures over a specific period of time to calculate this average time cycle for outward payments.

What is an Invoice

An invoice is an itemized list of everything that happened during a transaction between a buyer and a seller. It keeps a record of the products and/or services rendered, and other important details like the date, amount due, and method of payment.

Bill.com Competition & Alternatives

Selecting the AP Automation solution that fits your business’ needs is an important choice, especially for growing teams that need a solution that can scale with their business.

Open Invoice

Open invoices are a common and helpful tool in the world of accounts payable! Familiarizing yourself with what they are, how they work, and when to use them, can help you more quickly and seamlessly scale your own accounts payable processes. 

Accounts Payable Internal Controls

An internal controls framework – including approval workflows, signatory rights, and payment processes – provides the basis for minimizing risk and error in AP and ensuring financial compliance before payment.

Accounts Receivable

The term “account receivable” is when a business allows a customer to take immediate possession of a product/service, in return for a promise to pay.

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