Compare Shared Services and Outsourcing Accounting Services
It’s indeed a tough affair to compare shared services and outsourcing for accounting and select the best one for your business requirements. Finance teams are constantly under pressure to perform at a desired speed in an organization. Whether it’s invoice processing, bookkeeping, accounting, and a lot more, back-office tasks are tedious and time-consuming. That said, business […]
Intelligent Document Automation [Definitive Guide in 2024]
In the previous articles, we have seen how traditional and template-based OCRs drastically failed the idea of setting up a paperless AP automation. The impact of template-based OCRs was so horrible that the employees literally switched their Google searches back to “how to convert PDF to Excel manually”! Accounts payable (AP), being an important department […]
Paperless Document Automation for Business with 99% Accuracy
In the previous blog, we established a firm foundation for a paperless office in the form of invoice automation. Taking it forward, this post talks about the costs associated with paperless document automation. Since every organization has 20% structured and 80% unstructured data with vendor invoices forming a non-trivial part of the latter, reducing costs related […]
How is AI revolutionizing Accounts Payable Invoice Automation?
[vc_row pix_particles_check=””][vc_column][vc_column_text] Long before our country embraced civilization, millions of invoices were to be processed in a month. The finance sector was looking for a much-needed change in their traditional invoicing workflows which involved hand-to-hand exchange of invoices and payment. The accounts payable (AP) processes were entirely manual and human-dependent. This manual process was time-consuming […]
Why is Automation More Critical than Ever During the Pandemic?
[vc_row pix_particles_check=””][vc_column][vc_column_text] The coronavirus or COVID-19 pandemic has taken over the whole world, and more than 150 countries are impacted by it. The economies have fallen short of handling the situation, and most of the countries project a negative growth in the gross domestic product for the current financial year. The new normal of life now involves […]
How to Digitize Accounting Function of your Business in 2024
Accounting in some form or another affects everybody’s life –it might be the accounting of food stock, or, the expenses of an organization. Without accounting no business can survive. As per the business directory, the definition of accounting is “ It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial […]
Go Green with Yellow – How to Bring Paperless Office Culture?
[vc_row pix_particles_check=””][vc_column][vc_column_text] Not long ago, the revolution of digitization started and many of the industries started moving towards paperless technologies for efficient management and optimal use of the resources. With the advent of cloud storage and digital document management, creating and sharing of the virtual documents have become the new norm. The papers are being replaced […]
Accounts Payables Process Needs to Evolve
[vc_row pix_particles_check=””][vc_column][vc_column_text] Accounts payables process and supplier invoice processing is an integral integral part of each and every business regardless of what sector or vertical your business is in. Supplier Invoice processing is an extremely time-consuming activity. Even though there are many automation tools available, companies still prefer the traditional approach of paper invoicing. Hard […]
End-to-end Accounts Payable Automation: AP Automation
Businesses continually focus on discovering ways to reduce costs and enhance productivity. With that approach, the primary target is automating and error-prone and labour-oriented processes such as Accounts payable (AP). As any business flourishes, there comes a time when manual hard-copy invoicing becomes too inefficient to continue. In this article, we majorly focus on explaining […]
How AI reduces fraud in employee expense reports?
Expense reimbursement fraud can occur in any organization, but are you aware that it happens because of their own employees? According to the Association of Certified Fraud Examiners’ 2018 Report to the Nations, employee expense claims fraud accounts for 21 percent of total fraud in small businesses (those with less than 100 employees) and 11 percent in large businesses (those […]
