Accounts Payable

Historical and future trends in AP

To understand where AP is headed, it’s worth a backwards glance to remind ourselves where we’ve come from. Jimmy LeFever, Research Director at PayStream Advisors, gave an inspiring presentation at last year’s UK Basware Connect event in that showed the delta of change in the last decade, and how technology is shaping new practices and mindsets. Here are some of the highlights: 2006: the manual...

Robotic Process Automation and Machine Learning – the New Outsourcing

Outsourcing of Accounts Payable (AP) or the centralizing of functions to Shared Service Centers (SSCs), has been a leading trend for decades. This is considered a standard part of almost every company’s corporate financial services menu, but now there’s something new cooking that’s helping businesses get leaner – robotic process automation (RPA) and machine learning. Why are companies applying...

Drowning in Data?

Analytics can save your life. Possibly a slight exaggeration, but when you’ve got Analytics like ours in place and you think back to the manual reporting you did previously, it really can feel like a life saver. “It seems these days that the availability of data is outstripping many organisations’ capacity to make effective use of it.” – Jereme Pineda, Analytics Product Manager, Basware. I’m sure...

8 Invoice Headaches and How to Cure Them (and it’s not paracetamol)

If you’re reading this, then it’s highly likely you suffer some sort of pain when it comes to invoices. Even in Marketing I feel the ache too but nothing in comparison to our colleagues in Accounts Payable. We recently filmed a webinar with Mary Schaeffer based on her research of the most painful areas Accounts Payable staff feel when it comes to invoices. What struck me was just how many people...

Getting smart about value of data and data driven automation

Accurate and relevant data directly impacts business success. That may seem like an obvious statement, but when you think that many companies don’t have visibility of basic transactional data, it’s very relevant. These organisations can’t rely on the accuracy of their information, so they make assumptions or rely on intuition to guide crucial decisions. Digital data is less prone to manual...

E-invoicing: The Accounts Payable (AP) best practice behind productivity

Financial organizations are often on the lookout for the next step in efficiency. For the last few years, businesses have consistently prioritized any effort that can increase productivity, improve reporting and accounts payable analytics, or reduce invoice processing costs. Paper is the arch enemy of Accounts Payable and adoption of AP automation best practices What has kept AP heavy-footed,...

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