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What is procure-to-pay software?

Airbase

Procure-to-pay (P2P) software originated from the need to oversee the process of acquiring supplies for manufacturing and other industries, and to manage inventory in the retail sector. Approval workflows: Customizable approval workflows ensure that the appropriate individuals approve POs and invoices before payment is made.

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10 useful apps to help Kiwi small businesses kick off FY24

Xero

Build new automated workflows Complex layers of approval processes can hold up your accounts payable and receivable, no matter how large your business is. These apps can help take away those manual workflows. Another great option is Lightyear , which focuses on automating Purchasing and Accounts Payable.

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Going Digital with Invoice Approvals

MineralTree

What is Digital Invoice Approval? Digital invoice approval involves reviewing, approving, and processing invoices electronically prior to payment. An electronic approval workflow takes out the paper-based component of this process to improve transparency, allowing teams to accurately track the status of their invoices.

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Handling Advanced Inventory Tracking Using QuickBooks Online

SchoolofBookkeeping

Advanced Inventory Tracking inventory Using QuickBooks Online For years the outcry from the accounting community has been “QBO doesn’t track inventory” and when QBO was first unveiled (circa 2000), that was 100% accurate. Dropshipping - Arrangement with manufacture for the order fulfillment is completed by another entity.

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Apps to help solve four common small business pain points

Xero

GoCardless – Automatically debit your customer’s bank account when your Xero invoices are due with this bank-to-bank payment method. With smart rules to automate expense categorisation and approvals, you’ll stay in control. Connecting your sales and accounting. Ideal for businesses that bill their customers on a recurring basis.

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Increasing Productivity in Finance

MineralTree

Under the finance umbrella, accounts payable (AP) is particularly ripe for digitalization, with the potential to streamline operations and enhance efficiency. Why Productivity Matters in Finance Financial accounting productivity facilitates healthy cash flow.

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Why 85 Pct Of Companies Want AP Automation

PYMNTS

In manufacturing plants, call centers and many other workplaces, automation is the standard. However, when it comes to corporate accounting departments, automation is still the exception. Will they be able to capitalize on it by investing in accounts payable automation going forward? It is not from lack of interest.