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Virtual cards are a game-changer for accountspayable departments. David Coffman, VP Finance at Doximity, says Airbase virtual cards play an integral role in cutting the company’s time-to-close in half. But the software behind the transaction creates the magic, and in Airbase, it comes down to the workflows.
Accountspayable (AP) refers to the series of steps that companies take to pay their bills. It requires the safe handling and recording of funds transferring from the company’s bank account to suppliers and vendors. The importance and evolution of accountspayable. Using AP automation software.
Implementing accountspayable best practices can help your organization reduce risk, save time and money, foster strong vendor relationships, and create a better spend culture. You can better identify the best AP automation solution for your organization by following accountspayable best practices.
Automated 3-way matching in Airbase. Three-way matching is a fundamental accounting and procurement control process that matches three critical documents related to a purchase: The purchase order (PO). Schedule a demo Learn how Airbase can transform your entire purchasing process. Learn more about Airbase 3-way match.
Speaker: Spencer Falbo, Principal at Kong Basile Consulting
For a long time, the market has offered point solutions for accountspayable, such as bill payment, expense management, travel software, and corporate cards. Attendees can receive a FREE CPE credit for attending this webinar from Airbase. The implications of spend management for the future.
Airbase has witnessed this thirst for solutions with widespread and rapid uptake of our new Guided Procurement module since it was released earlier this year. Schedule a demo Learn how Airbase can transform your entire purchasing process. The innovation of Airbase Guided Procurement. billion by 2029, at a CAGR of 10.9%.
We frequently hear from customers that they’re experiencing a much better spend culture across the organization thanks to Airbase. This results from removing friction, uncertainty, and frustrations for employees and accounting teams when it comes to spending company money. Healthy spend culture: The magic of Airbase.
The transaction software you use for payables is key to identifying and thwarting attacks. Airbase provides additional levels of security that can be especially helpful in this environment. Vendors you have invited to Airbase can use the vendor portal to manage their payment details themselves.
The challenge is building an accountspayable process that captures all required information, ensures compliance, and doesn’t slow down employees. When approval processes can be customized to accommodate complex approval chains through Airbase’s Guided Procurement, nobody is overlooked. first appeared on Airbase.
At Airbase, we’ve heard stories about the problems that our customers used to have when closing the books, with entries for spend flooding in from all areas on corporate cards, via purchase orders, and from expense reimbursement requests. Schedule a demo with Airbase to see how a spend management platform makes a difference.
At Airbase, I’m the controller of a 300-person tech company without a dedicated procurement professional, so the responsibility to ensure that the procurement function is being fulfilled (policy compliance and vendor management) falls to me. Of course, companies with a dedicated procurement resource recognize the value of Airbase’s software.
With a consolidated spend management platform like Airbase, an organization can ensure that its financial resources are being used in the most efficient and effective manner possible. For example, on Airbase, duplicate spending is automatically flagged. What are some good accountspayable automation systems?
HR and payroll software solutions provider Paylocity has struck a deal to acquire spend management platform Airbase for $325 million, the companies said in a media release on Sept. Founded in 2017, Airbase is headquartered in San Francisco and has approximately 300 employees in the U.S., Canada, India, and the Philippines.
3-way match is a process used in accountspayable to ensure that invoices are accurately matched to the correct purchase order and corresponding goods received note (also called the receiving report). In Airbase, after a PO request is created, it is routed to the correct approver, or approvers, based on the rules created.
How does procurement relate to accountspayable? The IDC report also points to the recent innovation of including the full cycle of employee spending by combining procurement workflows with accountspayable automation. See how Airbase’s Guided Procurement module can improve spend under management. No problem.
Airbase hosts a Slack community of over 5,000 finance professionals where conversations are often sparked by someone asking what solutions or providers others have used to solve specific problems. Schedule a demo Learn how Airbase can seamlessly gather vendor information in the purchasing process. first appeared on Airbase.
Aimed at consolidating spend across accountspayable, employee expenses and other processes, Airbase offers companies a way to manage and control the money that flows out of a business. The company said it plans to use the investment to further build out its lending operations.
But this category of software has, in recent years, evolved within silos as technology providers tackle particular spend scenarios like accountspayable (AP) and employee expenses. Historically, said Airbase CEO Thejo Kote, finance and accounting teams have been forced to work around the friction of a fragmented spend ecosystem.
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