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As Businesses Shift Focus to Efficiency, Finance Teams Must Find Ways to Do More with Less in AP

CPA Practice

AP automation is a key strategy for many finance leaders In the survey, finance leaders ranked AP automation as their top digitization priority in the back office—ahead of Accounts Receivable (AR), expense management, close management, and forecasting.

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A Guide to AP Automation Technology

MineralTree

Automation is reshaping the way companies manage their financial operations, especially in accounts payable (AP). Understanding how AP automation works and how it streamlines AP processes is vital to keeping your company ahead of the curve in a rapidly evolving business finance landscape.

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How to Improve Efficiency Across the Finance Department

MineralTree

Make It Easier to Approve Invoices Efficient invoice approval workflows are essential for preventing bottlenecks and simplifying financial operations. Leveraging customized processes and solutions like MineralTree allows you to route invoices to the appropriate stakeholders for review, ensuring smooth monitoring and tracking.

Finance 91
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The Accounts Payable Workflow in QuickBooks: How to Improve the Process

MineralTree

Improving the QuickBooks AP Workflow: 11 Reasons to Automate While many organizations continue to rely on the current AP workflow in QuickBooks, the need for a more streamlined process is becoming increasingly clear. With platforms like MineralTree, invoice approvals can all be done via email.

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AP automation best practices for 2024 and beyond.

Airbase

Assessment and mapping: Identify key steps in your current AP workflows, from invoice receipt to payment processing. Map out approval hierarchies, specifying individuals or departments responsible for each stage. AP automation’s data analytics informs strategic business decisions and financial planning.

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Increasing Productivity in Finance

MineralTree

The upcoming State of AP Report 2023 highlights that almost half of respondents (49.1%) express concerns about reducing AP processing costs. For example, businesses that rely on manual invoice processing spend up to $12.44 The State of AP Report 2023 highlights that a staggering 84.7% per invoice on average.

Finance 77
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What is procure-to-pay software?

Airbase

The goal of P2P software is to increase efficiency and accuracy in the procurement process while also providing visibility into spending and supplier performance. P2P software supports AP processes by automating procurement activities and capturing relevant financial information What should I look for in a P2P solution?