There can be little argument over the impact the Covid-19 pandemic has had on business. It has created an unexpected strain both financially and operationally speaking and, as a result, a whole new set of challenges for 2021. But what are the biggest challenges to finance functions in 2021? And does a reliable, efficient solution exist?
Now is the time to budget for AP Automation for 2021. Register for this webinar to learn how AP Automation could allow your business the ability to pivot your finance function seamlessly in the new year.
The disruption caused by the COVID-19 pandemic has forced businesses into making changes to their processes. But in some cases, this has increased company vulnerability, particularly to threats like invoice fraud with opportunist fraudsters taking advantage. However, companies that have embraced AP Automation find themselves better protected against fraud. Invoice fraud has been growing in
In the midst of the COVID-19 global pandemic, businesses have been forced to face challenges that would not normally have appeared as key challenges. One such area is Control and Visibility, with procedures now largely being operated through remote working. But through AP Automation, these are elements that are already greatly enhanced.
Expanding your business is an understandable ambition, but there is a consequential challenge to keep things running smoothly. Documentation builds up, processes come under pressure and project teams can feel the strain. Effective collaboration is the secret to overcoming such challenges, and AP Automation the key that boosts it.
From setting up new suppliers, raising purchase orders and approving invoices, the Accounts Payable workflow is ripe with fraud opportunities and without sufficient internal control measures in place, fraudsters can gain easy access to your company’s processes and information. However, you can mitigate the risk of fraud and protect your company by implementing certain procedures, such as the automation of your invoicing process.