With business communication becoming less face-to-face and more virtual, criminals could contact your firm disguised as a customer support specialist from one of your vendors. According to a recent press release from the FBI Internet Crime Complaint Center (IC3), 2021 saw an increase in the number of complaints about the impersonation of customer support pros. […]
You wouldn’t want to remain loyal to suppliers that frequently raise their prices without warning or miss important delivery deadlines. So maybe it’s time to consider starting or updating a supplier performance management program. Among the organizations that may be reevaluating suppliers right now are Major League Baseball teams, such as the Texas Rangers and […]
Since IRS has sent out its second batch of CP2100/CP2100A notices, backup withholding and B notices may be on your mind right now. While IRS notified many A/P pros of any taxpayer identification number (TIN) issues back in the fall, the agency recently notified those who submitted corrected returns of any TIN errors it discovered. […]
Business travel in 2022 started off slow due to the Omicron variant, but it’s starting to pick up again. And due to the current economy, travel costs are expected to rise – especially as the weather warms and travelers of all types hit the road. Hotel rates will be 13% higher globally this year, according […]
The use of digital currency has grown dramatically in recent years, with some businesses already making payments to employees in cryptocurrency. But Finance should use caution. For starters, the Fair Labor Standards Act (FLSA) regs state that wages must be paid in cash or its equivalent. So employers might pay bonuses in Bitcoin, Ethereum, Tether, […]
New research proves just how critical it is for your company to keep moving toward electronic payments via ACH – and how expensive it is to keep cutting paper checks. Data from the 2022 Payments Benchmarking Survey, released by the Association for Financial Professionals (AFP), compares the cost of making and receiving ACH payments to […]
You know that increasing electronic payments and decreasing paper checks streamlines your company’s finance operations in a big way. But what about those vendors your company works with that still don’t accept e-payments? How can you win them over? Electronic payments: Myths v. facts A/P software solutions provider Mineral Tree says a good place to […]
Expense reports may have decreased for some companies during COVID. But in many cases, expense reimbursement requests are back on the rise. Your A/P team should keep its eyes peeled and expect more mistakes as more employees submit expense reports. Here’s why: Expense policy compliance is much lower right now across the board for companies. […]
Even if you’ve automated your A/P operations, manual processes often get in the way. This can waste time, money and energy for companies. A/P automation solutions provider Beanworks surveyed A/P pros on their biggest manual pain points that bogged down productivity. And the results may not surprise you. Here are the top three issues with […]
