Right now, as many companies deal with remote work and resulting process changes, the clarity of your A/P policies becomes even more important. If your staff’s like most, it’s been working to review and update some policies for the “new…
Accounts Payable
Your master vendor file (MVF) can help simultaneously boost compliance, monetary savings, payment accuracy and business relationships. That is, if you maintain it well, which seems to be a sticking point for many companies nowadays. Ready for the ‘new normal’…
The slow-climbing – then rapid – shift to a remote business world has furthered the argument for replacing manual A/P processes with electronic ones. It’s no longer realistic for your A/P team to have critical invoices, tax forms and other…
An international pandemic has turned the world upside down, and your accounts payable department is largely feeling the impact. The coronavirus (COVID-19) has been declared not only a pandemic but a U.S. national emergency. It’s forced people – and businesses…
What makes a Procure-to-Pay (P2P) process best-in-class? The answer to that question changes over time as the roles of P2P change, too. You’ll recall many moons ago when Finance and Procurement existed in separate silos, each group essentially focused on…
Expense reimbursement is getting more and more complicated for your finance department, due largely to a newer legislative trend. As if IRS regulations weren’t enough to keep up with, some states are adding their own expense reimbursement laws that your…
This holiday season, many of your employees are feeling extra generous ... with your company’s money! Out-of-policy spending skyrockets in December. So say the folks at AppZen. The company used artificial intelligence to identify unauthorized spend in companies. And boy did…
The high-tech future's finally arriving in finance departments all across the country, and e-payments are slated to take over. Check payments now account for less than half (42%) of all business-to-business transactions, according to the 2019 AFP Electronic Payments Survey…
There are few things more frustrating and stressful for your finance team than when a vendor won’t fork over its Form W-9. And it’s something many finance teams deal with – especially this time of year. More than half (56%)…
Winter is coming up quick. And there are more than a few year-end deadlines Finance must meet to guarantee IRS compliance and avoid pricey penalties. For the Accounts Payable portion of your team, it's all about those precious 1099s and…
Do you keep a close watch on how workers are paid and why? States are getting more serious about stomping out worker misclassification. And the financial toll for companies that make mistakes is eye-opening. The latest evidence: California just passed…
On any typical day, your Accounts Payable staffers are zoned in on paperwork and payments. But it’s essential for them to pause and take a big-picture look at your invoice process. Here’s why: More than a third (39%) of companies…
