PO Vs. Non-PO Invoices: Exploring The Difference And Optimizing With Automation
PO Vs. Non-PO Invoices: Exploring The Difference And Optimizing With Automation In the Accounts Payable (AP) process, identifying whether an invoice matches a purchase order (PO) is the critical first step. There are two main types of invoices: PO invoices (based on purchase orders) and Non-PO invoices (expense invoices). This article will explore the differences […]
The Importance Of 2 Way And 3 Way Matching: Time To End Manual Processes
The Importance Of 2 Way And 3 Way Matching: Time To End Manual Processes In the Accounts Payable (AP) management process, 2 way and 3 way matching play a critical role in ensuring the accuracy of purchasing and payment transactions. These two processes have distinct differences that businesses need to identify and apply according to […]
AP Challenges And Solutions
AP Challenges And Solutions Managing Accounts Payable (AP) can often feel like a nightmare due to challenges such as time-consuming manual invoice processing, late payment fees, and missed discount opportunities. These issues not only increase operational costs but also damage relationships with suppliers. However, the rise of AP automation is offering a brighter, more efficient, […]
Real Time Payments (RTP) Impacts Account Payables Process (AP)
Real Time Payments (RTP) Impacts Accounts Payable (AP) The evolution of real time payments (RTP) represents a major shift in business financial processes, especially in Accounts Payable (AP). RTP not only offers the benefit of instant payment, but also enhances transparency, accuracy, and efficiency in cash flow management. As companies increasingly adopt RTP over traditional […]