Clinging to outdated vendor management practices is a surefire way to fall behind. Embracing innovation with your vendors isn’t just about adopting the latest technology; it’s about fostering stronger relationships, mitigating risks, and driving greater...
The back office is where crucial administrative and support functions like data processing, accounting, IT support, and compliance take place. While not directly customer-facing, the efficiency and accuracy of back office operations profoundly impact the entire...
Today, businesses rely on a complex ecosystem of software and technology solutions to operate efficiently. One crucial component is the ERP, which integrates core business processes like finance, HR, and supply chain management. However, not all technologies work well...
When it comes to costs, organizations frequently look to the back office when looking for places to save money; however, this is likely due to not understanding all of the functions that the back office is responsible for. This isn’t to say that there aren’t areas...
In the world of back-office technology, finding the solutions that best fit your organization is incredibly important. One factor many organizations must decide on is whether to opt for on-premise or cloud-hosted solutions. Although the cloud is increasingly emerging...
Vendor portals are incredibly helpful for organizations that have to deal with more than one vendor, complicated onboarding processes, and more. Vendor portals are a great way to centralize communication, collaboration, and transaction management with your vendors....
Vendor fraud is a serious threat to businesses of all sizes. From inflated invoices and phantom vendors to outright bribery, the potential losses can be devastating. While vigilance and strong internal controls are crucial, leveraging the right back-office technology...
Exciting news for our organization: we have rebranded! ICG Consulting is now ICG Innovations. This isn’t just a new name; it reflects a fundamental shift that started years ago in our approach to delivering tangible results for our clients. For those unfamiliar...
Efficiently capturing and processing information from paper documents and various digital sources is crucial for smooth business operations, informed decision-making, and maintaining a competitive edge. Many organizations must choose between outsourcing their document...
A smooth, efficient accounts payable process ensures timely vendor payments, maintains good relationships, and contributes to a healthy bottom line. However, a sluggish or error-prone AP department can lead to late payment penalties, strained vendor relationships, and...
