AI-assisted applications can greatly drive financial back-office automation by streamlining processes, reducing manual effort, and increasing...
AI-Assisted Back-Office Applications
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Business
Artificial Intelligence Impacts on Business
AI can be an enabling technology and need not be an “all or nothing” proposition. Using elements of AI to augment and strengthen embedded technology solutions can provide significant short-term benefit
AI in Data Capture and OCR
Artificial Intelligence (AI) plays a crucial role in data capture and OCR (Optical Character Recognition) applications, revolutionizing the way we process and extract information from various sources. For accounts payable (AP) departments and other financial back-office areas, AI assisted data capture can provide tremendous efficiencies and increased accuracy.
Why Procurement Needs Vendor Portals
Vendor portals offer many benefits to procurement departments. In this blog, we will look at some general benefits these highly collaborative,...
What Is My Cost per Invoice?
Cost per invoice = (Total personnel costs + Total overhead costs + Total technology costs + Other costs) / Total number of invoices processed
Vendor Packets and Vendor Onboarding
So, what exactly is included in a vendor packet? The contents can vary greatly depending on the industry and the needs of the business.
Common Issues in the Financial Back Office
One of the most common issues found in financial back-office operations is the use of inefficient manual processes. Many of these operations still rely on manual processes for tasks such as data entry, record-keeping, and reporting.
How to Reduce Costs and Increase Efficiency
Reducing costs and increasing efficiency in the financial back office is a top priority for many companies that continue to prepare their...
Benefits of Implementing Best-of-Breed
In today’s rapidly evolving business landscape, organizations are constantly seeking ways to optimize their operations, reduce costs, and enhance productivity. One way to achieve these goals is by investing in best-of-breed business solutions. These solutions are designed to provide superior functionality, flexibility, and scalability than their all-in-one counterparts, such as ERP platforms.
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