The financial back office is essential for handling critical tasks like settlements, clearing, and regulatory compliance. In a competitive market, optimizing these operations is crucial for maintaining profitability and efficiency. Here are 10 actionable strategies...
In the world of ERP systems and the financial back office, you might often hear the term “bolt-on” solution. But what exactly is a bolt-on, and is it the right move for your organization’s financial operations? A bolt-on solution refers to a...
Not all automation is created equal. The two primary approaches, fixed and dynamic workflows, serve different purposes and play distinct roles in a company’s operations. Understanding the difference between them is key to choosing the right tool for the job....
While chatbots are mostly known to be used for customer service, their potential within the financial and operational back office is rapidly growing. They’re emerging as powerful tools for accessing, analyzing, and ultimately driving data-driven decision-making...
The financial back office encompasses numerous crucial, historically time-consuming tasks that are prone to human error; however, with the aid of AI, these tasks may no longer be considered bottlenecks. AI is fundamentally transforming financial back-office functions,...
Choosing the right back-office solutions can feel like navigating a maze. For businesses looking to optimize their back-office operations, the decision may come down to two entirely different solutions: a comprehensive, multifaceted ERP system or a more agile,...
Invoice processing can be a major drain on resources for finance and accounts payable teams, especially when dealing with invoices that don’t conform to a standard template. Manually keying in data from these non-standard documents is time-consuming, prone to...
Is your AP team constantly fielding calls and emails from vendors asking about invoice status? Are you juggling multiple backend systems, trying to provide a clear picture of payment progress? If so, you’re not alone. Many companies, especially those with...
Choosing the right back office technology is a critical decision for any organization. It can be the difference between streamlined, efficient operations and a mess of manual workarounds, half-working systems, and imperfect solutions. Financial back office technology...
Balancing fraud prevention with a user-friendly vendor experience is a critical challenge for businesses today. Striking the right balance between the two is essential, as you need to protect your company’s finances without creating a vendor management process...
