Vendor Payment Management System – Get Over These 5 Ridiculous Myths
Karbon Business Blog
by Nikitha Reddy
1y ago
As your business grows, you may find yourself in need of an automated vendor payment management system to bill your vendors.  This can save the company a lot of time and effort as compared to processing the payments manually. In addition, it allows your company to focus on core activities rather than managing payments-related tasks. The problem is the many many myths surrounding these digital payment processes.  We have narrowed down the top 5 misconceptions surrounding the Vendor Payment Management System What are they?  Table of Contents It Will Take Longer to Pay Vendors S ..read more
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5 Things to Avoid While Storing Vendor Payment Details in One Place
Karbon Business Blog
by Nikitha Reddy
1y ago
Are you currently running a business that uses multiple vendors to source products? The products may be digital software or physical as well. If yes, then you will already have a place to store all your vendor information, including your vendor payment details. If not, it is time to get one right away!  Traditionally, businesses keep track of their vendors in ledgers. The digital revolution has since transformed the world economy and fast-tracked the process of vendor research, payment and reconciliation.  Businesses now keep only electronic records of all their vendors. However elec ..read more
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AP Automation Software – Top 5 Things To Consider Before Choosing The One
Karbon Business Blog
by Nikitha Reddy
1y ago
We’re in the 21st century.  It’s time the payments & AP industry shifted to 100% digital mode, don’t you think?  Over the past 10 years, we have seen many businesses implementing AP Automation to streamline invoicing processes.  Most processes associated with accounts payable and accounts receivable are outdated, paper-intensive, manual, and somewhat inefficient.  Accounts payable departments heavily involved in manual activities cannot touch the high volume of payments for invoices received from vendors. This is due to the semi-automated process, being ineffectively im ..read more
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4 Ultimate Cost-Saving Tips for Effective Use of AP Automation Tools
Karbon Business Blog
by Nikitha Reddy
1y ago
Are you a business owner interested in saving costs for your business? Then you are at the right place. Accounts payable (AP) automation tools can have a big impact on your cash flow and savings. How can you tell? There is more than one way to estimate the magnitude of cost savings with AP automation tools. This figure varies based on the calculation methods used. Table of Contents Problems You Can Avoid With AP Automation Tools Tips for Cost-Cutting Using AP Automation Tools Karbon Payout – The Ultimate AP Automation Solution Problems You Can Avoid With AP Automation Tools Automated In ..read more
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5 Critical Technologies to Improve Financial Efficiency Using AP Automation Solutions
Karbon Business Blog
by Nikitha Reddy
1y ago
A recent study stated that a whopping 94% felt finance automation helped them immensely during Covid Lockdowns.  That’s not surprising now, is it?  With the world shifting to a 100% digital era, it is time you too considered AP automation for your business accounts payable.   If you have a business using multiple accounts payable (AP),  you should start looking for automated vendor payment solutions. However, just before jumping in,  you should know exactly what AP automation is and how it works.  In this blog, we break down Accounts Payable automation and th ..read more
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7 Amazing Ways AP Automation Is Transforming the Payments Industry
Karbon Business Blog
by Nikitha Reddy
1y ago
It’s the early 21st century, and it’s time the payments & accounts receivable (AR) industry steps into the modern era. If your company is still processing invoices manually, this increases the firm’s liability.  The vendor payment processes associated with accounts payable are usually manual and inefficient. Fortunately, many businesses are now implementing accounts payable automation, which streamlines their invoicing processes entirely online.  Thanks to AP Automation, businesses can eliminate their reliance on paper checks and pay their vendors electronically. Table of Conten ..read more
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Vendor Payment Automation – Top 5 reasons why your business needs it
Karbon Business Blog
by Nikitha Reddy
1y ago
Every business owner is familiar with making vendor payments. But what about vendor payment automation?  If you consider business operations, it is one of the most important forms of cash flow. Every business makes use of a vendor’s service in one way or another – from workspaces to food providers.  Especially if your business entails retail products supplied by your vendors, chances are your business already makes vendor payments regularly. Either way, there’s a fair chance you have a system in place that tracks all vendor payment invoices. The next logical step is to disburse money ..read more
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Top 5 Benefits of Vendor Consolidation- The Payout Solution
Karbon Business Blog
by Nikitha Reddy
1y ago
Are you a businessman losing track of vendor payments?  Where are your vendors located?  Who are the vendors easiest to work with?  Is managing supply orders from multiple suppliers driving you crazy?  Has it all of a sudden become running behind suppliers rather than running your business? Then you can relate to this. If you’re running a business that relies heavily on vendors for sourcing products, you will know all about going to multiple sources for wholesale orders.  Understanding supplier chain management is a harrowing experience in itself.  This process ca ..read more
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7 Tips for Using  Vendor Payment Systems Most Effectively 
Karbon Business Blog
by Nikitha Reddy
1y ago
When you do something,  do it right.  If you are a business owner in an SME or Startup, you probably have to manage its finance to some extent. It is also likely you already have a system in place for paying your vendors.  There are examples of several businesses crashing soon after take-off due to unoptimized cash flow.  Using vendor payment systems hence becomes important. These systems re-iterate the brand’s credibility and also help in managing accounts. If you don’t have a vendor payment system yet, now is the time. This is because of two simple reasons:-  a) you ..read more
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14 Hidden Charges You Should Avoid Using Vendor Payment Software
Karbon Business Blog
by Nikitha Reddy
1y ago
How difficult can life be for a businessman?  Running a business. Floating it through the covid crisis. Make Vendor payments promptly.  Sigh.  The struggle is real.  What adds to this struggle is, when you have multiple accounts payable, and you are forced to use a traditional big bank to complete the process.  At the end of the month when you look at your balance sheet, you realize something isn’t right. You would recognize some transactions that you never made! Neither was any SMS/email alert sent to you regarding the debit of these amounts.  On further checking ..read more
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