Digitization is here to stay and it applies to more than just revolutionizing how invoices are processed and payments are approved. Virtual options are more and more commonplace in every area of business. In 2022, this is apparent in the rise in virtual options as finance conferences return and pick up steam.  Whether you're a CFO, Controller, CIO, or Accounts Payable (AP) Manager, you have a variety of exciting conferences to choose from. In 2022, there are in-person and virtual conferences, webinars, blogs, ebooks, and podcasts available to you.  For your ease and convenience, we c ..read more

Are paper and people-based processes leading to higher costs and missed business opportunities in your AP department? You’re not alone. In April 2020, we collaborated with PYMNTS.com in a study that showed: 75% of all U.S. invoices are paper-based 80% of U.S. firms use paper checks to pay their suppliers Businesses that automated AP & AR processes resulted in a 60% reduction in missing invoices Many organizations have bottlenecks in accounts payable that come from manual data entry, inefficient processes, and manual routing of invoices for review and approval. Accounts payable automati ..read more

Digital transformation used to be considered an optional change that your company would hopefully get to in the coming years in order to increase efficiency and deliver fresh growth. One of the lasting changes from COVID-19 is that digital transformation went from an optional—if you’re lucky—goal for companies to one that was a must for survival. For example, per a study by Gartner, COVID-19 moved digital collaboration tools from the ‘nice-to-have' column to the ‘must-have’ column as seen by the projected 14% increased revenue in these areas by 2022. This trend can be found again and again ..read more

It’s been a challenging year or so for companies in the construction and building industry. If you’re looking to recoup some losses and create a new revenue stream—we have the solution for you! The shortage in building supplies, particularly lumber, has left many companies searching for ways to balance out higher costs. For example, the U.S. Bureau of Labor Statistics found that prices for lumber rose 89.7% between April 2020 and April 2021. This is the largest 12-month advance since they began tracking this data in January 1927. Mark Young of a Wyoming-based western building supplier company ..read more

Are you tired of dealing with excessive paper-based processes in your AP department? It's easy to get fed up with searching through piles of paper invoices just to find the one you need to make a timely payment. The time you need to allocate towards organizing and filing the mounds of paper once you are done processing the invoice and making the payment is enough to motivate anyone to seek alternative ways to manage their AP process.  The good news: it's bever been easier to enable AP invoice-through-payment automation.  So, how does AP automation work? Don't worry. It's easier than ..read more

Although technology has made Accounts Payable (AP) payment automation a standard for many organizations, 60% of businesses in the United States are not aware of the countless benefits of AP automation. Leveraging software applications empowers you to apply the process in a manner that is seamless and effortless.   Here Are Our Top 5 Reasons To Automate: Cash Optimization Accounts Payable automation allows AP to project its pending cash requirements accurately — eliminating guesswork. With greater transparency in our payment portal, OnPay Connect, visibility into the process allows your ..read more

Is your invoice process a burden? Truth is, a wide swath of companies are waking up to the reality that their antiquated invoice processes are holding their accounts payable (AP) department back. They are looking for ways to better their account payable workflows and specifically their invoicing management.  Often, that means investing in tools that cut costs, save time, and increase their productivity overall.  Automated invoicing is the solution that will empower your AP team to focus on more valuable tasks by replacing your manual workflow with a more efficient and secure electro ..read more

Sweeping changes in processes can be a challenge to conceptualize and implement. Are you interested in automating your accounts payable (AP) department? It’s easier than you think! In this blog, we'll break down the two areas that benefit the most from automation. To discover more about AP automation best practices, check out our free and education AP guide.  The two key parts of AP automation are invoice automation and payment automation. Already know what they are? Jump to their sections, otherwise, keep reading for their definitions:  Invoice Automation Payment Automation What ..read more

Who doesn’t want to be on the cutting edge in their industry? In accounts payable (AP), that means being up to date on the latest and more innovative digital payment options. The right payment option results in a smooth and efficient procure to pay process and a more productive AP team. Today we’re going to focus on three innovative digital payments, options that you can enable via AP automation. To discover all your digital payment options, including the ones talked about here along with wire transfers and regular ACH, check out our expansive AP automation best practices guide.    ..read more

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