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The Importance of Audit Trail Importance and How Digital Document Storage Can Help
Accurate records are more than a good idea for companies: they’re essential. Missing documents create breaks in audit trails, which can lead to significant issues for your company. Best-case scenario, it’s a hassle for employees. Worst-case scenario, missing documents found […]
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3 Things You Need to Know About the Ways Accounts Payable Automation Helps Simplify Audits
Audits are something no one looks forward to. We know how valuable audits can be as an internal tool for evaluating business processes, but that doesn’t make them fun. We also know external audits are a possibility that companies would […]
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Are You Facing an Audit? Ease the Pain with a Web-based BPA Solution
The auditors are coming, the auditors are coming! A widespread panic suddenly shoots across the psyche of your entire organization. But guess what? It doesn’t need to. No matter what you do, having auditors come in to ensure your company […]
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Here Are The Ways That Accounts Payable Affects Your Whole Company
It’s easy to think of accounts payable as nothing more than the department where money leaves your company to pay for goods and services. It’s not very glamorous or exciting. On the surface, it might not even seem that important […]
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Is There Expense Report Fraud Hiding in Your Company? Here’s How to Detect and Prevent Fraudulent Reimbursements That Will Cost You Money
All businesses want to reward and compensate their employees for their hard work. Part of that involves an expense reimbursement policy that ensures employees are not stuck paying for any work-related expenses on their own. Unfortunately, sometimes employees will try […]
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How To Overcome Your Most Common Problems In Paper-Based Accounts Payable Processes
More businesses make the move to electronic invoices and automatic accounts payable every day. There’s a good reason for this. Paper processing is so cumbersome that more than 30% of accounts payable managers can’t even answer how much it costs […]
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3 Deadly Purchasing Pitfalls to Avoid
When looking at the procure to pay process of a company, a lot of companies will focus on the payment side of the equation. Accounts payable and cash flow are both definitely important. However, purchasing is a critically relevant department that […]
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The Metric That Is Costing You Money and How to Fix It
Maintaining a good accounts payable turnover ratio is a delicate balance of efficiency, cash management, and vendor terms. Also called the Accounts Payable Days Formula or simply “Creditor Days”, this is a formula to calculate a “turn”-the number of AP […]
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