Applexus

In the digital era, it’s very challenging to maintain compliance with legal and taxation protocols without putting in place an automated AP process. With manual or partially automated invoice processing, the AP team has a tall task in entering and verifying all the invoice data into the AP system while ensuring reliability, consistency, and efficiency. 71% of companies reported manual data entry and inefficient AP processes as one of their top pain points -  Levvel's Payables Insight Report  1 Understanding the Accounts Payables process and implementing best practices is crucial in tackling compliance issues within your invoice processing cycle. Not only that but addressing such problems also leads to savings that improve your bottom line. During an audit, the last thing you want is not to know where an invoice and its supporting documents are stored or see erroneous payments that don’t correspond to a genuine invoice. Being compliant means your Accounts Payable (AP) team shou...

During my career advising finance organizations on their transformation programs, the CFO’s role has evolved. Traditionally the job was to protect the assets of the company and meet statutory reporting and compliance requirements. Now in addition to that, CFOs are required to be the primary sponsor responsible for a   company’s digital transformation.   Considering the rapidly changing technology landscape, this is not an easy undertaking. CFOs are overwhelmed by hundreds of technology acronyms thrown around at summits, by research organizations, and IT professionals. Consulting firms now more than ever are aggressively selling software solutions and telling Finance how to run their own business. Most CFOs have been scarred by technology implementations of the past which have not provided the promised ROI, and as a result they may no longer share a common vision and understanding with their CIO. If this situation resonates, you will find my series of blogs a useful guide to he...

  In today's automated and digitally transformed world, any business can make the backend processes of the Accounts Payable (AP) team even more seamless by integrating a Supplier Collaboration Portal on their end. The inbuilt automation and other secondary features in the portal will make it easier for the AP team to connect and manage their 3rd party suppliers. A secure Supplier Collaboration portal with its user-friendly interface, Artificial Intelligence (AI), and personalized workflows will make it easier to collaborate with the suppliers. The AP team would no longer need to waste hours in manual processes; they could instead invest their time in more valuable activities. "Companies with advanced supplier collaboration capabilities do around 4.9% better than their peers without one" – McKinsey Let's do an in-depth deep dive into what a Supplier Collaboration Portal can do for your business’s, Accounts Payable department, and how incorporating one can transform the...