As a business, you will have multiple vendors, and their numbers will grow as you expand. While it may be easy to manage them initially, managing vendors and their relevant information is bound to become more difficult with time. In such a case, you need advanced...
The pandemic changed a lot of things about the way the world operates. While day-to-day operations became difficult, industries worldwide came up with new means and methods to keep functioning. When people could not leave their houses, digital and technological tools...
In today’s market, transparency is very highly valued. In an accounts payable department, efficiency is of utmost importance, but so is transparency. It ensures that everyone who needs to know about the data gets to know about it. While that is a simple explanation,...
Invoices are documents that tell a business who is to be paid and when they need to be paid. Invoices that businesses issue make sure that they are paid within the given time. However, if you feel that your company’s buyers don’t pay on time or you need payments to be...
Discounts are the saving grace for a buyer. They are hard to ask for, but they are equally hard to understand. There’s a lot of math involved in availing discounts, which you should understand well to get the best of the deal that has been provided to you. This...
The accounts payable department is the heart and soul of a business. The importance of AP is exactly what makes it the prime target of fraudulent actions. This fraud can come from various areas, inside the business and outside the business, unintentional or...