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...
An early bird gets all the worms. In this case, an early buyer gets all the discounts. Discounts are a ray of hope to small and medium businesses, which let them compete with the large companies in the market. Early payment or dynamic discounting is a good way to make...
Running a business is an extremely challenging task. You need to manage a lot of different stakeholders, and you have to keep track of all the different vendors who work with you. Without the right tools and technology, it can be nearly impossible to manage everything...