Accounting processes for a business primarily comprise accounts payable and accounts receivable for the company. Accounts payable track to whom the business owes money. Businesses owe money to vendors and suppliers for business expenses. Read More
In the Q4 2021 Deloitte CFO Signalssurvey, 34% of Finance executives indicated that they expect to increase the use of outsourcing in their operations. Outsourcing the Account Payables process helps companies achieve cost optimization while ensuring operational efficiency and accurate invoice processing. Read More
The Accounts payable industry is expected to achieve significant advancements in 2023 owing to the latest technological developments. Here is a study of how the industry is expected to advance. Read More
Accounts payable is the most complex and tedious of all the branches of accounting. Every aspect of the process flow, from invoice generation to payment processing, requires accuracy and precision. Moreover, any errors in the Accounts Payable process can cost the firm a vast amount of resources and may even lead to financial discrepancies. Read More
The accounts payable departments are one of the most vulnerable to frauds across processing ends. In 2021, some businesses across the U.S. had incorrectly in their accounts payable department provide a corporate checking account number to a fraudster posing as a vendor via a well-disguised email.Read More
Claims handling and processing are colossal tasks handled by an insurance company. The insurance process goes through a series of events such as review, investigation, reconciliation and settlement of claims. Read More
Working and managing a law firm is a tedious task. Spending hours doing work inefficiently reduces the focus of the clients and also profitability. Sometimes the help that a law firm needs is for small tasks like invoice processing, paying bills or recording receipts. Read More
Insurance companies witness a pool of hefty paperwork needed to accomplish daily tasks. Numerous tasks, such as data entry, insurance claims and underwriting, are prone to inefficiencies from manual errors. Read More
One of the most redundant tasks performed by the insurance sector is processing countless documents daily. The tedious data-entry work associated with this is susceptible to errors. Read More
In client-centric sectors such as the insurance sector, data accuracy is critical. Insurance companies use advanced technological tools such as software robotics, machine learning, artificial intelligence, advanced automation and robotic process automation, among other techniques, to run efficient processes. Read More
