The three way matching process is a critical internal control mechanism in accounts payable that ensures that payments are made only for goods and services that have been properly ordered and received. This process involves matching the purchase order (PO), the goods receipt, and the supplier’s invoice. While three way matching helps prevent fraud and […]

Transitioning to e-invoicing can bring significant benefits to your business, including improved efficiency, reduced costs, and faster payments. However, the process of switching from traditional paper-based invoicing to electronic invoicing (e-invoicing) can be complex and fraught with potential pitfalls. To ensure a smooth transition and maximise the benefits of electronic invoicing, it’s crucial to avoid

In this article, we look at what factors are important when selecting a document creation workflow solution. Creation workflows streamline the management and approval of documents within a business. They help reduce manual effort, minimise errors, and ensure that documents adhere to business standards and regulatory requirements for various types of documents. Whether the documents

The cash conversion cycle (CCC) is a crucial metric for any business. It measures the time taken to convert inventory and other resources into cash flow from sales. Efficient management of this cycle can significantly enhance a company’s liquidity and financial health. A key component of the CCC is accounts receivable (AR), which represents the

Running a business comes with countless responsibilities, one of which is ensuring that invoices are delivered promptly and accurately. Unfortunately, many companies still struggle with manual invoice delivery processes, leading to delays, errors, and frustrated customers. Imagine the impact on your cash flow and customer satisfaction if you could automate this process seamlessly. Enter delivery

In this article, we look at what factors are important when selecting a document cancellation workflow solution. Cancellation workflows manage the process of cancelling, suppressing, holding, or re-sending documents within a business. These solutions help maintain data integrity, ensure compliance with regulations, and provide a clear audit trail for all document-related actions. As organisations move