January 2021 — The stakes have never been higher for automating the accounts payable process. The operational disruption caused by the shift to work from home, combined with the mounting pressure to provide senior management with visibility into cashflow and spending, has become the impetus and in some instances...
January 2021 — As a process consultant at Efima, Jesse Ahokas helps companies streamline their financial processes. In the following blog, Jesse shares his insights into the purchase-to-pay process and tips on how companies can gain greater efficiencies.
January 2021 — Let’s face it. 2020 was a totally unexpected and challenging year, to say the least. As we head into 2021, it’s a time to not only evaluate how we’ve faired but also to reassess what we’ve been doing and where we should be heading from here.
November 2020 — As the role of AP is increasing in importance to finance, we sat down with Robert Cohen, Vice President of Research for research and advisory firm Ardent Partners, to talk about what’s behind this trend, what’s on the minds of CFOs and how companies can best leverage AP analytics in their...
July 2020 — 82% of executives at mid-market companies admit that digital transformation is shaking up their core business operations. We live in a digitally-driven, innovation-centric, and competition-heavy ecosystem. Supply chains are being reforged by the ever-growing complexity of Industry 4.0 and...
May 2020 — Fraud is a growing concern for businesses around the world. According to the 2020 AFP Payments Fraud & Control Survey, 81 percent of businesses indicated that they experienced payments fraud in 2019. Accounts Payable (AP) is particularly vulnerable to fraud because it’s where invoices are approved...
March 2020 — Recently, Barbara Corcoran, a TV celebrity on Shark Tank known for her business acumen, fell prey to an email phishing/fraudulent invoice scheme that initially cost the company $380,000 (She ended up getting the money back). This highlights how fraud “could happen to anyone,” and unfortunately it...
October 2020 — Your organization's accounts payable department is a manifestation of your financial dexterity. When AP flows like water, your procure-to-pay stands...
June 2022 — *UPDATED June 2022* In 2021 Microsoft made a set of invoice automation capabilities in its standard Dynamics 365 Finance product. These new features...
November 2021 — Machine learning is a powerful type of artificial intelligence (AI) that relies on algorithms and patterns in data to optimize and improve outcomes.
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