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Strategies to Improve Your Accounts Payable Process

Strategies to Improve Your Accounts Payable Process

No matter what industry you’re in or how large or small your company is, maintaining an efficient accounts payable process is crucial for your organization’s financial health and operational success. An effective AP (accounts payable) process ensures timely payments to vendors, reduces errors and maintains strong vendor relationships. 

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Hilton Sandestin Realizes Significant Time Savings Using Automated Payments

Hilton Sandestin Realizes Significant Time Savings Using Automated Payments

Have you considered what goes into keeping a hotel running smoothly? There are a lot of moving pieces happening behind the scenes. Food and beverage, linens, groundskeeping, security, entertainment—no matter the property size or number of locations, hundreds of vendors possibly need to be paid monthly.

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How 3-Way Matching Benefits Your Accounts Payable Process

How 3-Way Matching Benefits Your Accounts Payable Process

Efficient financial management is the backbone of any successful business, and at the heart of this management lies the accounts payable (AP) process. Within this process, 3-way matching serves as a crucial mechanism for ensuring financial accuracy and fraud prevention. 

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Different Consumer Payment Types and the Pros and Cons for Each

Different Consumer Payment Types and the Pros and Cons for Each

Consumer payment preferences are rapidly shifting as technology continues to advance. Offering a variety of payment options is not just a convenience — it’s a necessity for businesses aiming to stay competitive. As consumers increasingly expect seamless, secure transactions, understanding different payment types becomes essential to meet these demands.

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The Challenges of AP Hiring and How Automation Can Help

The Challenges of AP Hiring and How Automation Can Help

Here’s a familiar scenario: A busy accounts payable manager is facing a stack of invoices piling up on their desk. Despite their best efforts, the sheer volume of work often leads to mistakes, delayed payments and frustrated vendors. But they can’t find the right people to fill out their team and ease the load. They can only hope for some form of AP automation to help.

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Regulatory Compliance Challenges in Modern Lending Practices

Regulatory Compliance Challenges in Modern Lending Practices

In a dynamic lending environment, the pressure to stay compliant with regulatory requirements is greater than ever. With the rapid evolution of financial technologies and a complex web of regulations, lenders are challenged to maintain compliance without sacrificing efficiency. 

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How to Avoid Becoming a Victim of Illegitimate Vendors

How to Avoid Becoming a Victim of Illegitimate Vendors

Invoices constantly flow in and out of businesses, with larger companies sometimes receiving hundreds daily. Fraudsters are aware of the chaos, seeking opportunities to infiltrate a business without suspicion. Accounts payable (AP) and accounts receivable (AR) teams can easily fall victim to illegitimate vendors, as the tactics fraudsters use are constantly evolving.

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Evolving Trends in Digital Wallets and the Impact on Collections and Cash Flow

Evolving Trends in Digital Wallets and the Impact on Collections and Cash Flow

In a digital world, consumers increasingly rely on digital wallets for their payment needs. From Apple Pay® to Google Pay™ to PayPal, these solutions offer convenience and security, allowing users to make transactions with just a few taps on their smartphones. 

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The Small Dollar Lending Rule: What Lenders Need to Know

The Small Dollar Lending Rule: What Lenders Need to Know

The Small Dollar Lending Rule, established by the Consumer Financial Protection Bureau (CFPB), aims to protect consumers from the potentially harmful practices associated with payday loans, vehicle title loans, deposit advance products, and certain high-cost installment loans.

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Addressing the Complexities of Vendor Payments

Addressing the Complexities of Vendor Payments

In a fast-paced business environment, efficient accounts payable (AP) processes are crucial for maintaining smooth operations and healthy financial management. When correctly managed, you can ensure timely payments to vendors, optimize cash flow and prevent costly disruptions. 

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