Remove accounting and finance Remove AP Processes Remove Finance
article thumbnail

As Businesses Shift Focus to Efficiency, Finance Teams Must Find Ways to Do More with Less in AP

CPA Practice

As a result, finance leaders find their departments squarely in the spotlight—keeping a closer eye on their balance sheets, taking fewer risks, and focusing more on efficiency and value over growth. Accounts Payable (AP), in particular, has become ground zero as liquidity and cash flow become even more indispensable.

article thumbnail

4 Priorities for Finance Teams in Late 2023

CPA Practice

The lingering (although receding) risk of a recession, stubborn inflation trends, economic policy debates, and geopolitical instability all create challenges for businesses and their finance teams. This unpredictability requires businesses to ensure maximum efficiency in their finance operations.

Finance 98
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Increasing Productivity in Finance

MineralTree

Today’s fast-paced business landscape demands unprecedented levels of efficiency and accuracy, especially in the finance sector. To keep pace with these changes, it’s imperative for financial functions to rethink their processes to boost productivity.

Finance 78
article thumbnail

How to Improve Efficiency Across the Finance Department

MineralTree

Maintaining finance department efficiency is a constant challenge, especially for teams that rely on legacy technology and manual processes. The good news is that technological advancements have made it possible for finance departments to increase productivity and to do more with less. What are the Challenges in Finance?

Finance 91
article thumbnail

Don’t be hurt by the shortage of accountants. Give them what they need.

Airbase

Is your finance team getting the love and attention they deserve? Typically overworked and underappreciated, finance teams are a serious flight risk. In fact, the Wall Street Journal reports that more than 300,000 accountants and auditors quit over the last two years, and the effects of those losses can be significant.

article thumbnail

Modernizing Money Management: The Shift from Manual to Automated AP Processes

CPA Practice

Goldman Sachs recently estimated that automating Accounts Payable processes can result in time savings of 70-80% for small and medium-sized businesses. Efficient accounts payable (AP) processes are crucial for maintaining a healthy cash flow and fostering strong relationships with suppliers. By Laurent Charpentier.

article thumbnail

The major benefits of AP Automation.

Airbase

Accounts payable (AP) refers to the series of steps that companies take to pay their bills. It requires the safe handling and recording of funds transferring from the company’s bank account to suppliers and vendors. Table of Contents FirstHeading What is AP automation? Using AP automation software.