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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. Despite these pressures, finance leaders looking to staff up are facing difficulties. Almost half anticipate hiring challenges or delays.

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How to Improve the NetSuite Invoice Approval Workflow

MineralTree

From manually inputting invoice data to chasing down approvers for signatures, a traditional paper-based approval process contains many time-consuming, manual steps that slow down payments and sap resources. Automating invoice approvals with NetSuite in this way boosts accuracy and efficiency.

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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
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“Slow approvals cost more than time – they cost growth” warns AccountsIQ CEO as company tackles industry approval delays

Accounting Insight

To counteract this, AccountsIQ has introduced its new Workflow Approval Engine, designed to help businesses streamline approvals, improve compliance, and gain full visibility over financial workflows. Darren Cran, CEO of AccountsIQ, commented: Slow approvals cost more than time; they cost growth.

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Increasing Productivity in Finance

MineralTree

Today’s fast-paced business landscape demands unprecedented levels of efficiency and accuracy, especially in the finance sector. Under the finance umbrella, accounts payable (AP) is particularly ripe for digitalization, with the potential to streamline operations and enhance efficiency.

Finance 78
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Modulr acquires accounts payable automation disruptor Nook

Accounting Insight

Today’s businesses often have no choice but to use multiple platforms to manage their financial operations, from paying supplier invoices to processing payroll, managing treasury, and accessing finance. For instance, 60% of large companies use at least five separate systems just for accounts payable.

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How to create effective business expense reports.

Airbase

As businesses navigate the complexities of modern finance, the role of expense reports is an integral component essential to informed decision-making and sustainable growth. When they submit expense reports with incorrect categories, it falls to the finance team to resolve discrepancies. For a long time, finance teams faced a dilemma.