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Vendor Reconciliation Process in Accounts Payable

UncategorisedJune 19, 202493Views 0Likes 0Comments

What is the Vendor Reconciliation Process in Accounts Payable Vendor reconciliation is a critical practice in accounts payable to ensure the completeness and accuracy of vendor payments. Before making payments to vendors, it"s essential to check that the vendor bills the company the correct amount. Accounts payable teams must reconcile payments regularly to avoid double-processing…

What is an expense claim & how to automate the expense claim process?

UncategorisedJune 19, 202488Views 0Likes 0Comments

Did you know that processing an expense report for an overnight hotel stay can take up to 20 minutes and cost an average of $58? According to a GBTA report, out-of-pocket costs an employee has paid expense reports contains errors or missing information, costing an additional $52 and 18 minutes to correct each. Now consider…

Understanding Account Reconciliation in Accounting

UncategorisedJune 18, 2024107Views 0Likes 0Comments

Introduction to Account Reconciliation Account reconciliation is the critical process of comparing your general ledger with internal and external sources. Each balance should match its corresponding entry in the general ledger for any source. Matching and validating entries would mean data consolidation across sub-ledgers, vendor invoices, bank statements, receipts, and account receivables to ensure timely…

5 key elements of an effective procurement strategy

UncategorisedJune 17, 2024123Views 0Likes 0Comments

It is abundantly clear today that the procurement team or function of any business needs to play a strategic role rather than an operational role. Procurement teams delivering a strategic role report (2.4X) higher ROI than teams without. In this article, we’ll delve into 5 key elements that most procurement strategies would benefit from. What…

Purchase Order Management: Steps, Benefits, Automation

UncategorisedJune 15, 2024100Views 0Likes 0Comments

Whether you're a small business or a large corporation, implementing effective purchase order management can make a significant difference in your operations. In this blog, we'll walk through what purchase order management is, why it is important, how to implement it effectively, how to automate it using technology. What is Purchase Order…

Future AI backend processing : Leveraging Flask Python on Firebase Cloud Functions | by Surahutomo Aziz Pradana

Human AiJune 15, 202495Views 0Likes 0Comments

Welcome, Firebase enthusiasts! Today, we’re venturing into the realm of serverless computing that can be integrated with AI using Python language to explore the wonders of cloud functions with Python, specifically with Firebase Cloud Functions. These functions offer a seamless way to execute code in response to various triggers, all without the hassle of managing…

The Future of Consumer Packaging

IoTJune 14, 202498Views 0Likes 0Comments

Packaging personalization is out of reach for most companies — it’s too expensive and time-consuming. However, artificial intelligence can make it more accessible. Numerous industries can use it to elevate their current offerings, affecting customer satisfaction, return rates and material waste. Could AI permanently impact consumer packaging? How Can AI Personalize Consumer Packaging? Businesses…

A Guide to Accounts Payable in D364 Business Central

UncategorisedJune 14, 202495Views 0Likes 0Comments

Efficient management and juggling your business’s Accounts Payable (AP) is one of those accounting tasks that goes unnoticed by most – until there’s a problem. But effective AP management is key for a business’s financial health, helping balance cash flow with maintaining positive vendor or supplier relationships. Likewise, there’s more to the term “AP processes”…

Procure-to-Pay Process & how to optimize P2P Cycle

NanonetsJune 14, 2024117Views 0Likes 0Comments

Businesses today purchase various kinds of goods and services for different purposes. The procure-to-pay process encompasses all processes involved in the entire lifecycle of purchasing goods and services. From initial requisition to final payment, this process involves multiple stakeholders with complex workflows and necessitates significant financial checks and control over itself. Having a well-defined procure-to-pay…

Unlocking Data Insights: Key Pandas Functions for Effective Analysis

Data AnalyticsJune 14, 2024102Views 0Likes 0Comments

Image by Author | Midjourney & Canva Pandas offers various functions that enable users to clean and analyze data. In this article, we will get into some of the key Pandas functions necessary for extracting valuable insights from your data. These functions will equip you with the skills needed to transform raw data into…