In this blog, we will explore the essential task of filling out receipt books, a foundational element of financial record-keeping for both small and large businesses. Documenting transactions in receipt books ensures accuracy in financial management, compliance with tax regulations, and the ability to resolve discrepancies with ease. We will walk you through the basics…

Procurement is a pivotal function for any business upon which the pillars of strategic sourcing and cost management rest. This is more than just buying; it's about acquiring goods and services in a way that optimizes value for an organization. Ultimately, understanding and refining this process is essential for steering your business towards more profitable…

OCR (Optical Character Recognition) is a game changer for anyone who works with PDF documents. PDFs are notorious for being difficult to edit and search through. When you OCR a PDF, it ensures the text is scanned and extracted, making it fully searchable, editable, and accessible.  In this guide, we will compare various methods of…

Smart entrepreneurs know the devil is in the details—particularly when it comes to financial clarity. At the heart of such clarity is the strategic step of categorizing business expenses. This means meticulously sorting every dollar spent into clearly defined buckets, enabling a bird's eye view of where funds flow. In this blog, we're diving into…

Accounts payable and spend management platforms are a tricky selection to make; many offer a range of services that can either be “too much” or “too little” for your business, depending on your needs. At the same time, though, there’s a glut of information available that makes determining the best platform for your needs a…

Small and medium-sized company users of Microsoft Business Central ERPs need to apply artificial intelligence for efficiencies, vendor invoice processing workflow automation, and decision-making related to accounts payable and business spending.  To achieve these goals, what’s available in Business Central accounts payable, and what’s lacking in Microsoft AP? How does your business find a solution…

ICFR is more than a "check the block" exercise; effective and quality ICFR describes an entire ethos of financial transparency and accountability. ICFR runs the gamut of control systems and processes a company takes to ensure the validity of its financial statements and stay out of hot water with regulators, investors, and stakeholders. While ICFR…

Accounts payables teams used to be surrounded by too-full filing cabinets, stacks of paper receipts, and checkbooks. All the manual work involved in the procurement process meant that AP experts, no matter what organization they worked for, had to do a lot of the heavy lifting on their own. They had to process invoices, verify…

What is an ERP and Why Do ERPs Get Integrated? An Enterprise Resource Planning (ERP) system is a platform that acts as the centralized hub of your business’s data. It captures new sales, tracks inventory, and monitors financial transactions, and provides key data to decision-makers in most functions. When ERPs first started becoming popular in…