The average accounts payable workflow is embroiled by a repetitive and time-consuming process. With an automated solution, it allows businesses to better utilize and allocate their resources to maximize business efficiency. Lack of visibility increases the risk of errors and lost invoices which further increases the cost to process an invoice. Accounts payable departments are… Continue reading What Are the Best Practices to Automate Your Accounts Payable?
OCR (Optical Character Recognition) works by converting images of handwritten or printed text into machine-encoded text. This text is made readable by machines and aims to automate data extraction through data capture technology. While this technology is used widely today, it does require some manual effort in order to produce the highest amount of accuracy,… Continue reading Can OCR Automate Your Invoice and Utility Bill Processing?
Organizations are taking the initiative to collect data on utility consumption in order to provide sustainability reports to help improve their impact on society. The majority of the large cities in the US have different benchmarking ordinances that require large commercial, industrial, and multi-family properties to report their benchmarking compliance statistics. One of the challenges… Continue reading How to Streamline Utility Consumption and Sustainability Reporting
Data entry is the most commonly implemented method of utility bill processing. However, traditional data entry methods are incredibly inefficient. While there have been improvements over time, many businesses are still inefficiently entering utility bills by hand. This slow and redundant process has a higher likelihood for errors and a slower cycle time increases the… Continue reading Top 5 Technologies Impacting Utility Bill Processing
Businesses, especially ones that operate multiple buildings and facilities, know that utility expenses account for a fair amount of their overall operating costs. In addition, manually processing these utility bills is time-consuming and runs the risk of errors which can end up adding additional fees. Automating utility bill processing streamlines your process for efficient utility… Continue reading How Does Automating Utility Bill Processing Provide Business Value?
The need for data has been rising in demand for utility and sustainability providers. Utility data provides important historical and trend data that allows businesses to analyze and forecast usage as well as flag any discrepancies that may arise in a bill. As a result, there is increasing pressure for these companies to build a… Continue reading What Are the Challenges of Utility Data Collection?
One of the biggest challenges of invoice processing is the time consuming in-house process which requires multiple users to enter data into various document management and software systems. Invoices need to be received, reviewed, and approved before payments can be made making turnaround time and accuracy very important. So how does outsourcing accounts payable automation services improve your… Continue reading How Does Accounts Payable Automation Improve Invoice Processing?
The technological age demands businesses to constantly increase efficiency when it comes to accuracy, quality, and productivity. Paper forms and applications are still being used in many industries such as the financial, medical, and legal industry. Two of the most common challenges of application form processing is efficiency and accuracy.
As the pharmaceutical industry continues on a growth trend, there is a higher demand for innovation, research, and development. In order to cut costs and improve productivity, many companies choose pharmaceutical outsourcing for various back-end data related processes.
Rebates and sweepstakes contests are great promotional tools to acquire new customers and retain current customers. Businesses often choose to outsource this labor-intensive back end process to a rebate processing company to efficiently streamline and decrease cycle time.