Category: Accounting Technology

Building a Business Case for AP Automation

Every year, North American businesses spend in the neighborhood of $187 billion on accounts payable (AP) processing. But innovative financial management tools are on the rise, and they come with lower costs and bigger payoffs. Top-performing companies are adopting solutions such as accounts payable automation (AP automation) to streamline payment processes while increasing efficiency and decision making for…

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The Top 5 Obstacles Slowing Down Your Close

It’s 8 p.m. and your finance team is scrambling to close the books. They skipped dinner yet again to work on another round of last-minute reconciliations so they can tie out the balance sheet numbers. Closing the books at the end of a financial period is an uphill battle for almost everyone. But knowing what…

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Going Paperless: 7 Ways to Automate Your Nonprofit’s Finance Department

Paperless automation delivers many important benefits to nonprofit finance teams, from real-time financial visibility to increased efficiency to more accurate forecasting and planning. Cloud financial management systems enable multiple users to view and collaborate on data from anywhere, at any time. Financial automation can transform nonprofits from reactive and slow-to-adapt organizations into proactive, future-ready, and…

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What’s the Difference Between Sage Intacct and QuickBooks for Nonprofits?

Like more than 80% of small businesses, many nonprofits begin their financial lives using Intuit® QuickBooks® to manage accounting. It’s easy to use, well known, and offers entry-level accounting functionality at an affordable price. But as these organizations grow, they often face significant challenges and hidden costs as they hit the limits of QuickBooks’ functionality….

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2021 Release 2 Highlights: Heightened Visibility and Flexibility across Sage Intacct

Release 2 is now live for 2021. We’re excited to bring you this feature-packed update with new functionality that delivers heightened visibility and flexibility across Sage Intacct. A few of the exciting highlights include: Saving time reconciling with matching rule automation Efficiently managing the close process with improved checklists and visibility into close status Gaining…

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Vic.ai Transforms Approval Management with Ground-Breaking Autonomous Approval Flows

Vic.ai, the AI (artificial intelligence) platform for accounting productivity, recently announced a brand new feature, Autonomous Approval Flows —  introducing a first-of-its-kind approval matrix that streamlines the previously inefficient and error-prone approval process. The pairing of Vic.ai’s existing Autopilot feature and Autonomous Approval Flows allows both invoice and approval activity to be fully automated with…

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How AI Automates Approvals for Small and Medium-Sized Organizations

For small and medium-sized businesses, automating approvals can be difficult since there are usually no efficient systems in place for handling approvals in the first place. Inherent Problems with Manual Approvals If you don’t have a technology platform that can receive, extract, and understand incoming costs, a human needs to step into that role. The…

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2021 Nonprofit Technology Trends Report

Last year, the 2020 Nonprofit Technology Trends Report provided insight into how nonprofits leverage technology to achieve their mission. When the results were published in February 2020, we had no idea how our world would be turned upside down just one month later. The global pandemic and the subsequent health and economic impacts have forced…

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Taming Your Nonprofit Chart of Accounts with Dimensions

Is your nonprofit dealing with an ever-multiplying Chart of Accounts (COA) just to get at the metrics behind transactions? Without the right accounting software, many nonprofits find it difficult to sift through unwieldy COAs with thousands of unique account numbers to decide which account to use, fix errors during close, or create reports. Most traditional…

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Six Ways You Can Mess Up Your Accounts Payable Workflow

Today, automation technology is one of the inevitable technical trends for companies wanting to improve their efficiency and agility in a complex and competitive economic environment. The reasons are clear, including cost reduction, process optimization, data security, regulatory compliance, and many more. If you are considering automating your invoice payment processing (AP) workflows, or are…

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Getting Started with Enterprise Risk Management, A Guide for Nonprofits