5 Best Practices For Managing Accounts Receivable

When it comes to your receivable department, management is key. Everything needs to be streamlined and efficient so there are no issues. However, managing accounts receivable can be tricky if you don’t follow these five best practices.

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How Accounts Payable Automation Solves Paper-Based Challenges

Accounts payable automation is being embraced by companies of all sizes. Most businesses rely on their AP department for all financial transactions, invoices and bookkeeping. However, your AP department is drowning in paperwork. With too many paper-based challenges facing them daily, you can make their jobs a little easier with AP automation. Here’s why: Paper takes up space As businesses move towards greener initiatives, they’re often left wondering what to do with the boxes upon boxes of paper they rely on.

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The Information Lifecycle: When to Scan, Store and Destroy

The information lifecycle is what businesses rely on to know how to manage document workflow. When a task comes in, it’s scanned and stored. But, how do you know when a document can be put into the shredder? With a workflow document management system you’ll know exactly how to take control of the information lifecycle. What is workflow document management? This is a system designed to produce, edit, track, manage and store digital documents.

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PDF Or TIFF: Which Format Is Better For Document Scanning

Companies of all sizes work with documents that need to be scanned, archived and stored. To create a digital version of your documents for storage, you need to ensure they are properly formatted. Two of the best and most widely used digital document formats are PDF and TIFF. Both formats have their pros and cons for document imaging and to help you determine which format is best for document scanning, we’ve created a thorough table.

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How Invoicing Has Changed For Businesses

Businesses of all sizes use invoicing systems. Whether it is to transfer payment to a supplier, or vice versa, B2B invoicing has changed in the last decade to allow for better, faster and more secure solutions. From paperless solutions, to the demise of the fax machine, here’s how invoicing has changed for businesses: Turning To Paperless Solutions Electronic storage saves space, which is why many companies are turning to paperless options when it comes to their invoicing systems.

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