Optical character recognition (OCR) software help convert non-editable document formats such as PDFs, images, or paper documents into machine-readable formats that are editable & searchable. OCR applications are commonly used to capture text from PDFs & images and convert the text into editable formats such as Word, Excel, or a plain text file. OCR…

What is Data Reconciliation? Data reconciliation is an essential process that involves comparing multiple sets of data to identify and rectify discrepancies, ensuring data accuracy and consistency across various business operations. This process is vital for a myriad of functions, such as reconciling invoices with the general ledger, and extends to numerous other business processes…

QuickBooks is an accounting software package designed to help small and medium-sized businesses manage their finances. The software is user-friendly and intuitive, making it easy for business owners to handle their accounting needs without needing to be an accounting expert. Additionally, QuickBooks can be integrated with other software packages, allowing businesses to automate many of…

Finance teams are well aware of the tedious and error-prone nature of manual accounts payable processes. Sorting through stacks of paper invoices, reaching out to approvers individually, and mailing checks are extremely tedious and error-prone. This could also lead to late payments or in some cases potential vendor fraud. Today, you can automate these processes using…

Introduction Cash reconciliation remains a critical process in today’s retail environment, despite the shift from traditional cash registers to advanced point-of-sale (POS) systems. This crucial accounting task involves verifying that the cash received from sales aligns with the transactions recorded, ensuring financial accuracy. Conducted typically at the close of a shift or business day, cash…

In the bustling world of business, managing accounts payable and invoice processing manually is becoming more and more challenging. The challenges are numerous: painstakingly slow manual data entry ever-present risk of human error lack of efficiency in the approval process Businesses are constantly seeking ways to streamline these critical operations. Today, AP automation…

The travel industry often struggles with long processing times at check-in and security, causing congestion. Manual verification of IDs and travel documents is time-consuming. Immigration officers have difficulty quickly validating identities and spotting fraudulent documents when manually reviewing visas and passports. Airlines endure tedious data entry work extracting information from paper tickets and forms, increasing…

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…