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…

Among finance professionals and business leaders, AP automation is quickly shifting from an exploratory endeavor to a key strategic priority. By streamlining the accounts payable cycle with Artificial Intelligence and automation-centric tools, AP teams can reap the benefits of airtight data accuracy, seamless invoice processing, and downstream collaboration with other teams or business processes. AP…

NetSuite modules and add-on software expand the functionality of NetSuite ERP, allowing users to optionally choose only those NetSuite add-on modules and add-ons that fit their business.  Although types of ERP systems vary, NetSuite is primarily software for a small business or a mid-market company that includes accounting. Oracle NetSuite is a cloud-based ERP system…

Intercompany reconciliation is specific to companies with multiple subsidiaries under the same parent group. It's a crucial step in the intercompany accounting process and for preparing a consolidated statement for financial reporting. Intercompany accounting is significantly more complicated than standard accounting since it requires balancing multiple ledgers, tracking internal/external transactions, forex conversion, performing intercompany eliminations…