Query management in accounts payable refers to the systematic handling of enquiries and disputes related to invoices, payments, and other financial transactions. These queries can come from suppliers, internal departments, or other stakeholders. They may involve issues such as payment discrepancies, missing invoices, or clarification on payment terms. In a modern accounts payable environment, query […]

The Order-to-Cash (O2C) cycle is crucial for maintaining healthy cash flow and ensuring business operations run smoothly. However, inefficiencies in this process can lead to delays, lost revenue, and customer dissatisfaction. Here are seven signs that your O2C process may be deficient and in need of improvement. 7 Red Flags To Watch For In Your

A purchase order (PO) is a critical document in procurement, formalising the agreement between a buyer and a supplier. It clearly defines what the buyer intends to purchase, including quantities, prices, and delivery terms. Here’s a breakdown of how to create a purchase order. How To Create a Purchase Order 1. Identify the Need The

Our poll results indicate a significant shift toward automation in accounts payable, with over half of the respondents already utilising automated processing. This trend reflects the growing recognition of the benefits that automation brings to accounts payable, including increased efficiency, accuracy, and visibility. For those businesses still on the path to automation or relying on

Accounts payable uses multiple internal control processes to verify and approve invoices. One of the methods is three way matching. This process involves matching three key documents together: the purchase order (PO), the receiving report, and the supplier’s invoice. In this blog, we look into how it actually works so that we can understand its

In this article, we outline how to calculate the cash conversion cycle (CCC), identifying the three key components and what a short and long CCC means for your business. Managing cash flow is very important to gauge the financial health of any business. So, how can a business measure the success of their cash flow