process improvement

What is a one-click approval workflow? Well, it’s pretty much as simple as it sounds. One-click approval workflow is productivity at its finest. Managers or purchasing supervisors are able to approve or decline a company purchase with a tap of their finger. Instead of going through the long and tedious traditional approval workflow of cross-communicating […]

What is 3-way matching? Essentially, 3-way matching is a process in accounting in which a company verifies that a purchase order (PO), supplier invoice, and goods receipt all reflect the same products and pricing. If the numbers are consistent throughout each document, wah-lah! You’ve got yourself a 3-way match! With the green light of a […]

Business success demands effective decision-making, on-time reporting, and accurate data entry. Still, sometimes errors enter the system—and poor invoice processing is a primary reason. Users may not discover inaccuracies caused by an incorrectly processed invoice until they prepare the accounts payable (AP) trial balance. This leads to late reporting and delayed decisions. If no one […]