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    March 1, 2018

    Why To Keep Your Focus Internally When Determining AP/AR Costs

    Often you hear about large potential savings within your organization’s AP/AR processes. We also know that individual processes, invoice quantities, resources, and numerous other variables can contribute to determining the true savings of improving on outdated invoice processes across different businesses and industries.   In the world of Accounts Payable there are several ways an[...]
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    February 27, 2018

    The Dunning Process & How It Can Be Avoided

    Dunning, or the dunning process, is term that represents the steps taken to communicate with customers about collecting accounts receivable payments. “Dunning” is derived from a 17th century verb (dun) which means demanding payment of a debt. As accounts become more and more overdue, this process can become increasingly invasive. That being said, countries do[...]
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    February 20, 2018

    Machine Learning & How It Helps Automate The Invoicing Process

    What is machine learning? In an article by SaS, machine learning is described as a method of data analysis that automates analytical model building. It is a branch of artificial intelligence based on the idea that machines should be able to learn and adapt through experience.   Machine learning is quickly becoming a topic of[...]
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    February 15, 2018

    How NetChain Squared Technology Affects Different AP/AR Roles

    A true automation platform like NetChain Squared brings along with it a plethora of benefits not only for the organization as a whole, but to the individual members of your internal AP/AR team. The following outlines some of the increased efficiencies that our platform provides as well as how those benefits relate to specific positions[...]
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    February 13, 2018

    We All Make Mistakes: A Few Common Human Errors That Happen In Finance & Invoicing

    Let’s be honest, nobody is exempt from making mistakes. How many different variations of “I’m only human” have you heard throughout your life? The hard truth of the matter is that some mistakes have the potential to cost a lot more than others. I think we can all agree that misspelling a few words in[...]
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    February 8, 2018

    The Fascinating History Of AP/AR

    While accounts payable and accounts receivable processes seem to be progressing into a new age, the origin of invoicing dates back all the way to the stone age. I have always been interested to learn where and how this process began and how much it differs from processes today.   It is not surprising that[...]
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    February 6, 2018

    How Blockchain Can Make Your AP/AR More Efficient:

    First off, many of you might may have heard the term “blockchain” before but are not 100% familiar with its structuring and functionality. Basically, blockchain is way of making data very secure for specific users involved. The backbone of any blockchain is cryptography which is a way of arranging information that requires a type of[...]
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    January 18, 2018

    Workflow Automation vs. True Automation

    Many people have assumptions about the similarities and differences in workflow automation vs. true automation technologies. There have been a lot of workflow tools claiming automation but in reality, have little influence in removing manual processes. The Business Dictionary defines workflow automation as the use of software technology to increase the efficiency of a workflow[...]
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    January 9, 2018

    5 Habits That Can Help Defend Your Small Business From Fraud

    When it comes to fraud from employees, statistics have shown that:   Employees who commit fraud against their employer have never done so before Fraud is committed more often by employees that have a tenure of more than 5 years   Regarding fraud from outside of your company, the so called “CEO Fraud” is currently[...]
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    December 19, 2017

    Top 8 Ways to Measure the Effectiveness of Your Accounts Payable Operation

    Below are the metrics that will help you to assess if your Accounts Payable Operation is working efficiently:   Days Payable Outstanding (DPO) Measuring the time it takes on average to pay a vendor invoice is key in order to analyze your cash flows impact on the Accounts Payable Team. When comparing the DPO to[...]
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    December 14, 2017

    Costs and Risks of Check Payments

    According to this benchmarking survey of the Association for Financial Professionals, the median value for best estimated cost of issuing a check is $3.00. However, this does not factor in the time employees spend writing, mailing, collecting and reconciling the check (see this article in the WSJ). Furthermore, this doesn’t include the time and costs[...]
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    December 12, 2017

    What Is TAAS (Transactions As A Service)

    Transactions As A Service or (TAASTM)(pending) is a phrase coined by the Netchain Squared team that refers to an internal business software structure that helps explain what separates NetChain Squared from competitors.   In its most basic form, (TAASTM)(pending) describes a business model and fee structure associated with serviced-based software. However, at a deeper level, it[...]
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    December 7, 2017

    Switching To Paperless Invoicing Has A Bigger Impact Than You Think

    Going green has become one of the largest global initiatives in recent years, embedding its message in international news, social media, corporate identities and more. There have been many arguments on both sides of the climate change debate but when you look at the numbers within our industry alone, it is hard to deny that[...]
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    December 5, 2017

    Paper Checks: Convenience Or Roadblock?

    Let’s be honest, there is something to be said about a tangible check in your hands. If there wasn’t, a standard from the late 1700’s simply wouldn’t still be utilized today. Everything just seems easier right? No passwords, no hoops, no fuss, just raw data.   Fast forward to 2017. The phrase “The check is[...]
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    November 29, 2017

    When is the Best Time to Pay my Bills

    There is no one answer to this question. It depends very much on the strategy your company is pursuing, the cash flow situation and the credit rating of your company.   DPO vs. DSO: a cash flow consideration. First and foremost, you do not want to pay your vendors quicker than your customers pay you.[...]
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    November 28, 2017

    Why the Segregation of Duties Protects your Business from External Fraud

    Involving different people during the vendor setup, invoice approval and payment process is not only good business practice, but helps you to protect your business from fraud.   External Fraud usually follows two main schemes:   An external person requests that the bank details of a vendor – usually posing as an employee of this[...]

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