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    May 3, 2018

    What Are The Different Types Of Invoices?

    There is no universal format for an invoice, and they differ in relation to a variety of things such industries, processes and many other variables. For example, an invoice related to transportation might not be formatted the same way or used in the same sense as a retail invoice. This is because invoices depend on[...]
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    May 1, 2018

    NetChain Squared Launches Pure Payments

    I want to introduce you to PURE PAYMENTS from NetChain Squared. What is PURE PAYMENTS you ask? Well, it is the newest product offering from NetChain Squared, who provides the first truly automated platform for accounts payable and accounts receivable utilizing AI and machine learning technologies.   But wait, PURE PAYMENTS is different than our[...]
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    April 24, 2018

    Brief History & Evolution Of OCR

    There are many different acronyms for O.C.R. – Office of Civil Rights, Official Cash Rate, Old Country Road, Operational Change Report, Orange County Raptors (lacrosse club in NY), and even Oxygen Consumption Rate, just to name a few. For the purpose of this blog, we are going to be talking about Optical Character Recognition.  [...]
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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 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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    November 27, 2017

    What is Cash Flow Prediction?

    The question may seem simple – the answer can be simple or complex, depending which factors you consider and how sophisticated of a model you would like – and how far out you want the prediction to be within a corridor of a certain accuracy. In other terms: if you want to know how much[...]

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