Is Your Finance and Accounting Function Missing Out on the Power of Unstructured Data?
Documents are integral to key business processes, and enterprises have traditionally relied on knowledge workers to manually process documents or use fragmented automation tools/scripts. Research indicates that approximately 80% to 90% of the data generated and collected by companies is unstructured, lacking clear organization or formatting. This unstructured data, often referred to as “dark data,” […]
Invoice Automation Partner To Accelerate Invoice Processing
Effective invoice processing is crucial for modern businesses to ensure financial management. It involves various intricate and time-consuming tasks that demand additional workforce and technology. These tasks comprise capturing invoice data, validating the information, and recording the specifics in financial systems. The invoice processing procedure can become more complex, especially when dealing with high volumes […]
Mortgage Automation: Shaping the Future of The Mortgage Industry
The lending industry recognizes the importance of digital transformation and has made significant progress, especially during the pandemic. In its second-quarter earnings, Rocket executives said that going into 2023 they’re “putting a big chunk of capital [into] internal investment in technology” to save money in the long term. However, the mortgage industry remains highly paper-intensive, […]
Accounts Payable Process Automation – Single Platform To Manage AP
Accounts Payable (AP), a vital process in the Finance and Accounts domain, has come a long way in the last few years in adopting automation. Although many still perceive it as simply the process of reviewing bills, it involves much more than that, and managing it can become challenging over time. According to Modern Treasury’s […]
Using AP automation to educe accounts payable discrepancies and boost satisfaction
Accounts payable is a crucial aspect of maintaining positive cash flow and strong vendor relationships in most companies, especially larger ones. It’s easy to underestimate the importance of maintaining good relationships with vendors until you need their support for rush orders or special pricing. Unfortunately, AP teams often face various challenges in their daily work. […]
How automation in AP works and how it can improve your accounting process
Accounts Payable is one of the most vital processes across industries. The amount of time organizations take to manage the workflow due to multiple data points, sources of information, multiple invoice formats, and touchpoints can be massive. Automating the entire process can help streamline the process by leveraging business intelligence. Further, it reduces the time […]
Take a step ahead: Improve Document Processing Automation efficiency with IDP
From banking, insurance, and retail, document processing is a big part of today’s operations. These industries deal with a massive amount of physical documents that often lead to redundant operations and human errors if the processes are manual. Consequently, addressing these issues becomes crucial to improve accuracy and speed, with a lower cost of operations. […]
Why should mortgage lenders choose mortgage IDP over generic IDP?
What do you get from intelligent document processing (IPD) solutions that are specially designed for the mortgage industry or should you go for generic IDPs that can be configured for Mortgage. Well there is no simple answer to that. Both have significant benefits and both have drawbacks. Let’s start with the Mortgage specific IDPs Mortgage […]
