Turning AP into a Strategic Partner to the Enterprise

Turning AP into a Strategic Partner to the Enterprise

The accounts payable function is eager to shed its image as a tactical back-office function. Most accounts payable professionals predict that their department will be “slightly” or “significantly” more strategic in the eyes of senior management within the next five...

Understanding the Invoice Process and its Challenges

Understanding the Invoice Process and its Challenges

Receiving an invoice is the first step in the AP department payment process, but many people do not understand all the steps necessary in receiving, verifying, and tracking those invoices. It can be a complicated process and involves many steps that are crucial in...

Stop Flying Blind with your Payments Reporting

Stop Flying Blind with your Payments Reporting

Analytics and reporting is all the rage in corporate boardrooms. Businesses want to know where they stand with their cash at any moment.  It is no wonder that more businesses are rethinking how they track and report on supplier payments.  A study published by Ardent...

7 Ways Electronic Payments Save Businesses Money

7 Ways Electronic Payments Save Businesses Money

Across the corporate enterprise, departments are always looking for ways to reduce costs.  This is especially true in accounts payable, as reducing costs is among the top priorities of most accounts payable departments. Ardent Partners finds: One way to achieve this...

How AP Automation Can Simplify Your Bank Reconciliation Process

How AP Automation Can Simplify Your Bank Reconciliation Process

Bank reconciliation is a necessary but often painful process that companies should regularly complete for cash management purposes. Without an accurate picture of your company’s financial state, you could end up bouncing payments, incurring late payment fees, or end...

Keep Your Finances Secure with Positive Pay

Keep Your Finances Secure with Positive Pay

Let’s face it: with so many businesses relying on digital means of transferring funds to pay vendors or other businesses, fraud and security breaches are becoming increasingly common. Relying on secure methods of payment is the first step in ensuring your business is...

Why Your Company Should Be Automating Its Accounts Payable

Why Your Company Should Be Automating Its Accounts Payable

Automation is the way of the future, allowing companies to focus on running their business rather than spending time with manual processes. Most modern companies have turned toward automation services to streamline their finances, invoice processing, and other...

How ACH Differs from Other Payment Methods

How ACH Differs from Other Payment Methods

Understanding the difference between payment types can often be tricky, as there are many different options for businesses to process transactions. In this article, we are looking at different types of payments by comparing them to ACH transfers in regards to...

ACH vs. Credit Card Payment

ACH vs. Credit Card Payment

Credit cards offer a way to make many small or large purchases on credit and put off payment to a later date. Many businesses use credit cards for upfront purchases if they do not have the immediate funds needed, which can be costly based on interest rates or payment...

ACH vs. Wire Transfer

ACH vs. Wire Transfer

Speed and security are two factors most important to businesses looking for a reliable payment method. Whether your business is looking for a highly secure payment method or the ability to transfer funds immediately, consider looking at ACH payments or wire transfers....

ACH vs. EFT

ACH vs. EFT

ACH transfers and EFTs are popular methods of transferring money between businesses, vendors, and consumers. Electronic payments have made transferring funds much easier, making online services and goods much more accessible to both individuals and businesses....

What is an EFT?

What is an EFT?

An Electronic Funds Transfer, or EFT, is the electronic transferring of money from one bank account to another, often called electronic banking, direct deposit, bank wire transfer...The list goes on. It can get confusing to know what difference, if any, exists between...

How Do ACH Transfers Work?

How Do ACH Transfers Work?

After exploring the different payment methods available to your business, you might be leaning toward ACH transfers based on its added security and ease of use. But how exactly do ACH transfers work and who uses them? Transferring money through the ACH Network allows...

Sending Electronic Payments to Vendors through ACH Transfer

Sending Electronic Payments to Vendors through ACH Transfer

Setting up an ACH transfer with your vendor is simple. Most online businesses and vendors accept ACH Payments, as it is a secure and reliable payment method. You can set up either a reoccurring payment for regular vendors or a one-time payment transfer through ACH...

ACH Credit vs. ACH Debit

ACH Credit vs. ACH Debit

Using an ACH payment method allows your business to securely process payments to vendors and retain control over your funds throughout the process. Payments go through the ACH Network and are issued to the receiving bank account. There are two types of ACH transfers...

How Accounts Payable Automation Can Simplify Your AP Department

How Accounts Payable Automation Can Simplify Your AP Department

Accounts Payable departments are involved in every aspect of a payment’s life-cycle, which starts with receiving an invoice. No matter the size of your company, processing invoices can be tedious and frustrating as a delay during any step can cause significant...

The Case for MS Dynamics GP Integrated AP Automation

The Case for MS Dynamics GP Integrated AP Automation

With over 50,000 customers, Microsoft Dynamics – Great Plains (GP) is one of the major success stories in the ERP industry. Organizations have achieved great benefits from its deployment due to its scalability and versatility. Now paperless automation, once reserved...

Converting to Electronic Payments: Is It Worth the Investment?

Converting to Electronic Payments: Is It Worth the Investment?

Using electronic B2B payments have proved to be one of the best ways to streamline operations and reduce Accounts Payable costs. However, your company may still be wondering whether converting to electronic payments will provide a return on your investment. In order...

Virtual Card Payments for Business

Virtual Card Payments for Business

Virtual Cards: Quickly becoming the leading payment method for business An ideal way to pay vendors and suppliers, virtual cards offer unmatched security, control and easy reconciliation. With a single-use credit card number, virtual card payments deliver a much more...

Top 10 Key Performance Indicators for Accounts Payable Operations

Top 10 Key Performance Indicators for Accounts Payable Operations

Finance leaders in most companies are looking at their Accounts Payable department to find opportunities for improvement, and to determine when bringing in new technology makes financial sense. The best way to accomplish both of those goals is to establish and track...

Moving Vendors to ePayments

Moving Vendors to ePayments

If you're responsible for your Accounts Payable operations, you know the value of electronic payments and the time and money that can be saved over manual check processing. The switch to ePayments also offers important benefits in maximizing resources, where time...

Are Check Based Payments Punishing Your Business?

Are Check Based Payments Punishing Your Business?

If you believe that writing paper checks is the best way to pay invoices, you’re missing the most effective method for completing the accounts payable process. In fact, writing paper checks may be hurting your business in ways that you haven’t even considered....

ACOM Sponsors Sage Summit 2017 in Atlanta, GA

ACOM Sponsors Sage Summit 2017 in Atlanta, GA

We're excited to announce that ACOM is sponsoring Sage Summit again this year, for their 2017 U.S. conference in Atlanta. It's part of the Sage 2017 worldwide tour, and a must attend event for Sage users for thought leadership, inspiration, and learning. If you’re...

Ending the Paper Chase in Accounts Payable

Ending the Paper Chase in Accounts Payable

Even with the great strides achieved in digital imaging and technology, many accounts payable departments still spend a great portion of their time chasing paper. It’s amazing that even among organizations using the most sophisticated ERP systems, AP staff still often...

Why Your ERP Isn’t the Best Option for Payments

Why Your ERP Isn’t the Best Option for Payments

When discussing the subject of streamlining accounting processes, the option of using your company's ERP system always comes up. ERP systems are excellent for integrating accounting with things like order management, inventory, HR and customer relationship management,...

5 Critical KPIs for Your CFO

5 Critical KPIs for Your CFO

Chief Financial Officers can have a great deal of influence over the success or failure of a company. They're responsible for financial planning, managing financial risk and reporting on the financial health of the organization to higher management levels. It can be a...

How Electronic Payments Can Improve Your Bottom Line

How Electronic Payments Can Improve Your Bottom Line

Today's business environment is forcing companies to be more innovative and to find the most cost-effective ways to run the business. Of course, financial executives must be good stewards of the financial resources of the company. They also need to ensure that...

Is Your AP Process Headed In the Right Direction?

Is Your AP Process Headed In the Right Direction?

You know your bills are being paid, so evidently your Accounts Payable process is working. But do you know how well it's working? More importantly, do you know what to do to make it work better? Tracking the right metrics will give you solid answers to both of those...

Accounts Payable Automation: How to get Started

Accounts Payable Automation: How to get Started

Companies don't need to accept working with a manual accounts payable process, which is often costly, prone to errors and a drain on profitability. Wise CFOs and controllers are working to find ways to lower costs and streamline their invoice-to-payment process....

An Introduction to Electronic Payments

An Introduction to Electronic Payments

Today's technology is offering new ways to streamline accounts payable and save time and money in making and receiving payments in the business-to-business environment. The world of B2B payments is moving toward electronic payments, also referred to as ePayments,...

Protecting Your Organization from Payments Fraud

Protecting Your Organization from Payments Fraud

Has your organization been hit by payments fraud? If not, you're one of the lucky few. The Association for Financial Professionals (AFP), in their 2016 AFP Payments Fraud and Control Survey, found that 73 percent of organizations experienced attempted or actual...

How to Use Accounts Payable to Cement Your Supplier Relationships

How to Use Accounts Payable to Cement Your Supplier Relationships

Strong supplier relationships are critical for all types of businesses. You've probably completed a supplier selection process that identified those companies that can best meet your needs. You've carefully reviewed the contracts and negotiated a mutually beneficial...

Are Virtual Payments the Future of B2B Payment Processing?

Are Virtual Payments the Future of B2B Payment Processing?

There's little argument that virtual payments are taking over B2B payment processing. Research indicates that B2B virtual payment volume will double between now and 2018 and skyrocket to over $500 billion by 2024. However, the industry must decide how to address...

ACOM is a Silver Sponsor at Abila AUDC 2017 Nashville

ACOM is a Silver Sponsor at Abila AUDC 2017 Nashville

ACOM is proud to be a Silver Sponsor at the Abila User and Developer Conference (AUDC) in Nashville, TN April 11-13, 2017.  AUDC is three days of inspirational speakers, informative educational sessions, quality networking time with sponsors, partners, and other...

ACOM Solutions to Sponsor 2017 GPUG Amplify in Anaheim, CA

ACOM Solutions to Sponsor 2017 GPUG Amplify in Anaheim, CA

ACOM Solutions is excited to be sponsoring the 2017 GPUG Amplify conference March 20-22, 2017 in Anaheim, CA. Amplify is a great opportunity for end-users, partners, and ISVs to improve their skills, learn best practices and meet with industry experts. Early bird...

The Savings in B2B Payments

The Savings in B2B Payments

How much does your company spend each month just to pay your vendors by check?  When you think about the costs involved in producing check payments, you begin to realize how inefficient the paper check process is.  When you add up your hard costs (check stock and...

Moving to Electronic Vendor Payments

Moving to Electronic Vendor Payments

According to the Association for Financial Professionals’ 2015 Payments Cost Benchmarking Survey, nearly 80% of organizations are in the process of transitioning their B2B payments from paper checks to electronic payments.  Although check based payments are expensive...

How Do ePayments Benefit Your Vendors?

How Do ePayments Benefit Your Vendors?

In our previous posts, we’ve talked about the different types of ePayments available and how ePayments benefit your company, but why would your vendors agree to make the switch?  ePayments simplifies the payment process for your vendors and allows them to get paid...

How Do E-Payments Benefit Your Company?

How Do E-Payments Benefit Your Company?

Making the switch from traditional paper checks to e-payments can save your company significant amounts of money, time and resources.  If you haven’t made the move to e-payments yet, here are just a few reasons why you should consider making the switch. Significant...

What does “ePayments” Actually Mean?

What does “ePayments” Actually Mean?

The traditional AP process of cutting paper checks for vendors is full of challenges: it’s inefficient, time-consuming for staff, exposes your company to check fraud and above all it’s incredibly expensive.  According to a 2015 AFP Payment Survey, the average cost of...

The Cost of Issuing Checks

The Cost of Issuing Checks

A 2014 article in the Wall Street Journal titled “U.S. Companies Cling to Writing Paper Checks” refers to an Association of Financial Professionals (AFP) survey stating that 50 percent of B2B payments are still made by paper check. The accuracy of this statistic,...

Exploring the Benefits of Virtual Cards

Exploring the Benefits of Virtual Cards

As B2B payments continue to transition from paper checks to ePayments, Virtual Cards have become one of the more popular forms of electronic payment.  A virtual card is designed to be used as a one-time payment that is issued for a specific vendor transaction and a...

Recognizing Your AP Team

Recognizing Your AP Team

Did you know that it’s Accounts Payable Recognition Week?  It’s time to show some appreciation for your hardworking AP department!  A good AP team ensures that your company maintains good relationships with vendors, helps to prevent fraud and can save the company...

The Business Case for AP Automation, Part 2

The Business Case for AP Automation, Part 2

In part 1 of our article we discussed the different pieces of research that you needed to consider as you put together your business case for AP automation.  Part 2 is all about the potential benefits your company will receive from automation.  You’ve done all of the...

The Business Case for AP Automation, Part 1

The Business Case for AP Automation, Part 1

  You’ve done the research and you know how much your company would benefit from automating the AP department.  Now it’s time to convince the executive team that this is a good strategic move.  So how do you begin building a business case for AP automation?  It’s all...

The Power of Partnerships

The Power of Partnerships

Making the right choice in vendor partners can be a make-or-break business decision.  The right vendor partner can make you look great to your customers and help elevate the level of products and services that you provide while the wrong vendor partner can hurt your...

Top 10 Reasons for Accounts Payable Automation

Top 10 Reasons for Accounts Payable Automation

Are you still processing invoices manually?  Still chasing down paper files or walking into your office to see that the pile of documents for approval has somehow gotten bigger overnight?  It’s time to put a stop to the madness and start a serious discussion with your...

Automating Your (Work) Life: Automating The AP Department

Automating Your (Work) Life: Automating The AP Department

Automating Your (Work) Life Part Two:  Automating the Accounts Payable Department So you’ve begun to put processes into place that can automate your work life on a personal level, but what about automating your office on a higher level?  Many departments can benefit...

ACOM Solutions to Sponsor Sage Summit 2016 in Chicago, IL

ACOM Solutions to Sponsor Sage Summit 2016 in Chicago, IL

Long Beach, CA – ACOM Solutions is excited to announce that we will a gold-level sponsor of the 2016 Sage Summit conference in Chicago this July.  “Sage Summit is the premier event for both Sage users and partners, and we’re excited to continue our sponsorship of this...

ACOM Solutions to Sponsor Amplify Hosted by GPUG in Anaheim, CA

ACOM Solutions to Sponsor Amplify Hosted by GPUG in Anaheim, CA

ACOM Solutions is excited to be sponsoring Amplify Hosted by GPUG this May 23-25 in Anaheim, CA. Get your first look at Microsoft Dynamics GP 2016, participate in the dialogue with Microsoft on future versions of Dynamics GP, and learn from Dynamics GP experts to...

A Break-Up Letter to Your Filing System

A Break-Up Letter to Your Filing System

In a letter that opens with “Dear Forlorn Filing System,” a business woman “breaks up” with her outdated filing system. While it worked at the time of its inception (20 years ago), she admits, it’s no longer cutting it. Here’s why: The average company spends $20 in...

5 Ways To Improve Workplace Production

5 Ways To Improve Workplace Production

Workplace Production An increasing number of articles on workplace productivity have understandably centered on employee satisfaction. As this article points out, jobs are more transient than ever before, so consider just how easy it is for an unhappy employee to walk...

7 Ways to Improve Office Productivity

7 Ways to Improve Office Productivity

This article defines productivity as how much work employees are doing. But we should also consider the timeframe in which they are doing the work and the value of the work. Would you consider an employee productive if he or she worked very hard for hours on something...

Have you heard of a “Not-to-do” list?

Have you heard of a “Not-to-do” list?

Sometimes mapping out what you don’t need to do is imperative to getting your essential work done. This article suggests “stepping out” of projects that add no value to your role. Unfortunately, this isn’t always possible and might not boost your popularity at the...

Does automation mean computers replacing humans?

Does automation mean computers replacing humans?

There are those who hear the word “automation” and imagine humans losing their jobs to computers. But according to Automic CEO Todd DeLaughter, “Automation is a way to make the humans who are running IT much more effective.” While the fear that automation might...

Optimizing your time

Optimizing your time

We’re always trying to find ways to be more efficient, more productive and make the best use of our time. Google’s Head of Product Marketing at Google Apps for Work, Jeremiah Dillon, sent a motivational/instructional email to his team about time management. The email, which has since been shared throughout the web, focuses on the two paradigms of scheduling—the manager and the maker.

Share this article here!
RSS
Facebook
Google+
Twitter
LinkedIn
IT automation and the role of the CIO

IT automation and the role of the CIO

Businesses, now more than ever, have to manage large amounts of data, and the volume is only expected to increase. As this article notes, CIOs must work with their IT teams to find the most effective ways to obtain and analyze available data. Having access to current...

IT professionals eager for automation

IT professionals eager for automation

85% of IT professionals say that intellectually stimulating activity is the most important factor in their job satisfaction. Understandably, their least favorite activities concern documenting, reporting and routine maintenance. However, once an automation tool is implemented, these professionals can ditch the menial, time-consuming tasks, allowing them to work on high-value projects.

Share this article here!
RSS
Facebook
Google+
Twitter
LinkedIn
How to Beat Workplace Productivity Killers

How to Beat Workplace Productivity Killers

Did you know companies lose an average of $4,800 per year due to employees spending time “looking for stuff”? In addition to physically decluttering your workplace, organizing your data with a document management system would enable you to find the documents you need...

Why Smart Businesses Use Document Management Systems

Why Smart Businesses Use Document Management Systems

In the past, document management systems were only used by large corporations. Thankfully, today’s offerings cater to businesses of all sizes and budgets. This article outlines the most valuable features of implementing a document management system, including enhanced...

What is Document Management?

What is Document Management?

The Association for Information and Image Management (AIIM) has prepared a handy guide defining document management—why it’s needed, what features it can offer and how it relates to the enterprise.

Share this article here!
RSS
Facebook
Google+
Twitter
LinkedIn
EDI technology used across the globe

EDI technology used across the globe

EDI technology is a great solution for businesses to transfer data between each other. However, it isn’t limited to local businesses; EDI has a valuable global presence and is utilized by foreign governments to transmit information between countries, such as China and...

The 5 Ws of EDI systems

The 5 Ws of EDI systems

Electronic Data Interchange (EDI) allows businesses to transfer critical information to each other electronically. Who benefits from this technology—how and why? Check out our brief guide: What is EDI? Electronic data interchange is the transfer of data from one...

Easy Ways for Your Organization to Go Green

Easy Ways for Your Organization to Go Green

We know AP automation removes the bulk of paper-based processes and materials—paper, filing cabinets, additional storage, etc. But what else can your office do to help the environment without disrupting your day? Take a look at these simple tips for going green in...

Business Process Automation

Business Process Automation

What is business process automation and how can it help your business? This is a valuable overview for automating across all industries and departments—from accounts payable to human resources. Learn how data can move through an organization, effectively streamlining...

Document Management System (DMS)

Document Management System (DMS)

The main purpose of a document management system is management of information. In this article, we will take a look at some of the important points to look out for while getting one for your organization.

Share this article here!
RSS
Facebook
Google+
Twitter
LinkedIn
E-invoicing: The road to automation

E-invoicing: The road to automation

Many companies are already reaping the benefits of e-invoicing, which can cut costs, add value and refocus business efforts for more profitable results.

Share this article here!
RSS
Facebook
Google+
Twitter
LinkedIn
7 Reasons your company needs a document management solution

7 Reasons your company needs a document management solution

Employees continue to waste time and effort with a variety of tasks related to manual, paper-based document processing. These inefficiencies can be very costly to your organization. Choose the best document management software to achieve the following benefits: Enjoy...

Reaping the rewards of smart data

Reaping the rewards of smart data

Mark Venables investigates the growth of manufacturing execution systems and how they can turn Big Data into smart data to optimise productivity

Share this article here!
RSS
Facebook
Google+
Twitter
LinkedIn
Why Accounting & Finance Need Document Management

Why Accounting & Finance Need Document Management

Audit Trail: Regulatory compliance, especially in finance, requires a clear audit trail. The ability to track and report modifications to documents—when they were made and by whom—is a vital component in meeting compliance audit initiatives. Version Control:...

ACOM Solutions is a Platinum Sponsor at GPUG Summit 2015

ACOM Solutions is a Platinum Sponsor at GPUG Summit 2015

September 25, 2015 LONG BEACH, CA & DULUTH, GA—ACOM Solutions, an industry leader in document and process automation software solutions, announced their platinum sponsorship of the 2015 GPUG Summit, an educational conference for Microsoft Dynamics® GP users. This...

Monthly Business Savings? Here’s How EDI Software Can Help

Monthly Business Savings? Here’s How EDI Software Can Help

Every company wants to spend less. Dollars saved will mean improved revenue or the ability to invest elsewhere — allowing room for business growth. Many organizations are doing everything they can to trim excess processes and get by with fewer staff, but often ignore...

EDI Implementation And Compliance

Electronic data interchange (EDI) solutions are a must for any business looking to increase back-end efficiency and facilitate the exchange of documents among multiple trading partners. However, EDI implementation and compliance do not happen in a vacuum; here's what...

Accounts Payable — Then And Now

While businesses have long relied on an accounts payable (AP) process of some sort to facilitate the process of issuing and matching purchase orders and managing payments, the tools and systems that support such critical business functions have changed dramatically...

Benefits Of EDI

Electronic Data Interchange (EDI) systems create a critical link between companies by facilitating the automation transmission of business documents, significantly reducing the need for manual inputs and virtually eliminating the possibility of human error. The big...