Invu Blog

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How the Accounts Payable Function Creates Value for Your Business

cost of accounts payable depiction

All businesses function to make a profit – that is a given, and profit arises when value exceeds costs. But when it comes to making that profit, too many businesses struggle to appreciate the difference between the perceived value of some functions, against the actual costs. As an example, as a hotel customer it is Continue reading

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5 Reasons Why you Should Implement a Document Management Solution

document management solution

One of the biggest challenges for businesses today is surviving and growing in a continuously faster paced and competitive environment. These challenges manifest themselves as higher customer service expectations, and companies are under more pressure than ever to respond to enquiries and deal with issues quickly and accurately. To respond, businesses need information systems that Continue reading

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Achieving a Return on Investment From Accounts Payable Automation

Accounts Payable ROI

Automated Accounts Payable (AP) enables the data on purchase invoices, which are received via email or in paper form and scanned, to be captured. This data then forms part of an electronic workflow. This enables efficient coding and approval of the invoices and then leads to automatic processing into the company’s ledgers ready for payment. We Continue reading

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GDPR Data Security: Will 2018 be a new dawn for data encryption?

data encryption

The impending GDPR deadline, and most particularly it’s regime of fines for data breaches, has placed security at the top of the agenda at many organisations. There is now a compelling reason for the use of data encryption after it has laid dormant for decades. It is a shame that encryption is still so misunderstood Continue reading

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The Business Case for Improving the Purchasing Process

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Many businesses rely on controls over expenditure at the point of receipt of a supplier invoice, making it difficult to produce timely and reliable management accounts. This results in a lack of visibility of commitments that have been previously made, leading to surprises. When supplier invoices arrive, spending may have been higher than expected. Moving Continue reading

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Are Housing Associations ready for PPR?

Housing Finance logo 2018 yellow web

Housing Associations (HA’s) registered at Companies House who qualify as large Companies will have to report under Payment Practices Regulations (PPR). Large Companies exceed at least two of the following three thresholds in the last two preceding financial years – Annual Turnover £36 million – Balance Sheet total assets £18 million – Employees 250   Continue reading

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Getting on track with GDPR and Data Security – Hard Drive encryption

accounts payable gdpr

I have been a regular user of trains for many years now and one of the “advantages” of public transport is sharing that time with other travellers. As I catch the 06:43 it fills with office workers, many of whom are keen to steal a march on the day ahead by switching on their laptops Continue reading

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How to Slay the Email Dragon

George and the Dragon

Wow! I was working when it all started A year before I started work in 1979, a fourteen-year-old, Shiva Ayyadurai, wrote a program called EMAIL for the University of Medicine and Dentistry of New Jersey, which sent electronic messages within the university. There is a controversy as to whether Shiva or Ray Tomlinson, who in Continue reading

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WARNING: Poor accounts payable processes could be damaging your business

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Accounts payable processes may not be the most exciting thing about running a business and are often viewed as the back office ’out of the spotlight’ function. After all, who wants to think about paying bills? However, managing your business’ accounts payable and invoicing function is a crucial process and, if not managed properly can Continue reading

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Automated accounts payable could be the solution to problems with your accounting software

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Accounts payable can be extremely paper heavy. Modern businesses have a mass of information that has to be tracked, stored and managed, and much of it needs to be dealt with quickly and efficiently like invoices, supplier contacts and enquiries, and accounts filing. On top of this, larger businesses often have a more complex structure Continue reading

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Could this accounts payable fraud happen at your business?

Accounts Pay Fraud

Financial control may be dull but it is important. This recent case, involving a financial controller stealing £351,000 from her employer across 43 transactions in a three year period, illustrates the point. The fraud involved the approval of supplier invoices that were processed and paid to the account of the financial controller. Continue reading

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10 Habits of a Successful Accounts Payable Department

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An effective accounts payable (AP) department is an essential part of any business, helping maintain healthy finances and happy suppliers. If your business has an automated accounts payable system, there are 10 habits your team can establish to improve their chance of success and efficiency.     What do successful accounts payable departments do? They Continue reading

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Are corporations’ poor accounts payable practices putting Britain’s SME community at risk?

Poor Accounts Payable

Small and medium sized businesses are an integral part of the UK economy, making up 47% of all private sector turnover, but poor accounts payable practices by bigger businesses and the increase of late payments are putting this essential ecosystem at risk. Continue reading

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Three things to ask your management team and accounts payable vendor to overcome your AP challenges

Accounts Payable Solutions

Accounts payable is an essential part of any business so being asked to research the best solution for your company can be a daunting task, especially if you’re not a ‘finance person’. Whether you work for a large company being asked by your management team to source a better accounts payable platform, or a smaller Continue reading

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