Invu Blog

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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,…

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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…

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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…

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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…

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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. The UK economy would be boosted by as much…

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

3 people in a meeting deciding how their new Accounts Payable system should work

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…

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Reporting on payment practices and performance – are you ready?

Reporting on Payment Practices and Performance

Companies which impose excessively long payment terms, fail to pay suppliers on time – or combine both of these poor practices – are about to be ‘named and shamed’ by the government in an attempt to change this kind of damaging behaviour. A new website, set up by the government…

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How can housing associations overcome social housing rent reductions?

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Since April 2016, housing associations have been required to cut rents by 1% per year. The new legislation, entitled the Welfare Reform and Work Act 2016, requires that registered providers of social housing in England reduce rents for 4 years, and comply with maximum rent requirements for new tenancies.

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

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Accounts payable can be extremely paper heavy. Hotels and similar 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. On top of this, hotels often have a large number of departments, each with…

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Is the use of OCR back in fashion?

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In today’s world, almost everything is digital. Photos, music, video, documents and others all have their own digital counterpart. Is OCR returning? For the modern business, complete digitalisation of the business and its assets is increasingly important if they are to remain competitive in the modern era. For firms with…

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GDPR, Brexit and other myths debunked

GDPR, Brexit and other myths debunked

If you’ve been to any industry conference over the past 6-12 months, then there is a very high possibility that you’ve heard the phrase General Data Protection Regulation or GDPR. If you haven’t heard of GDPR by now, then it’s time to pull your head out of the sand and…

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GDPR and the ethical use of data

ethical use of data

Wherever your customer data is held, there is a risk. Whether it’s financial risk such as bank details or confidential risk such as sensitive commercial or personal information, the cost of loss or a data breach can be high. Of course, regulations such as the Data Protection Act (DPA) already…

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The benefits of vendor portals

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How can organisations utilise vendor portals, a web-based vendor management solution, to drive productivity and customer satisfaction? What is a vendor portal? Vendor portals (also known as a supplier portal) are scalable, secure enterprise systems designed to manage procurement or processes by seamlessly connecting the buyer to the supplier through…

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Digital Transformation of the Purchasing Process

digital transformation

Digital Transformation doesn’t have to be a painful process. If you’re not going digital in your purchasing processes, then you’re being left behind. Why your purchasing process should go through a Digital Transformation A driver for Invoice automation in the UK is a “duty to report” introduced in the Small…

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