Tekion Accounts Payable Integration Fact Sheet
Tekion Accounts Payable Integration Fact Sheet Over the last month with 100% of our CDK customers being impacted by their ransomware attack, many of our users have reached out and inquired about alternatives and even asked if they can speak with accounting teams on other DMS. We currently have active single and multi-entity dealership groups on CDK, Dealertrack, Reynolds, […]
Supporting Our Valued Auto Dealership Partners During the CDK Cyber Hack Outage
Dear Valued Partners, The last 6 days have been unbelievably challenging for many of you, we want to express our support for each of you affected by the recent cyber-attack and outage of CDK. We understand that this disruption has significantly impacted your operations, creating uncertainty and frustration for your teams and customers alike. As […]
10 Unveiling Benefits of Automated Payment Processing for Modern Businesses
In the current business landscape, where time equates to money, efficiency in financial operations isn’t just a goal—it’s a necessity. As organizations seek to streamline their workflows and bolster their bottom lines, automated payment, processing has emerged as a critical innovation. Let’s explore the top 10 unveiling benefits of automated payment processing for modern businesses […]
What Is the Difference Between AP Automation and Expense Management?
Accounts Payable (AP) Automation and expense management are two critical functions that can help businesses streamline their financial processes, increase efficiency, and reduce costs. However, while they may seem similar, these two processes have different objectives and functions. What is AP automation? AP automation uses technology to automate the various tasks involved in a company’s […]
What Are Electronic Payments?
Electronic payments, also known as e-payments, encompass all transactions conducted online or electronically. These payments exclude cash and paper checks and are facilitated through methods such as credit and debit cards, ACH, and bank wires. Benefits of Electronic Payments Both businesses and their suppliers can reap the benefits of electronic payments and e-payment systems. E-payments […]
Outsourcing Accounts Payable: The Pros and Cons
Outsourcing accounts payable involves enlisting the services of an external team to handle the management of your accounts payable process. By doing so, your accounting department is relieved of some responsibilities, as tasks like managing creditors and short-term debts are delegated to proficient third-party AP teams. But the list of benefits doesn’t stop here. Using […]
What is AP Automation
AP automation, short for accounts payable automation, is a transformative technology-driven approach to managing and processing invoices in business operations. This innovation has completely revolutionized how companies handle their financial transactions and is a game-changer in boosting efficiency. Key aspects of AP automation When delving into the world of AP automation, there are three primary […]
What is the Accounts Payable Process?
Accounts Payable Process (APP) is the management, communication, and delivery of a company’s payment duties to its vendors or suppliers. The capture of invoice data all the way through payment approval, the APP cycle consists of carefully thought-out steps specifically designed to ensure a seamless cash flow between the parties involved. Such a cycle is […]
The Importance of an Accounts Payable Department & Structure
Accounts Payable (AP) refer to the money a company owes its suppliers for goods and services that have been provided and for which the supplier has submitted an invoice. It is also the name of the team responsible for all outstanding money a business owes to its suppliers. Although it may look like a fairly […]