Invoice reconciliation is a critical control point for finance and procurement teams. It protects margins and ensures companies only pay for what they should. Yet despite sophisticated systems and well-documented processes, most companies still leave money on the table – and the numbers are staggering: Companies lose an average of 9.2% of annual revenue to […]
Contracts govern 70-80% of business transactions, yet many companies treat these agreements as static documents, failing to account for the constant stream of updates and addenda that make them dynamic instruments. This oversight can be costly. Poor contract management can lead to losses of up to 40% of a contract’s value, according to the IACCM. […]
Vendor invoice reconciliation is an essential yet time-intensive task for finance teams. Accounts payable (AP) professionals, on average, process just five to ten invoices per hour, often focusing on the most significant contracts or suppliers. This leaves smaller invoices and less prominent vendors unchecked. While these smaller contracts may seem insignificant individually, their cumulative impact […]