Blog

What Is the End-to-End Accounts Payable Process?

ilmcorporation
End-to-end accounts payable processes are the closely linked operations required to capture, verify, reconcile, approve, and pay every invoice your company receives. Why are these processes important? Because your company most likely receives hundreds, if not thousands, of invoices a quarter. That means even relatively small improvements to how each invoice is handled can scale…

Getting your AP Processing Department to be Best in Class

ilmcorporation
As supply chains become ever-more closely integrated, businesses are paying increasingly close attention to the real cost of tracking, managing, and making payments to suppliers. Many are finding that inefficient internal accounts payable (AP) operations are costing them more than they realized in hefty overheads, poor cash flow management, missed savings, and poor financial decision-making.…

How AI Is Reshaping Accounts Payable Processing

Kristen Fontenot
Efficiently managing accounts payable can be a complex and time-consuming task for many organizations. Manually processing invoices can lead to inefficiencies, payment delays, and potential errors that negatively impact vendor relationships. Artificial intelligence (AI) is changing how businesses manage accounts payable by making the process more efficient and reliable. This advanced technology enhances accuracy, security,…

When and Why You Should Outsource Accounts Payable

Kristen Fontenot
In-house management of accounts payable presents a formidable challenge: staffing. Finding and retaining skilled employees dedicated to AP tasks is a persistent struggle for companies of all sizes. The demand for expertise in this field often leads to skilled AP staff being redirected to higher-priority tasks, impacting the efficiency and accuracy of the entire AP…

Safeguarding Your Business Against Accounts Payable Fraud

Kristen Fontenot
Strong and consistent oversight in accounts payable is essential to deter fraud. The risks increase exponentially when only one person manages invoice receipt, processing, and payment. This is why it’s essential to have checks and balances in place. While accounts payable fraud risks can never be fully eliminated, businesses can significantly mitigate them through proper…

How to Manage the Accounts Payable Process in 2024

Kristen Fontenot
Businesses today commonly encounter accounts payable problems that include invoice mistakes, undetected fraud, and cash flow management issues. Remote workforces and rapidly growing transaction volumes can quickly overwhelm old processing systems. These mounting AP struggles lead companies to seek outsourced help. ILM Corp offers comprehensive AP management solutions tailored to modern business needs. Our approach…

How Much Do Digital Mailroom Services Cost?

Kristen Fontenot
In the post-COVID business world, a digital mailroom has gone from a smart move for forward-thinking companies to an indispensable part of the hybrid workplace. While the digitization of your incoming and intra-office communications is now hard to avoid, it’s important to understand the likely investments this will require. Cononsidering switching to a digital mailroom…

Mailroom Management Best Practices

Kristen Fontenot
Your company mailroom serves as the communication nerve center of your business, handling more than just physical mail. Emails, faxes, and courier packages like FedEx and UPS all fall under its umbrella. Without efficient inbound and outbound mail management practices, things can quickly descend into chaos and disorganization. Improving efficiency can significantly influence productivity, security,…

The Benefits of Mailroom Automation

Brandon Frey
The remote work revolution has turned mailroom automation from a CTO pet project into a core function of the modern hybrid or fully distributed organization. With staff more likely to be scattered across the world than sitting in cubicles, making sure critical correspondence reaches the right hands quickly and securely has never been more important.…