AI / ML
September 14, 2023
Artificial intelligence (AI) has become an essential part of modern business and digital transformation initiatives because it is revolutionizing the way we work, interact, and ...
Extraction
September 07, 2023
The extraction of data from invoices and other financial documents has long been a tedious and error-prone process, requiring the use of optical character recognition ...
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Accounts Payable
August 22, 2023
Finance departments are severely overburdened with manual and mundane tasks, increasing the risk of human error and decreasing the chance of capturing potential savings. Cash-sensitive ...
Accounts Payable
July 27, 2023
In the realm of finance, there is no denying that numerous processes are bogged down by tedious, repetitive tasks like data entry and report generation. However, it's abundantly clear that ...
AI / ML
November 09, 2022
Two Years of Leading AP Automation OpenEnvoy launched two years ago with the mission to raise the bar for what finance teams can expect from ...
Automation / Hyperautomation
October 19, 2022
Spend Matters recently named OpenEnvoy the most impressive AP automation vendor on their Future 5 providers list. This news comes in addition to the announcement ...
AI / ML
October 17, 2022
As macro-concerns, inflation, and rising interest rates continue to dominate boardroom conversations, the pressure is on for business leaders to deliver big results despite tight ...
Auditing
October 12, 2022
Accounting teams have a lot on their plates, particularly those who oversee the finances of transportation and logistics. Shipping is a complex practice with many moving parts, numerous documents, and ...
Accounts Payable
October 10, 2022
In 2022, we know that teams work most effectively in highly collaborative, engaging environments with clear goals and the tools to execute –which rings true ...
Analytics
October 04, 2022
The quote, "You can't manage what you can't measure," is often shared amongst business leaders, and while that is undoubtedly true, what if you can't ...
Automation / Hyperautomation
September 26, 2022
What safeguards does your finance team have to prevent paying accidental and fraudulent vendor overcharges? While most finance leaders will say they have a combination ...
Accounts Payable
September 21, 2022
https://youtu.be/PWJ7dV4dcbY For an organization to function efficiently, receiving, reconciling, and remitting payments is critical for operational continuity. But there is a common experience among finance teams across industries; many are ...
Automation / Hyperautomation
September 07, 2022
The economy continues pushing organizations to have leaner, more agile operating models. Because of this, finance teams are being forced to achieve more with less, ...
Analytics
September 01, 2022
The B2B landscape is evolving. Technology and automation trends are transforming accounts payable by driving new payment behavior, consequently creating new challenges for accounts receivable. ...
Accounts Payable
August 22, 2022
Thanks to machine learning and artificial intelligence, finance leaders can streamline processes like invoice capture, reconciliation, and payments with little to no manual intervention. According ...
Automation / Hyperautomation
August 16, 2022
As a growing number of financial institutions sound off warnings that an economic downturn is approaching, worries are mounting for both businesses and consumers. As a result, finance leaders across ...
Accounts Payable
August 08, 2022
Most finance executives have recently focused on improving their accounts payable (AP) processes. With new accounting solutions hitting the market every year, it's like there ...
Accounts Payable
August 08, 2022
Many accounts payable teams are familiar with the practice of spot-checking invoices against baseline documents. This practice is similar to when you skim over an ...
Thought Leadership
August 01, 2022
In the past five years, business executives have been asked to apply their leadership, ingenuity, skills, and experience in unprecedented ways. Business has become increasingly ...
Customer Experience
July 20, 2022
Customers are the driving force behind our company, which is why Get to Know Your Customers Day is so important to us! Although we work to show our customers appreciation ...
Customer Experience
July 18, 2022
From time spent digging for missing documents and rectifying errors to manual reconciliation of invoices, there can be an overwhelming amount of manual work for ...
Accounts Payable
July 11, 2022
Much has changed for employees over the past two years; this includes accounting and finance teams who helped keep their companies afloat during a crisis ...
Thought Leadership
July 06, 2022
I am nearing the end of my first year here at OpenEnvoy, a company providing the market with a focused AP automation solution featuring extraction ...
Thought Leadership
July 05, 2022
CFOs play an integral role in the organization that extends far beyond the function, including hiring and retention. Today's workforce is unlike one we've ever experienced, marked by flexible working ...
Thought Leadership
June 29, 2022
Inflation, labor shortages and financial concerns are at the top of the list of things that keep CFOs up at night. by Grant Thornton reveals ...
Customer Experience
June 16, 2022
Inflation is a top concern for organizations in 2022. To remain agile in uncertainty, CFOs and finance leaders must ensure they stay operationally lean and ...
Automation / Hyperautomation
June 13, 2022
Accounting has quickly shifted into a new era leaving behind the days of seemingly endless numbers and analog strategies. In the past decade, digital tools ...
Thought Leadership
June 08, 2022
The value of digital tools in the modern finance landscape is undeniable. Digital finance tools act as beacons of transparency that promote collaboration and unlock hidden insights. Despite this potential, ...
Disputes
June 03, 2022
The business-vendor relationship is an important yet challenging one. After all, it serves as a central nexus between an organization's finances and its ability to ...
DE&I
May 31, 2022
C-suite executives look to finance and accounting teams for guidance on business decisions that impact the enterprise. However, for professionals looking to ascend the ranks ...
Reconciliation
May 18, 2022
A recent OpenEnvoy study found that nearly 10% of all vendor invoices are duplicates. The study examined vendor billing over 12 months across a sample ...
Automation / Hyperautomation
May 13, 2022
Technology plays an integral role in modernizing accounting processes and streamlining an increasingly complicated operational landscape. Tools like automation are essential for achieving scalability and growth. But finance leaders must ...
Accounts Payable
May 09, 2022
In the world of accounting, efficiency and accuracy is everything. The ability to scale and execute finance tasks defines an organization's agility and plays a ...
Customer Experience
May 04, 2022
As companies progressively automate their AP processes, they begin to see notable benefits in terms of the time and money they save. This is because ...
Thought Leadership
April 27, 2022
For women, a career in finance or accountancy can be influenced by the disproportionate number of male finance executives versus women in finance leadership roles. ...
Automation / Hyperautomation
April 13, 2022
In a recent webinar, Matthew Tillman, CEO of OpenEnvoy, and Jose Sorondo, Director of Global Financial Shared Services at Lululemon, connected to discuss accounts payable fraud. According to the latest ...
Thought Leadership
April 11, 2022
Finance executives are challenged by the implications of talent shortages, inflation, operationalizing ESG plans, digitizing processes, and driving overall business growth. As inflation surges and ...
Freight Audit
April 06, 2022
The recent pandemic emphasized the importance of agility and interconnectedness amongst global supply chains. While technology has transformed business over the past two decades, the ...
DE&I
March 31, 2022
In recognition of women’s history month, we connected with our very own Samantha Moran, Head of Customer Success at OpenEnvoy to learn about the importance ...
DE&I
March 30, 2022
Many female finance professionals experience a lack of gender diversity in the workplace. According to Oliver Wyman analysis, on average executive teams are 20% women, with only 17% of finance ...
Automation / Hyperautomation
March 17, 2022
Your accounting department is one of the most integral business units in the strategic planning process. Leading businesses know the importance of involving their finance ...
Automation / Hyperautomation
March 10, 2022
As finance leaders navigate remote work environments, they must maintain their competitive edge in fast-changing industries. For finance functions, this means developing strong controllership and ...
Automation / Hyperautomation
March 04, 2022
As the roles of finance executives grow more demanding, so do the expectations of corporate controllers. Controllers must prepare the finance function for the future ...
Finance
March 04, 2022
Digital innovations have enabled corporations to scale to levels that were once unimaginable. Despite the residual uncertainties from the global pandemic, one thing we are sure of is that digitized ...
Finance
March 02, 2022
Digital transformation has quickly become a hot topic for companies across the board. With a need to stay relevant and agile for the future, many ...
Thought Leadership
February 28, 2022
The great resignation is weighing heavily on companies, and CFOs must help their businesses adapt to disruption once again. According to the U.S. Department of ...
Finance
February 24, 2022
Organizations have been deeply affected over the past two years, and business leaders must stabilize their supply networks to improve customer satisfaction. Executives are battling ...
Customer Experience
February 22, 2022
Logging is essential to any software application. In its simplicity, log is a file that tracks all the happenings within an app. This helps application developers understand and trace how ...
Finance
February 11, 2022
CFOs play a fundamental role within the organization as they are tasked with duties that support all business units and drive enterprise value. They are ...
Finance
February 11, 2022
From the widespread adoption of artificial intelligence, organizational restructuring, and remote work environments, the workforce as we once knew it has been forever changed by ...
Finance
February 09, 2022
From production delays to escalating commodity prices, businesses are experiencing a reduction in revenues and the dampening of earnings in a number of sectors. As ...
Finance
February 04, 2022
Effective cash management practices, including increased liquidity and cash on hand, helped organizations ease the blow of market volatility during the pandemic. Although businesses are looking ahead now, many are ...
Finance
February 02, 2022
Through recent market volatility and supply chain disruption, CFOs in the manufacturing industry must work diligently to drive growth alongside putting controls in place to ...
Thought Leadership
January 28, 2022
For this month’s CFO report, we connected with Michael Schmit, CAO and Corporate Controller at Schweitzer-Mauduit International Inc. (SWM). SWM is a multinational, publicly traded, ...
Customer Experience
January 27, 2022
I recently started as a Product Designer at OpenEnvoy. Here at OpenEnvoy we enable finance teams of all sizes with visibility, automation, and cash flow ...
Automation / Hyperautomation
January 26, 2022
According to the 2021 AFP Payments Fraud and Control Survey nearly 75% of organizations were targets of payments fraud in 2020. The survey also concluded that accounts payable (AP) departments ...
Finance
January 20, 2022
The role of the CFO in media and entertainment (M&E) has traditionally been looked to for directing organizational spending and finding ways to reduce overhead. ...
Finance
January 13, 2022
From market volatility to accelerated digital transformation and the development of remote environments, many conditions are shaping the future of work. These conditions make managing ...
Thought Leadership
January 11, 2022
Since the pandemic businesses have been looking to overcome increasing market volatility and reduce the complexity of their supply chains. Developing a strong alliance between ...
Finance
January 11, 2022
Most professionals agree that the world has entered a new era of business—one characterized by increased digitization and the use of information technology as a leading competitive advantage. The adoption ...
Freight Audit
January 07, 2022
Supply chain disruption negatively impacts relationships with vendors and makes maintaining customer loyalty difficult. For shippers, the supply chain disruptions could cause financial ruin. In ...
Finance
January 06, 2022
Payment for duplicate invoices is harmful to working capital, and the occurrence of receiving duplicate invoices is far more common than most organizations realize. Research ...
Finance
January 04, 2022
Successful CFOs act as advisors to the C-suite, and they are entrusted to navigate their company’s financial future. In the 2022 post-pandemic business environment, finance ...
Thought Leadership
December 20, 2021
As companies attempt to recover from the effects of COVID-19, finance teams are universally struggling to keep up with limited resources for juggling daily tasks and strategic projects. For an ...
Thought Leadership
December 16, 2021
As COVID-19 reshaped business operations globally, many companies saw devastation due to inadequate cash resources. Those who prioritized cash management before the crisis endured the ...
Thought Leadership
December 10, 2021
Payment processes can greatly influence customer satisfaction and vendor relationships. Manual systems slow payments coming into accounts receivable and backlog invoices leaving accounts payable. This ...
Automation / Hyperautomation
December 09, 2021
The vast majority of companies that use legacy data systems struggle with accessing end-to-end spend visibility. Low-performing technology combined with disjointed accounts payable and receivable ...
Thought Leadership
December 06, 2021
In the past decade, sustainability has transitioned from a company value to a key business strategy, and the commitment to Environmental, Social, and Governance (ESG) practices now impacts companies' ability ...
Thought Leadership
December 02, 2021
Accomplishing digital transformation demands an active and consistent effort, and in the finance function that puts a great deal of responsibility on the controller. As ...
Automation / Hyperautomation
December 02, 2021
Companies have always sought the quickest, most cost-effective way to ship heavy freight long distances. While technology has evolved the logistics sector, rail has continued ...
Finance
November 22, 2021
In today's digital economy, data and analytics impact every business unit including product pricing, customer relationships, procurement, supply chain practices, and more. According to the ...
Automation / Hyperautomation
November 19, 2021
There are many reasons an AP department may pay their vendors late: issues matching invoices to goods received, missing information, invoice discrepancies, or the desire to maximize monthly cash flow. ...
Automation / Hyperautomation
November 18, 2021
As digital transformation accelerates the business landscape, CFOs and finance teams are looking to improve organizational efficiency and focus on strategic initiatives. According to the ...
Auditing
November 09, 2021
While auditing freight bills is not a glamorous part of operations, it is— without question—a critical plug to accounting that enables businesses to ensure invoices ...
Thought Leadership
November 05, 2021
Advancing the Role of the Financial Controller: From Operator to Strategist Winning organizations expect their finance functions to foster growth and profitability through calculated insights ...
Automation / Hyperautomation
November 03, 2021
One year ago today, we introduced the world’s first real-time AP automation solution. Since our launch, OpenEnvoy has raised expectations in what AP automation software can do for finance teams ...
Automation / Hyperautomation
October 29, 2021
Cleaning up your general ledger (GL) is critical to creating efficient processes and running a data-driven organization. There are serious consequences to improperly coding the ...
Finance
October 28, 2021
Is Your Expense Policy Prepared for the Future of Work? To survive the COVID-19 pandemic, companies that could operate in a remote environment made quick ...
Automation / Hyperautomation
October 18, 2021
The Freight Audit and Payment (FAP) segment has gained substantial relevance recently as businesses wake up to the complicated reality of processing freight invoices. FAP ...
Automation / Hyperautomation
October 14, 2021
Accounting processes vary in complexity, and as the business world requires accuracy and speed, legacy systems aren’t as effective as they once were. Accounts payable (AP) acts as a gatekeeper ...
Automation / Hyperautomation
October 08, 2021
Many CFOs believe that at least 25% of their time is spent improperly on manual tasks. To be a great CFO, it is clear that ...
Automation / Hyperautomation
September 14, 2021
The controllers of today must be able to hand off the auditing and invoice management tasks in order to make more time for long term ...
Auditing
August 23, 2021
While the trucking business has little complexity involved within its own operations, the broader industry has no dearth in complications arising from seemingly straightforward processes. ...
Accounts Payable
August 13, 2021
Providing ROI is #1. OpenEnvoy is committed to providing an immediate and meaningful cash flow ROI for organizations by automating costly finance workflows that prevent billions of dollars in wasted ...
Customer Experience
August 09, 2021
At OpenEnvoy, design literally has a seat at the table. But more importantly, it's valued as a differentiator by both Matt and I as founders. ...
Customer Experience
July 30, 2021
Customer Success’ Mission: OpenEnvoy's Customer Success team turns our customers into advocates who fuel the continued growth of our company. Let’s break that down a ...
Automation / Hyperautomation
July 27, 2021
The role of the CFO in a post-pandemic world has become more critical than ever. Today’s CFOs are tasked with leading the way for new ...
Automation / Hyperautomation
June 22, 2021
If you read our previous blog post about how CFOs can save on time and money spent by finance teams, you know that both are incredibly valuable. But, skimping on ...
DE&I
May 08, 2021
When Lilit Davtyan joined digital marketing network Zero Parallel as the sixth hire, she recalls joking with a colleague that her position was that of ...
Finance
April 13, 2021
Time is the great equalizer in life. On any given day, no one person has more or less than another. Some choose to spend their ...
Auditing
April 03, 2021
The right freight invoice auditing process is critical if you want to control high shipping costs. Are you ready to avoid vendor overcharge and reap ...
Auditing
March 29, 2021
With 2020 filled with so much volatility, it’s become a necessity to step up the game, get things in order, look for tasks that can be outsourced, and consider hiring ...
DE&I
March 20, 2021
Finance professionals may spend a lot of time crunching numbers. But for Michelle Ferguson, a longtime executive at S&P Global turned mentor for professional women, ...
Finance
March 07, 2021
Today, a successful chief financial officer does not only focus on risks and opportunities behind the numbers but acts as a strategic business partner to ...
Accounts Payable
March 05, 2021
For freight brokers and third-party logistics vendors, efficiency is king. Whether in packing a freight truck or tracking invoices, wasted time and resources can quickly ...
Reconciliation
February 24, 2021
As you start scaling your company and finance team, what can you do to improve your accounting processes at a lower cost? Luckily, technology has begun to evolve to tackle ...
DE&I
February 07, 2021
Kristen Malone will be the first to admit: She’s a bit of an Excel nerd. Malone, Director of Financial Planning and Analysis at New York-based ...
DE&I
January 29, 2021
As a finance veteran with decades of experience in the field, Ann Bakker has witnessed a host of changes, ranging from improvements in technology to ...
Thought Leadership
January 26, 2021
Twenty years ago there were men on trading floors wearing yellow jackets screaming at one another negotiating a price in real-time. These trades had to ...
Auditing
January 13, 2021
It’s time to automate invoice auditing and improve your bottom-line. Controllers, VPs of Finance, and CFOs know there’s money to be protected and saved by reviewing every invoice received, but ...
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We're committed to your privacy. OpenEnvoy uses the information you provide to us to contact you about our relevant content, products, and services. You may unsubscribe from these communications at any time. For more information, check out our Privacy Policy.
