Category Archives: Business

Eliminate Expensive Duplicate Payments Now

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If you’re concerned that your business is losing money through fraudulence and error, then turn to accounts payable audit systems to ensure that you are shielded from these unnecessary overpayments. Risky duplicate payments can add to up to costly amounts for many medium and large businesses. Recovery audit software can provide a low-cost solution to prevent duplicate payments and are an cost-effective alternative to expensive recovery auditing.

Implementing recovery audit software has many business benefits, and is more inexpensive and easier than you may think. First of all, recovery auditing software chiefly and crucially saves you money because it eradicate unnecessary payments. This is no small benefit. Recovery auditing software acts rapidly to recover duplicate payments, which is vital as the possibility of recovery diminishes every month as your suppliers go out of business, merge or get bought. The older your invoices are, the more they’ll cost to recover, so it’s advisable to get on top of them as soon as you can. Accounts payable audit systems allow you to act quickly.

Secondly, recovery auditing software is cheap compared to calling in recovery auditors to identify and recover duplicate payments. The software is capable of eliminating invoicing errors, compliance issues and supplier fraud, as well as duplicate payments. There is a considerable risk that medium and large organisations pay their supplier invoices twice. These are the most frequent and expensive overpayments in the accounts payable process, amounting to a non-trivial percentage of your organisation’s annual spend during the process from purchase to payment.

Thirdly, recovery auditing software requires no costly training, contrary to what you may think.  It is easy to use and free online training is often offered by the provider. This software empowers your own Accounts Payable teams with the correct tools to avoids overpayment, so costly auditor fees are cut and internal processes are improved. Auditing software helps your Accounts Payable team in their efforts to control and optimise processes. With these tools at hand, you can respond your business’s specific needs, reducing fraud and risk and increasing productivity. Once installed, the software stops duplicates before a payment run and therefore avoids the high expense of recovering money externally or internally.

It’s simple to health-check your business first to check whether overpayment is a problem for you. Most providers offer an AP health check for free if your organisation qualifies. The evidence produced forms a sound business case for implementing the software. To make a considerable difference to the cost-efficiency of your AP systems, consider recovery audit software. All past payment data is processed by accounts payable audit systems, so that not only are your previous duplicate payments accounted for, but you can look forward to compliant and accountable payments in the future. Protect your valuable working capital – at such a low cost of ownership, it makes excellent business sense.

Please visit https://www.fiscaltec.com for more.

Accounts Payable Audit Software and the Future of your Company

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An accounts payable audit is a straightforward way of trawling your accounts and finding errors over the last few years that have resulted in you being owed money. One of the worst of the issues it is good at uncovering is that of duplicate payments: where someone submits the same payment details twice, whether by accident or design, meaning that you end up out of pocket. Recovery audit software allows you to locate all the mistaken transactions and take steps to reclaim the money you are owed.

Most businesses are as careful as possible with their accounts. After all, providing accurate accounts is not only a legal and tax requirement: it is sound business sense if you are to have a good picture of where you stand. However, it’s equally true that no one is infallible and mistakes will always happen. This may not even be down to you. If a supplier or customer makes a request for a payment, you may not be aware of any errors it holds. Duplicate payments are the most common of these. It’s a particular problem if it’€™s a regular payment perhaps a monthly invoice from a supplier. Because it is regular and expected, if an additional submission is made then you might not recognise it for what it is. Especially if you have more than one person processing invoices, it is easy to miss.

It’s not just duplicates. There are any number of ways that errors can creep into invoices. With a dozen or so fields to fill out on the average invoice, it’€™s not surprising that around one in every thousand payments (0.1%) is a mistake. For high-volume, low transaction value businesses, that can be a real problem. If you’€™re just getting by, this reality can erode your profit margin and make the difference between going under and staying afloat.

An accounts payable audit should stop the problems in their tracks. Duplicate payments will become a thing of the past, putting you in a good position to go forwards and use the money that your business generates for growth not paying unnecessary bills. Better than that, recovery audit software means you can locate the suppliers and other parties who have overcharged you in the past, and take steps to reclaim the money that you are owed. This means that purchasing the recovery software can pay for itself the first time you run it, allowing you to reclaim up to six years of past overpayments: a welcome windfall for anyone.

Please visit https://www.fiscaltec.com/

BACS Software from Bottomline Technologies: new applications for a winning transfer formula

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“The past is a foreign country: they do things differently there.” – So says Leo Colston, the protagonist of L.P. Hartley’s famous book The Go Between. Certainly this is true of the worlds of business and computing when we look back to 1968 from the vantage point of the present day. Despite the inroads into the popular imagination made by programmes like Mad Men, the common impression one has of business life in the 1960s is of a rather sleepier, simpler era: the image of gentlemen in stuffy suits executing business deals in a formalistic and gentlemanly manner, their days punctuated by long and well-lubricated lunches. This world, in which old boys’ networks rather than social networking sites were the order of the day; when computers were frequently bigger than the plant machinery they counted or ran; when ‘bugs’ in computers more often than not were actual beasts burrowing in the works – seems to be separated from the ruthless, iconoclastic, fast-paced and carnivorous world of post-1980s economic life by a whole lot more than 46 years.Â

But one thing has remained unchanged in those 46 years: BACS payments. Invented in 1968 by Dennis Gladwell of the Joint Stock Banks Clearing Committee, BACS began life as the Inter-Bank Computer Bureau, it cut out the time-consuming and long-winded system of paper-based transfers between banks. Today, thanks to constantly-improving BACS software, BACS is continuing to cut down on paper usage, and make payments more reliable and rapid, for thousands of organisations around the world. Since 2005 the clearing-house has been moved from a telephone-based system to BACSTEL-IP servers, and BACS has really come into its own as an online service, making for even swifter transfers.Â

Even though some other services are challenging for its spot as the world’s premier payment transfer service, over 5 billion BACS payments are made every year, and while some competitors may claim to have faster systems than the BACS software, the majority of all the employees in the UK still receive their wages via BACS.

The continued dominance of this banking behemoth means that the BACS-accredited training schemes offered by Bottomline’s dedicated educators, who know the BACS system inside and out, are of irreplaceable value for businesses – and the same goes for the BACS and Faster Payments software which Bottomline services have developed. When it comes to the leading worldwide payments system, Bottomline Technologies lead the way in BACS software.

Please visit http://www.bottomline.co.uk/ for further information about this topic.

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Video conferencing and its benefits

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video conferencing comes in many guises, from the simple – though still effective – to the extremely sophisticated and expensive. Telepresence video conferencing is the most high-end of the options available. The idea here is that the other person or people in on the call should seem like they are actually in the room with you. That means they employ the highest quality sound and vision communication, depending on high bandwidth connections for the significant amount of data that needs to be transmitted reliably for such high resolution and fidelity reproduction at the other end. That involves specialist equipment and, as such, has an associated price tag. For that reason, it is most frequently employed by big businesses that can both afford the costs and require the best audio visual conferencing that technology can offer. At the other end of the scale there is the simplest camera and microphone set-up, which is cheap enough to be built into many new computers – even netbooks, which might cost only £200-£300. Powered by Skype or other similar software, these are used by millions of people to make cheap or free video calls across the world with only a broadband connection.

There are many advantages to all forms of video conferencing. Cost is one, and is the reason that so many people use Skype. Why pay for a costly international call when you can get one for free online? Throw in the video images as well and you have all the reasons you need. For companies, this cost factor is multiplied when you consider the expense of getting people together for a meeting – especially if they are coming from different countries. This also takes time, and generally you will be spending far longer travelling than in the meeting itself – an inefficient use of time. There are also environmental advantages, since travel is carbon-intensive. That makes a difference in an age where carbon footprint is quantified and incorporated into a company’s results and public image.

Video conferencing will usually pay for itself in a pretty short time. Naturally, there are limits even to the best technology and there is no substitute for a face-to-face meeting. But the benefits are such that every business with any kind of geographic spread – even across a few miles – should consider some form of audio visual conferencing. Whether that’s at the lower end of the spectrum or one of the cutting-edge telepresence video conferencing set-ups will depend on the needs of your firm.

Please visit http://www.edgevision.co.uk/

Powerpoint presentations that shine

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powerpoint presentations have long been a double-edged sword. Good sales presentations using decent Powerpoint design can be a massive asset to a company. A poor presentation, put together by someone who doesn’t know what they are doing, can be a liability.

One of the problems with Powerpoint, as well as its advantage, is that it is so easy to use. Without any training, someone with basic computer literacy can cobble together a slideshow without too much trouble. It’s extremely powerful, allowing you to embed all kinds of different graphics, movies, audio and other effects. So much is built in that a speaker hoping to make a good impression can really go to town, incorporating as many as possible of its capabilities.

This, however, is often a serious mistake. Powerpoint design is a fairly subtle art. Like any audio-visual medium, doing it well is difficult. Just because you can put together a flier with desktop publishing software, or a home movie with a video camera, doesn’t mean that the outcome will convince the audience.

Worse, Powerpoint is so ubiquitous in the business world that there is often the expectation that it will be used – both on the part of the audience and the speaker. That means that presentations can be thrown together simply to fulfil that expectation. Whilst well-designed powerpoint presentations can add a whole new dimension to a speech, giving complementary information and appealing to listeners for whom the spoken word isn’t a natural medium, a poor presentation will switch people off. Put another way, not having a Powerpoint presentation is better than having a bad one. This can hamstring otherwise competent speakers, because they find that the slideshow actually detracts from what they are saying. This is never more the case when it simply duplicates the material verbatim – a mistake that is all too common.

The purpose of sales presentations is to close a deal. Good Powerpoint design can help you with this; bad Powerpoint design can end up losing you the bid. If you are in any doubt, compare a few successful presentations – yours or other companies’ – with ones that haven’t gone so well. What has been the difference? Where Powerpoint adds to clear and effective communication, it is an asset. Where is makes things more complicated and distracting, it’s best left out. The trick is finding out how to do it right, every time.

Please visit http://www.eyefulpresentations.co.uk/

Document processing from a reliable technology provider

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With so much being free in today’s online community, many web users forget to appreciate safe payment systems when they do end up investing in goods or services using their computers. These customers will quite rightly be very dissatisfied as soon as they experience headaches where transactions made over the internet are concerned though, and this is why all businesses operating online in a financially interested capacity will need to be especially vigilant when thinking about the systems they are going to put in place to ease relations between themselves and their clients. Evidently, it is not only cash that will be changing hands in these kinds of relationships; a smooth exchange of data will be just as important to manage. This is why corporations, financial institutions and banks around the world look to specialist companies to help them meet their document management and document processing requirements: ultimately, keeping up good practice in document use will be as crucial to the success of a company as efficient invoice processing.

Those in a position to decide on the way in which their company will deal with their data and payment obligations will be faced with several options where technology providers are concerned. The decision of which provider to use will carry with it a notable weight of responsibility, and should not therefore be taken too hastily. The kinds of things these decision-makers should think about will consist of evaluating the cost, reputation, and ethics of the company whose services such as document management will to an extent determine their own institution’s profile.

The decision-maker confronted should ask him or herself a few questions then, such as: is the technology provider I’m researching used by other well-established and highly regarded corporations? Does the technology provider assist my company in the calculation of its environmental savings? Am I able to read approving reviews of the technology provider I have in mind from reputable sources? If the answer is yes to these kinds of questions, the chances are that data and financial transactions will be safe in the hands of a given technology provider.

Follow in the footsteps of other UK businesses and multinationals such as TDG and Avnet then, by using document processing along with document management systems to seamlessly combine online and paper orders. Those in search of leading payments and invoice processing solutions will not regret choosing an award-winning payments technologies provider allowing them to keep their customers satisfied.

Please visit http://www.bottomline.co.uk/ for further information about this topic.

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Powerpoint design is a necessary skill for great presentations

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PowerPoint presentations are the normal means of communicating messages in a wide range of business contexts. They are used as sales presentations, business pitches to potential clients, suppliers or partners, or internal performance evaluations, to name merely a few of these contexts. In any case it is fair to say that PowerPoint is an absolutely key business tool, and it follows that a company with an excellent grasp of quality powerpoint design holds a valuable edge over competitors who do not. This applies to all contexts of business where PowerPoint is an essential tool.

To make top quality presentations you will require several ingredients. Most obviously, you need an excellent grasp of the software and its capabilities. This means having a thorough understanding each of the functions available in the program. If we’re honest we’ve all come across an obstacle and had to consult a forum, asking “how do you do such and such in PowerPoint”. It takes time, with no guarantee that an adequate answer will be found.

Beyond an awareness and a proficiency in the workings of the program, you need the ability to integrate its functionality with the overall message that you are trying to convey. This requires something more than only computer skills: it requires skill, forethought, even creativity. This is as important as the message you are trying to get across. When a job is not done methodically it is in danger of coming apart at the seams, and PowerPoint presentations are no different. Many an excellent idea has come unstuck in the world of business specifically because of weaknesses in the presentation.

Imagine, for instance, that you are trying to motivate your employees, perhaps by showing statistics of the previous year’s achievements, or by sharing with them your goals for the year ahead. If you cannot provide the information or data in an inspiring way, a large portion of your PowerPoint presentations will be lost in distraction resulting from uninspired presentation. Similarly, your sales presentations to potential clients need to be eye-catching and concise; there is no room for irrelevant information. Sometimes the people you pitch to have to watch more than ten pitches in a day: this can be very boring, and you must not leave it to a tired audience to filter through poor powerpoint design to find out that your ideas are worth listening to.

Please visit http://www.eyefulpresentations.co.uk/ for further information about this topic.

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