January 23, 2025
Charles Lutwidge
What is Legal E-Billing?
Manually processing an invoice takes an average of almost 14 days. It is inefficient to spend that much time in today’s fast-paced business environment. That is why small and mid-sized legal firms consider “process automation” and “implementation of new technology...
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January 21, 2025
Charles Lutwidge
Difference Between Electronic Transfer and Wire Transfer
Businesses use various ways of sending payments to suppliers, employees or organizations. Expanding the scope of deals requires them to compare a wire transfer vs electronic transfer to recognize the subtle distinctions between these practices. While both methods are widely...
January 13, 2025
Charles Lutwidge
Internal Audit vs External Audit: Which is Better?
Keeping a company’s financial statements in order facilitates ensuring compliance and avoiding hefty fines. Achieving sustainability requires firms to increase the accuracy of manual input and use workflow automation tools to expedite processes. In this guide, we will compare internal...
January 08, 2025
Charles Lutwidge
Best Practices for Vendor Master Data Management
Vendor master data management facilitates collecting detailed information about suppliers. Establishing lasting relationships with business partners empowers companies to achieve sustainable growth. Recording contact details without mistakes allows ventures to keep in touch with exporters and solve issues without delays....
December 30, 2024
Charles Lutwidge
What is Electronic Funds Transfer?
Electronic Funds Transfer (EFT) is a digital process of sending money between two accounts. The popularity of this intuitive approach among consumers and enterprises is expected to increase, as it does not require using checks or other outdated methods. Every...
December 26, 2024
Charles Lutwidge
What Is Return on Investment (ROI)?
Return on Investment (ROI) is a commonly used metric that facilitates the measurement of financial yield. Enterprises utilize it to analyze whether they allocate resources wisely and develop effective strategies to increase gain. Learning how to deploy innovative methods to...
December 19, 2024
Charles Lutwidge
What are ACH Returns?
Making direct payments secure requires using the ACH system managed by the National Automated Clearing House Association (Nacha). Unlike regular wire transfers or cash remittances, ACH operations are considered better protected and more streamlined. When they fail to get settled,...
December 18, 2024
Charles Lutwidge
Improving Law Firm Accounts Receivable Management
Legal practitioners face a laborious endeavor when trying to close out their books without any issues. Achieving sustainable development necessitates embracing an effective approach to managing outstanding invoices. Entities facing payment delays must address cash flow problems to meet obligations...
