Reading Time: 3 minutes Invoicing is essential to business. Apart from being an accounting transaction to collect revenue from customers, it is important for tax reporting and auditing. However, the traditional practice of paper-based invoicing is often time-consuming and error-prone. With digital technology and government mandates, electronic invoicing — e-invoicing — is being adopted. E-invoicing electronically creates and sends … Read more
Reading Time: 4 minutes Manufacturers need better Financial Management systems Gone are the days when basic accounting packages or spreadsheets sufficed for tracking financial data in manufacturing. Those are entry-level financial solutions that cannot scale as the company grows, nor can they help manage various departments, such as order management, the shop floor, or warehousing and inventory. Manufacturing companies … Read more
Reading Time: 5 minutes AI for manufacturers Using artificial intelligence (AI) in manufacturing can significantly improve productivity, reduce equipment failure, increase production efficiency and help identify new business opportunities. The use and discussion of AI has become common. A 2023 survey by McKinsey reported that 79 percent of all respondents had at least some exposure to gen AI, either … Read more
