AI 201: The State of AI in Finance Departments

2024 Media Trends for Agency Finance Professionals

2024 is set to be a pivotal year in the media industry due to significant events such as a Presidential election and the Olympics, viewers migrating to streaming platforms amid a content drought from the 2023 writers’ strike, and media giants embracing interactive content through VR and the Metaverse.  Digitization will fuel innovation, efficiency and audience targeting with data analytics, while many agencies are navigating what to do with client requests for extended payment terms.  In this episode, AvidXchange’s host Chris Elmore and guest Theresa Contario, AvidXchange’s vice president and business line executive, media, and a former media planner, discuss how you can navigate the evolving media landscape in 2024 to achieve your goals by discussing three main trends:  * Advertisers shifting to digital    * Data becomes critical * Requests for extended payment terms  Host: ⁠Chris Elmore⁠, Chief Evangelist at AvidXchange  Guest: ⁠Theresa Contario⁠ [https://www.linkedin.com/in/tmencarini/], AvidXchange’s Vice President and Business Line Executive, Media  Related Reading:   * ⁠Media Forecast 2024⁠ [https://www.avidxchange.com/resources/media-forecast-2024/?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000004UQ2nIAG&utm_content=NT]  * ⁠Media Predictions for 2024⁠ [https://www.avidxchange.com/blog/media-predictions-2024/?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000004UQ2nIAG&utm_content=NT]  * ⁠AI for Media: 7 Powerful Applications⁠ [https://www.avidxchange.com/blog/ai-for-media/?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000004UQ2nIAG&utm_content=NT]  This episode was originally published on 4/5/2024. Please subscribe to ⁠The Power of Change⁠ [https://podcasts.apple.com/us/podcast/the-power-of-change/id1665944058] podcast for our newest podcast content. Learn More: ⁠Request a Demo⁠ [https://www.avidxchange.com/request-a-demo/?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000004UQ2nIAG&utm_content=NT]  Follow AvidXchange on ⁠LinkedIn⁠ [https://www.linkedin.com/company/avidxchange-inc-/] & ⁠Instagram⁠ [https://www.instagram.com/avidxchange/?hl=en]  “Net 30” is a podcast series from AvidXchange that offers a detailed look at the problems and solutions impacting the careers of finance professionals with a focus on AP automation’s role.

How to Prepare for Busy Times in Accounting Departments

Effectively managing busy times of the year is crucial for accounting professionals to ensure timely payments, maintain accurate records and avoid costly errors.  By planning ahead, prioritizing tasks and utilizing technology, accounts payable (AP) pros can navigate peak periods efficiently and maintain a smooth workflow throughout the year.    In this episode, AvidXchange’s host Chris Elmore and guest Chris Perry, account executive, real estate at AvidXchange and a former controller, discuss how to prepare for:  * Month-end and year-end closings    * Tax and audit season   * Budgeting season   * Holidays, PTO and work-life balance    Host: ⁠Chris Elmore⁠, Chief Evangelist at AvidXchange  Guest: ⁠Chris Perry⁠ [https://www.linkedin.com/in/chris-perry-abbb44a/], Account Executive, Real Estate, AvidXchange   Related Reading:   * ⁠7 Tips for a Smooth Year-End Close⁠ [https://www.avidxchange.com/blog/ap-automation-expert-rhonda-greene-on-year-end-closing-best-practices/?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000004UOQpIAO&utm_content=NT]  * ⁠More Sun, Less Burnout: Encourage Team PTO This Summer⁠ [https://www.avidxchange.com/blog/summer-vacation/?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000004UOQpIAO&utm_content=NT]  * ⁠CFO Best Practices for 2024 and Beyond⁠ [https://www.avidxchange.com/blog/interview-avidxchange-cfo-joel-wilhite-budgeting-best-practices/?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000004UOQpIAO&utm_content=NT]  This episode was originally published on 3/22/2024. Please subscribe to ⁠The Power of Change⁠ [https://podcasts.apple.com/us/podcast/the-power-of-change/id1665944058] podcast for our newest podcast content. Learn More: ⁠Request a Demo⁠ [https://www.avidxchange.com/request-a-demo/?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000004UOQpIAO&utm_content=NT]  Follow AvidXchange on ⁠LinkedIn⁠ [https://www.linkedin.com/company/avidxchange-inc-/] & ⁠Instagram⁠ [https://www.instagram.com/avidxchange/?hl=en]  “Net 30” is a podcast series from AvidXchange that offers a detailed look at the problems and solutions impacting the careers of finance professionals with a focus on AP automation’s role.

Back to the Basics of Accounts Payable

Finance professionals are focusing on new ways to help their businesses boost productivity, grow faster, do more with less and stay competitive. A great place to start is by understanding the basics of accounts payable (AP) processes and the role automation can play.  Wondering, “What is AP automation?” Need an AP Automation 101 course? You’ve come to the right place. In this episode we’re going back to basics, explaining what AP automation is, how it differs from manual AP processes and what benefits AP departments can expect from automating.  AvidXchange’s host Chris Elmore and guest Rhonda Greene, principal solutions consultant at AvidXchange and a former AP manager, answer the following questions:  * What are traditional vs. modern AP processes?    * What are the benefits of AP automation?   * What questions should companies ask before automating AP?    Host: ⁠Chris Elmore⁠, Chief Evangelist, AvidXchange  Guest: ⁠Rhonda Greene⁠ [https://www.linkedin.com/in/rhonda-greene-apsc-b141484/], Principal Solutions Consultant, AvidXchange  Related Reading: ⁠Mastering Fundamentals of AP Automation⁠ [https://www.avidxchange.com/resources-home/mastering-fundamentals-of-ap-automation/?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000004UM8vIAG&utm_content=NT]  This episode was originally published on 3/1/2024. Please subscribe to ⁠The Power of Change⁠ [https://podcasts.apple.com/us/podcast/the-power-of-change/id1665944058] podcast for our newest podcast content. Learn More: ⁠Request a Demo⁠ [https://www.avidxchange.com/request-a-demo/?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000004UM8vIAG&utm_content=NT]  Follow AvidXchange on ⁠LinkedIn⁠ [https://www.linkedin.com/company/avidxchange-inc-/] & ⁠Instagram⁠ [https://www.instagram.com/avidxchange/?hl=en]  “Net 30” is a podcast series from AvidXchange that offers a detailed look at the problems and solutions impacting the careers of finance professionals with a focus on AP automation’s role.

AI 301: Debunking Common Misconceptions About AI in Accounts Payable

In ⁠Part 1⁠ [https://open.spotify.com/episode/56BdPyYqNK1ossR43rJCnk] of our AI podcast series, we talked about the basics of AI – defining the different types and applications in which accounts payable (AP) departments are using AI. In ⁠Part 2⁠ [https://open.spotify.com/episode/5YaDWpUxG38Rb6S12FsSsZ?si=eX-XgOslToCiFSTIac-mYQ], we dove a little deeper to discuss the state of AI in finance departments.  In our final installment of our AI podcast series, we debunk some of the common misconceptions about AI based on AvidXchange’s “2024 Trends” survey of 500 finance executives at middle market companies conducted in September 2023. We also dive into how AI is transforming AP processes.  AvidXchange’s host Chris Elmore and guest David Tareen, senior director of product marketing at AvidXchange, answer the following questions:  * What are the common misconceptions about AI in AP?   * How is AI revolutionizing AP processes?   * Is AI right for your organization?    Host: ⁠Chris Elmore⁠ [https://www.linkedin.com/in/thechriselmore/], Chief Evangelist at AvidXchange  Guest: ⁠David Tareen⁠ [https://www.linkedin.com/in/davidtareen/], Senior Director of Product Marketing at AvidXchange    Want to learn more about AI in AP? Download our exclusive report: ⁠The Ultimate Guide to AI in Finance⁠ [https://www.avidxchange.com/resources/ai-in-finance/?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000003UNGoIAO&utm_content=NT]  This episode was originally published on 2/9/2024. Please subscribe to ⁠The Power of Change⁠ [https://podcasts.apple.com/us/podcast/the-power-of-change/id1665944058] podcast for our newest podcast content.   Want to learn more about AvidXchange? - ⁠Request a Demo⁠ [https://www.avidxchange.com/request-a-demo?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000003UNGoIAO&utm_content=NT]    Follow AvidXchange on ⁠LinkedIn⁠ [https://www.linkedin.com/company/avidxchange-inc-/] & ⁠Instagram⁠ [https://www.instagram.com/avidxchange/?hl=en]    “Net 30” is a podcast series from AvidXchange that offers a detailed look at the problems and solutions impacting the careers of finance professionals with a focus on AP automation’s role.

AI 201: The State of AI in Finance Departments

In our ⁠last episode⁠ [https://open.spotify.com/episode/56BdPyYqNK1ossR43rJCnk], we talked about the basics of AI – defining the different types and applications in which accounts payable (AP) departments are using AI. In this episode, we’ll dive a little bit deeper and talk about the state of AI in finance teams based on AvidXchange’s “2024 Trends” survey. We surveyed 500 finance executives at middle market companies in September 2023 to understand how their organizations are using AI.  AvidXchange’s host Chris Elmore discussed the following topics with guest David Tareen, senior director of product marketing at AvidXchange:  * Whether or not finance pros are embracing AI    * The most popular AI use cases within finance departments   * How organizations are supporting staff through the AI revolution  * And more!    Host: ⁠Chris Elmore⁠, Chief Evangelist at AvidXchange  Guest: ⁠David Tareen⁠ [https://www.linkedin.com/in/davidtareen/], Senior Director of Product Marketing at AvidXchange    Read More: ⁠The Ultimate Guide to AI in Finance⁠ [https://www.avidxchange.com/resources/ai-in-finance/?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000003UIkAIAW&utm_content=NT]  This episode was originally published on 1/29/2024. Please subscribe to ⁠The Power of Change⁠ [https://podcasts.apple.com/us/podcast/the-power-of-change/id1665944058] podcast for our newest podcast content.   ⁠Request a Demo⁠ [https://www.avidxchange.com/request-a-demo?utm_source=Spotify&utm_medium=Podcast&utm_campaign=701Uq000003UIkAIAW&utm_content=NT]    Follow AvidXchange on ⁠LinkedIn⁠ [https://www.linkedin.com/company/avidxchange-inc-/] & ⁠Instagram⁠ [https://www.instagram.com/avidxchange/?hl=en]    “Net 30” is a podcast series from AvidXchange that offers a detailed look at the problems and solutions impacting the careers of finance professionals with a focus on AP automation’s role.