Corcentric Featured in New PayStream Advisors Purchase to Pay in Higher Education Report

1888 Press Release – The report finds that colleges and universities may be better prepared for automated payment solutions than other industries, but lag behind when it comes to front-end automation.

McLean, VA – Corcentric, a leading provider of Accounts Payable automation and electronic invoicing solutions, announced today that it has been featured in the recent Purchase to Pay in Higher Education Report from PayStream Advisors.

The report polled a group of higher education executives who participated in PayStream’s electronic invoicing and invoice workflow automation surveys and compared the findings to those of other industries who had taken part in earlier surveys.

Colleges and universities today, like most companies, are working to become more efficient through the introduction of automated solutions. Unlike most for-profit companies, however, institutes of higher learning, though they tend to have a centralized payment department, are highly decentralized when it comes to their purchasing and reporting structures. The result is a reliance on manual handling of paper invoices flowing in from a variety of departments and campuses, and this, in turn, often results in poor recordkeeping, slow payments to vendors, and missed discounts. Although they lag behind other industries in implementing workflow automation and e-invoicing, institutes of higher learning are demonstrably ahead of these same industries when it comes to electronic payments.

Among the findings of this report:• Only 17% see themselves as innovators making significant investments in automation as compared to 31% of those in other industries.• Yet 50% of educational institutions say they have adopted some advanced technology and are evaluating solutions as compared to 33% from other industries.• On the front end, colleges and universities are using or planning to use the following technologies: front-end imaging (42%) and OCR/automated data capture (33%).• When it comes to electronic payments, however, 83% of education executives said they are using or planning to use the technology in the next six months, and 75% said the same for P-cards.• For those institutions that have implemented e-invoicing, 71% identify increased on-time payments and increased ability to capture discounts as the primary benefits, compared to 32% and 36% respectively for other industries.• When asked to name their biggest challenge, 86% of colleges and universities identified supplier adoption as compared to 56% for other industries.

“What is clear from this report is that institutes of higher education have, in many cases, taken the initial steps toward invoice and workflow automation but are concerned and cautious about their next moves. However, when they take a closer look, these same institutions understand how implementing these processes will enable them to streamline their AP processes, track all invoices and documentation, and access valuable analytics tools to improve their departmental performance,” Said Rob DeVincent, Vice President of Product Development at Corcentric.

What Are the Career Opportunities After an Online BCom Course

The classroom is no longer the only place where education takes place in today’s digital environment. Online education has revolutionized the way we learn, offering flexibility and accessibility like never before. Online Bachelor of Commerce (BCom) programs are especially noticeable among the various online degree alternatives since they offer doors to a wide range of rewarding job options.

One of the main reasons behind the huge popularity of online BCom courses, particularly in India, before moving on to discuss job options. The Best Online BCom in India combines academic rigor with technological advancements, delivering high-quality education through virtual classrooms, interactive sessions, and digital resources. Let’s take a look at some of the career opportunities that await completing an Online BCom Course.

Career Paths after Completing an Online BCom Course
Financial Analyst: Gaining an Online BCom gives you a strong foundation in economics, accounting, and finance. This knowledge is highly valued in roles such as financial analyst, where you analyze financial data, trends, and projections to guide investment decisions.

Accountant: With a focus on financial accounting and management accounting, Online BCom graduates are perfect for accounting roles in corporations, government agencies, or as independent consultants.

Business Consultant: Business management and strategy subjects are frequently offered in online BCom courses. This prepares you for consulting roles, where you provide expert advice to businesses on improving efficiency, profitability, and overall performance.

Tax Consultant: Although taxation is a specialized profession, a thorough understanding of tax rules and regulations is necessary. Completing an Online BCom with a taxation specialization opens doors to careers as tax consultants, helping individuals and businesses navigate complex tax issues.

Banking and Finance: Online BCom graduates are in high demand by banks and financial institutions for positions as investment bankers, bank managers, loan officers, and financial advisors, among others. These roles involve managing financial transactions, advising clients, and assessing risks.

Auditor: Auditing is important for ensuring financial transparency and compliance. Online BCom graduates can work as auditors, examining financial documents, evaluating internal controls, and identifying areas in need of development.

Data Analyst: Organizations rely on data analysis to inform decisions in the big data environment. Your ability to evaluate data, identify trends, and generate insights as a data analyst can be enhanced by combining your experience in commerce with the data analysis abilities you learned throughout your online BCom.

Human Resource Manager: Understanding business principles is important for HR managers. Online BCom graduates with a focus on HR management can pursue careers in recruitment, training, employee relations, and organizational development.

Conclusion
An online BCom course opens doors to a world of professional possibilities and is more than just a degree. The Best Online BCom in India can give you the knowledge, skills, and flexibility you require to survive in the competitive today’s job market.

UPSC Prelims Syllabus 2024: A Comprehensive Guide for Aspiring Civil Servants

The Union Public Service Commission (UPSC) Civil Services Examination (CSE) is one of India’s most prestigious and challenging exams. It is the gateway to a coveted career in the Indian Administrative Service (IAS), Indian Police Service (IPS), Indian Forest Service (IFS), and various other Central Services.

Cracking the UPSC CSE requires meticulous planning, unwavering dedication, and a thorough understanding of the syllabus. This comprehensive guide to the UPSC prelims syllabus 2024 will equip you with the knowledge needed to navigate your UPSC preparation journey effectively.

UPSC Syllabus for CSE Prelims

The IAS Prelims is the initial stage of the Civil Services Examination. In 2023, over 11 lakh candidates applied for the UPSC Prelims, while approximately 10 lakh candidates applied in 2022.

Understanding the syllabus for IAS Prelims is crucial as it serves as a screening test that qualifies candidates for the next stage, the Mains. All UPSC exam aspirants must familiarize themselves with the exam pattern and IAS Exam syllabus before beginning their preparation.

Aspirants preparing for the UPSC 2024 should ideally start their preparation by February 2023. A year-long preparation period is essential for scoring well in the UPSC 2024 exam. This timeline is critical for a planned and smooth preparation phase, allowing aspirants to strengthen their concepts and resolve any doubts related to the topics.

UPSC Syllabus for GS Paper (Prelims Paper I)

Current events of national and international importance.
History of India and Indian National Movement.
Indian and World Geography-Physical, Social, Economic Geography of India and the World.
Indian Polity and Governance – Constitution, Political System, Panchayati Raj, Public Policy, Rights Issues, etc.
Economic and Social Development – Sustainable Development, Poverty, Inclusion, Demographics, Social Sector initiatives, etc.
General issues on Environmental Ecology, Biodiversity, and Climate Change – that do not require subject specialisation.
General Science.
UPSC Syllabus for CSAT Paper (Prelims Paper-II)

Comprehension
Interpersonal skills including communication skills
Logical reasoning and analytical ability
Decision-making and problem solving
General mental ability
Basic numeracy (numbers and their relations, orders of magnitude, etc.) (Class X level), Data interpretation (charts, graphs, tables, data sufficiency, etc. – Class X level)

Detailed syllabus of mains examination as per UPSC official syllabus

The Mains test is the second step of the Civil Services Exam. Only after passing the prelims test applicants will be permitted to appear for the main exam.

The Mains exam assesses the candidate’s academic skills in depth as well as his or her ability to articulate his or her understanding in accordance with the requirements of the question in a timely way.

The rank of a candidate in the UPSC Civil Service Exam is determined by the marks obtained in the Main and Interview.

Pattern and marking scheme of main examination

The UPSC Mains exam has nine papers for a total of 1750 marks. Out of nine papers, two papers are qualifying, 300 marks each.

The two qualifying papers are as follows:

Any Paper in the Indian Language
Language Paper in English
A candidate must qualify in these language papers to ensure that the marks obtained by such candidates will not be considered or counted. Candidates can write Paper I to Paper VII in English or any of the languages mentioned in the 8th schedule of the Indian Constitution.

Paper I to Paper VII will be taken for evaluation only if the candidate obtained 25% of the marks in Paper A and Paper B. There are 48 Optional Subjects in the UPSC exam. The candidate has to select any one subject among them. Two papers (Paper VI and Paper VII) will be conducted from that for 250 marks each.