PYMNTS

MAY 7, 2020

Duplicate invoices, non-optimal approval routing procedures, and missed early payment discounts are also top friction points for AP departments today. But process mining has potential on the other end of a B2B transaction as well. Guiding Digitization Maturation.

Process 56

Process B2B Payments Accounts 56

CB Insights

MARCH 21, 2018

A contract is a paper agreement between two or more parties that is enforceable by law; a smart contract is an agreement between two or more parties that lives on a blockchain and is enforceable by code. Denials can occur as a result of anything from failure to obtain proper authorization for a procedure, or improper data entry.

Blockchain 78

Blockchain Audit Process Risk 78

PYMNTS

FEBRUARY 11, 2020

The procedural burden of verifying a high volume of documents and mitigating fraud and cybersecurity risks has had a particularly profound impact on the ability of smaller businesses to access trade finance, noted Tarone, adding that one of SMBs’ biggest barriers to global expansion is accessing the financing that is necessary to grow.

Finance 53

Finance Technology Cross-Border Distributed Ledger Technology (DLT) 53

Nanonets

SEPTEMBER 25, 2024

Set up rule-based workflows to identify and remove any duplicate entries and human review for complex or ambiguous transactions. Regularly analyze reasons for variances (for eg: format differences, fraud, duplicate records) Discrepancy identification During reconciliation, any mismatches are flagged for further review.

Process 52

Process AI Best Practices Reconciliation 52

Nanonets

NOVEMBER 15, 2023

Clearly Defined Payment Terms : Payment terms detail the financial agreement between the buyer and seller. Prevention of Duplicate Invoicing and Invoice Fraud : PO Flip also serves as a powerful tool against invoice fraud and duplications.

Duplicate 52

Duplicate Automation Process Facilitators 52

Nanonets

SEPTEMBER 1, 2023

Once your financial institution or service provider integrates this solution, the process remains seamlessly user-friendly, requiring no specialized procedures akin to the user side. "The FedNow enables payments to be executed before the stipulated deadline, aligning with vendor agreements. per invoice during processing.

FedNow 52

FedNow Wire Transfer Federal Reserve ACH 52

Nanonets

FEBRUARY 6, 2024

Reconciliation helps remove duplicate entries and rectify errors. The external transactions go through the routine account reconciliation procedure, where the general ledger is matched with documents like bank statements. " The supporting document would be the loan agreement or the loan disbursement payment records.

Reconciliation 52

Reconciliation Adjustments Automation Transactions 52