Nanonets

APRIL 16, 2023

Looking for an AI based AP Automation solution? Verify bank accounts Automate approvals Instant vendor notifications Check against blacklists OCR and Machine Learning AI & OCR Technology in AP Automation At the start of the invoice management cycle, documents must be scanned so the data can be captured and entered into the system.

Automation 52

Automation AI Accounts Reconciliation 52

PYMNTS

MARCH 31, 2020

Tipalti CEO and Co-Founder Chen Amit said in the release, “The importance of AI in business finance is only going to increase, and we will be adding new capabilities to Tipalti PI over time to support the needs of our customers. ” Tipalti Pi is created to help during the payable process such as by optimizing payables workflow.

Accounts 53

Accounts AI Duplicate Payment Reconciliation 53

PYMNTS

OCTOBER 30, 2019

The new Workflow Spend Playbook highlights the latest solutions, including automation and artificial intelligence (AI), that are helping SMBs keep drivers and workers operating smoothly. Deploying technology – especially AI – can streamline the auditing process and boost cost savings significantly. AI can flag 8.7

Automation 41

Automation AI Audit Duplicate 41

Nanonets

APRIL 3, 2024

In this article, we will discuss the importance of the vendor reconciliation process and the benefits of employing AI-enhanced tools such as Nanonets. Any discrepancies, such as duplicate payments or missing entries, must be identified. Automation helps to mitigate payment errors inherent in manual reconciliation processes.

Reconciliation 52

Reconciliation Process Accounts Duplicate 52

PYMNTS

MARCH 28, 2019

Automated expense report auditing company AppZen is introducing a new spend auditing platform to analyze supplier invoices using artificial intelligence (AI).

AI 46

AI Audit Agreements Duplicate 46

PYMNTS

AUGUST 14, 2020

This month’s Deep Dive examines how the pandemic is changing AP practices and encouraging corporate buyers to adopt cloud-based systems and artificial intelligence (AI)-powered AP automations. AI-powered tools can help detect such issues and send alerts when they occur, however. Working Efficiently From Home .

Process 106

Process Duplicate Automation AI 106

Fintech Finance

APRIL 22, 2024

Basware , a global leader in AP automation and invoice processing, has introduced AP Protect, an AI-powered solution that empowers finance teams to protect their organisations from the threat of profit loss, invoice errors and fraud. This recovered the value of $191m from a spend of $245bn.

Fraud Prevention 52

Fraud Prevention Duplicate Automation Scams 52

Nanonets

AUGUST 1, 2023

Notably, artificial intelligence (AI) has emerged as a key disruptor, holding immense potential to reshape accounting and assurance professions. AI also plays a crucial role in detecting fraudulent activities, scrutinizing transactions, and alerting auditors to potential irregularities. How is AI used in audit?

Audit 52

Audit Risk Assessment AI Assessments 52

Nanonets

APRIL 12, 2024

We will detail the steps for some of the basic operations of managing invoices in Sage Intacct, briefly touch upon advanced features, and discuss the role of improving efficiency with automation and AI. It can capture data from the invoice and flag duplicate invoices. 

Automation 52

Automation AI Accounts Reconciliation 52

Nanonets

NOVEMBER 30, 2023

  AI-driven optical character recognition (OCR) accurately digitizes and captures vendor invoice data, including line items. AP automation systems flag exceptions and duplicate invoices to avoid payment errors.  Invoices can be uploaded by suppliers through the vendor portal or received by email or other available methods.  

Best Practices 52

Best Practices Accounts Automation Electronic Funds Transfer (EFT) 52

Nanonets

APRIL 10, 2024

Account Payable Automation or APA becomes crucial to digitize, streamline, and optimize Account Payable Automation with Sage Intacct Sage Intacct offers two main ways to automate your accounts payable (AP) process: Sage Intacct AI: Sage has a built-in AP automation feature with AI capabilities.

Automation 52

Automation Accounts AI Audit 52

PYMNTS

AUGUST 19, 2019

Deploying technology — especially artificial intelligence (AI) — can streamline the auditing process and boost cost savings significantly. As AppZe n noted in a recent report titled “The State of AI in Business Spend,” companies that do not use AI audit only 10 percent of their spending.

Audit 56

Audit AI Regulatory Compliance Duplicate 56

PYMNTS

NOVEMBER 11, 2020

Into that void steps artificial intelligence (AI)-powered liquidity management systems. percent of finance leaders are evaluating or investing in AP and AR automations, with 67 percent focusing specifically on AI- and ML-powered systems,” per the new Playbook. A recent survey found that 74.2 Platforms Streamlining Mass Payables.

Automation 87

Automation Void Treasury Liquidity Management 87

PYMNTS

DECEMBER 18, 2020

Sixty-seven percent of respondents were actively adopting AI and machine learning or considering doing so, and 74.2 This is a time when spend management and assorted AI-powered solutions are crowding the marketplace – and with good reason. Additionally, duplicate payments are just as serious and will impact the buyer’s cash flow. “An

Automation 64

Automation Process AI Payments 64

Payment Savvy

MAY 12, 2023

Common Issues with Manual Payment Processing Manual payment processing can be time-consuming and prone to errors, resulting in duplicate payments, overpayments, and late payments. Common issues with manual payment processing include: Duplicate payments.

Automation 52

Automation ACH Payments Duplicate 52

PYMNTS

NOVEMBER 10, 2020

A survey of 500 finance professionals found that 54 percent of businesses have sent invoices to the wrong recipients, for example, while 63 percent of businesses have received duplicate invoices. AI-powered inventory and liquidity management are growing more prevalent in the corporate world, and they offer a number of advantages.

Liquidity Management 87

Liquidity Management Treasury Automation Point-of-Sale (POS) 87

Nanonets

APRIL 12, 2023

In this step, organizations validate and clean the data, removing any discrepancies, duplicates, or errors. Errors in data entry and invoice processing : Manual data entry and invoice processing can result in errors, such as duplicate payments or incorrect information, which can lead to additional costs and delays.

Compliance 52

Compliance Automation Duplicate Process 52

Nanonets

MARCH 4, 2024

Duplicate Claims Employees submitting the same expense for reimbursement more than once. However, as the company grew, the CFO, Alex Morgan, noticed several issues: Duplicate Claims:  Employees occasionally submitted the same expense twice due to lack of proper tracking. Read the article below.

Process 52

Process Compliance Automation Audit 52

Nanonets

APRIL 18, 2024

We will also discuss NetSuite and AI-enabled automation to simplify some of the manual processes in AR and AP NetSuite Invoicing - Accounts Receivable (AR) Collecting payments from customers can be a constant struggle for many businesses. This eliminates the need for duplicate data entry, ensuring accuracy and saving you valuable time.

Automation 52

Automation AI Accounts Process 52

Nanonets

DECEMBER 22, 2023

PhantomBuster has introduced advanced AI capabilities such as the AI LinkedIn Profile Enricher Phantom that provides valuable insights into LinkedIn leads, allowing for more informed interactions.     Sales teams can leverage AI Phantoms with various use case ideas. 1,000 AI credits. 1,000 AI credits.

CRM 52

CRM Automation AI Facilitators 52

PYMNTS

NOVEMBER 6, 2020

Sixty-three percent of businesses in the United Kingdom have received duplicate invoices , for example — with 33 percent mistakenly paying them — 58 percent have had to pay suppliers’ late fees, and 90 percent have been pestered by suppliers demanding payments.

Duplicate 62

Duplicate Automation Procedures Treasury 62

Nanonets

JUNE 25, 2024

Modern AP automation software uses AI , ML, OCR , and workflow automation to streamline this process. This leads to time wasted on status inquiries and potential duplicate payments. Look for features like OCR technology, AI-powered data extraction, automated matching, and customizable approval workflows.

Automation 52

Automation Payment APIs and Integration Rules Process 52

Nanonets

MARCH 15, 2024

In this article, we dive into what actual AI automation looks like (and why it isn’t as straightforward). Introduction There is simply no escaping the fact that AI is the most talked about topic on the internet in 2024.

Automation 59

Automation AI Accounts Duplicate 59

PYMNTS

JANUARY 18, 2019

In another report, AppZen debuted a report titled “The State of AI in Business Spend.” The firm said companies that leverage artificial intelligence (AI) when it comes to their expenses are able to audit 100 percent of expenses within a short period of time.

Business Email Compromise 69

Business Email Compromise Scams Audit Payroll 69

PYMNTS

DECEMBER 11, 2019

Powered by artificial intelligence (AI), Erica is tracking to carry out 100 million client requests within a matter of weeks as new features are introduced. Duplicate Merchant Charges Insight lets customers know if they were charged more than once for a purchase. BoA’s mobile app provides consumers with personalized finance guidance.

Enrollments 52

Enrollments Duplicate AI Mobile Banking 52

Nanonets

MAY 7, 2024

By comparing these records, businesses can identify any discrepancies, such as missing or duplicate transactions, incorrect or false amounts, or any unauthorised expenses and transactions. Credit card reconciliation helps identify discrepancies such as fraudulent transactions, duplicate charges, or unauthorised expenses.

Reconciliation 52

Reconciliation Best Practices Compliance Credit Cards 52

Nanonets

OCTOBER 9, 2024

  Read more: How to use AI in bank statement processing How does the bank statement verification process work? Artificial Intelligence (AI) and Machine Learning (ML) : AI-powered tools can detect patterns, spot discrepancies, and flag suspicious transactions that might indicate tampering.

Verification 52

Verification AI Reconciliation Payment APIs and Integration 52

Nanonets

DECEMBER 25, 2023

Duplication of Entries : If the integration isn't set up correctly, you might end up with duplicate entries. This integration is not just about connecting two platforms; it’s about harnessing the power of AI to transform how you handle your finances. This part is a game-changer.

Finance 52

Finance Payment APIs and Integration Best Practices Automation 52

Nanonets

MARCH 4, 2024

Streamline legal document processing with Nanonets' AI-powered OCR software. Konfuzio As IDP software, Konfuzio transforms unstructured data into insights and optimizes processes with AI solutions. It is part of the Google Cloud AI suite. Nanonets' AI adapts to your legal documents.

Legal 52

Legal Automation Laws AI 52

Nanonets

MAY 15, 2023

SaaS providers are leveraging AI to provide advanced functionality such as predictive analytics, natural language processing (NLP), and machine learning (ML). This includes removing underused licenses, consolidating duplicate subscriptions, and trimming overlapping functionality to reduce redundant applications.

Duplicate 52

Duplicate Automation AI On-Demand 52

Nanonets

MARCH 14, 2024

Manual consolidation is prone to errors, leading to issues like overpayment, incorrect payments, and invoice duplication, ultimately causing productivity and trust losses. With Nanonets AI, invoices are read with over 99% accuracy, drastically reducing the time spent on tedious tasks. It lets users know if invoices were handled right.

Payment APIs and Integration 52

Payment APIs and Integration Automation Correspondent Checks 52

Nanonets

JULY 26, 2023

With the advancements in technology, automated solutions using Intelligent Document Processing (IDP) and AI have emerged, revolutionizing the way financial data is extracted. In the next section, we will explore how automated financial data extraction using IDP or AI solutions can transform the way businesses handle financial data.

Automation 52

Automation AI Financial Analysis Volume 52

Nanonets

NOVEMBER 14, 2023

Now imagine coupling that integration with actionable insights propelled by AI-driven Pipeline Management Tools. This is where Nanonets also contributes as an intelligent AI driven workflow automation platform. No AI required here; just deft workflow orchestration ensuring that hot prospects never cool off on the sidelines.

CRM 98

CRM Automation AI Database 98

Nanonets

SEPTEMBER 1, 2023

AI is wonderful for automating manual work, but automating business processes is not just as straightforward as a 1-line prompt. Let's dive in: Introduction There is no escaping that AI will be the most talked about topic on the internet in 2023. Tools like ChatGPT are incredible at answering your questions.

Automation 52

Automation AI Accounts Duplicate 52

Nanonets

MAY 31, 2023

AI-driven automation technologies such as OCR and RPA can enhance touchless invoice processing to be efficient and error-free. Schedule a Demo auto-sync AP data into ERPs Using AI in Automated Invoice Matching Using machine intelligence to handle processes can make complex tedious work, simple and easy.

Automation 52

Automation Audit Process Duplicate 52

FICO

JULY 10, 2018

This is the second in my series on five keys to using AI and machine learning in fraud detection. Non-monetary may include a change of address, a request for a duplicate card or a recent password reset. For more information: Review Key 1: Integrating Supervised and Unsupervised AI Models in a Cohesive Strategy.

Fraud Detection 40

Fraud Detection Duplicate AI Transactions 40

Nanonets

FEBRUARY 7, 2024

How Nanonets improves AP with Microsoft Business Central  AI-driven, end-to-end Nanonets Flow AP automation contains pre-built accounts payable automation workflows, logic, and built-in OCR for data extraction and capture. SharePoint Connector SharePoint Connector integrated with MS Dynamics 365 Business Central reduces task duplication. 

Automation 52

Automation Accounts Duplicate Process 52