Nanonets

JULY 25, 2023

What is financial data analysis? Gartner defines financial analysis as the process that provides “insight into the financial performance of an organization.” How is financial data analysis used in business?

Financial Analysis 52

Financial Analysis Payment APIs and Integration Assessments Automation 52

Nanonets

SEPTEMBER 23, 2024

  That's where modern AI-powered tools come in. Now, let’s examine how this is done and explore some advanced AI-powered bank statement analysers (BSA). AI-powered bank statement extraction AI-powered tools are paving the way for financial analysis across all industries.

Payment APIs and Integration 52

Payment APIs and Integration AI Audit Non-Bank 52

Nanonets

JULY 26, 2023

Extracting relevant and accurate financial data from financial and business documents is critical for effective decision-making, financial analysis, and integrity, as well as regulatory compliance. These advanced solutions offer a range of benefits and overcome the limitations of traditional methods.

Automation 52

Automation AI Financial Analysis Volume 52

Nanonets

APRIL 3, 2024

On the other hand, accounting encompasses a broader range of activities, including interpreting financial data, preparing financial statements, and providing insights for decision-making. However, if you require in-depth financial analysis, tax planning, or compliance services, you may need the expertise of an accountant.

Automation 96

Automation Payment APIs and Integration Reconciliation Financial Analysis 96

Nanonets

SEPTEMBER 18, 2024

Financial document automation uses technologies like advanced Optical Character Recognition (OCR), Artificial Intelligence (AI), and Machine Learning (ML) to streamline these processes. 

Automation 52

Automation Audit Payment APIs and Integration Compliance 52

The Finance Weekly

AUGUST 6, 2024

A particularly notable element is its AI-driven what-if analysis tool, which not only detects potential impacts but also visually illustrates the effects of changes across all metrics, making a deeper understanding of their possible consequences. Build comprehensive, multi-dimensional models ten times faster.

CRM 52

CRM Facilitators Fed Finance 52

Nanonets

JUNE 23, 2023

By ensuring accurate balances, organizations can make more informed financial decisions and allocate resources effectively. Financial Analysis and Planning Accurate balance sheet reconciliation provides a solid foundation for financial analysis and planning.

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 52

The Finance Weekly

AUGUST 5, 2023

FP&A professionals hold a crucial role in shaping a company's overall business strategy by delivering financial analysis and insights to management. Explore below some compelling reasons to consider FP&A as a promising career path.

Financial Analysis 52

Financial Analysis On-Demand Finance Compliance 52

Nanonets

JUNE 27, 2023

billion in 2021, propelled by technological advancements, including the introduction of AI-based applications, machine learning, big data, and the Internet of Things (IoT). Recently, OCR tools like Nanonets have evolved to incorporate artificial intelligence (AI) and machine learning (ML).

Payment APIs and Integration 52

Payment APIs and Integration AI Automation Process 52

Nanonets

JUNE 25, 2024

Think of it as giving each expense its own 'address' in your financial records. Detailed invoice coding enables accurate budget tracking, easier reporting, faster approvals, and better financial analysis. Modern AP automation software uses AI , ML, OCR , and workflow automation to streamline this process.

Automation 52

Automation Payment APIs and Integration Rules Process 52

PYMNTS

NOVEMBER 10, 2020

Wielding this data and enhancing it through artificial intelligence (AI) can empower FIs to better understand and even predict the payments needs of their corporate clients. There is one key opportunity for banks to wield the speed of real-time payments for corporates: liquidity management.

Real Time Payments 117

Real Time Payments B2B Value Added Service ISO 20022 117

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. However, these processes involve spending time (and money). It is heavy on synchronous communication.

Automation 59

Automation AI Accounts Duplicate 59

Nanonets

APRIL 29, 2024

Here are some of the top tools in this category: Tookitaki Key Features: Advanced AI-driven matching algorithms. Tookitaki's intercompany reconciliation software leverages artificial intelligence (AI) and machine learning (ML) algorithms to automate the matching and reconciliation of intercompany transactions.

Reconciliation 52

Reconciliation Audit Automation Transactions 52

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. This can lead to delays in financial reporting and decision-making.

Automation 52

Automation AI Accounts Duplicate 52

Nanonets

APRIL 30, 2024

Particularly, extracting data from PDFs —an often cumbersome and error-prone task—has seen significant advancements with the emergence of Artificial Intelligence (AI). How AI-based PDF data extraction addresses these challenges Utilizing AI to extract data from PDFs offers a promising solution to these challenges.

AI 52

AI Due Diligence Automation Use Case 52

Nanonets

APRIL 29, 2024

Human errors are not uncommon, and the time spent rectifying these mistakes could be better utilized for strategic financial analysis and decision-making. Here's why: Advanced Automation : Nanonets harnesses the power of AI and machine learning to automate the reconciliation process efficiently.

Reconciliation 52

Reconciliation Payment APIs and Integration Regulatory Compliance Compliance 52

Nanonets

JUNE 7, 2023

While Chat-GPT may be able to pass the CPA exam and generate incredible walls of text, true AI automation looks different (and isn’t as straightforward as a 1-line prompt). Introduction There is simply no escaping the fact that AI is probably the most talked about topic on the internet in 2023. Where do you start?

AI 52

AI Accounts Duplicate Automation 52

Nanonets

JUNE 7, 2023

While Chat-GPT may be able to pass the CPA exam and generate incredible walls of text, true AI automation looks different (and isn’t as straightforward as a 1-line prompt). Introduction There is simply no escaping the fact that AI is the most talked about topic on the internet in 2023. It is heavy on synchronous communication.

Automation 52

Automation AI Accounts Duplicate 52

Nanonets

APRIL 17, 2023

Nanonets is an AI-based OCR software that can extract text and tables from images with 98%+ accuracy. Financial analysis: You may find some financial reports or data in PDF or image format. But what if you need to extract tables 100s of images regularly, an automated OCR workflow platform like Nanonets is a good choice.

Automation 52

Automation Financial Analysis Database Use Case 52

Nanonets

AUGUST 21, 2024

Introduction Retrieval-augmented generation (RAG) systems are transforming AI by enabling large language models (LLMs) to access and integrate information from external vector databases without needing fine-tuning.

Database 52

Database Returns Process AI 52

Nanonets

APRIL 15, 2024

Opportunity Cost: The time and resources spent on manual reconciliation could be better utilized for more strategic activities, such as financial analysis, forecasting, or business development initiatives.   They ensure accuracy, detect errors and irregularities, safeguard against fraud, and enable regulatory compliance.

Reconciliation 52

Reconciliation Adjustments Correspondent Checks 52

Nanonets

SEPTEMBER 23, 2023

This enables better financial analysis and decision-making, as organizations can assess their budgetary performance and make adjustments as needed. Overall, encumbrance accounting is an essential tool for maintaining financial stability, optimizing budget utilization, and ensuring accurate financial reporting.

Accounts 52

Accounts Government Governance Compliance 52

PYMNTS

MAY 13, 2019

Prioritizing data integration led Complete Controller to recently choose MoreReporting as its next product offering, a solution that integrates with QuickBooks to provide cash flow and financial analysis for users. New Challenges, New Opportunities.

Accounts 61

Accounts Payment APIs and Integration Advisors Data Security 61

Fintech Labs Insights

AUGUST 22, 2024

SAVVI AI : Raised $5.6M for its AI analytics solutions; making significant inroads in healthcare and finance sectors. SAVVI AI : Raised $5.6M for its AI analytics solutions; making significant inroads in healthcare and finance sectors. SAVVI AI: Raised $5.6M TAZI AI: Raised $6.1M Debbie: Raised $2.7M

Online and Mobile Banking 15

Online and Mobile Banking Acquirers Payment APIs and Integration AI 15

Nanonets

MARCH 30, 2023

The "intelligence" in IDP comes from the use of Artificial Intelligence (AI) tools for data extraction. AI has the ability to process repetitive tasks without the cognitive limitations of humans; in fact, AI can produce more accurate results as it continues to process and learn. How does IDP work?

Process 52

Process Automation Compliance Volume 52

The Finance Weekly

JANUARY 22, 2024

These degree programs include coursework that helps students develop analytical skills and learn financial analysis methods and software. Be Proficient in Data and Advanced Analytics To be a strong candidate for the CFO role, it's important to understand data, analytics, and advanced technologies like ,, generative AI.

Finance 52

Finance Risk Management Advisors Treasury 52

Nanonets

SEPTEMBER 21, 2023

Automation empowers finance teams to focus on value-added activities, such as strategic financial analysis and decision-making, driving overall business growth and success. One of the key technologies driving finance automation is artificial intelligence (AI).

Automation 52

Automation Finance Assessments Compliance 52

Nanonets

JUNE 15, 2023

Manual accounting challenges can harm a company's efficiency, accuracy,  security, and financial management. However, new technologies like AI  and RPA have improved accounting. Automation uses AI to handle data,  eliminating repetitive tasks and letting analysts concentrate on important matters.

Automation 52

Automation Accounts Payroll Process 52

PYMNTS

FEBRUARY 27, 2018

Analytics technologies like machine learning, artificial intelligence (AI) and robotics process automation (RPA) turned cash flow forecasting into more of a science than it’s ever been. Of course, at the heart of this advancement is increased access to detailed financial data, but it’s not easy for everyone.

Checks 40

Checks B2B FinTech Small Business 40

Nanonets

JULY 18, 2023

We'll also explore how these intelligent automation tools empower finance teams with smart AI, seamless integration, and user-friendly functionalities to revolutionize their AP workflow and drive transformative results. It utilizes AI and OCR technologies to capture, process, and manage invoices, approvals, and payments efficiently.

Automation 52

Automation Reconciliation Audit Correspondent 52

Nanonets

APRIL 24, 2023

Business sectors that routinely use bank extracts Businesses of all types are increasingly benefitting from the process of extracting financial data from bank statements. The bank extract data can be used for a variety of purposes, such as financial analysis, reconciliation, and strategic planning.

Automation 52

Automation Assessments Fraud Detection Risk Assessment 52

Nanonets

FEBRUARY 28, 2024

This meticulous document serves as the foundation for a company's financial statements, categorizing and recording each transaction. Through this rigorous organization, it provides an essential snapshot, offering a comprehensive view of the company's financial health and facilitating detailed financial analysis and reporting.

Automation 52

Automation Payment APIs and Integration Accounts Transactions 52

Nanonets

NOVEMBER 19, 2023

Accurate financial records: Consistent invoice settlement allows for accurate documentation of all transactions. This aids in better financial analysis and reporting, ensuring all payments, credits, and debits are recorded correctly. Additionally, the format of each invoice may vary.

Settlement 52

Settlement Disputes Payment APIs and Integration Accounts 52

Nanonets

FEBRUARY 14, 2024

Similarly, a retail business that uses separate GL codes for inventory purchases and sales is able to accurately calculate the cost of goods sold (COGS), a critical figure for both financial analysis and tax calculations. This involves uploading historical financial documents and transactions tagged with historically correct GL codes.

Transactions 52

Transactions Audit Accounts Automation 52

Nanonets

SEPTEMBER 22, 2023

Artificial Intelligence (AI) and Machine Learning Organizations are turning to AI and machine learning to improve the accuracy and efficiency of their accounts payable process. For instance, AI can analyze invoice data to identify potential fraud or errors, enabling more effective and efficient decision-making.

Accounts 40

Accounts Best Practices Automation Compliance 40

Fintech Review

AUGUST 21, 2024

One major development is the integration of Generative AI into the fintech landscape. This will revolutionise financial services delivery. Generative AI will also transform market analysis through predictive trading algorithms. Generative AI will also transform market analysis through predictive trading algorithms.

FinTech 105

FinTech AI Financial Analysis Security 105

Nanonets

SEPTEMBER 20, 2024

Applications of Table Extraction Table extraction has wide-ranging applications across various industries, here are a few examples of use-cases where converting unstructured tabular data into actionable insights is key: Financial Analysis : Table extraction is used to process financial reports, balance sheets, and income statements.

Rules 135

Rules AI Process Origination 135