Nanonets

AUGUST 1, 2023

The era of automation has brought about a revolution in various industries, and the audit sector is no exception. The integration of Artificial Intelligence (AI), cloud-based data storage solutions, and data analytics tools is set to transform the audit industry, reshaping the way accountants and auditors carry out their tasks.

Audit 40

Audit Automation Risk Assessment Assessments 40

Nanonets

APRIL 24, 2024

Audit Bank Reconciliation Guide  Both internal and external accounting audits are essential parts of financial management as well as organizational risk management. A bank reconciliation audit is one such process that helps in identifying financial gaps or discrepancies. Looking out for a Reconciliation Software?

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

Nanonets

MAY 8, 2023

If not, it may be time to rework your current accounting policies to implement audit trails. Despite what many business owners believe, audit trails aren’t reserved only for companies that receive an audit. Audit trails can prevent fraud, aid in disaster recovery, and ensure compliance with regulatory agencies.

Audit 52

Audit Procedures Disaster Recovery Reconciliation 52

Nanonets

JANUARY 1, 2024

In this blog, we'll delve into what invoice audits entail and why they are crucial for the financial integrity of businesses. What is an Accounts Payable Audit?    An Account Payable Audit is a process by which the financial records of the accounts payable department are examined by an auditor.

Audit 52

Audit Compliance Automation Verification 52

Nanonets

AUGUST 1, 2023

Over the years, the auditing landscape has undergone remarkable transformations, and among the most significant advancements has been the advent of audit automation software solutions. Computer-Assisted Audit Tools and Techniques (CAATTs) have been available to auditors since the early 1990s.

Audit 40

Audit Automation Risk Assessment Payment APIs and Integration 40

PYMNTS

OCTOBER 30, 2020

The following Deep Dive explores the various hurdles that payments face as well as how automation and cloud-based systems can help FIs overcome them. Automating Compliance. Automating Dispute Resolutions. Another common frustration that can be improved through the use of automation is dispute resolution.

Automation 91

Automation Process Disputes AML 91

Stax

MARCH 18, 2025

A typical payment processing procedure involves multiple parties, including the merchant, customer, payment processor, payment gateway, issuing bank, acquiring bank, and card networks. One major advantage is that they automate billing and invoicing. However, theyre less automated and require manual tracking of transactions.

Process 88

Process Payment APIs and Integration Processors Online and Mobile Banking 88

Synapse Payment Systems

JANUARY 3, 2023

Inventory management software automates the process of monitoring your stock and can help you discover trends. An important part of any return procedure is collecting data on why customers are bringing the item back. Standardize Procedures While technology makes a difference, so do your employees. This is where audits come in.

Small Business 130

Small Business Audit Procedures Returns 130

Nanonets

AUGUST 1, 2023

In the rapidly evolving world of auditing, innovative technologies have revolutionized traditional practices. Auditors are now increasingly embracing the agile auditing approach previously used in software development. This strategic allocation of resources optimizes auditing efforts, leading to more focused and effective audits.

Audit 52

Audit Risk Assessment AI Assessments 52

Fintech Finance

MARCH 3, 2025

Issued by Ernst & Young (EY), a leading independent auditing firm, the SOC 2 Type II certification is a rigorous assessment for operating effectiveness of a service providers internal controls. The audit firm will conduct annual reviews, and Antom will continue its recertification process.

Fraud Prevention 52

Fraud Prevention Fraud Detection AI Risk Management 52

EBizCharge

MARCH 18, 2025

Some top reasons to process credit cards in Sage 100 include better payment security, efficiency and automation, faster payment processing, and real-time reporting and insights. Improved efficiency and automation Manual payment processing can be time-consuming and prone to errors, leading to inefficiencies in billing and collections.

Credit Cards 52

Credit Cards Process Security Data Breach 52

Nanonets

MAY 22, 2023

In this article, we will walk through the necessary steps to set up effective financial controls at a startup and how automation and technology can help. Financial controls are the procedures, policies, and means by which an organization monitors and manages its revenues, costs, budgets, cash flow, and other financial aspects.

Automation 98

Automation Procedures Audit Process 98

VISTA InfoSec

JANUARY 29, 2024

a Review documented policies and procedures to confirm that a process is established for regular evaluations of any system components that are not susceptible to malware, encompassing all elements specified in this requirement. Audit logs for the anti-malware solution(s) are activated and preserved in line with Requirement 10.5.1.

PCI DSS 130

PCI DSS Phishing Best Practices Procedures 130

The Payments Association

FEBRUARY 10, 2025

Partnering with regional providers, leveraging AI for fraud detection, and conducting regular audits will ensure compliance, transparency, and operational excellence. Strengthening KYC procedures is critical, ensuring that verification extends beyond master account holders to individual vIBAN end users.

IBAN 88

IBAN AML Master Account Due Diligence 88

The Finance Weekly

JULY 19, 2022

These cutting-edge tools aid teams in streamlining, automating, and improving the accuracy and efficacy of tactical and strategic initiatives. Ensuring that the company's accounts and finances are audit-ready at closing. Customized and automated workflows. Proactive budgeting with an expert understanding of company finances.

CRM 240

CRM Finance Database Automation 240

FloQast

FEBRUARY 14, 2024

Let’s take a look at how FloQast helped the Director of SOX Compliance and Head of Internal Audit at a.k.a Brands’ accounting procedures. ” Moreover, FloQast’s automated reconciliation feature significantly simplified a.k.a “No more lengthy email chains or manual reconciliations.

Compliance 105

Compliance Reconciliation Close Processes Automation 105

PYMNTS

JANUARY 26, 2021

What we're doing is automating that entire process. We're allowing them to ask specific questions for their compliance audit needs,” he said, noting iLobby has relationships with one-fifth of the Fortune 500. Why do I need to have an automated system?’” Mashiyev recalled. That's not the question anymore.

Posting 116

Posting Automation Best Practices Compliance 116

The Finance Weekly

OCTOBER 31, 2021

Many of the same financial issues that profit-seeking enterprises face, such as increasing revenue, managing audits, and dealing with compliance, encounter non-profit organizations (NPOs). This could imply more efficient auditing via online financial software that allows for remote audits.

Audit 130

Audit Accounts Finance Compliance 130

Fintech Review

JUNE 18, 2024

Standardize portfolio management procedures and segregate duties to minimize operational risk. Ensure auditability and the future success of the fund by keeping detailed records of transactions, valuations, and investor communications. Best Practices for Hedge Fund Operations Implement strong governance and oversight.

Reconciliation 98

Reconciliation Compliance Regulatory Compliance Best Practices 98

Stax

DECEMBER 4, 2023

TL;DR An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. An anti-money laundering (AML) program is a set of laws and procedures that seek to uncover attempts to disguise illicit money as legitimate. Let’s get started.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

FloQast

MARCH 25, 2024

Automation can reduce the time to close by 26 % or more. When accountants were asked in the TakeControl 2023 poll about automated workflows and which capabilities were most important to their teams, 15% of respondents indicated accuracy mattered most to them. Leveraging automation will help overcome these challenges.

Close Processes 105

Close Processes Compliance Automation Risk 105

Nanonets

MAY 8, 2023

With intelligent automation , the reconciliation landscape is changing. Reconciliation software (a part of accounting automation software ) like Nanonets helps businesses take control of their spending, keep books up to date and enhance financial reporting with accurate data. Can you automate the reconciliation process?

Reconciliation 52

Reconciliation Automation Process Adjustments 52

VISTA InfoSec

FEBRUARY 16, 2024

The requirement mandates that software development procedures must be documented and examined to ensure that all security considerations are integrated into every stage of the development process. Verification involved examining software-development procedures and interviewing personnel. . The updated requirement of PCI DSS v4.0

PCI DSS 100

PCI DSS Procedures Best Practices Verification 100

FloQast

OCTOBER 21, 2024

There sure is: Automated bank reconciliation. Automating your reconciliations both limits the possibility of errors and significantly cuts the time and effort needed. For accounting professionals, implementing a solid automated bank reconciliation process can change the way they approach financial operations within their business.

Reconciliation 52

Reconciliation Automation Process Best Practices 52

EBizCharge

MAY 13, 2024

Tools like AR automation can streamline these operations. This article will explore the benefits of collections automation, including how it can improve cash flow and overall efficiency for businesses. When businesses automate payment collection processes, they can significantly enhance their cash flow and overall financial health.

Automation 52

Automation Disputes Payments Process 52

Nanonets

APRIL 4, 2023

With the rise of digital mailroom automation technologies, companies can streamline their mail processes, increase efficiency, and reduce costs. Read this guide to learn more about how your business can leverage automated mailrooms to improve operations and boost productivity. What is mailroom automation?

Automation 52

Automation Correspondent Process AI 52

EBizCharge

MAY 14, 2024

Automated billing transforms how businesses handle their finances, offering a seamless and error-free approach to invoicing and payments. With its foundations in digital efficiency, automated billing could be the financial game-changer your company needs. What is automated billing? How does automated billing work?

Automation 52

Automation Payment APIs and Integration Best Practices Online and Mobile Banking 52

The Fintech Times

SEPTEMBER 13, 2024

“Regtech solutions tailored for compliance empower companies to automate, streamline, and elevate their regulatory processes, dramatically reducing the risk of non-compliance. Automating back-office functions is therefore key to not only avoiding fines and penalties, but also ensuring that a firm’s entire operations do not get upended.”

Compliance 73

Compliance FinTech Reconciliation Audit 73

Nanonets

MARCH 21, 2023

How to Start Automating the Purchase Order Workflow The complete purchase order workflow listed in above section can be automated. Purchase order automation can help in this step by allowing users to create and submit purchase requests electronically, thereby reducing manual effort and eliminating the need for paper-based requests.

Automation 52

Automation Process Payment Gateways Addressing 52

Nanonets

AUGUST 21, 2023

B2B payment automation involves everything from the automation of capturing and processing invoices to making payments to vendors and reconciling those payments in your books. B2B payment automation is a game-changer for businesses of all sizes. B2B payment automation is a game-changer for businesses of all sizes.

B2B 52

B2B Automation Payment APIs and Integration Payments 52

Nanonets

SEPTEMBER 21, 2023

Finance automation  is revolutionizing the way businesses manage their financial processes, streamlining operations, and maximizing productivity. Key areas that can benefit from automation include  accounts payable ,  accounts receivable ,  spend and expense management , and  financial reporting.

Automation 52

Automation Finance Assessments Compliance 52

Nanonets

MAY 6, 2024

  Automation tools mitigate the risks associated with manual reconciliation processes by automating repetitive tasks and providing robust error-checking mechanisms.  BlackLine is a cloud-based financial automation platform designed to streamline and modernize accounting and finance processes.

Reconciliation 52

Reconciliation Accounts Audit Automation 52

The Payments Association

JANUARY 29, 2025

A monitoring framework must be implemented without delay and include structured assurance processes, documented procedures, and regular reviews to identify breaches early and mitigate regulatory risks. Inadequate pre-implementation testing : The VREQ flags effectiveness was not thoroughly tested across all systems.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

CB Insights

NOVEMBER 2, 2017

Regtech software is digitizing compliance procedures and eliminating the backlog. The next wave of regtech will leverage advanced technology like machine learning, natural language processing (NLP), and blockchain to replace old policies and procedures. The volume of regulation has created more surface area for compliance gaps.

Compliance 72

Compliance Regulations Audit Office of the Comptroller of the Currency 72

Neopay

OCTOBER 3, 2024

Key takeaway : If your business deals with high-risk clients, it’s crucial to implement enhanced due diligence procedures. Automated systems need regular review Starling’s financial sanctions screening system had been flawed since 2017, with the automated system checking only a fraction of customers against relevant sanctions lists.

Financial Crimes 59

Financial Crimes Crime Due Diligence Compliance 59

FICO

MARCH 24, 2021

Evolution of traditional trade finance models from paper and process-intensive models to a data-driven, automated decisioning mode. Conducting internal monitoring and auditing. Other Risk Considerations. Designation of qualified compliance officer along with a compliance oversight committee (or governance committee).

Money Laundering 98

Money Laundering SARS Financial Crimes Fincen 98

FloQast

MAY 13, 2024

Understanding the Impact of Technology Software automation plays an important role in helping companies scale their internal controls, and then mature and maintain their control environment. Instead, CFOs should view technology as a means to support employees, and reduce friction and pressure as they mature their control environment.

Compliance 52

Compliance Audit Automation Accounts 52