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. decrease in the likelihood of audit restatements and a 0.9% reduction in audit fees.

Audit 52

Audit Risk Assessment AI Assessments 52

FICO

JUNE 21, 2021

In today’s litigious environment , AI-powered business decisions must be more than explainable, ethical and responsible; we need Auditable AI. Is the model fully explainable, with accurate reason codes that explain automated decisions the model makes, explainable to both model user and the impacted party? Why Auditability Matters.

Audit 116

Audit AI Governance Government 116

FloQast

MARCH 13, 2024

Automation has emerged as a beacon of hope, promising to revolutionize traditional manual methods and alleviate the burdens accounting teams face. However, the path to automation is fraught with challenges. This decentralization hampers accessibility and version control, hindering the review and audit processes.

Reconciliation 84

Reconciliation Automation Compliance Mitigation 84

FloQast

MAY 13, 2024

Accounting is the backbone of financial transparency and corporate governance, and the profession is undergoing a transformation driven by technological advancements and shifting market dynamics. economy could be automated. economy could be automated. However, blockchain technology isn’t going away.

Accounts 52

Accounts Technology Cybersecurity Audit 52

PYMNTS

JANUARY 26, 2021

Usually, the auditing workflow involves looking at expense reports filed by employees, with a focus on identifying potentially erroneous or even fraudulent transactions. But without an automated approach to spend management, organizations are missing out on more than the ability to reign in excessive spend by one worker.

Audit 75

Audit Continuity Automation Risk 75

Nanonets

APRIL 10, 2024

Automation in accounts payable refers to using software to digitize, streamline, and optimize the end-to-end process of managing payables. In this blog, we will discuss Sage Intacct , specifically for finance teams, and how Account Payable Automation (APA) is the next step to improving the process.

Automation 52

Automation Accounts AI Audit 52

Nanonets

APRIL 1, 2024

Failure to maintain this discipline can lead to financial pitfalls, including overdrafts, bounced checks, and inaccuracies in financial reporting and auditing practices. This inconsistency complicates financial record-keeping, potentially leading to audit issues and challenges in reconciling finances.

Reconciliation 52

Reconciliation Checks Automation Process 52

Nanonets

FEBRUARY 1, 2024

Accounts Payable (AP) automation is the use of technology to streamline and improve the process of managing a company's bills and payments owed to others. Instead of manually handling invoices, checking them, and making payments, AP automation uses software to do these tasks more quickly, accurately, and with less human effort.

Automation 64

Automation Accounts Process Multi-Currency 64

EBizCharge

AUGUST 23, 2024

The choice between manual and automated accounting systems can significantly impact organizational efficiency. This article will explore the key differences between manual and automated accounting systems, exploring various aspects such as process, accuracy, cost, and scalability. Manual vs Automated accounting: What’s the difference?

Automation 52

Automation Accounts Encryption Transactions 52

PYMNTS

OCTOBER 9, 2020

Venture capital funding landed at supplier payment and compliance automation firms this week, among other B2B innovators that raised money. We have built world-class expertise and technology, in partnership with our customers, to address the firmware risk,” Eclypsium CEO Yuriy Bulygin said in an announcement. “We Firms in the U.S.,

Compliance 107

Compliance Automation Audit Cybersecurity 107

Finextra

FEBRUARY 29, 2024

Appian (Nasdaq: APPN) has partnered with Symphony, the leading markets’ infrastructure and technology platform, to help banks and financial services firms communicate, collaborate, and automate compliantly in a highly competitive and regulated market.

Audit 73

Audit Automation Regulations Technology 73

Nanonets

JULY 18, 2023

Fortunately, cutting-edge advancements in automation technology have revolutionized the accounts payable landscape, offering businesses an opportunity to streamline their workflows and achieve unprecedented levels of efficiency. Photo by Carlos Muza / Unsplash What is NetSuite Automation? What is Oracle NetSuite?

Automation 52

Automation Reconciliation Audit Correspondent 52

Nanonets

APRIL 16, 2023

Source: esker The introduction of intelligent automation into the accounts payable process minimizes the risk of manual intervention, accelerates operations, and helps maintain compliance. It’s a technology that integrates complex accounting functions and can form an integral part of your core operations.

Automation 52

Automation AI Accounts Reconciliation 52

Nanonets

DECEMBER 4, 2023

Automated order processing is the solution. It harnesses AI, OCR, and automated workflows to handle orders accurately and efficiently. By automating, you ensure real-time updates and error-free transactions, meeting today's demand for immediate and reliable service. What is automated order processing?

Automation 52

Automation Process Payment APIs and Integration Returns 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

PYMNTS

FEBRUARY 19, 2018

Or perhaps AP stands for the last mile of automated processes? In the latest Topic TBD, Chen Amit, CEO of payables automation company Tipalti , told PYMNTS’ Karen Webster that automating the AP process lets management focus on, well, managing. But moving from manual to automated tasks is no easy feat.

Audit 51

Audit Automation Cross-Border Cross-Border Payments 51

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

PYMNTS

SEPTEMBER 16, 2020

Cloud enterprise resource planning (ERP) company Acumatica has rolled out its Acumatica Advanced Expense Management and Electronic Bank Feeds for its Acumatica Cloud ERP solution, which will increase automation and electronic banking, according to a press release. And anomaly detection and streamlined bank reconciliation will be available.

Automation 76

Automation Electronic Banking Reconciliation Audit 76

PYMNTS

SEPTEMBER 10, 2019

Expense management and reporting technology firm AppZen announced a $50 million fundraise Monday (Sept. Our AI technology changes that as it … learns from those data, intelligence from thousands of internal and online sources, and the collective feedback from millions of hours of finance professionals’ time.”.

Audit 43

Audit AI Automation Assessments 43

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.

Automation 52

Automation B2B Payment APIs and Integration Payments 52

PYMNTS

APRIL 26, 2020

Accounts receivable (AR) platform SurePayd is responding to the coronavirus pandemic by reducing the costs for its remote migration audit services for the next two months for companies that need to go on the cloud during the crisis, according to a press release. The automation of AR and invoicing has particularly been of interest.

Audit 56

Audit Automation Accounts Transactions 56

PYMNTS

JUNE 14, 2017

Worse, researchers found many companies are using manual processes to audit hotel prices and to use those negotiated rates, making it more difficult for a business to identify when it’s losing out on savings. But that auditing is infrequent, with just 3 percent reporting that they audit this information every week.

Audit 43

Audit Automation Payments Research 43

Nanonets

JUNE 15, 2023

The advantages of efficient document workflows are numerous: Improved Productivity : Automating repetitive tasks allows employees to focus on more critical, strategic tasks. Increased Accuracy : Automated processes reduce human error, ensuring the accuracy of documents. decided to automate its accounts payable process.

Automation 52

Automation Payment APIs and Integration Audit Process 52

VISTA InfoSec

MARCH 6, 2024

Changes Access Controls "Limit viewing of audit trails" to those with a need. audit log security principles are mostly unchanged. Automation Emphasis Mentions both manual and automated log review tools. mandates the use of "automated mechanisms" for daily reviews. Strong shift towards automation. No changes.

PCI DSS 130

PCI DSS Procedures Best Practices Risk Assessment 130

PYMNTS

JANUARY 14, 2021

The adoption of multiple platforms is giving rise to so-called "app fatigue," and the challenge of integrating these technologies with each other is not always easily overcome. Data integration is foundational to achieving an optimal level of automation in any workflow in the enterprise. Driving Finance Automation.

Automation 70

Automation Finance Payment APIs and Integration Use Case 70

Nanonets

NOVEMBER 21, 2023

Automating the accounts payable approval process in your company is essential because it saves significant time, reduces costs, improves cash flow management, strengthens internal controls , and improves supplier satisfaction.   And hope the needed invoice hasn’t been lost by then. (If

Automation 52

Automation Process Accounts Rules 52

Nanonets

JUNE 15, 2023

Accounting automation has become a game-changer in the financial world. Accounting automation can help streamline operations, reduce errors, and save time and resources. In a survey, 58% of accountants said automated accounting led to increased efficiency. What is  Accounting Automation?

Automation 52

Automation Accounts Payroll Process 52

FloQast

APRIL 30, 2024

One common pitfall is the reliance on manual processes or fragmented technology solutions for managing compliance efforts. Simply put: streamlining and automating manual processes would reduce the complexity, burden, and, oh yeah, risk associated with running compliance programs. Audit Pain and Expense : I hear you.

Compliance 96

Compliance Addressing Audit Risk 96

Nanonets

SEPTEMBER 22, 2023

Robotic process automation (RPA) is a game-changer for the accounting industry, offering significant improvements in efficiency and productivity. By automating repetitive tasks, RPA allows organizations to reduce human errors and free up employees for more impactful work. Benefits of RPA in Accounting 1.

Automation 40

Automation Accounts Process Reconciliation 40

FloQast

MARCH 21, 2024

By smartly leveraging technology and automation, companies can reduce expenses while maintaining—or even enhancing—the efficiency and effectiveness of their compliance programs. The shortages drive up internal labor costs and external audit costs each fiscal year. However, there is a silver lining.

Compliance 52

Compliance Audit Automation Risk Assessment 52

Nanonets

MARCH 22, 2024

Tipalti is a market leader in AP automation. This guide will evaluate the top Tipalti competitors to help you find your ideal AP automation partner. Nanonets Nanonets is a pioneering AI-powered platform that revolutionizes business and accounting automation. Automated workflows 4.5 4 Integrations 5 4 Ease of use 5 3.5

Automation 52

Automation Payment APIs and Integration Multi-Currency Compliance 52

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 104

Close Processes Compliance Automation Risk 104

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

FICO

MARCH 17, 2020

The FICO® Blaze Advisor® Decision Rules Management System has also reduced decision time on applications down from two hours to 10 minutes, while improving controls, capturing rules and creating an audit trail. SA Taxi implemented FICO’s Blaze Advisor solution to increase its automated lending. by FICO.

Automation 75

Automation Advisors Rules Audit 75

Nanonets

OCTOBER 16, 2024

Intelligent Data Extraction is an automated process of accurately identifying and extracting relevant data points from documents leveraging modern-day technology. Technologies behind IDE Three main technologies work together to make Intelligent Data Extraction both powerful and accurate. But why do we need it?

Automation 52

Automation Compliance Process Legal 52

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. Artificial Intelligence for Automating Expenses. billion by 2024. Fleet Management. The global smart fleet management industry was valued at $290.9

Automation 41

Automation AI Audit Duplicate 41

Fintech Finance

JUNE 18, 2024

Loop , the modern audit & payment platform for the next-gen supply chain, today announced its collaboration with J.P. Morgan Payments turbocharged our freight audit and pay. Loop’s logistics-AI and automation improve accuracy, speed, and trust, enabling J.P. Together, Loop and J.P. Together, Loop and J.P. Loop and J.P.

Audit 98

Audit Payments Treasury AI 98