Nanonets

MARCH 26, 2023

Mortgage processing automation helps companies reduce the manual workload involved in mortgage origination and processing, in order to improve accuracy and efficiency. In this post, we will explore how mortgage processing automation using Nanonets and OCR technology can improve your business.

Automation 52

Automation Process Underwriting Fraud Detection 52

FloQast

JUNE 5, 2024

In late 2021, SumUp , a global payments provider serving millions of businesses worldwide, faced significant challenges with their manual, spreadsheet-based monthly Close process. Streamlined Workflows: FloQast offered pre-built templates and workflows specifically designed for the Close process.

Close Processes 52

Close Processes Addressing Reconciliation Automation 52

Nanonets

APRIL 11, 2023

In this blog post, we will discuss the challenges faced by commercial lenders today, the pain points in the loan process, and how loan automation can address these issues to deliver significant benefits to all stakeholders. Automated credit scoring models can quickly process applications, reducing the time taken for credit approval.

Origination 52

Origination Automation Risk Assessment Underwriting 52

FloQast

FEBRUARY 14, 2024

Revolutionizing Accounting Processes FloQast’s influence stretched beyond SOX compliance, positively impacting a.k.a With FloQast’s close management capabilities in place, the finance team optimized their close process and achieved greater efficiency. Brands’ accounting procedures.

Compliance 93

Compliance Reconciliation Close Processes Automation 93

FloQast

FEBRUARY 29, 2024

Every minute saved in the financial close process can translate to significant organizational gains. With a threefold increase in revenue and employee count, the company recognized the pressing need to streamline its financial close process. In the fast-paced world of finance, efficiency and accuracy are paramount.

Close Processes 101

Close Processes Finance Process Automation 101

FloQast

AUGUST 22, 2024

G&W ) , a major freight railroad operator with 115 railroads globally, was facing challenges in their month-end Close process, complicated by a pending ERP migration. FloQast offered immediate productivity gains, comprehensive ERP migration support, and a smooth implementation process, making it the ideal solution for G&W.

Reconciliation 52

Reconciliation Audit Close Processes Compliance 52

PYMNTS

DECEMBER 16, 2016

In a survey conducted by the Institute of Management Accountants (IMA), and sponsored by Blackline, titled “Process Automation in Accounting and Finance,” examining the attitudes and concerns of 750 financial professionals surrounding accounting and month-end closing processes, manual activities remain prevalent — at the cost of time and money.

Automation 74

Automation Process Reconciliation Close Processes 74

FloQast

JUNE 17, 2024

With a diverse portfolio and operations spanning multiple continents, the company faced significant challenges in its month-end Close process. Aspect Energy’s monthly Close times ranged from 15 to 45 days, creating delays in financial reporting and decision-making. Improvements Seen: U.S.

Close Processes 85

Close Processes Best Practices Accounts Process 85

The Finance Weekly

NOVEMBER 3, 2021

Inter-company transactions, currency exchange rates and various non-cash activities only complicate things in an already complex, time-consuming process. Due to the inefficiencies and error proneness of account reconciliation through traditional processes, finance teams should automate through , new technologies in the industry.

Reconciliation 52

Reconciliation Automation Accounts Finance 52

FloQast

AUGUST 14, 2024

Fanatics , a global leader in sports fan experiences and v-commerce, was grappling with an inefficient month-end Close process. Discovering FloQast marked a turning point for Fanatics, providing the efficiency and control needed to enhance their financial processes.

Reconciliation 52

Reconciliation Close Processes Compliance Audit 52

PYMNTS

APRIL 10, 2020

While flashy corporate FinTech is exciting, innovation efforts have rarely focused on a mainstay of corporate finance teams: the financial close process, a crucial, but continually outdated function. But streamlining the financial close process today isn’t only about data integrations with financial platforms, according to Heffernan.

Close Processes 87

Close Processes Finance Automation Process 87

Nanonets

JUNE 13, 2024

To address this issue, organizations prefer using reconciliation software, which can automate the heavy lifting and monotonous tasks while ensuring accuracy and timeliness during the monthly book-closing period. Timely completion of the financial close process helps stakeholders in decision making and reporting.

Reconciliation 52

Reconciliation Automation Accounts Close Processes 52

FloQast

JANUARY 10, 2024

As the company prepared for its initial public offering in 2021, Ryan Harmer , Vice President of Accounting and Corporate Controller, recognized the need for a significant transformation in their month-end Close processes. If you want to automate your accounting Close and everything that goes with it, FloQast is a fantastic tool.”

Accounts 94

Accounts Reconciliation Compliance Close Processes 94

FloQast

MARCH 27, 2024

FloQast Reconciliation Management is designed to allow teams to choose the most effective method for each account, whether supporting manual reviews in a spreadsheet or full automation leveraging FloQast’s AI-driven AutoRec features. Simply put: Not all recs tie out.

Reconciliation 89

Reconciliation Audit Accounts Best Practices 89

Nanonets

JUNE 14, 2024

Challenges of Balance Sheet Financial Close The reconciliation process during the financial close can be challenging for finance teams due to disconnected data sources, a lack of automation, and the sheer volume of transactions. This might lead to potential financial losses and incorrect reporting.

Reconciliation 52

Reconciliation Adjustments Automation Accounts 52

Nanonets

JANUARY 31, 2024

Month-end close is a widely accepted accounting standard that is aimed at keeping an accurate set of financial records and detecting errors/fraud. Month-end reconciliation is the most important part of the month-end close process. This can be easily reduced by using AI automation to save time and cost for your team.

Reconciliation 52

Reconciliation Best Practices Adjustments Correspondent 52

PYMNTS

OCTOBER 20, 2020

Accounts payable and payments automation solution MineralTree has added automated PO and invoice matching for cloud-based accounting and financial management platform Sage Intacct , a press release says.

Automation 52

Automation Reconciliation Procedures Close Processes 52

Nanonets

APRIL 24, 2023

 The lender typically charges a loan origination fee, which is around 1% of the loan amount, to cover the cost of the work involved in the origination process. Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow.

Origination 52

Origination Process Underwriting Automation 52

Nanonets

APRIL 19, 2023

Fortunately, modern technology offers a range of software and automation tools that can simplify various accounting operations, including payment recording, expense tracking, and the Accounts Payable Process. Additionally, automation can help businesses stay compliant with regulations and standards.

Accounts 52

Accounts Payment APIs and Integration Automation Process 52

PYMNTS

APRIL 13, 2020

Traverse Global Service will also automate parts of the process and use conversions to make everything easier for users, the release stated. With the financial close process, some chief financial officers are reconsidering the necessity of having a traditional finance department at all.

Close Processes 56

Close Processes Automation Process Finance 56

Nanonets

FEBRUARY 8, 2024

Among finance professionals and business leaders, AP automation is quickly shifting from an exploratory endeavor to a key strategic priority. If it feels like there is a never-ending supply of these tools, finding the ones that are worth your time and money can be the most time-consuming part of the robotic process automation journey.

Finance 52

Finance Automation Multi-Currency Accounts 52

Nanonets

SEPTEMBER 22, 2023

On the other hand, an efficient  accounts payable process  can significantly improve your business's efficiency and  profitability. By implementing  best practices  and leveraging automation tools, you can maximize the potential of your  accounts payable department.

Accounts 40

Accounts Best Practices Automation Compliance 40

Nanonets

MAY 7, 2023

During the electronic credit card reconciliation process, you use automated expense management tools or semi-automated software like Excel and a reconciliation template to match credit card statements with receipts and invoices electronically. This process is much faster and more accurate than manual reconciliation.

Reconciliation 52

Reconciliation Credit Cards Automation Accounts 52

Nanonets

APRIL 17, 2023

AP automation or accounts payable automation solutions are an attempt to optimise this process for finance teams. By getting rid of slow manual processes and its associated errors, AP automation can enhance relationships with partners and suppliers while also saving time and money. Why automate accounts payable?

Automation 52

Automation Payment APIs and Integration Accounts Audit 52

FloQast

JANUARY 22, 2024

Companies that automate their financial statement preparation processes often benefit from improved accuracy, near real-time data, and increased efficiency. Fact: Companies that automate part of their financial statement preparation process reduce time-to-Close by 33% or more.

Automation 52

Automation Reconciliation Audit Accounts 52

Nanonets

FEBRUARY 28, 2024

We'll also explore how to efficiently manage and utilize your General Ledger, including the implementation of modern software solutions to automate and streamline your accounting processes. Automate your General Ledger The general ledger is the backbone of your company's financial records.

Automation 52

Automation Payment APIs and Integration Accounts Transactions 52

PYMNTS

SEPTEMBER 21, 2017

Using robotics process automation technology, Alan automates tasks to help corporate accountants focus on more strategic and value-add processes. Gappify said Alan can handle both routine, mechanical processes as well as ad-hoc and specialized tasks.

Accounts 45

Accounts Bots Cash Management Automation 45

PYMNTS

JANUARY 20, 2021

“The proceeds are, one, for the acquisition and then, two, to help us build a lot of our engineering and our newest products,” Baker said, calling the full digitization of the mortgage closing process a difficult and significant undertaking. Selling Automation.

Automation 88

Automation Process Transactions Close Processes 88

FloQast

DECEMBER 18, 2023

I would recommend FloQast to anyone who is looking to streamline and optimize their close process!” FloQast has always strived to make the implementation process as seamless as possible. It also helps us to prioritize tasks and automate reminders, reducing the need for manual follow-ups and repetitive requests.

Reconciliation 59

Reconciliation Close Processes Accounts Audit 59

Nanonets

JUNE 27, 2024

Reconciliation is a crucial accounting process that ensures the accuracy of the financial close process. Today, reconciliation is primarily automated through  software  to save time and money. Why is it Important to Reconcile your Bank Account?

Reconciliation 40

Reconciliation Accounts Adjustments Checks 40

Nanonets

APRIL 5, 2024

Tipalti and Airbase are powerful AP automation platforms that can seriously streamline financial processes. Whether you're a finance pro, a decision-maker, or a business owner, this in-depth Tipalti vs. Airbase comparison will give you the insights you need to choose the right AP automation solution for you.

Automation 52

Automation Multi-Currency Compliance Process 52

Nanonets

JUNE 23, 2023

This process is known as the financial close. Balance sheet reconciliation is a crucial step in the financial close process, serving as a vital control mechanism for organizations. To overcome these disadvantages, organizations can leverage technological solutions like automated reconciliation software.

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 52

Nanonets

FEBRUARY 26, 2024

Today, you can automate these processes using accounts payable automation solutions and optimise accounts payable for your finance teams. Our blog cuts through the complexity of AP processes, presenting a clear pathway to automation in 7 steps. What is Accounts Payable Automation?

Automation 52

Automation Accounts Payment APIs and Integration Process 52

Nanonets

JULY 24, 2023

Automate finance reconciliation with Nanonets Nanonets, a leading platform powered by machine learning OCR technology, offers comprehensive solutions to streamline the finance reconciliation process. This automation eliminates manual efforts, saves time, and ensures the accuracy of the extracted data.

Reconciliation 52

Reconciliation Finance Duplicate Accounts 52

The Finance Weekly

APRIL 12, 2022

Ask yourself the following questions to put your new finance function to the test and optimize it: What is the quality of your closing process? What is the reporting process like? It's an excellent tool for processing and synthesizing small collections of data, but its limitations are unavoidable.

Finance 98

Finance Process Accounts On-Demand 98

Nanonets

FEBRUARY 14, 2024

We'll also discuss how to set up efficient GL coding processes in your team, and explore GL coding automation software. The result is a faster, more efficient close process that also saves up your time which can be better spent elsewhere. What are GL Codes?

Transactions 52

Transactions Audit Accounts Automation 52

The Finance Weekly

AUGUST 30, 2022

And then of course, there is the automation aspect. With FP&A software, companies can automate their data collections and create valuable dashboards and insights that will help them understand trends and make more accurate budgets, forecasts, and business decisions. This is in addition to supporting financial close processes.

Small Business 95

Small Business Finance Automation AI 95