PYMNTS

APRIL 10, 2020

Financial technology innovation has opened the doors to massive transformation of corporate finance departments. 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have rarely focused on a mainstay of corporate finance teams: the financial close process, a crucial, but continually outdated function.

Close Processes 87

Close Processes Finance Automation Process 87

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

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

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

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

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

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

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

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

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

PYMNTS

SEPTEMBER 21, 2017

Gappify is the latest company to roll out business accounting-related chatbot technology. 20) that it has launched Alan, chatbot technology designed to assist business accountants. Using robotics process automation technology, Alan automates tasks to help corporate accountants focus on more strategic and value-add processes.

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

JANUARY 22, 2024

A survey completed by the technology review platform Capterra reveals that 72% of businesses plan to spend more on software in 2024 than in 2023. Companies that automate their financial statement preparation processes often benefit from improved accuracy, near real-time data, and increased efficiency.

Automation 52

Automation Reconciliation Audit Accounts 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

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

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. In an era where efficiency and accuracy are paramount, harnessing technology to manage your General Ledger can be a game-changer.

Automation 52

Automation Payment APIs and Integration Accounts Transactions 52

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

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

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

MAY 6, 2024

Finally, the manual nature of these processes contributes to difficulties in retaining financial and accounting talent and attracting new employees, exacerbating staffing concerns within organizations.    BlackLine is a cloud-based financial automation platform designed to streamline and modernize accounting and finance processes.

Reconciliation 52

Reconciliation Accounts Audit Automation 52

Nanonets

JUNE 24, 2024

Credit card reconciliation is essential as it helps businesses prevent fraud, maintain financial integrity, optimize spending, and keep the company's books audit-friendly during the financial close process , typically occurring at the end of each month. How to do Credit Card Reconciliation?

Reconciliation 52

Reconciliation Credit Cards Correspondent Automation 52

Nanonets

MARCH 12, 2024

The Process of Record-to-Report Let's delve into the Record-to-Report (R2R) process and journey through its sequential steps, exploring it's pragmatic application in business context. Closing: The closing process is manual, with a checklist to ensure all financial activities for the period have been recorded and reconciled.

Process 52

Process Finance Reconciliation Compliance 52

FloQast

MARCH 22, 2024

Outdated manual month-end close processes are a pain point for companies of every size – taking up as much as 40% of finance departments’ monthly working time and attention – an effort that could be better spent adding value to the business in other ways.

Close Processes 52

Close Processes Compliance Audit Automation 52

Nanonets

FEBRUARY 8, 2024

The practice of ERP integrations is growing; by connecting your ERP to other business systems within your organization, you can boost your analytical capabilities, optimize cross-functional processes, and even automate some of the more time-consuming tasks that your employees do regularly. What is ERP Integration?

Payment APIs and Integration 52

Payment APIs and Integration Automation CRM API 52

The Finance Weekly

OCTOBER 13, 2021

Organizations may , eliminate many of the manual processes that stymie a company's ability to accomplish a speedy financial closure by employing AI and machine learning to automate financial close processes including account reconciliation and reporting. Think through the “extended” process.

Risk Management 52

Risk Management Automation Risk Close Processes 52

Nanonets

JULY 21, 2023

This process involves comparing general ledger accounts with supporting documents using reconciliation software to identify discrepancies and take corrective measures. The advent of automated reconciliation software has revolutionized this process, serving as a transformative solution. What is reconciliation software?

Reconciliation 52

Reconciliation Payment APIs and Integration Automation Audit 52

PYMNTS

JANUARY 26, 2018

The data from these periodic closings can be instrumental in providing organizations with key benchmarking information about their financial standings, and yet businesses still struggle to gain the insight they need. Managing the month-end close is a process of continual improvement,” he said.

Close Processes 47

Close Processes Innovation FinTech Reconciliation 47

PYMNTS

DECEMBER 3, 2020

As a B2B Software-as-as-Service (SaaS) organization, 6Sense is a digital-first company with an emphasis on Big Data and automation capabilities. A climate in which AP and AR needs often butt heads — even with adoption of AP and AR technology — is an example of the limitations of FinTech platforms and digitization efforts.

B2B 72

B2B Checks Mitigation Process 72

The Finance Weekly

JUNE 17, 2024

Financial planning and analysis (FP&A) is important in automating all of the manual tasks in the finance department and giving everyone greater insights into the data. It enhances automation, eliminates errors, and improves decision-making through sub-features like Predict: Signals and Predict: Projections.

AI 52

AI Addressing Automation Finance 52

FloQast

DECEMBER 13, 2023

Because managing its month-end financial Close using Excel was proving increasingly challenging, the company searched for accounting workflow automation software that could meet its financial reporting and workflow automation needs. In 2019, the American technology firm settled on FloQast. “I

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52