Payment Savvy

MAY 12, 2023

Payment automation solutions have transformed the way businesses handle their accounts payable departments. With the increasing need for cost savings, efficient payment processing, and secure financial data management, payment automation has become an essential tool for modern businesses. What Are Payment Automation Solutions?

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Nanonets

FEBRUARY 1, 2024

In the rapidly evolving business landscape, the efficiency of Accounts Payable (AP) processes is no longer just a back-office concern but a strategic imperative. 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.

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PYMNTS

DECEMBER 18, 2020

The firms were especially interested in deploying automated and advanced learning technologies. percent were considering or currently spending on AP and AR automation. Such modernizations could help financial departments process invoices more quickly and easily.”. A Digital Stampede. Everything Look Fine?

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Nanonets

APRIL 3, 2024

Businesses are now embracing the virtual to streamline their financial management processes. Enter virtual bookkeeping – a paradigm-shifting approach that harnesses the power of digital tools and automation to revolutionize traditional bookkeeping practices.

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Automation Payment APIs and Integration Reconciliation Financial Analysis 96

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?

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

FICO

MARCH 14, 2023

This health plan was struggling with the limitations that their manual process imposed upon their ability to fulfill their role in providing their citizens with access to quality healthcare, and they felt isolated in their struggle. And we will offer a few examples of how FICO solves customer challenges in claims automation.

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Automation Rules Process Innovation 98

Nanonets

MARCH 4, 2024

Expense reimbursement is a fundamental aspect of business operations, encompassing the process by which employees are paid back for expenses they've incurred on behalf of the company. However, managing this process is fraught with challenges. Duplicate Claims Employees submitting the same expense for reimbursement more than once.

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Process Compliance Automation Audit 52

Nanonets

AUGUST 7, 2023

Join us as we dive headfirst into the captivating realm of AI image processing. What is AI Image Processing? At its core, AI image processing is the marriage of two cutting-edge fields: artificial intelligence (AI) and computer vision. How does AI Image Processing Work? 

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AI Process On-Demand Automation 90

Nanonets

JUNE 14, 2024

The procure-to-pay process encompasses all processes involved in the entire lifecycle of purchasing goods and services. From initial requisition to final payment, this process involves multiple stakeholders with complex workflows and necessitates significant financial checks and control over itself. What is Procure-to-Pay?

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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. So, what exactly is AP automation ? Looking for an AI based AP Automation solution? How Does AP Automation Work?

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Automation AI Accounts Reconciliation 52

PYMNTS

AUGUST 14, 2020

The COVID-19 pandemic and its resulting economic downturn have placed new strains on corporate buyers that could persuade them to more quickly replace manual AP processes with digital ones. Companies that relied on local AP processes were caught flat-footed by the public health need for employees to work remotely whenever possible.

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Nanonets

MAY 11, 2023

Invoice processing or bill processing is the whole gamut of operations associated with the business-end (pun unintended) of purchasing products/services from a vendor.  Let us see how invoices are processed and how automation helps streamline invoice management to help businesses run more efficiently.

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Nanonets

JUNE 27, 2023

Managing accounts payable processes efficiently is crucial for any organization, impacting cash flow, vendor relationships, and overall financial performance. One significant aspect of accounts payable is the processing of invoices. How much does it cost to process an invoice? How long does invoice processing take on average?

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Process Automation Electronic Funds Transfer (EFT) Volume 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. What if you could reduce these costs by 80% and increase the speed of processing invoices by up to 10 times? What is B2B payment automation?

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Automation B2B Payment APIs and Integration Payments 52

Nanonets

NOVEMBER 16, 2023

As businesses get more complex and grow in scale, the vendor payments process becomes more intricate, time-consuming, and important. Luckily for AP teams around the world, new tools and technologies have been developed to make it easier to efficiently manage the vendor payments process. 

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Nanonets

JANUARY 8, 2024

Bank Reconciliation is the process of matching the company's cash books to the bank statement. Today, reconciliation is primarily automated through reconciliation software to save time and money. If they are not equal, there is an error in the reconciliation process. How to do Bank Reconciliation?

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Fintech Finance

MAY 21, 2024

Deloitte and Basware have announced an alliance to enhance touchless invoice processing for global customers. The partnership will combine accounts payable (AP) expertise to accelerate automation and finance transformation. CFOs are constantly grappling with manual AP processes that slow down teams and impact bottom-line profits.

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Automation Duplicate Finance Best Practices 52

Fintech Finance

APRIL 22, 2024

Basware , a global leader in AP automation and invoice processing, has introduced AP Protect, an AI-powered solution that empowers finance teams to protect their organisations from the threat of profit loss, invoice errors and fraud.

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PYMNTS

DECEMBER 31, 2019

Such legacy payment methods are usually tied to paper-based invoices and manual tracking and reconciliation procedures, which impede payments from being processed in a timely manner. Manual processes can be particularly problematic for such businesses because these firms can generate thousands of payments every day.

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Nanonets

NOVEMBER 30, 2023

Companies that establish accounts payable best practices increase the visibility of information, reduce their invoice processing time, save money, strengthen internal controls and cash flow management, reduce fraud and errors, and improve vendor relationships.   Onboard vendors and automate status notifications through a vendor portal. 

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Best Practices Accounts Automation Electronic Funds Transfer (EFT) 52

Nanonets

NOVEMBER 14, 2023

Yet, this key process has traditionally been carried out manually through time and labor-intensive processes which can be heavily error-prone. With the advent of electronic invoicing (e-invoicing), this critical task can now be streamlined and automated by businesses. What is e-invoicing? Capture data from documents instantly.

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Automation Duplicate Process Accounts 52

Nanonets

JUNE 12, 2024

In this blog, we'll walk through what purchase order management is, why it is important, how to implement it effectively, how to automate it using technology. Purchase order management is the process of managing the creation, approval, tracking, and fulfilment of purchase orders in your business. What is Purchase Order Management?

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PYMNTS

MAY 7, 2020

There is a difference, he explained, between this analytical approach, and the operational approach that process mining technology can take. It’s not only diagnosing the problem, it’s recommending automated actions operational teams can take to fix the issue,” said Thomsen. Addressing End-To-End Friction.

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Nanonets

MARCH 22, 2023

Growing businesses have to maintain relationships with many suppliers and vendors, and this usually ends up making the Accounts Payable process complicated. Vendors with different invoicing standards/procedures tend to make accounts payable processes quite cumbersome. Hence they might want to consider AP Automation instead.

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PYMNTS

OCTOBER 31, 2016

While the financial terms were undisclosed, that deal seeks to expand the former firm’s reach into the automated accounts payable space. The challenge here, for firms of such size, is perhaps not surprisingly the greater volume of invoices and processing that needs to be addressed.

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Automation Duplicate Credit Cards B2B 69

Nanonets

JANUARY 29, 2024

  In this article, we guide you through the credit card reconciliation process in QuickBooks, addressing common issues and providing useful tips to streamline the procedure. Upon completing the reconciliation process, the cleared balance should match the statement ending balance, resulting in a difference of zero.

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Nanonets

APRIL 12, 2024

Sage Intacct makes the entire process simple. It creates professional invoices for your accounts receivables and helps process invoices as part of your accounts payables. This blog will discuss how you can manage invoices in Sage Intacct, empowering you to conquer invoice creation and processing and ensure a smooth financial workflow.

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Automation AI Accounts Reconciliation 52

Nanonets

MAY 7, 2024

Expense reconciliation is the process through which businesses track expenditures, identify anomalies, adhere to regulatory requirements, and maintain financial accuracy and integrity. This process is essential for maintaining financial accuracy, compliance with regulations, and preventing fraud or errors.

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Clearly Payments

AUGUST 6, 2024

This lower win rate can be attributed to AMEX’s stringent review process and its role as both the issuer and network. Reason Codes The most common chargeback reason codes for AMEX chargebacks include: Authorization Issues: Accounting for 23% of AMEX chargebacks, these occur when transactions are processed without proper authorization.

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PYMNTS

JULY 10, 2020

Money, therefore, remains tight, and SMBs need fast and precise insights into their finances and processes to help them make more informed spending decisions. These slow processes make it difficult for AP professionals to quickly pull up information on payment obligations, and they also present plenty of opportunities for human error.

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Nanonets

JANUARY 25, 2024

Credit card reconciliation is the process of matching credit card records with your company ledger. This is a routine process done by finance teams to ensure that company financial records are accurate and to detect any errors or fraud. Automate Credit Card Reconciliation Using tools like Excel requires lots of manual intervention.

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Nanonets

FEBRUARY 7, 2024

Small and medium-sized company users of Microsoft Business Central ERPs need to apply artificial intelligence for efficiencies, vendor invoice processing workflow automation, and decision-making related to accounts payable and business spending. 

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Automation Accounts Duplicate Process 52

Nanonets

JANUARY 28, 2024

  In this article, we walk through the reconciliation process in QuickBooks, address common issues, and provide useful tips. Repeat this process till all the transactions are matched. Reconciliation is a really helpful process to identify this and quickly report it to safeguard the company from losses.

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Nanonets

APRIL 12, 2023

Spend management has become increasingly important for businesses today as it enables them to control costs, improve procurement processes, and optimize profitability. However, managing expenses manually can be a time-consuming and error-prone process. What is spend management? Why is spend management important?

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Compliance Automation Duplicate Process 52

Nanonets

FEBRUARY 19, 2024

After meticulous adjustments, achieving that zero balance feels like a triumph, marking the completion of your reconciliation process in QuickBooks Online. Reconciliation in QuickBooks Online is an indispensable process for businesses aiming to maintain accurate and consistent financial records.

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Nanonets

APRIL 18, 2024

Invoice creation and Invoice processing are critical steps in these processes. NetSuite's robust invoice management system offers a powerful solution to automate and streamline the invoicing process, boosting efficiency and improving your bottom line. Invoices are an essential part of this.

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Automation AI Accounts Process 52

Nanonets

JUNE 21, 2023

Manual payment reconciliation processes can be time-consuming, error-prone, and inefficient. In the modern business landscape, organizations are increasingly turning to automated solutions to streamline payment reconciliation and improve operational efficiency. What is payment reconciliation?

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