Nanonets

APRIL 4, 2023

Firstly, MySQL is a powerful open-source database management system that provides a scalable and reliable solution for storing and managing large volumes of data. By importing Excel data into MySQL, businesses can centralize and access it more efficiently, reducing the risk of data duplication and errors. Try Nanonets for free.

Database 52

Database Automation Process Use Case 52

Nanonets

MARCH 14, 2024

For this, all details of the purchase as mentioned in the invoice are matched with the corresponding purchase order to ensure that the product/services that were ordered were delivered correctly and at the price agreed upon. Invoices and POs can also be imported into Nanonets from your mail, apps and databases.

Payment APIs and Integration 52

Payment APIs and Integration Automation Correspondent Checks 52

Nanonets

APRIL 15, 2024

Detects errors, omissions, and irregularities : By comparing each transaction in the bank statement with the corresponding entry in the company's records, bank reconciliation can catch discrepancies, errors, and omissions that may have occurred during the recording or transmission of financial data.

Reconciliation 52

Reconciliation Adjustments Correspondent Checks 52

Nanonets

SEPTEMBER 21, 2023

Digital invoices can be securely stored in electronic databases, eliminating the risk of physical damage or loss. Invoices serve as vital evidence of the goods or services received and the corresponding payment obligations. Furthermore, invoices help businesses avoid duplicate payments or pay inaccurate amounts.

Audit 40

Audit Legal Accounts Transactions 40

Nanonets

JUNE 24, 2024

But this also implies that when a high volume of transactions needs to be reconciled, chances of missing human errors, duplicate submissions, and inaccurate information may prove to be a problem. Problems such as double entry and rounding errors might arise when reconciling credit cards.

Reconciliation 52

Reconciliation Credit Cards Correspondent Automation 52

Nanonets

JULY 14, 2023

Information Extraction - once the Process of OCR is complete it’s important to identify which piece of text corresponds to which extracted field. Data dump - once the information has been extracted it needs to be stored in a retrievable format like A database An excel sheet An ERP system. Why digitize invoices?

Automation 98

Automation Process Payment APIs and Integration Database 98

Nanonets

MAY 10, 2023

By 3 way matching supporting documents, companies can detect duplicate, erroneous, or fraudulent payments to vendors. A 3 way match is an internal control process that cross-references a supplier's invoice against its corresponding purchase order (PO) and good received note (GRN). This is vital for managing spend and cash outflow.

Accounts 52

Accounts Automation Duplicate Process 52