article thumbnail

Digital Wallets and Open Banking Set to Dominate Payments in 2025, According to Merchants

Fintech Finance

Fraud prevention and regulatory compliance are the major challenges facing the industry When asked about the top challenges expected for the year ahead, fraud prevention topped the list, with 63% of respondents identifying it as a primary concern.

article thumbnail

The Role of Generative AI in the Banking Industry: A Call for Cautious Exploration

Fi911

Navigating the Path Ahead with Caution Banks bear significant overhead costs managing infrastructure, regulatory compliance, and customer service. Thus, while the excitement surrounding Gen AI is palpable, it is tinged with caution. Gen AI is indeed promising, but its relative novelty necessitates a prudent approach.

AI 95
article thumbnail

Procurement Professionals Unhappy With Tech Options

PYMNTS

The procurement department requires a strong technology foundation in order to control costs, manage supplier relations and generally execute the function effectively,” said Paul Mandell, cofounder and CEO of Consero, in a recent interview with SCMR. “To

article thumbnail

Top 15 Apps & Integrations on Xero App Marketplace

Nanonets

  ApprovalMax Payment Approval in Seconds By synchronizing approval processes, purchase orders, and invoices between ApprovalMax and Xero, you can establish approval workflow automation , enforce compliance, and prevent unauthorized spending.

Payroll 52
article thumbnail

P&L Management Guide for 2024: How to Gain Better Financial Management

EBizCharge

This could mean adjusting pricing strategies, cutting unnecessary costs, or boosting investment in profitable areas. Regular P&L reviews are crucial for maintaining a sustainable balance between revenue growth and cost management. Profit and loss management also informs strategic planning.

article thumbnail

Top 10 OCR for Invoices in 2024

Nanonets

OCR helps automate invoice processing, enabling businesses to track costs, manage budgets, and improve profitability. Utilities : Utility companies receive invoices for energy, water, waste management, and maintenance services.

article thumbnail

Unlock Success: Master the Best Accounting Practices Today

Nanonets

Management Accounting: Management accounting , also known as managerial accounting, focuses on providing internal stakeholders, such as managers and executives, with information for decision-making and performance evaluation. It involves the analysis of financial data, cost management,  budgeting , and forecasting.