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.

Process 52

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? 

AI 90

AI Process On-Demand Automation 90

EBizCharge

MAY 20, 2024

NetSuite is a comprehensive cloud-based Enterprise Resource Planning (ERP) platform designed to aid businesses in managing key operational processes. These tools allow merchants to streamline accounts receivable (AR) processes, making payment collections a breeze. What kinds of tools and features does NetSuite offer?

Process 52

Process PCI DSS Processors Payment APIs and Integration 52

Finovate

MAY 20, 2024

90% reduction in data duplication 78% decrease in time needed to research records 5 hours per week saved by eliminating manual processes Time-to-response decreased from 1 to 2 days to less than 1 hour 35% increase in customer retention rates Join LeanData at FinovateSpring next week and see it in action.

Duplicate 117

Duplicate Facilitators Research Process 117

Nanonets

JULY 14, 2023

We will also touch upon what is wrong with the current state of invoice recognition OCR and information extraction in invoice processing. For a long time, we have relied on paper invoices to process payments and maintain accounts. But can this process be done better, more efficiently, with less wastage of paper, human labor and time?

Automation 98

Automation Process Payment APIs and Integration Database 98

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.

Process 106

Process Duplicate Automation AI 106

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.

Process 52

Process Automation Audit Checks 52

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?

P2P 52

P2P Process Automation Checks 52

Chargebee

MAY 23, 2024

An unplanned migration process can lead to data duplication, inaccurate revenue reporting, and business downtime – all affecting the incredible subscriber experience you want to deliver to your customers. You’ll reach the finish line only when you nail the implementation, migration, and onboarding.

Best Practices 76

Best Practices Duplicate Process 76

Nanonets

DECEMBER 6, 2023

However, the advent of HR process automation has revolutionized the way HR professionals operate. By harnessing the power of technology and intelligent software, HR process automation streamlines workflows, reduces errors, enhances data accuracy, and ultimately improves the overall employee experience. What is HR Automation?

Automation 52

Automation Process Payroll Compliance 52

Nanonets

AUGUST 10, 2023

Streamlining your expense claim process isn't just great for business efficiency and accuracy — it's a game changer for your bottom line. According to this Global Business Travel Association report , processing an expense report for a single-night hotel stay costs an average of $58 and takes 20 minutes!

Automation 52

Automation Process Compliance Audit 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. 

Process 52

Process Technology Wire Transfer Payments 52

Nanonets

DECEMBER 11, 2023

Your accounts payable team – whose main function is to ensure funds are disbursed properly to vendors, business partners, and sometimes customers – processes an exorbitant number of invoices every single week. When done manually, processing an invoice can take days.   Top 10 Invoice Processing Solutions in 2024 1.

Process 52

Process Payment APIs and Integration Automation Multi-Currency 52

Nanonets

MARCH 20, 2023

What is the accounts payable process? The accounts payable process of a company is the management of its short-term payment obligations to vendors/suppliers. Accounts payable processing ensures timely payments to suppliers and vendors. Businesses might even occasionally opt for accounts payable outsourcing.

Process 52

Process Accounts Automation Checks 52

Nanonets

JANUARY 8, 2024

Bank Reconciliation is the process of matching the company's cash books to the bank statement. However, let's understand the manual bank reconciliation process once: Step 1: Gather documents On the bank side, you need the bank statements, outstanding checks, deposits, and any pending transactions.

Reconciliation 52

Reconciliation Process Adjustments Checks 52

FloQast

NOVEMBER 28, 2023

Since joining the company, Ashley has been instrumental in enhancing processes and formalizing the accounting function, contributing to Lovevery’s ability to scale efficiently. Constant upgrades, changes, and additional automation can be built into your systems and processes. Check out the full e-book here.

Audit 53

Audit Process Technology Reconciliation 53

Chargebee

MAY 24, 2024

An unplanned migration process can lead to data duplication, inaccurate revenue reporting, and business downtime – all affecting the incredible subscriber experience you want to deliver to your customers. You’ll reach the finish line only when you nail the implementation, migration, and onboarding.

Best Practices 52

Best Practices Duplicate Process 52

Fi911

JULY 19, 2024

List of Visa Chargeback Reason Codes: By Category Visa chargeback reason codes are divided into four main categories: Fraud, Authorization, Processing Errors, and Consumer Disputes. Visa Fraud Monitoring Program Authorization These reason codes are related to issues with the authorization process. Duplicate Processing 12.6.2:

Disputes 88

Disputes Duplicate Non-Bank Authorization 88

Nanonets

JUNE 18, 2024

Did you know that processing an expense report for an overnight hotel stay can take up to 20 minutes and cost an average of $58 ? Learn to craft an effective expense policy & process to guide employee spending. Read about how to create expense reports in Excel and how to automate the expense reporting process.

Automation 52

Automation Process IRS Compliance 52

Fintech Finance

NOVEMBER 19, 2024

From unauthorised transactions to duplicate charges or service issues, cardholder disputes can swiftly become time- and cost-intensive for back-office teams, especially during peak periods like Black Friday and Cyber Monday, when transaction volumes spike.

Disputes 67

Disputes Consumer Protection Duplicate Transactions 67

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?

Process 52

Process Automation Electronic Funds Transfer (EFT) Volume 52

Nanonets

JUNE 19, 2023

However, the advent of HR process automation has revolutionized the way HR professionals operate. By harnessing the power of technology and intelligent software, HR process automation streamlines workflows, reduces errors, enhances data accuracy, and ultimately improves the overall employee experience. What is HR Automation?

Automation 52

Automation Process Compliance Payroll 52

VISTA InfoSec

MARCH 28, 2024

To achieve this, regularly review your data collection forms and processes to identify and eliminate any unnecessary data fields. Regular data cleaning processes should also be in place to identify and correct inaccuracies or remove duplicate records.

Data Breach 278

Data Breach Regulatory Compliance Breach Encryption 278

The Paypers

MARCH 29, 2024

Lithuania-based regtech company iDenfy has announced that it entered a collaboration with FTMO , aiming to simplify the latter’s onboarding process and prevent duplicate accounts.

Duplicate 41

Duplicate Accounts Process 41

PYMNTS

DECEMBER 18, 2020

Such modernizations could help financial departments process invoices more quickly and easily.”. According to the new Digital Shift Report , “many businesses may think their AP processes — although not perfect — are working fine. Additionally, duplicate payments are just as serious and will impact the buyer’s cash flow.

Automation 64

Automation Process AI Payments 64

PYMNTS

MAY 7, 2020

There is a difference, he explained, between this analytical approach, and the operational approach that process mining technology can take. Celonis recently rolled out a process mining operational application designed for the accounts payable department with a focus on enabling businesses to optimize their payment processes.

Process 56

Process B2B Payments Accounts 56

PYMNTS

JANUARY 19, 2018

Wells Fargo has fixed a glitch that caused online bill payments to be processed twice, infuriating customers who had their accounts inadvertently overdrawn. “On On January 17, an internal processing error caused temporary double posting of some items, impacting some customers.

Duplicate 40

Duplicate Enrollments Debit Card Payments 40

PYMNTS

OCTOBER 25, 2019

24), a payment processing tool for small businesses to support faster invoice payments and accelerate accounts receivable. Kabbage said the solution negates the need for a small business owner to generate individual accounts, open new payment orders or duplicate documents for recurring invoices sent out to customers.

Process 40

Process Small Business Duplicate Payments 40

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.

Reconciliation 52

Reconciliation Duplicate Adjustments Transactions 52

FloQast

JUNE 12, 2024

Curis , a biopharmaceutical innovator based in Lexington, Massachusetts, faced challenges with their traditional, paper-heavy month-end Close process and compliance program. While control ownership and execution functioned well, the Provided By Client (PBC) process was time-consuming, and external audit fees were high.

Compliance 104

Compliance Close Processes Audit Automation 104

Fi911

MAY 22, 2024

A payment reversal is the process through which funds from a transaction are returned to the payer’s account. This process can be triggered for various reasons, such as a disputed charge, an error in the transaction, or fraud detection. What is a Payment Reversal? In the next sections, we’ll outline how each of these work.

Payer 89

Payer Address Verification System (AVS) Disputes Payee 89

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.

Process 61

Process Innovation Same Day ACH B2B 61

Nanonets

MARCH 15, 2024

The need for AI in Accounting In traditional accounting operations, companies often rely on manual processes, extensive paperwork, and repetitive tasks to handle their payables function. However, these processes involve spending time (and money). And yet adoption of this technology is still not widespread. Where do you start?

Automation 59

Automation AI Accounts Duplicate 59

Payments Source

MARCH 3, 2020

Duplicates can take many different forms and can be difficult to find in a manual review process, says AppZen's Josephine McCann.

Duplicate 74

Duplicate B2B AI Process 74

Nanonets

NOVEMBER 12, 2024

Record Already Exists Description: This error means NetSuite thinks there’s already a similar record in the system, which it sees as a potential duplicate. Workflows Where This Can Occur: Sales Transactions: When importing many sales orders , each transaction needs a unique identifier to avoid duplicates.

Error Resolution 52

Error Resolution Multi-Currency Duplicate Checks 52

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.

Disputes 83

Disputes Visa Issuers Duplicate 83

VISTA InfoSec

OCTOBER 20, 2023

Emergency Mode Operation Plan (Mandatory) : Formulate (and apply as necessary) strategies to ensure the continuation of vital business processes for the protection of the security of electronic protected health information during emergency operations. Detail the Assets: Catalog each asset in the inventory with its specific details.

Disaster Recovery 130

Disaster Recovery Regulatory Compliance Procedures Duplicate 130