This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Kani Payments , the disruptive global datareconciliation and reporting pioneer, today announces it is ready to support the ISO 20022 global messaging standard ahead of the November 2025 implementation date.
New technology solutions are stepping onto the market to help automate accounts receivable, accounts payable and the act of supplier payments, as well as other processes surrounding these fields, like trade finance, cash flow management and accounting. There’s nothing more valuable than remittancedata.
These include increased security, robust controls, and real-time remittancedata for more efficient reconciliation. The post Mastercard and the Medical Tourism Association Join Forces to Revolutionize Cross-Border Healthcare Payments appeared first on Fintech Finance.
This mitigates the need for manual data entry or interpretation of remittance advice, allowing for a more accurate and expedient reconciliation process. What is remittancedata? Remittancedata comes in many forms, such as checks, bank transfers, or electronic remittance formats.
Accounts payable and finance departments in the middle market want to invest in growth, in products, in service, in people — they don’t want to invest in suppliers or supplier-related processes,” he said, highlighting the supplier management and communication component of AP that is becoming increasingly important.
With government and private sector-led initiatives pushing for faster, digital payments across the globe, corporates and financial institutions are still missing a key element of enhanced transactions: data. ” He’s not the first to bring up the issue of corporates and banks struggling to transmit information along with funds.
It’s great to get a check, or wire, or ACH, but if you don’t know what it’s to be applied to, you have a huge cash application and reconciliation challenge.”. He did note, however, that he is “very optimistic” about the emergence of new payment services able to move remittancedata along with funds.
Remittance advice is critical in financial management for any AR team. Its importance is grounded in several crucial functions: it ensures that payments are accounted for correctly, simplifies the reconciliation process, and helps maintain a precise and updated receivable balance in the company’s ledger.
In B2B payments, accounts payable automation is a hot topic, as are the challenges AP professionals face when it comes to paying suppliers and managing the data from those transactions. But a new report from Corcentric , written by the Institute of Finance & Management (IOFM), details the hurdles on the other side of the payment.
“A lot of suppliers say they like the feel of the paper in their hand, they like to get the physical remittancedata attached to that check — even though you can still get that data in other ways, including with ACH,” Martin explained. “But a lot of suppliers are what we consider old school.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content