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Payment reconciliation: What is it, and how can your business do it efficiently?

Nanonets

As transactions flow in and out, reconciling payments becomes crucial to ensure accuracy, identify discrepancies, and maintain a clear financial picture. Manual payment reconciliation processes can be time-consuming, error-prone, and inefficient. What is payment reconciliation?

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Checkout.com Announces Partnership With Slope to Enhance Payment Performance for US Enterprise Merchants

Fintech Finance

Slope shares our vision for empowering enterprise businesses to thrive in the digital economy with tailored, enterprise-focused payment solutions that drive improved performance.” The post Checkout.com Announces Partnership With Slope to Enhance Payment Performance for US Enterprise Merchants appeared first on FF News | Fintech Finance.

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Airwallex, Xero Collab On X-Border SMB Payments, Reconciliation

PYMNTS

The collaboration is aimed at assisting Airwallex’s small- to medium-sized business (SMB) customers to easily handle local and global payments. Australian cross-border FinTech unicorn Airwallex is integrating with New Zealand’s cloud-based accounting platform Xero , Airwallex announced Tuesday (March 10).

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OCR for Accounts Payable

Nanonets

Payment Processing : Once payment has been authorized, the accounts payable department processes the payment. This typically involves printing a check or initiating an electronic payment. For example, Nanonets can analyze payment data and identify invoices that have not been paid or that have been overpaid.

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Tipalti Bolsters Accounts Payable Platform With AI-Powered Pi

PYMNTS

“This intelligence helps improve future routing accuracy, streamlines payment reconciliation processes, and maintains data hygiene in the ERP,” the release stated. In addition, the technology is made to identify duplicate invoices and facilitate purchase order (PO) matching as well as discrepancy detection.

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How to make vendor payments using ACH

Nanonets

Integration capabilities: Your ACH payments should ultimately link back to your invoices , and should be visible to your larger team for approvals and supporting documentation. Your payments data should also link to your vendor management platform. Try it today and experience the benefits of automated payment processing.

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5 Top Payment Trends Impacting Asia in 2024

Fintech News

One of the key functions of AI in this domain is its ability to match incoming payments with outstanding invoices, thereby automating payment reconciliation and significantly reducing manual efforts. AI also plays a crucial role in identifying potential payment delays, such as disputes, and facilitates proactive resolution.