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Payment Reconciliation Process Reconciliation 
Nanonets
APRIL 24, 2024
Introduction Accuracy and efficiency are non-negotiable in the processing of payments in any company, be they payments received by the company for products/services rendered, or made to vendors for products/services received. Payment reconciliation is the process of verifying all payment transactions.
Paystand
SEPTEMBER 19, 2024
Table of Contents What is payment reconciliation? How does payment reconciliation work? Why is payment reconciliation important? What are the three types of payment reconciliation? How can automation improve payment reconciliation?
Nanonets
JUNE 21, 2023
Efficient reconciliation of payments is a vital aspect of financial management for businesses of all sizes. As transactions flow in and out, reconciling payments becomes crucial to ensure accuracy, identify discrepancies, and maintain a clear financial picture. What is payment reconciliation?
The Fintech Times
SEPTEMBER 18, 2024
AutoRek , the Glasgow-based reconciliation and financial data management platform, has partnered with Capgemini , the consulting and digital transformation firm, to ensure it remains ahead of reporting requirements for clients as well as complying with regulatory changes. They are efficiently optimising their working capital with confidence.
Nanonets
MAY 8, 2023
Reconciliation is a mandatory process for businesses of all sizes. Reconciliation helps businesses gain insight into business spending and their categories in real-time. Account reconciliation takes a lot of time and effort. Also, the manual reconciliation method is error-prone. How do reconciliation manually?
PYMNTS
JULY 12, 2019
Order-to-cash solutions provider Billtrust has added Priority Commercial Payments to its Business Payments Network (BPN) to streamline B2B payments reconciliation, the companies said in a press release this week.
Agile Payments
DECEMBER 10, 2020
Disrupting the ACH and Credit Card settlement and funding process via a Funding Report.
Payments Source
APRIL 8, 2020
For decades, automated check reconciliation stood out as the lone sanctuary for AR professionals. However, the advent of payment automation indicates that electronic payment reconciliation is more than capable of taking up the baton, says Nvoicepay's Kim Lockett.
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Nanonets
JUNE 17, 2023
Account reconciliation is a critical process in accounting, which ensures that financial records are accurate and consistent. This article will provide an in-depth understanding of account reconciliation, its benefits, and how businesses can leverage technology to automate the process. What is Account Reconciliation?
Fintech Finance
FEBRUARY 22, 2024
New research commissioned by AutoRek , a leading software provider to companies in the global financial services sector, has revealed the most current problems facing payments firms today, as well as their perceptions on regulation, compliance, and payments reconciliation.
The Fintech Times
AUGUST 24, 2024
For a long time, the retail and hospitality sectors have faced the ‘last mile’ data problem in cash credit card payment reconciliation. Some merchants struggled with balancing cash and credit card payments against their point-of-sale platform.
Inai
DECEMBER 15, 2023
Every business, big or small, performs regular reconciliation of their financial records for accurate accounting. However, businesses must ensure their reconciliation processes are efficient to achieve the best results, minimize accounting errors, and plug any revenue leaks. And this blog is there to help.
Nanonets
MAY 7, 2023
Do you know what credit card reconciliation is? Many people need to learn what credit card reconciliation is and why it's essential. After the pandemic, business credit card payments showed a strong positive trend, with a market evaluation of $14.1 While it sounds simple, many intricacies are involved in the process.
Fintech Finance
SEPTEMBER 18, 2024
Through this agreement, Capgemini will mobilize its team of experts on AutoRek’s reconciliation solution and guide AutoRek’s clients with day-to-day support of implementations. A report by Capgemini indicates half of payment executives handle their cash reconciliation process manually.
Fintech Finance
SEPTEMBER 18, 2024
Born out of a need to solve the cash flow problem many businesses experienced during COVID-19, Slope provides short-term financing and simple payment options for the B2B sector. Recognizing the need for robust, reliable payment infrastructure, Slope selected Checkout.com as its strategic partner.
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Fintech Finance
JUNE 7, 2024
VoPay , a leading provider of embedded financial technology solutions, in partnership with Avesdo , is set to modernize the pre-sale property market by introducing a fully embedded digital payment solution within Avesdo’s Transaction Management System (TMS).
Nanonets
AUGUST 16, 2024
The drive to enhance claims processing through new technologies has intensified, especially since every dollar saved directly impacts profitability. What is claims process automation? Claims process automation uses advanced technology to streamline insurance claim management.
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Core
APRIL 10, 2024
For more than 30 years, CORE has prioritized the government agency experience for payment processing and the citizen experience. As part of that mission, CORE seeks out partnerships that help ease the government agency purchasing process. This trusted process satisfies bid requirements.
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Fintech Finance
FEBRUARY 21, 2024
Kani Payments , the disruptive global data reconciliation and reporting platform, today announces a strategic partnership with issuer processing and core banking platform Pismo. Aaron Holmes, Founder and CEO of Kani Payments, comments: “Kani Payments is unique because it is a truly scalable SaaS fintech company.
EBizCharge
JUNE 6, 2024
One ERP that stands out is Microsoft Dynamics 365, a powerhouse for managing business operations, including the pivotal task of credit card processing. Each is designed to facilitate seamless business processes and enhance overall efficiency. What is Microsoft Dynamics 365? What is Microsoft Dynamics F&O?
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Nanonets
NOVEMBER 20, 2023
An invoice approval workflow is a structured process that organizations follow to review, verify, and authorize supplier invoices before making payments. 3-Way Matching: Alignment of the invoice with the corresponding purchase order and receiving report in a 3-way matching process. What is an Invoice Approval Workflow?
Fintech Finance
SEPTEMBER 25, 2024
APRON , the business payments powerhouse, has raised a $30 million Series B funding round to help more small business owners make it by digitising and simplifying the payments process, and bring greater security to these companies’ cash flow.
Nanonets
OCTOBER 18, 2024
In the new era of Accounts Payable— every invoice processed should be a step towards long-term success. These tools go beyond simple digitization, offering comprehensive platforms that automate invoice processing , streamline approvals, and optimize payment workflows.
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Nanonets
MARCH 29, 2023
It is a liability on the company's balance sheet, representing the company's obligation to make payments to its creditors. The accounts payable process typically begins when a company receives an invoice from a vendor or supplier for goods or services that have been delivered.
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Nanonets
APRIL 6, 2023
In today's globalized economy, supply chains are becoming increasingly complex, with numerous stakeholders, processes, and data points involved. From procurement and production to logistics and delivery, automation can improve the speed, accuracy, and efficiency of these processes, while reducing costs and errors.
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Fintech News
JANUARY 30, 2024
Decentralised finance , which utilises blockchain technology, employs open-source technology to reduce costly payment processing fees by minimising the need for intermediaries. The Role of AI in Payment Services The introduction of artificial intelligence (AI) in the payments sector has brought a plethora of benefits.
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PYMNTS
FEBRUARY 11, 2020
The feature enables businesses to send multiple payment requests at the same time while also triggering automated reminders to streamline the process and save time. We’ve digitized the manual reconciliation process and eliminated the need for expensive, paper-based [checks].
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PYMNTS
JUNE 10, 2020
The new partnership will combine “global open banking initiatives, Samsung SDS’ Nexledger Universal platform and Credorax’s industry expertise” in order to provide automatic payment reconciliation, remittances and invoices for B2B payments.
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Nanonets
APRIL 10, 2023
This process is tiresome, error-prone, and time-consuming. As a finance professional, you want to use invoice data to process payments, match invoices with purchase orders or create financial reports. Secondly, converting PDF invoices to spreadsheets can help you automate a major part of the invoice data entry process.
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Nanonets
SEPTEMBER 29, 2023
But bottom-performing organizations take a week or more, and this metric—the cycle time between receiving invoices and making payments—is reflective of how efficient a company’s Accounts Payable (AP) process is. Streamlining vendor payments is thus an important part of any business’ financial operations.
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Nanonets
APRIL 18, 2023
Automated Clearing House (ACH) payments have become increasingly popular among growing businesses, for their faster processing times, lower fees, and reduced risk of fraud. However, managing ACH payments can be a challenging task for AP teams, especially when dealing with multiple vendors and payment preferences.
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PYMNTS
JULY 8, 2020
Steve Robert , co-founder and CEO of Autobooks, said it would now be easy for SMBs to “enroll and receive online payments in minutes, saving hours each month through our automated payment reconciliation and accounting functionality,” according to the release.
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Nanonets
MAY 8, 2024
Introduction to Stripe Reconciliation Every digital purchase is a complex interplay of entities—Customers, Merchants, Acquirers, and Issuing Banks—that orchestrate the flow of funds. Stripe is a PSP that offers a suite of services to streamline payment processing and enhance the online shopping experience.
PYMNTS
MARCH 31, 2020
To make the complete payables process smarter, global payables automation company Tipalti unveiled its Tipalti Pi integrated payables intelligence engine, according to a press release. The solution identifies fraud and risk, bolsters decision making, automates manual work and eliminates accounts payable (AP) process errors.
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Core
JUNE 29, 2023
Automation has emerged as a revolutionary approach to empower governments to reduce delays, speed up operations, and improve how processes are executed. A cutting-edge, automated platform can powerfully accelerate the time to value for citizens for a streamlined payment experience when accessing government services.
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The Paypers
JANUARY 8, 2019
(The Paypers) SafeCharge has announced an extension of its partnership with Gett to streamline payment reconciliation processes across all its payment partners globally.
Fintech Finance
JANUARY 25, 2024
Today, Mastercard announced it is strengthening its ongoing partnership with Booking.com , the world’s leading digital travel platform, to streamline B2B payment processes in the travel and tourism industry. Virtual card technology has 30x lower fraud risk compared to traditional payment cards.
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Stax
JULY 9, 2024
Digital payments feature a multitude of benefits including: Digital payments streamline transactions by eliminating the need for physical handling of cash or checks. Transactions can be initiated and completed in seconds, reducing the time spent on payment processing.
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PYMNTS
MARCH 2, 2020
It strives to advance ticket sales while offering a seamless check-in process. It reduces manual processes while increasing payment reconciliation timelines. . Groupon, founded in 2008 in Chicago, is a digital marketplace where people can get discounts on things to do, see, eat and buy.
PYMNTS
AUGUST 2, 2017
In a press release, the companies announced they have expanded a online payment solution to include automated reconciliation. According to the companies, the integration gives Xero’s more than 1 million subscribers greater choice of payment services, more cash flow control and enhanced efficiency through automation.
Nanonets
SEPTEMBER 22, 2023
Managing your vendor invoices effectively is crucial for efficient payment processing and budget management. To ensure smooth processing, it is essential to understand the key details that should be looked for on an invoice. Benefits of Invoice Management Software: 1.
PYMNTS
DECEMBER 15, 2020
On one hand, this can present an advantage to the market: Businesses are not weighed down by the legacy of years-old technologies and processes that create inefficiencies in other industry. And while Gordon noted that he's seeing more paper checks being used to settle B2B transactions, the payment method is far from ideal.
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Nanonets
NOVEMBER 14, 2023
Accounts Payable (AP) processes are an important function for every business, overseeing the outgoing payments to suppliers and vendors. Traditionally tackled through manual processes, digital transformation is now at the forefront of AP, with technologies like AI and ML revolutionizing how businesses manage their finances.
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PYMNTS
MARCH 27, 2019
“By streamlining supplier onboarding, tax compliance, invoice processing, global payments and payment reconciliation, Tipalti helps modern finance organizations strategically scale more rapidly and efficiently.”
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