Nanonets

APRIL 16, 2023

Looking for an AI based AP Automation solution? Give Nanonets ™ a spin for higher accuracy, greater flexibility, post-processing, and a broad set of integrations with other Accounting, ERP systems & more! Looking for an AI based Business Process Automation solution? So, what exactly is AP automation ?

Automation

Nanonets

JANUARY 23, 2024

Imagine invoice processing costs dropping from  $40  to  $1.42  each. Many more such workflow automation are possible when you combine QuickBooks Online, Zapier, and AI-powered OCR tools like Nanonets. Automation in accounting? A game-changer! Create an invoice from a form submission on your site?

Automation

Nanonets

JUNE 19, 2024

Compliance and Audit Trail : Small businesses are often subject to audits and regulatory requirements. This transparency can be crucial during audits, providing clear evidence of financial transactions. ERP Integration: It seamlessly integrates with ERP systems, ensuring fully automated accounts payable processes.

Small Business

Nanonets

NOVEMBER 15, 2023

Let's say you process 10,000 invoices monthly at $10 each. Now consider this: roughly a third of businesses surveyed were able to reduce invoice processing costs even more: a whopping 50%. How AI and OCR digitizes AP documents accurately But that's not all. That's roughly $300,000 saved annually.

Accounts

Nanonets

AUGUST 1, 2023

The recent advancements in AI and ML have made invoice imaging software much more robust, enabling AP teams to automate some of the most tedious aspects of the accounts payable processes. Now there are two types of invoice processing tools out there: Rule-based and AI-based. Route invoices to the right approvals.

Automation

Nanonets

FEBRUARY 1, 2024

Lost Productivity: The average invoice processing time in a manual environment can reach as high as 45 days. Looking to integrate AI into your AP function? Schedule a Demo Now let's see how AP Automation streamlines the accounts payable process and solves these problems. Looking to add AI to your Accounting process?

Automation

Nanonets

MARCH 20, 2023

  The use of accounts payable software results in a 73% faster processing time. According to Goldman Sachs , the use of accounts payable automation software also results in 33% reduction in processing costs. This is crucial for subsequent automated coding, matching, and approval processes.

Accounts

Nanonets

FEBRUARY 26, 2024

Automate manual data entry using Nanonet's AI-based OCR software. This significantly accelerates the accounts payable process, reduces errors, and enhances the accuracy of financial data. Nanonets uses advanced OCR, machine learning image processing, and Deep Learning to extract relevant information from unstructured data.

Accounts

Nanonets

MARCH 14, 2024

Compliance: It ensures compliance with internal procurement policies and external regulations, minimizing financial risks and audit issues. Cost Savings: By avoiding overpayments and resolving discrepancies efficiently, companies can save significant costs in the long run. How to automate 2-way matching?

Payment APIs and Integration

Nanonets

AUGUST 21, 2023

Cost savings A recent report revealed that almost 92% of businesses use checks for payments. With the median processing cost between $2.01 and $4 , processing each check manually can be very expensive for companies.  Here are some compelling reasons to consider implementing B2B payment automation: 1.

B2B

Nanonets

APRIL 17, 2023

One of the most significant advantages is the reduction of processing costs by minimizing the need for manual effort. As businesses grow, this automation can also aid in scaling AP processes without requiring additional hires. Looking to automate your manual AP Processes?

Automation

Nanonets

FEBRUARY 26, 2024

However, automated AP processing costs are just 33% of manual costs, resulting in significant annual savings of $62 billion for  AP departments. Benefits: Invoices don't get mismanaged and start getting processed as soon as they arrive. What is Accounts Payable Automation? into a single repository.

Automation

Nanonets

OCTOBER 1, 2024

The invoice is then filed for future reference or audits, completing the validation process. ➡️ Now, on paper, this process seems straightforward. In the process, they overlook a discrepancy in the received quantity. This leads to an overpayment, which is only discovered during the next audit cycle.

Best Practices

EBizCharge

MAY 13, 2024

Business owners and finance teams can use this data to make informed decisions, such as identifying trends in payment behavior and developing targeted strategies to address outstanding payments or to enhance the payment collection process. Cost savings: Shifting to an automated system can lead to substantial cost savings.

Automation

Nanonets

JULY 12, 2024

These documents collect information efficiently but often require manual processing. That's where intelligent document processing (IDP) comes in. IDP leverages OCR, AI, and ML to automate form processing, making data extraction faster and more accurate than traditional methods.

Process

Segpay

MARCH 10, 2025

Look for a gateway that includes PCI compliance, fraud detection tools, chargeback mitigation strategies, and AI-driven risk analysis to protect transactions and user data. Solution with Segpay: AI-Powered Fraud Detection Segpay uses advanced risk analysis, machine learning, and real-time fraud screening to block suspicious transactions.

Payment Gateways

Nanonets

APRIL 7, 2025

Regular audits and continuous improvement processes are essential to ensure the tool's accuracy and reliability over time. Set up quality control measures and regular audits to maintain accuracy. How to extract data from healthcare documents using Nanonets Nanonets is an AI-based OCR software.

Automation