VISTA InfoSec

JULY 5, 2023

Personal health data, a compilation of information related to a patient such as their Names , Birthdates , Social Security Numbers , and other medical record data , is used to identify their medical history and records stored in a database. A PCI QSA audit can provide assurance that you’re on the right track.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

Nanonets

SEPTEMBER 18, 2024

The sheer volume of paperwork can be overwhelming, time-consuming, and prone to errors. However, as companies grow, the volume of documents increases exponentially, making manual processing inefficient and error-prone.

Automation 52

Automation Audit Payment APIs and Integration Compliance 52

Segpay

DECEMBER 13, 2024

As organizations increasingly handle large volumes of data, they face the challenge of balancing robust identity management with data privacy regulations. In identity management, this right is challenging, particularly if a users information is stored in various authentication databases. How can organizations ensure data privacy?

Privacy 105

Privacy Compliance CCPA Authentication 105

Nanonets

JUNE 26, 2024

Audit Compliance protocols: Properly reconciled bank statements are required for accurate tax reporting and can help avoid penalties or issues during audits. " Scalability with high transaction volumes ": Nanonets can handle high transaction volumens with speed and precision.

Reconciliation 52

Reconciliation Adjustments Audit Checks 52

CB Insights

NOVEMBER 2, 2017

The volume of regulation has created more surface area for compliance gaps. This technology ranges from complementing existing compliance, audit, and risk workflows to replacing and wholly automating them through leveraging cutting-edge technologies like artificial intelligence, machine learning, and the blockchain.

Compliance 72

Compliance Regulations Audit Office of the Comptroller of the Currency 72

Nanonets

SEPTEMBER 12, 2023

Business expansions meant Happy Jewelers had an increase in the volume of invoices. Scaling up with business growth As Happy Jewelers expanded their business to new locations like Chicago and New York, they faced the challenge of managing an increased volume of invoices from multiple sources. " ~ AP Team at Happy Jewelers.

Automation 52

Automation Process Audit Compliance 52

Nanonets

APRIL 30, 2024

In today's digital-first age, the volume of data managed and processed by organizations has skyrocketed, making efficient data extraction techniques more crucial than ever. The final extracted data needs to be sent to a downstream business software or stored in a database.

AI 52

AI Due Diligence Automation Use Case 52

Nanonets

JUNE 18, 2024

Automated Accounts Reconciliation software like Nanonets can cohesively consolidate all data sources on one platform, automate the matching logic across external data sources and general ledgers, effectively provide an audit trail, and keep the process transparent for the accounting team personnel involved.

Reconciliation 52

Reconciliation Accounts Automation Credit Cards 52

Nanonets

SEPTEMBER 19, 2024

It has a built-in "data actions" centre which offers advanced formatting capabilities, like, adding/removing fields, fuzzy-matching fields against external databases, automatic categorisation, etc. Can handle large volumes in a secure manner. Yearly: $119.99 Lifetime: $199.99 mo Advanced: $247.23/mo Yearly: $119.99

Payment APIs and Integration 52

Payment APIs and Integration Non-Bank Reconciliation Volume 52

Nanonets

MAY 11, 2023

The invoice and payment details are archived in the GL for future audits. Missed invoices lead to delayed payments and associated penalties, strained vendor relationships, delays in operation, and audit issues. Invoice fraud is difficult to be manually detected, especially when the business volume is high.

Process 52

Process Automation Audit Checks 52

Basis Theory

OCTOBER 1, 2024

Today, more merchants are becoming PCI DSS compliant despite not having the prerequisite volume to necessitate it. PCI Levels vary by card brand but are generally determined by an organization’s current or projected annual card transaction volume. Return to Top Who needs to be PCI compliant?

PCI DSS 88

PCI DSS Compliance Encryption Assessments 88

Nanonets

JUNE 13, 2023

This is particularly useful when dealing with large volumes of data, where manual data entry is time-consuming and prone to errors. Similarly, an accounting department could utilize OCR to digitize receipts and invoices stored in SharePoint, making it easier to extract important financial data for analysis and auditing.

Database 52

Database Automation Process Fed 52

Nanonets

SEPTEMBER 27, 2024

Uploaded IDs undergo an authenticity check and data extraction, which is cross-verified against an external database for verification. This can cause issues with audit and credibility certifications. ✅ One-click Authentication against external databases: 1. or databases, like, Amazon S3.

Process 52

Process Underwriting Automation Database 52

Nanonets

SEPTEMBER 25, 2024

of Americans held transaction accounts , generating an unprecedented volume of financial data.   Bank statement processing is essential for accurate reconciliation , auditing, and financial reporting. Maintain an efficient audit trail for future retrieval. In 2022, a staggering 98.6%

Process 52

Process AI Best Practices Reconciliation 52

Nanonets

NOVEMBER 14, 2023

This involves scanning or document imaging, wherein essential data is collected, categorized, processed, and placed into databases. Particularly useful in scenarios with large document volumes. Auditing & Tax Compliance: Facilitates VAT compliance audits, utilizing deep learning algorithms for automated document checks.

Automation 52

Automation Facilitators Audit Legal 52

Nanonets

MAY 8, 2023

You can also create a new file on Google Sheets or the database of your choice containing all the extracted data. Understand the volume of transactions, their reconciliation steps, and details about the adjustment processes. Update Matching Entries After the approval, all the entries are updated in the ERP or accounting software.

Reconciliation 52

Reconciliation Automation Process Adjustments 52

Nanonets

APRIL 15, 2024

This process can be extremely time-consuming, especially for businesses with a high volume of transactions. Limited Scalability: As businesses grow and transaction volumes increase, manual reconciliation becomes increasingly impractical. Auditing Challenges: Manual reconciliation can pose challenges during audits or financial reviews.

Reconciliation 52

Reconciliation Adjustments Checks Correspondent 52

Nanonets

OCTOBER 16, 2024

Validation and Verification: Extracted data is now checked for accuracy, it could involve multiple options such as: Cross-referencing with existing databases Automated error detection based on predefined logic Confidence scoring for extracted data Manual review 6.

Automation 52

Automation Compliance Process Legal 52

FICO

MARCH 6, 2020

We offer best-in-class multi-tenant capabilities (including multi-language, multi-currency), detailed audit trails, and electronic, automated regulatory reporting and filing in any required format. How does your software actually work, does it connect to government databases, perform statistical analyses?

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

Nanonets

JULY 21, 2023

In addition to accelerating the reconciliation process, reconciliation software also enables an audit trail, significantly improving transparency and accountability. Once approved, the reconciled data is securely stored in a centralized database, ensuring an auditable trail.

Reconciliation 52

Reconciliation Payment APIs and Integration Automation Online and Mobile Banking 52

Nanonets

JUNE 12, 2024

Record Keeping: Maintaining accurate records of all purchases and documenting every process in the procurement cycle is very important for reconciliation, auditing and fraud detection. Larger companies need well maintained PO systems to manage their procurement processes due to the volume of transactions and employees involved.

Best Practices 52

Best Practices Automation Small Business Process 52

Nanonets

FEBRUARY 28, 2024

Documentation : Documenting the reconciliation process is essential for maintaining an audit trail, which includes detailed records of the steps undertaken, discrepancies identified, and the corrective measures applied. Technologies and methodologies employed in this process include comprehensive checks on the volume of data transferred (e.g.,

Reconciliation 52

Reconciliation Process Audit Compliance 52

Nanonets

JUNE 24, 2024

Credit card reconciliation is essential as it helps businesses prevent fraud, maintain financial integrity, optimize spending, and keep the company's books audit-friendly during the financial close process , typically occurring at the end of each month. How to do Credit Card Reconciliation?

Reconciliation 52

Reconciliation Credit Cards Correspondent Issuers 52

Nanonets

OCTOBER 1, 2024

The invoice is then filed for future reference or audits, completing the validation process. This leads to an overpayment, which is only discovered during the next audit cycle. Such disconnected systems increase the risk of errors and make it difficult to maintain a comprehensive audit trail. check, ACH, wire transfer) selected.

Best Practices 40

Best Practices Automation Multi-Currency Process 40

Nanonets

MARCH 20, 2023

Automated accounts payable software can efficiently manage large volumes of financial transactions between a company and its suppliers, while also automating ancillary activities such as approvals and payments. and databases (MySQL, PostGres, MSSQL, etc.) Accounts payable software is increasingly being used by businesses worldwide.

Accounts 52

Accounts Payment APIs and Integration Multi-Currency Automation 52

Nanonets

APRIL 16, 2023

The technology is a specific SaaS that helps to manage large volumes of invoices and transactions between a business and its vendors. It should help a business create an ongoing audit trail that can be managed and accessed at any time. AP automation software creates an indestructible audit trail of the entire accounting process.

Automation 52

Automation AI Accounts Reconciliation 52

Nanonets

FEBRUARY 26, 2024

This is particularly beneficial when large volumes of documents, such as invoices or receipts, must be handled promptly. Audit Ready: Nanonets maintains a secure log of all activities for audit requirements. Make a digital archive of your financial documents to create a searchable database. Users are billed at $0.08

Accounts 52

Accounts Payment APIs and Integration Automation Multi-Currency 52

CB Insights

FEBRUARY 21, 2019

Reducing siloed databases: Real estate processes would benefit from secure and tamper-resistant shared databases that compile data and documents from various different stakeholders in one place. Blockchain technology can fix these problems by allowing a property listing to exist on a single decentralized database.

Blockchain 78

Blockchain Due Diligence Legal Transactions 78

FICO

MARCH 27, 2018

Even when data is available it is often spread across multiple tables within complex databases. While individual staff members may not buy in bulk, across the enterprise volumes exist to get significant price discounts. Reduction in effort to review and audit purchases. These allow for deep discounts.

Governance 40

Governance Government Duplicate Risk 40

Nanonets

JUNE 13, 2024

Want automated data extraction capabilities once you upload your documents (meaning no data entry or creating templates) and transaction matching powered by ML algorithms (meaning AI matching) across documents you either upload, receive from an email or provide connection to the database ?

Reconciliation 52

Reconciliation Automation Accounts Close Processes 52

Nanonets

SEPTEMBER 21, 2023

In addition to aiding in financial transactions, invoices are an integral part of  accounting internal controls  and  audits. Invoices play a crucial role in maintaining accurate accounting records, internal controls, and facilitating  audits.

Audit 40

Audit Legal Accounts Transactions 40

Nanonets

JUNE 15, 2023

Yet, despite this evolution, the management of documents can still pose significant challenges to businesses due to the volume, variety, and complexity of information they contain. It also made auditing a daunting task, as tracking document flow was challenging. This has expedited the approval process and provided a clear audit trail.

Automation 40

Automation Payment APIs and Integration Audit Process 40

Nanonets

DECEMBER 6, 2023

Applicant tracking systems automate job postings, resume screening, and candidate communication, enabling HR teams to efficiently manage large volumes of applications. This reduces the risk of non-compliance, avoids penalties, and provides a secure and auditable HR environment.

Automation 52

Automation Process Payroll Compliance 52

Nanonets

JUNE 19, 2023

Applicant tracking systems automate job postings, resume screening, and candidate communication, enabling HR teams to efficiently manage large volumes of applications. This reduces the risk of non-compliance, avoids penalties, and provides a secure and auditable HR environment.

Automation 52

Automation Process Compliance Payroll 52

Nanonets

MARCH 14, 2024

Compliance: It ensures compliance with internal procurement policies and external regulations, minimizing financial risks and audit issues. How manual 2-way matching works Manual 2-way matching is typically favored only by businesses with very low transaction volumes or those with specific requirements necessitating human oversight.

Payment APIs and Integration 52

Payment APIs and Integration Automation Correspondent Checks 52

Nanonets

JUNE 12, 2023

These technologies help improve productivity, ensure compliance, and provide valuable insights from the vast volumes of unstructured data that many organizations produce and store on OneDrive. By digitizing documents through OCR, an audit trail is created, making it easier to demonstrate compliance with records retention laws.

Automation 52

Automation Compliance Process Record Retention 52

Nanonets

JUNE 23, 2023

For example, if a business receives a high volume of customer support tickets, instead of resolving them all manually, an automated workflow would help streamline the process. Workflow automation operates on the principle of defining and automating a series of interconnected tasks or actions to accomplish a specific business process.

Automation 52

Automation Facilitators Process Rules 52