VISTA InfoSec

MARCH 28, 2024

This article explores ten key principles that every company should know and implement to ensure the highest level of data security. Data Security To secure customer data, employ encryption for data at rest and in transit. Use strong, unique passwords and consider multi-factor authentication for an added layer of data security.

Data Breach

Nanonets

AUGUST 1, 2023

In the rapidly evolving world of auditing, innovative technologies have revolutionized traditional practices. Auditors are now increasingly embracing the agile auditing approach previously used in software development. This strategic allocation of resources optimizes auditing efforts, leading to more focused and effective audits.

Audit

Nanonets

AUGUST 1, 2023

Over the years, the auditing landscape has undergone remarkable transformations, and among the most significant advancements has been the advent of audit automation software solutions. Computer-Assisted Audit Tools and Techniques (CAATTs) have been available to auditors since the early 1990s. The situation has changed now.

Audit

PYMNTS

JANUARY 18, 2019

As reported late this week in Dark Reading , and as estimated by security research firm Agari , efforts are “ramping up” wherein criminals look to “divert payrolls” of senior executives. Among the findings in that report: Only 10 percent of employee expenses — the ones being sent along in expense reports — are being audited.

Business Email Compromise

PYMNTS

MARCH 28, 2019

Automated expense report auditing company AppZen is introducing a new spend auditing platform to analyze supplier invoices using artificial intelligence (AI). “The major takeaway from this data is not that employees in certain industries commit more fraud,” AppZen noted at the time. ”

AI

The Payments Association

MARCH 25, 2025

Without clear answers, duplicated work can lead to mistakes, disputes, and unnecessary delays. The real cost here isnt just fines or audits; its the time multiple employees spend trying to make sense of unclear or inconsistent interpretations. How is this information communicated to affected teams?

Compliance

Nanonets

APRIL 3, 2024

Fraud Detection and Prevention: Through vendor reconciliation, businesses can detect discrepancies that may indicate fraudulent activities such as overbilling, duplicate invoices, or fictitious vendors. Any discrepancies, such as duplicate payments or missing entries, must be identified.

Reconciliation

PYMNTS

NOVEMBER 10, 2017

Especially for businesses that rely on manual expense reports, management and auditing processes, an employee that fudges a dollar amount here and there, or a worker who accidentally submits an expense report twice, mean companies can easily fall victim to fraud, both intentional and unintentional. It’s a very involved process.

Duplicate

Nanonets

NOVEMBER 16, 2023

They should align with the goods or services received and must not be duplicates of invoices that were already processed.   Duplicate Invoice or Payment Audit The final is to verify that the payment hasn’t already been sent to a vendor for the line items on the invoice.

Accounts

Fintech Review

NOVEMBER 19, 2023

Transprency : A public ledger lists every transaction for anyone to audit. Data security : Data is cryptographically safe, making it very challenging to change or forge. Improved Data Security Photo by Pixabay on Pexels.com Online businesses are constantly in danger from data leaks and cyberattacks.

Blockchain

CB Insights

MARCH 21, 2018

Enter blockchain technology, a cryptographically secured form of shared record-keeping. Health insurance: Through the blockchain, medical records can be cryptographically secured and shared between health providers, increasing interoperability in the health insurance ecosystem.

Blockchain

Nanonets

SEPTEMBER 25, 2024

  Bank statement processing is essential for accurate reconciliation , auditing, and financial reporting. Maintain an efficient audit trail for future retrieval. Set up rule-based workflows to identify and remove any duplicate entries and human review for complex or ambiguous transactions.

Process

FICO

MARCH 27, 2018

This could include potential waste and fraud, or situations that risk data security issues or HIPAA violations, as just two examples. 5) Reduce Duplicate Invoice Payments. Most ERP systems are designed to prevent duplicate payment of a single invoice. Reduction in effort to review and audit purchases. Conclusion.

Governance

FloQast

JANUARY 22, 2024

For example, grocery technology company Instacart moved from using Google Sheet checklists for month-end Close to an automated system that provided a complete audit trail of changes. The traditional method also has a lot of paper documentation to use as an audit trail. And the audit trail is also attached and quickly recovered.

Automation

FICO

APRIL 3, 2019

This can result in improper transactions slipping through, which has the potential to expose the organization to risk, bad audit findings and reputational damage. A lot of organizations have instituted significant manual processes to review and audit their data. data security, HIPAA, PII).

Risk

Nanonets

NOVEMBER 15, 2023

Additionally, the invoices must be matched with the corresponding purchase orders and goods receipts to avoid duplicate invoices, fraud, and errors. It can integrate with your existing bank or payment processor to facilitate smooth and secure payments. AP clerks would often have to follow up repeatedly to ensure timely approvals.

Accounts

Nanonets

JUNE 21, 2023

This process helps identify any missing or unmatched payments, duplicate transactions, or other errors that may impact the financial records. By comparing payment data from different sources, businesses can identify discrepancies, such as missing or unmatched payments, duplicate entries, or recording errors.

Payment Reconciliation

Nanonets

MAY 6, 2024

This results in scattered files, versioning issues, the need to track down stakeholders for missing information, the generation of duplicate datasets, and more.   BlackLine also provides configurable dashboards and reports that offer insights into reconciliation status, performance metrics, and audit trails.

Reconciliation

The Payments Association

MAY 16, 2025

Next steps/action required: Commission a digital accessibility audit of all consumer-facing platforms and payment interfaces. Next steps/action required: Audit your current SCA exemption strategy and soft decline rates. Merchants may also face reputational risks and customer churn linked to perceived exclusion.

Regulations

FloQast

OCTOBER 27, 2023

In 2022, the Securities and Exchange Commission (SEC) levied $1.1 Plus, it captures audit evidence at the source, eliminating duplicate audit activities and complexity. You can get a demo and see how to stay audit-ready, reduce risk, and save time. The post What is Compliance Management?

Compliance

Nanonets

NOVEMBER 14, 2023

Reduced Errors: Manual data entry is error-prone, leading to inaccuracies in reports due to incomplete data, missing/correct material, and duplicates. Improved Security: Paper-based processes offer lower visibility, making companies susceptible to fraudulent acts. Benefits: Enhances data security, customizable plans starting at $2.50

Automation

FloQast

JANUARY 22, 2025

Lack of integration results in: Data silos Greater risk of errors Duplicated efforts and thus more work for accounting departments Simply put, disjointed point solutions not only hinder efficiency but also erode trust in the systems meant to support accounting teams, leaving them overburdened and unable to perform at their best.

Accounts

Nanonets

AUGUST 21, 2023

Duplicate payments, incorrect amounts, and missed deadlines are just a few examples of the inaccuracies that can occur with manual processing.  Enhanced compliance Creating audit trails and maintaining detailed payment records can be challenging with manual processes.

B2B

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

Nanonets

APRIL 16, 2023

Errors at the start of the invoice processing workflow can snowball into serious outcomes such as over-payment, incorrect payments, invoice duplication, etc. An invoice is created, matched against POs and delivery receipts based on pre-set rules, and checked to ensure there are no duplicate invoices.

Automation

PYMNTS

DECEMBER 3, 2018

Add legislation like PSD2 into the mix, which promotes data sharing and security, and there is an opportunity for T&E processes to be truly transformed, Jouini recently told PYMNTS. It’s certainly the case for expense management, said Karim Jouini, CEO of France-based Expensya.

Automation

Nanonets

JUNE 17, 2023

Enhancing Accuracy: By detecting errors such as miscalculations, omissions, duplications, and human errors (such as transposed digits during data entry), account reconciliation improves the accuracy of account balances. These errors might include duplicate entries in a subsidiary journal or misclassifying an asset as an expense.

Reconciliation

Nanonets

JULY 14, 2024

Easy invoice tracking features Secure platform Pros: Good customer service Easy integrations Cons: The workflow automation features are very basic Not very user-friendly for nonfinancial professionals Bank reconciliation is difficult Editing line items is difficult. Top features: Easy expense claims and reimbursement processes.

Automation

Nanonets

DECEMBER 25, 2023

Security : Offering robust security measures to protect sensitive payment information. Duplication of Entries : If the integration isn't set up correctly, you might end up with duplicate entries. Tips for Overcoming Challenges: Regular Audits : Regularly audit your financial data to ensure accuracy and consistency.

Finance

Nanonets

SEPTEMBER 21, 2023

Regular audits should be conducted to detect and prevent any potential  accounts payable fraud , ensuring the integrity of payment processes. Conduct regular audits to detect and prevent  accounts payable fraud. Regular audits are another crucial aspect of fraud prevention.

Accounts

Nanonets

APRIL 29, 2024

Error Detection and Resolution : The software detects discrepancies or inconsistencies between credit card statements and accounting records, such as missing transactions, duplicate entries, or incorrect amounts. It employs encryption, access controls, and audit trails to protect sensitive financial information.

Reconciliation

Nanonets

APRIL 12, 2023

In this step, organizations validate and clean the data, removing any discrepancies, duplicates, or errors. Errors in data entry and invoice processing : Manual data entry and invoice processing can result in errors, such as duplicate payments or incorrect information, which can lead to additional costs and delays.

Duplicate

Nanonets

AUGUST 10, 2023

Reduces inaccuracies: Invalid data, duplicate entries, and fraudulent claims are flagged automatically and can be dealt with immediately. This ensures all claims are compliant, reducing the risk of audits and penalties. Plus, improving accuracy and reducing duplicate and fraudulent claims can save you more money in the long term.

Automation

Nanonets

FEBRUARY 27, 2024

Streamlined Audit Trail: The precision of the date extraction and GL coding , and the subsequent automated data export to QuickBooks creates a clear, detailed audit trail. The Compliance Cruise Control:  Continuous, automated audits make life easier.

Automation

Nanonets

APRIL 2, 2023

You are not only causing waste of working hours for the employees but also the business to do more mistakes, duplication, and loss of productivity. Expense processing In the case of expense requests being accepted, they are forwarded to the accounts team for payment and auditing purposes. Some of them are as follows.

Automation

Nanonets

APRIL 16, 2023

It should help a business create an ongoing audit trail that can be managed and accessed at any time. Compliance and Auditing If your company does a lot of global business, having tools that help you stay in compliance are critical. AP automation software creates an indestructible audit trail of the entire accounting process.

Automation

Nanonets

MARCH 20, 2023

Features : Easy customization Intelligent data capture Advanced workflow with graphical interface Audit trail Email alerts Integration and functionality of key modules such as Epicor CPQ, Quick Ship, Epicor ECM, Advanced MES, and Epicor ECC. Looking to automate your manual AP Processes?

Accounts