FloQast

OCTOBER 30, 2024

FloQast’s Accounting Transformation Platform is designed to tackle the challenges accountants face every day, using advanced AI to streamline and automate processes. FloQast Journal Entry Management simplifies your workflow by automating the process of journal entries, reducing errors, and saving valuable time.

Automation 98

Automation Accounts Process AI 98

FloQast

FEBRUARY 14, 2024

Revolutionizing Accounting Processes FloQast’s influence stretched beyond SOX compliance, positively impacting a.k.a With FloQast’s close management capabilities in place, the finance team optimized their close process and achieved greater efficiency. Brands’ accounting procedures.

Compliance 105

Compliance Reconciliation Close Processes Automation 105

Nanonets

JUNE 18, 2024

Introduction to Account Reconciliation Account reconciliation is the critical process of comparing your general ledger with internal and external sources. Account Reconciliation can be a fairly manual task, especially right before the monthly close. Why is Account Reconciliation so Important?

Reconciliation 52

Reconciliation Accounts Automation Credit Cards 52

PYMNTS

DECEMBER 16, 2016

In a survey conducted by the Institute of Management Accountants (IMA), and sponsored by Blackline, titled “Process Automation in Accounting and Finance,” examining the attitudes and concerns of 750 financial professionals surrounding accounting and month-end closing processes, manual activities remain prevalent — at the cost of time and money.

Automation 74

Automation Process Reconciliation Close Processes 74

FloQast

MARCH 25, 2024

And solutions that are easy to implement help businesses mitigate the cost of traditional close processes and enhance performance. Automation can reduce the time to close by 26 % or more. This increases the time it takes to close and adds more pressure to workloads during this process.

Close Processes 105

Close Processes Compliance Automation Risk 105

Nanonets

JUNE 14, 2024

What is Balance Sheet Reconciliation? Balance sheet reconciliation is a critical financial process that aligns the financial statements with external documentation such as bank statements, invoices, and general ledger entries. What is Balance Sheet Reconciliation? What is a Balance Sheet?

Reconciliation 52

Reconciliation Adjustments Automation Accounts 52

Nanonets

JUNE 24, 2024

What is Credit Card Reconciliation? Credit card reconciliation is the process of ensuring that the credit card transactions match the internal general ledger. Credit cards have made it easier for businesses to process payments. Why Is Credit Card Reconciliation Important? How to do Credit Card Reconciliation?

Reconciliation 52

Reconciliation Credit Cards Correspondent Issuers 52

FloQast

AUGUST 22, 2024

G&W ) , a major freight railroad operator with 115 railroads globally, was facing challenges in their month-end Close process, complicated by a pending ERP migration. FloQast offered immediate productivity gains, comprehensive ERP migration support, and a smooth implementation process, making it the ideal solution for G&W.

Reconciliation 86

Reconciliation Audit Close Processes Compliance 86

Nanonets

MAY 6, 2024

Spreadsheets like Excel have long been a staple for account reconciliation , but their limitations are becoming increasingly evident. Finally, the manual nature of these processes contributes to difficulties in retaining financial and accounting talent and attracting new employees, exacerbating staffing concerns within organizations.  

Reconciliation 52

Reconciliation Accounts Audit Automation 52

Nanonets

JULY 21, 2023

To ensure the integrity of financial data, accountants and bookkeepers rely on the general ledger account reconciliation process. This process involves comparing general ledger accounts with supporting documents using reconciliation software to identify discrepancies and take corrective measures.

Reconciliation 52

Reconciliation Payment APIs and Integration Automation Online and Mobile Banking 52

The Finance Weekly

FEBRUARY 22, 2025

Primarily built for large enterprises and growing mid-sized businesses, the platform supports finance teams in budgeting, forecasting, workforce planning, and financial close processes. Budgeting & Forecasting - Automate budgeting processes and generate real-time financial forecasts based on live data.

On-Demand 130

On-Demand Automation AI Assessments 130

Nanonets

JULY 24, 2023

Finance reconciliation plays a pivotal role in ensuring the reliability and accuracy of a business's financial records.   Financial reconciliation is a recurring process that encompasses various sources of financial information within a business. What is finance reconciliation?

Reconciliation 52

Reconciliation Finance Duplicate Accounts 52

Nanonets

JUNE 23, 2023

Balance sheet reconciliation is a critical process in finance and accounting that ensures the accuracy and integrity of financial statements. While it may seem like a straightforward process, there are common mistakes that can hinder the effectiveness of balance sheet reconciliation. What is Balance Sheet Reconciliation?

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 52

Nanonets

JANUARY 31, 2024

Month-end close is a widely accepted accounting standard that is aimed at keeping an accurate set of financial records and detecting errors/fraud. Month-end reconciliation is the most important part of the month-end close process. Here is how you can do monthly reconciliation. The medium monthly close time is 6.4

Best Practices 52

Best Practices Reconciliation Adjustments Correspondent 52

FloQast

AUGUST 14, 2024

Fanatics , a global leader in sports fan experiences and v-commerce, was grappling with an inefficient month-end Close process. Discovering FloQast marked a turning point for Fanatics, providing the efficiency and control needed to enhance their financial processes.

Reconciliation 80

Reconciliation Close Processes Audit Compliance 80

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. With the rising company transactions comes the credit card reconciliation or reconciliation process. While it sounds simple, many intricacies are involved in the process.

Reconciliation 52

Reconciliation Credit Cards Automation Accounts 52

The Finance Weekly

OCTOBER 13, 2021

Organizations may , eliminate many of the manual processes that stymie a company's ability to accomplish a speedy financial closure by employing AI and machine learning to automate financial close processes including account reconciliation and reporting. Think through the “extended” process.

Risk Management 130

Risk Management Risk Automation Close Processes 130

FloQast

JANUARY 10, 2024

As the company prepared for its initial public offering in 2021, Ryan Harmer , Vice President of Accounting and Corporate Controller, recognized the need for a significant transformation in their month-end Close processes. If you want to automate your accounting Close and everything that goes with it, FloQast is a fantastic tool.”

Accounts 105

Accounts Reconciliation Compliance Close Processes 105

FloQast

JANUARY 22, 2024

Companies that automate their financial statement preparation processes often benefit from improved accuracy, near real-time data, and increased efficiency. Fact: Companies that automate part of their financial statement preparation process reduce time-to-Close by 33% or more.

Automation 52

Automation Reconciliation Audit Accounts 52

FloQast

JUNE 17, 2024

With a diverse portfolio and operations spanning multiple continents, the company faced significant challenges in its month-end Close process. Aspect Energy’s monthly Close times ranged from 15 to 45 days, creating delays in financial reporting and decision-making. Improvements Seen: U.S.

Close Processes 98

Close Processes Best Practices Accounts Process 98

FloQast

NOVEMBER 18, 2024

The Accounting Transformation Platform introduces new AI workflows to deliver value throughout every step of the accounting journey, including: Optimize the close Automate the close Connected compliance Integrated record-to-report To support this platform, we announced the launch of three new solutions.

Compliance 98

Compliance Automation AI Product 98

FloQast

NOVEMBER 11, 2024

In every accounting department I’ve been a part of, a crucial period rolls around at the end of each month: the month-end Close. The month-end close process is the culmination of a month’s worth of financial transactions, when all hands are on deck to ensure the company’s financial records are accurate and up-to-date.

Reconciliation 52

Reconciliation Close Processes Accounts Transactions 52

Nanonets

APRIL 5, 2024

Tipalti and Airbase are powerful AP automation platforms that can seriously streamline financial processes. Whether you're a finance pro, a decision-maker, or a business owner, this in-depth Tipalti vs. Airbase comparison will give you the insights you need to choose the right AP automation solution for you.

Automation 52

Automation Multi-Currency Compliance Process 52

FloQast

JUNE 5, 2024

In late 2021, SumUp , a global payments provider serving millions of businesses worldwide, faced significant challenges with their manual, spreadsheet-based monthly Close process. Streamlined Workflows: FloQast offered pre-built templates and workflows specifically designed for the Close process.

Close Processes 52

Close Processes Addressing Reconciliation Automation 52

FloQast

APRIL 7, 2024

With the close taking up to eight business days per month, CFOS must understand efficiency challenges and identify opportunities to speed up and streamline close tasks for optimal performance. In this article, we will look at best practices for enhancing your close and how automated software tools can help you reduce completion times.

Best Practices 52

Best Practices Reconciliation Close Processes Automation 52

Nanonets

FEBRUARY 26, 2024

Today, you can automate these processes using accounts payable automation solutions and optimise accounts payable for your finance teams. Our blog cuts through the complexity of AP processes, presenting a clear pathway to automation in 7 steps. What is Accounts Payable Automation?

Automation 52

Automation Accounts Payment APIs and Integration Process 52

PYMNTS

JANUARY 26, 2018

“Managing the month-end close is a process of continual improvement,” he said. It’s best practice to review the just-completed close and look for opportunities to be better next time.”. The core of the close process remains the same: corroborate the numbers in the general ledger,” explained Feinstein.

Close Processes 47

Close Processes Innovation FinTech Accounts 47

PYMNTS

OCTOBER 20, 2020

Accounts payable and payments automation solution MineralTree has added automated PO and invoice matching for cloud-based accounting and financial management platform Sage Intacct , a press release says. Trintech made the program for its Adra Suite and it became available via the Sage Intacct Marketplace.

Automation 52

Automation Procedures Reconciliation Close Processes 52

FloQast

MAY 7, 2024

The Year End Close: Why Does It Matter? The Year-End closing process is the regulatory requirement that companies verify the accuracy of their annual finances. FloQast organises not only my close workflow but that of my entire team. It makes it easy for me to see exactly where everyone is in the close process.

Reconciliation 52

Reconciliation Audit Automation Accounts 52

FloQast

DECEMBER 18, 2023

We have great visibility into when tasks and reconciliations are occurring, who is doing them, and where the bottlenecks are. The ability for FloQast to systematically ensure that the Excel reconciliations agree to our ERP and remain in balance has been a game changer for reviewers.

Reconciliation 59

Reconciliation Close Processes Accounts Process 59

Nanonets

JUNE 27, 2024

Reconciliation is a crucial accounting process that ensures the accuracy of the financial close process. Bank reconciliation is essential since it helps in the early detection of fraud, prevents financial statement errors during manual data entry, and provides a clearer picture of the company's finances.

Accounts 40

Accounts Reconciliation Adjustments Checks 40

FloQast

MARCH 22, 2024

Outdated manual month-end close processes are a pain point for companies of every size – taking up as much as 40% of finance departments’ monthly working time and attention – an effort that could be better spent adding value to the business in other ways.

Close Processes 52

Close Processes Compliance Audit Automation 52

Nanonets

MARCH 12, 2024

Data Processing: Transactions are classified, sorted, and recorded in the appropriate accounts. Reconciliation: Ensuring that all financial data is accurate and consistent across reports. Reconciliation: Reconciliation involves manually checking the records against bank statements and receipts.

Process 52

Process Finance Reconciliation Compliance 52

Nanonets

APRIL 24, 2023

 The lender typically charges a loan origination fee, which is around 1% of the loan amount, to cover the cost of the work involved in the origination process. Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow.

Origination 52

Origination Process Underwriting Automation 52

FloQast

JANUARY 22, 2025

Unfortunately, traditional processes are still very prevalent in accounting departments, and their inefficiencies and high risk of error make them a persistent problem for departments and the organization as a whole. These are two areas where AI and automation really shine. What AI and automation features are available?

Accounts 52

Accounts AI Automation Audit 52

Nanonets

FEBRUARY 8, 2024

Among finance professionals and business leaders, AP automation is quickly shifting from an exploratory endeavor to a key strategic priority. If it feels like there is a never-ending supply of these tools, finding the ones that are worth your time and money can be the most time-consuming part of the robotic process automation journey.

Finance 52

Finance Automation Multi-Currency Accounts 52

Nanonets

FEBRUARY 28, 2024

We'll also explore how to efficiently manage and utilize your General Ledger, including the implementation of modern software solutions to automate and streamline your accounting processes. Bank Reconciliation : Tools to match bank transactions with GL entries. Journal Entries : Manual and automatic entry capabilities.

Automation 52

Automation Payment APIs and Integration Accounts Transactions 52