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OneStream Launches Automated Account Reconciliation

PYMNTS

The program can be used for everything from intercompany transactions, accounts payable and receivable, travel and entertainment (T&E) reporting, bank clearing and lockbox to general ledger cash accounts. The Transaction Matching software goes hand-in-hand with OneStream’s existing Account Reconciliation.

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What ‘Work From Home’ Means For Paper-Based AR Departments

PYMNTS

As Biegel explained, a lack of data standardization across payment tools remains a challenge to the reconciliation and cash application process, even when that data is electronic. Lockbox Data Headaches. Yet payers include a vast array of information with their check payments, and lockbox providers relay that data in different ways.

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Commercial Cards: It’s All About The Data

PYMNTS

Once reserved for only the largest and most sophisticated firms, automated enterprise resource planning (ERP) and accounting platforms are now accessible for even the smallest of businesses, and data from those systems is the new currency of operational efficiency. A Reconciliation Headache. According to Dean M.

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AI Rides To Rescue Of Analog Accounting Processes

PYMNTS

“One of the many challenges faced by companies and corporations is the automation of the processing and application of payments,” he told PYMNTS. All too often, he said, bringing automated payments processes and reconciliation, as well as improved cash collections, are not viewed as offering significant enough returns on investment.

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Why The Time Is Right For Banks To Offer Integrated Receivables

PYMNTS

For receivables, Berdan noted that larger banks have done well with lockboxes as have smaller banks have with remote deposit capture (RDC). With electronic payments, a corporation might be left with a tedious reconciliation process. But those trends are on the decline, according to Berdan, as more payments become electronic.

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FTNI Brings AR Automation To Horicon Bank Clients

PYMNTS

Horicon Bank will now offer its corporate clients Remote Deposit Capture, online payments, single and recurring ACH payments, mobile payments, credit card payments and lockbox processing solutions powered by FTNI.

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Innovation Eases The Friction Of Global Payment Rails

PYMNTS

ACH transaction data standardization will also be important for reconciliation and reporting, said Thorness. In addition to its new cash application capabilities, accounts receivable technology provider Invoiced recently announced a virtual lockbox solution aimed to address the friction of paper checks.