Nanonets

OCTOBER 18, 2024

Many businesses rely on multiple systems for OCR data capture, invoice processing, approvals, and payment reconciliation, which makes the process lengthy, expensive, and highly inefficient. For instance, 3-way matching ensures that invoices, POs, and receipts are cross-checked before payment, improving accuracy and compliance.

Payment APIs and Integration 52

Payment APIs and Integration Automation AI Multi-Currency 52

Nanonets

AUGUST 21, 2023

B2B payment automation is a technology-driven process that streamlines the way businesses handle payments to suppliers, contractors, and other business partners. Payment execution Payment automation software then initiates payments based on the approved invoices and payment terms.

B2B 52

B2B Automation Payment APIs and Integration Payments 52

Nanonets

JULY 14, 2024

Data validation: Checks for errors and inconsistencies, ensuring accuracy. Payment processing: Facilitates timely payments, often integrating with your existing financial systems. Automate invoice approvals , invoice review, invoice payment reconciliation , and invoice payments with automated workflows.

Automation 52

Automation Process Multi-Currency Online and Mobile Banking 52

Nanonets

APRIL 16, 2023

Verify bank accounts Automate approvals Instant vendor notifications Check against blacklists OCR and Machine Learning AI & OCR Technology in AP Automation At the start of the invoice management cycle, documents must be scanned so the data can be captured and entered into the system. No more stitching together spreadsheets or reports.

Automation 52

Automation AI Accounts Reconciliation 52

Nanonets

NOVEMBER 15, 2023

Your team won't be staring at Excel sheets, manually cross-checking numbers. Additionally, the invoices must be matched with the corresponding purchase orders and goods receipts to avoid duplicate invoices, fraud, and errors. These traditional methods require resources, add to the processing time, and delay vendor payments.

Accounts 52

Accounts Payment APIs and Integration Audit Automation 52

Nanonets

SEPTEMBER 29, 2023

Data Discrepancies: You might encounter discrepancies between payment records, invoices, and receipts. These discrepancies can lead to confusion and hinder accurate payment reconciliation. This cohesive approach simplifies tracking and reconciliation, freeing up valuable time for more strategic financial tasks.

Payments 52

Payments Reconciliation Automation ACH 52

Nanonets

FEBRUARY 26, 2024

Sorting through stacks of paper invoices, reaching out to approvers individually, and mailing checks are extremely tedious and error-prone. This could also lead to late payments or in some cases potential  vendor fraud. Reconciliation: Labor-intensive process of matching bank transactions with ledger entries.

Automation 52

Automation Accounts Payment APIs and Integration Process 52

Nanonets

FEBRUARY 1, 2024

Accounts Payable (AP) automation is the use of technology to streamline and improve the process of managing a company's bills and payments owed to others. Instead of manually handling invoices, checking them, and making payments, AP automation uses software to do these tasks more quickly, accurately, and with less human effort.

Automation 64

Automation Accounts Process Multi-Currency 64

Nanonets

SEPTEMBER 22, 2023

Example invoice number table: Invoice Number Creation Date Payment Date Status INV-001 2022-01-01 2022-01-15 Paid INV-002 2022-02-01 In Progress Unpaid INV-003 2022-03-01 Pending Unpaid In summary, the invoice number plays a crucial role in  invoice management  by aiding in tracking and marking invoices as paid.

Reconciliation 40

Reconciliation Automation Disputes Process 40

EBizCharge

FEBRUARY 13, 2025

This integrated payment solution allows companies to process various types of transactions, including credit cards, debit cards, and Automated Clearing House (ACH) payments, also known as electronic checks. NetSuite can work with multiple payment gateways and providers, ensuring flexibility and security in handling transactions.

Processors 52

Processors Payment Gateways Duplicate Disputes 52