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. Take SOX as one example.

Close Processes 105

Close Processes Compliance Automation Risk 105

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. 3) Operational Planning Beyond finance and HR, it supports holistic business planning across departments. Who Its Meant For?

On-Demand 130

On-Demand Automation AI Assessments 130

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

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 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.

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 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 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. Our Close went from 12 days down to 6.”

Reconciliation 80

Reconciliation Close Processes Audit Compliance 80

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

OCTOBER 13, 2021

To alleviate this concern, finance teams should employ scenario modeling and financial planning tools to compare the immediate expense of the move to the long-term income potential. It's critical that everyone from HR and finance to engineering and sales is involved in the innovation process for your business model transition to be effective.

Risk Management 130

Risk Management Risk Automation Close Processes 130

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

JULY 9, 2024

With its seventh consecutive quarter at the top spot, FloQast demonstrates not just consistency but also a deep understanding of the evolving needs of finance and accounting professionals. We have great visibility into when tasks and reconciliations are occurring, who is doing them, and where the bottlenecks are.

Continuity 104

Continuity Reconciliation Accounts Finance 104

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

Nanonets

MAY 22, 2025

Every month, financial teams race against time – reconciliations, approvals, and reports! The month-end close can often feel like Groundhog Day, with teams working overtime to process hundreds of invoices, match countless transactions, and catch any unusual entries before they become problems.

Automation 52

Automation AI Payment APIs and Integration Reconciliation 52

FloQast

APRIL 4, 2024

With its sixth consecutive quarter at the top spot, FloQast demonstrates not just consistency but also a deep understanding of the evolving needs of finance and accounting professionals. Users point to FloQast’s effectiveness in meeting the evolving needs of finance and accounting professionals and user experience in particular.

Reconciliation 80

Reconciliation Accounts Finance Small Business 80

Paystand

MARCH 13, 2024

Month-end close—the two words that strike fear into the hearts of finance teams everywhere. It's the time-consuming, stress-inducing process that every business dreads. Month-end close is the finalization of all financial transactions and reports at the end of each month. Let's start with the basics.

Finance 52

Finance Close Processes Process Transactions 52

Nanonets

MARCH 12, 2024

Record-to-Report (R2R) is a critical finance management process in corporate finance, which focuses on collecting, processing, and delivering accurate financial data. Data Processing: Transactions are classified, sorted, and recorded in the appropriate accounts. It serves several purposes - 1.

Process 52

Process Finance Reconciliation Compliance 52

PYMNTS

APRIL 5, 2020

Record to Report software provider Trintech has partnered with Sage in order to collaborate on new, speedier financial close processes, a press release states. The new program is available on the Sage Intacct Marketplace and will work to instantaneously grab data from the reconciliation and close phases of a deal.

Reconciliation 64

Reconciliation Close Processes Process Returns 64

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

OCTOBER 30, 2024

FloHub is a centralized library of third-party applications frequently used by accounting and finance teams to manage different aspects of their workflows.

Automation 98

Automation Accounts Process AI 98

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. Implementation was also a breeze.

Reconciliation 59

Reconciliation Close Processes Accounts Audit 59

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

Nanonets

FEBRUARY 8, 2024

Among finance professionals and business leaders, AP automation is quickly shifting from an exploratory endeavor to a key strategic priority. Tipalti is a finance automation platform that has been around since 2010. Paving the way during the early days of finance automation efforts, Tipalti has evolved with the needs of its users.

Finance 52

Finance Automation Multi-Currency Accounts 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. Following the close, many businesses will also need to open their accounts up for auditors – who will rigorously check their accuracy.

Reconciliation 52

Reconciliation Audit Automation Accounts 52

PYMNTS

OCTOBER 20, 2020

The release says this will allow MineralTree customers to save "substantial" time for finance staff, and cut costs on payment processing while doing away with overcharges and double payments. 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

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. Why Modernise the Month-End Close?

Close Processes 52

Close Processes Compliance Audit Automation 52

Nanonets

NOVEMBER 27, 2023

Netting in finance can work a few different ways, but no matter the netting process used, the goal is to reduce financial risks for all parties involved. Different business scenarios will require a specific netting process.    Settlement Netting A very common netting process is settlement netting.

Payment Amount 52

Payment Amount Venmo Settlement Process 52

Nanonets

APRIL 5, 2024

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. Its key features include multi-entity and multi-subsidiary support, global payment processing, and advanced tax compliance capabilities.

Automation 52

Automation Multi-Currency Compliance Process 52

FloQast

JANUARY 22, 2025

Automation and AI for Efficiency According to a survey from AvidXchange, 64% of finance leaders are using automation, and 17% plan to use it in 2025 mainly to improve efficiency and productivity. After all, any level of friction in your processes leads to lower productivity. These are two areas where AI and automation really shine.

Accounts 52

Accounts AI Automation Audit 52

Nanonets

FEBRUARY 26, 2024

Finance teams are well aware of the tedious and error-prone nature of manual accounts payable processes. Today, you can automate these processes using accounts payable automation solutions and optimise accounts payable for your finance teams. In essence, accounts payable forms the backbone of your finance operations.

Automation 52

Automation Accounts Payment APIs and Integration Process 52

Nanonets

APRIL 24, 2023

Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow. Get Started Schedule a Demo The loan origination process Loan origination is a 7 step process that every individual must go through to obtain a mortgage or home loan.

Origination 52

Origination Process Underwriting Automation 52

Nanonets

FEBRUARY 14, 2024

Think of these codes as the secret sauce that helps businesses organize their finances, making sure every dollar spent or earned is tracked accurately. The result is a faster, more efficient close process that also saves up your time which can be better spent elsewhere. Embrace the future of finance with Nanonets.

Transactions 52

Transactions Audit Accounts Automation 52

Nanonets

FEBRUARY 28, 2024

Whether you're a small business owner, a finance professional, a CFO, or simply curious about the financial operations of a business, this blog series promises to equip you with a thorough understanding of the General Ledger, its significance and it's effective implementation within a business. Sign up on  app.nanonets.com.

Automation 52

Automation Payment APIs and Integration Accounts Transactions 52

FloQast

DECEMBER 13, 2023

The purpose of the SPE was to secure financing from the bank and then transfer the cash to Enron for fictitious asset sales. And internal controls are in place throughout all departments of an organization, not just the accounting and finance departments. The CFO must be involved in the risk assessment.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

FloQast

DECEMBER 18, 2024

Maintaining a high standard of reporting requires accounting teams to optimize their close process, eliminating inefficiencies and delays wherever possible, adapting to changes in the regulatory landscape, and seizing opportunities created by advances in accounting technology.

Close Processes 98

Close Processes Process Accounts Adjustments 98

EBizCharge

NOVEMBER 11, 2024

With several types of accounting reconciliation, each serves a distinct purpose, whether it be cash-based methods or more intricate multi-step processes. What is reconciliation? Accounting reconciliation is critical for maintaining financial accuracy and involves different types, such as bank and credit card reconciliation.

Reconciliation 52

Reconciliation Best Practices Non-Bank Audit 52