The Fintech Times

FEBRUARY 14, 2024

Crucial for organisations worldwide, this transformation rewrites the rules and offers a seamless alternative to tedious data entry, high processing costs, and lost invoices, promising a new era of financial agility. Supplier identification: Occasionally, suppliers are duplicated in the company’s master data source.

Automation 103

Automation Process Duplicate Compliance 103

Stax

NOVEMBER 11, 2024

When you’re selling products or services that cost thousands of dollars, you end up paying hundreds of dollars in credit card fees. Using ACH payments reduces your processing costs to a fraction of what you’d typically pay when a client uses a credit card. This also makes ACH payments ideal for high-value transactions.

ACH 88

ACH Checks Identity Theft Payments 88

EBizCharge

MAY 20, 2024

Industry-compliant security Since security is paramount, the NetSuite platform adheres to strict industry PCI compliance standards to ensure payment data is securely processed and stored. NetSuite takes payment processing security very seriously, employing robust measures to ensure the safety and integrity of sensitive financial data.

Process 52

Process PCI DSS Processors Payment APIs and Integration 52

Nanonets

APRIL 16, 2023

Source: esker The introduction of intelligent automation into the accounts payable process minimizes the risk of manual intervention, accelerates operations, and helps maintain compliance. The brand processes over 2 million images every month with GDPR compliance and on-premise hosting.

Automation 52

Automation AI Accounts Reconciliation 52

Nanonets

FEBRUARY 1, 2024

Cash Flow Chaos: 74% of mid-market and early-enterprise CFOs recognize that digitization of AP payment processes improves balance sheets. Fraud and Compliance Risk : A study by the ACFE found that 14% of fraud instances originated in accounting departments, with a median loss of $200,000 per instance.

Automation 64

Automation Accounts Process Multi-Currency 64

Nanonets

AUGUST 21, 2023

And the benefits are not limited to cost savings, accuracy, and efficiency — B2B payment automation can also improve supplier relationships, ensure compliance, avoid fines and penalties, and provide critical insights into cash flow and financial health. With the median processing cost between $2.01

B2B 52

B2B Automation Payment APIs and Integration Payments 52

Nanonets

MARCH 20, 2023

  The use of accounts payable software results in a 73% faster processing time. According to Goldman Sachs , the use of accounts payable automation software also results in 33% reduction in processing costs. Looking to automate your manual AP Processes?

Accounts 52

Accounts Payment APIs and Integration Multi-Currency Automation 52

Nanonets

NOVEMBER 15, 2023

Now consider this: roughly a third of businesses surveyed were able to reduce invoice processing costs even more: a whopping 50%. It minimizes human error and bolsters compliance. Additionally, the invoices must be matched with the corresponding purchase orders and goods receipts to avoid duplicate invoices, fraud, and errors.

Accounts 52

Accounts Payment APIs and Integration Audit Automation 52

Nanonets

OCTOBER 1, 2024

The aim is to ensure accuracy and prevent errors or fraud before payment processing. Compliance check AP specialists verify adherence to company policies and regulatory requirements. This significant difference in processing time highlights the impact of efficient validation processes and exception handling.

Best Practices 40

Best Practices Automation Multi-Currency Duplicate 40

Nanonets

JUNE 14, 2024

Multiple levels of approval, unclear approval hierarchies, and delayed responses can slow down the procurement process, affecting overall productivity and operational efficiency. However, managing compliance manually can be challenging, leading to potential breaches, penalties, and reputational damage.

P2P 52

P2P Process Automation Checks 52

Nanonets

JUNE 19, 2024

Streamlined Purchasing Process : With a PO system in place, the purchasing process becomes more structured and efficient. This reduces the risk of errors, such as duplicate orders or incorrect quantities. Compliance and Audit Trail : Small businesses are often subject to audits and regulatory requirements.

Small Business 52

Small Business Automation P2P Audit 52

Nanonets

MARCH 14, 2024

Financial Control: It enhances financial control and reduces the risk of errors or fraud in the accounts payable process. Compliance: It ensures compliance with internal procurement policies and external regulations, minimizing financial risks and audit issues. How to automate 2-way matching?

Payment APIs and Integration 52

Payment APIs and Integration Automation Correspondent Checks 52

EBizCharge

MAY 14, 2024

These benefits include time efficiency, improved accuracy, enhanced customer service, scalability, cost savings, regulatory compliance, insights and analytics, and integration with other systems. This reduction in labor costs translates into direct savings for businesses, as fewer resources are required to manage billing operations.

Automation 52

Automation Payment APIs and Integration Best Practices Online and Mobile Banking 52

Nanonets

OCTOBER 18, 2024

5 Tipalti Midmarket + Enterprise Global payments automation with tax compliance 4.5/5 5 AvidXchange Midmarket + Enterprise Paperless processing with extensive system compatibility 4.3/5 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

FEBRUARY 26, 2024

Regulatory Compliance: Adhering to the terms of accounts payable helps in complying with financial regulations and avoiding penalties associated with late payments or financial misreporting. Cash Flow Chaos:  74% of mid-market and early-enterprise CFOs recognize that digitization of AP payment processes improves balance sheets.

Automation 52

Automation Accounts Payment APIs and Integration Process 52

Nanonets

JUNE 27, 2023

Organizations with higher labor costs will have higher average costs per invoice. Exception Handling: Dealing with invoice exceptions, such as errors, discrepancies, or missing information, increases the processing cost. It performs checks for duplicate invoices, missing information, and compliance with predefined rules.

Process 52

Process Automation Electronic Funds Transfer (EFT) Volume 52

Nanonets

SEPTEMBER 21, 2023

Benefits of AP Automation Examples Enhanced Efficiency Automated   invoice processing   reduces manual tasks and accelerates payment cycles. Cost Savings Streamlined processes lead to reduced processing costs and potential for early payment discounts.

Accounts 40

Accounts Best Practices Automation Reconciliation 40

Nanonets

APRIL 7, 2025

Healthcare data extraction systems capture and extract crucial information from a variety of healthcare documents—patient records, insurance forms, lab results, billing information, regulatory compliance documents, and more. The extracted data is processed and neatly organized into structured formats. The result?

Automation 52

Automation Regulatory Compliance Compliance Payment APIs and Integration 52