The Payments Association

MAY 16, 2025

Key areas of impact include fraud prevention, card fee structures, accessibility standards, stablecoin usage, and the treatment of consumer data in evolving open finance ecosystems. The EAA aims to ensure that all consumers can navigate and use essential services without barriers. to 1.15% for debit and from 0.3% for credit.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

Nanonets

JUNE 22, 2023

By matching invoices with accounting entries in the general ledger, businesses can identify and rectify duplicate entries, errors, or extra payouts, keeping their books in proper balance. Cross-reference this information with the corresponding purchase orders and contracts to ensure consistency.

Reconciliation 52

Reconciliation Audit Automation Correspondent 52

Nanonets

MAY 7, 2024

By comparing these records, businesses can identify any discrepancies, such as missing or duplicate transactions, incorrect or false amounts, or any unauthorised expenses and transactions. Credit card reconciliation helps identify discrepancies such as fraudulent transactions, duplicate charges, or unauthorised expenses.

Reconciliation 52

Reconciliation Best Practices Credit Cards Compliance 52

Nanonets

MAY 10, 2023

By 3 way matching supporting documents, companies can detect duplicate, erroneous, or fraudulent payments to vendors. A 3 way match is an internal control process that cross-references a supplier's invoice against its corresponding purchase order (PO) and good received note (GRN). This is vital for managing spend and cash outflow.

Accounts 52

Accounts Automation Duplicate Process 52

Nanonets

SEPTEMBER 25, 2024

Traditional manual processing and reconciling, which consumes an average of 10-12 hours per week , is no longer an option. Set up rule-based workflows to identify and remove any duplicate entries and human review for complex or ambiguous transactions. Fully automate the reconciliation process , including import and data matching.

Process 52

Process AI Best Practices Reconciliation 52

Nanonets

JUNE 24, 2024

With disparate data sources and improper expense tracking, the accounting team can trace the proof of expenses across multiple data sources, which can be very time-consuming. The advanced transaction matching algorithms are capable of matching the credit card transactions with the corresponding entries in the accounting system.

Reconciliation 52

Reconciliation Credit Cards Correspondent Issuers 52

Clearly Payments

JUNE 12, 2024

Originating as a consumer protection mechanism, chargebacks were designed to ensure customers could dispute fraudulent or erroneous transactions. To dispute a chargeback, merchants need to gather relevant evidence such as transaction receipts, proof of delivery, and any correspondence with the customer.

Disputes 52

Disputes Card Issuer Acquirers Transactions 52

Nanonets

APRIL 15, 2024

Detects errors, omissions, and irregularities : By comparing each transaction in the bank statement with the corresponding entry in the company's records, bank reconciliation can catch discrepancies, errors, and omissions that may have occurred during the recording or transmission of financial data.

Reconciliation 52

Reconciliation Adjustments Checks Correspondent 52

Nanonets

APRIL 12, 2024

Invoices are a time-consuming hassle but a part of every business. Match the payment to the corresponding invoice, and the system will automatically update your financial records. It can capture data from the invoice and flag duplicate invoices.  Sage Intacct makes the entire process simple.

Automation 52

Automation Accounts AI Reconciliation 52

Nanonets

SEPTEMBER 22, 2023

This report provides a detailed overview of the current financial position by listing all accounts payable transactions and their corresponding balances. AP Trial Balance Reports Lists all accounts payable transactions and their corresponding balances, ensuring accuracy and accountability.

Accounts 40

Accounts Master Account Best Practices Reconciliation 40

Nanonets

APRIL 16, 2023

Invoice processing and PO matching are complex, time-consuming, and resource-intensive processes when performed manually, especially in scaled-up business activities. The unification of all these documents is time-consuming and error-prone when performed manually. MS-Word documents), data entry files (e.g.,

Automation 52

Automation AI Duplicate Accounts 52

Clearly Payments

JUNE 21, 2024

Credit cards have a strong value proposition of consumer protection. Duplicate Charges: The cardholder’s account was charged multiple times for the same transaction. Gathering Evidence: Documentation: Collect all transaction records, receipts, delivery confirmations, and any correspondence with the customer.

Disputes 52

Disputes Address Verification System (AVS) Credit Cards Best Practices 52

Nanonets

JUNE 27, 2023

Traditionally, manual invoice processing has been a time-consuming and resource-intensive task, leading to high costs of processing an invoice. These tasks can be time-consuming and prone to error, leading to inefficiencies and increased costs. Manual data entry can be time-consuming and error-prone, leading to delays and inaccuracies.

Process 52

Process Automation Electronic Funds Transfer (EFT) Volume 52

Nanonets

JUNE 18, 2024

Each balance should match its corresponding entry in the general ledger for any source. Steps in the Account Reconciliation Process The reconciliation process ensures each entry of the general ledger matches the corresponding external documentation. Each transaction must be matched manually, which is time-consuming and tedious.

Reconciliation 52

Reconciliation Accounts Automation Credit Cards 52

Nanonets

JULY 14, 2023

Among the several drawbacks of going through these procedures manually are higher costs, greater manpower requirement, a higher amount of time consumed in repetitive tasks and a greater carbon footprint. This number is most of the time going to increase due to the duplication of invoices. Want to automate invoice processing ?

Automation 98

Automation Process Payment APIs and Integration Database 98

Nanonets

MARCH 30, 2023

Common challenges include human error, time-consuming tasks, lack of transparency, security risks, and reduced productivity. Wire transfers can be expensive and time-consuming compared to other forms of payment automation, but they are also secure and reliable. Some technology providers guarantee accuracy.

Automation 52

Automation Transactions Wire Transfer ACH 52

Nanonets

APRIL 3, 2024

The virtual bookkeeper reconciles transactions recorded in the accounting software with corresponding bank statements to verify that all transactions are accounted for and correctly classified. Complex approval workflows, duplicate alerts and fraud detection. Top Features: All your expense data is in one place.

Automation 74

Automation Payment APIs and Integration Reconciliation Financial Analysis 74

Nanonets

NOVEMBER 14, 2023

  Traditional, manual methods for AP processing are not only time-consuming but also prone to errors and inefficiencies. Fraud Prevention and Compliance: Automated systems are equipped to identify discrepancies like duplicate invoices or unusual payment patterns, enhancing fraud prevention.

Accounts 52

Accounts Automation Fraud Prevention Compliance 52

Nanonets

FEBRUARY 13, 2024

However, as the company grew, the CFO, Alex Morgan, noticed several issues: Duplicate Claims:  Employees occasionally submitted the same expense twice due to lack of proper tracking. Here's how it transformed their process: Duplicate Claims Prevention:  The software now automatically flags duplicate entries.

Compliance 52

Compliance Non-Bank Automation Duplicate 52

Nanonets

NOVEMBER 15, 2023

This process is time-consuming, prone to errors, and delays vendor payments. Additionally, the invoices must be matched with the corresponding purchase orders and goods receipts to avoid duplicate invoices, fraud, and errors. This process is both time-consuming and error-prone.

Accounts 52

Accounts Payment APIs and Integration Audit Automation 52

Nanonets

MARCH 4, 2024

Duplicate Claims Employees submitting the same expense for reimbursement more than once. However, as the company grew, the CFO, Alex Morgan, noticed several issues: Duplicate Claims:  Employees occasionally submitted the same expense twice due to lack of proper tracking.

Process 52

Process Compliance Automation Audit 52

Nanonets

NOVEMBER 14, 2023

  Here are key advantages a document capture tool can bring to your business: Faster Processes: Manual processes, inherently time-consuming and error-prone, are significantly expedited with document capture tools. Document capture tools significantly reduce errors in the captured data, enhancing the reliability of business reports.

Automation 52

Automation Facilitators Audit Legal 52

PYMNTS

MAY 13, 2016

Once a consumer selects a country outside of a merchant’s home country, FedEx seamlessly takes over. Eventually, Rubio and his team decided they could not fix all of the issues alone – at least, not without spending a significant amount of time and corresponding payroll on them. So, there were a lot of issues.”.

Cross-Border 40

Cross-Border Cross-Border Payments Duplicate Correspondent 40

Nanonets

JANUARY 8, 2024

Here are the key benefits of bank reconciliation: Identify Accounting Errors: The cashbook may contain inaccuracies stemming from duplicate payments, missed payments, lost checks, and even simple human errors. Automate Bank Reconciliation Bank reconciliation is a time-consuming process with many manual steps.

Reconciliation 52

Reconciliation Process Adjustments Checks 52

Nanonets

JANUARY 8, 2024

Here are the key benefits of bank reconciliation: Identify Accounting Errors: The cashbook may contain inaccuracies stemming from duplicate payments, missed payments, lost checks, and even simple human errors. Automate Bank Reconciliation Bank reconciliation is a time-consuming process with many manual steps.

Reconciliation 52

Reconciliation Accounts Adjustments Checks 52

Nanonets

AUGUST 21, 2023

It extracts vital data like invoice number, date, supplier name, and amount due and matches it with corresponding purchase orders and contracts. Duplicate payments, incorrect amounts, and missed deadlines are just a few examples of the inaccuracies that can occur with manual processing. 

B2B 52

B2B Automation Payment APIs and Integration Payments 52

Nanonets

APRIL 4, 2023

By importing Excel data into MySQL, businesses can centralize and access it more efficiently, reducing the risk of data duplication and errors. For example, the import process may fail if a column in the Excel file is formatted as text, but the corresponding column in the MySQL table is defined as an integer. Try Nanonets for free.

Database 52

Database Automation Process Use Case 52

Nanonets

AUGUST 8, 2024

Semantic annotation: Linking words or phrases to their corresponding meanings or concepts. This approach is often more accurate and can handle complex or ambiguous cases, but it is also time-consuming and expensive. It is very time-consuming and less efficient.  Data annotation is tedious and time-consuming.

AI 52

AI Automation Process Best Practices 52

Nanonets

JUNE 29, 2023

But managing and tracking expenses manually can be time-consuming and prone to errors, leading to inefficiencies and financial discrepancies. Complex approval workflows, duplicate alerts and fraud detection Payment and reconciliation that works like magic. Expense management is a critical aspect of running a business efficiently.

Payment APIs and Integration 52

Payment APIs and Integration Automation Credit Cards Online and Mobile Banking 52

Nanonets

JANUARY 17, 2024

Manual Work is time-consuming and error-prone : An efficient expense management system simplifies processes, reduces manual tasks, and keeps your team focused on what they do best, not on filling out expense reports. Complex approval workflows, duplicate alerts and fraud detection Payment and reconciliation that works like magic.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation Audit 52

Nanonets

SEPTEMBER 22, 2023

By eliminating manual and time-consuming tasks, such as data entry and invoice approval, businesses can expedite the payment process and ensure timely settlement of trade payables. Each supplier has an invoice number, a payment due date, and the corresponding amount owed.

Automation 40

Automation Accounts Risk Process 40

Nanonets

SEPTEMBER 21, 2023

Traditional invoices require printing, mailing, and storing physical copies, which can consume substantial amounts of paper and contribute to environmental waste. Invoices serve as vital evidence of the goods or services received and the corresponding payment obligations.

Audit 40

Audit Legal Accounts Facilitators 40

PYMNTS

APRIL 24, 2018

First, these attacks can have a rolling effect: Once a fraudster gains access to a consumer’s credentials at one eCommerce merchant, he holds the key to a potential myriad of other digital stores at which to exploit them. If customers are duplicating passwords across merchants, that’s a problem.

Breach 50

Breach Bots Credential Data Breach 50

Nanonets

APRIL 7, 2025

This manual process is not only time-consuming but also prone to errors. Handling unstructured data Much of healthcare data is unstructured, including physician notes, patient narratives, administrative correspondence, and imaging reports. Data validation and syncing Export and sync your data with any system you use.

Automation 52

Automation Regulatory Compliance Compliance Payment APIs and Integration 52