The Payments Association

MAY 16, 2025

The regulatory framework governing payments continues to expand in scope, with increasing implications for merchants operating in the UK and EU. Merchants continue to face elevated abandonment rates, soft declines, and disputes linked to poor SCA execution, particularly for recurring transactions, mobile checkout, and low-value exemptions.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

Nanonets

SEPTEMBER 25, 2024

Monitor extraction accuracy and implement feedback loops to improve the process continuously. Set up rule-based workflows to identify and remove any duplicate entries and human review for complex or ambiguous transactions. Reconciliation This step involves matching the extracted data with the company’s internal records.

Process 52

Process AI Best Practices Reconciliation 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

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.

Reconciliation 52

Reconciliation Accounts Automation Credit Cards 52

Nanonets

NOVEMBER 15, 2023

Prevention of Duplicate Invoicing and Invoice Fraud : PO Flip also serves as a powerful tool against invoice fraud and duplications. Since invoices are generated directly from the purchase orders, there's a single source of truth, reducing the chances of duplicate or fraudulent invoices being processed.

Duplicate 52

Duplicate Automation Process Facilitators 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

MARCH 30, 2023

Greater levels of accuracy Automating payment processing enhances accuracy by validating invoice data against ERP or accounting systems, eliminating manual processes and paper handoffs that cause errors, and flagging duplicate invoices. Some technology providers guarantee accuracy.

Automation 52

Automation Transactions Wire Transfer ACH 52

Nanonets

APRIL 16, 2023

Errors at the start of the invoice processing workflow can snowball into serious outcomes such as over-payment, incorrect payments, invoice duplication, etc. A 2020 survey by Levvel Research showed that manual data entry and inefficiency continue to be the pain points in the accounts payable process.

Automation 52

Automation AI Duplicate Accounts 52

Nanonets

APRIL 12, 2024

Accountants compare the entries in the general ledger with the corresponding figures in subsidiary ledgers, journals, and other internal records. Continuous Improvement : Nanonets uses machine learning algorithms to continuously learn from past reconciliation activities and improve its accuracy and performance over time.

Reconciliation 52

Reconciliation Payroll Automation Checks 52

Nanonets

MARCH 4, 2024

fostering a culture that values transparency, accountability, and continuous improvement. Duplicate Claims Employees submitting the same expense for reimbursement more than once. Here's how it transformed their process: Duplicate Claims Prevention:  The software now automatically flags duplicate entries.

Process 52

Process Compliance Automation Audit 52

Nanonets

NOVEMBER 14, 2023

Benefits of AP Automation By adopting modern AP automation tools, organizations position themselves to keep pace with digitization and continually improve their functioning over time, regardless of where they currently are in their digitization and AP journey.

Accounts 52

Accounts Automation Fraud Prevention Compliance 52

Nanonets

JULY 14, 2023

Information Extraction - once the Process of OCR is complete it’s important to identify which piece of text corresponds to which extracted field. This number is most of the time going to increase due to the duplication of invoices. If a field is the total, subtotal, date of invoice, vendor etc. Have an OCR problem in mind?

Automation 98

Automation Process Payment APIs and Integration Database 98

Nanonets

JUNE 27, 2023

This involves extracting relevant information such as invoice number, vendor details, invoice date, line item details, and corresponding amounts. Reconciliation : Once the invoice is approved, it needs to be reconciled with the corresponding financial records and account balances.

Process 52

Process Automation Electronic Funds Transfer (EFT) Volume 52

Nanonets

NOVEMBER 15, 2023

Additionally, the invoices must be matched with the corresponding purchase orders and goods receipts to avoid duplicate invoices, fraud, and errors. Paperless systems can also automatically record each payment and its corresponding invoice and vendor details.

Accounts 52

Accounts Payment APIs and Integration Audit Automation 52

PYMNTS

MAY 13, 2016

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. They allow us not to have to deal with shipping internationally, all the forms we have to fill, duplicate, triplicate, whatever needs to be done.

Cross-Border 40

Cross-Border Cross-Border Payments Duplicate Correspondent 40

Nanonets

JANUARY 17, 2024

This continual scrutiny not only safeguards against financial mismanagement but also reinforces a culture of accountability. Monitoring and Feedback Continuous monitoring isn't about playing 'big brother'; it's about providing ongoing support and ensuring the system works as intended.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation Audit 52

Nanonets

AUGUST 8, 2024

Semantic annotation: Linking words or phrases to their corresponding meanings or concepts. It's important to note that data annotation is often an iterative process, with continuous refinement based on model performance and evolving project needs. Now, as many as twenty dots can be placed on the lips alone.

AI 52

AI Automation Process Best Practices 52

Nanonets

SEPTEMBER 22, 2023

By effectively managing trade payables, businesses can maintain a positive cash flow and ensure the continuous availability of inventory or services. Each supplier has an invoice number, a payment due date, and the corresponding amount owed. Additionally, managing trade payables helps in fostering strong vendor relationships.

Automation 40

Automation Accounts Risk Process 40

Nanonets

MARCH 28, 2024

Intelligent receipt matching: Uses advanced algorithms to match receipts to the corresponding transactions automatically. It should have advanced features like duplicate invoice detection and 3-way matching to help prevent errors and fraud, ensuring your AP process remains compliant and secure.

Payment APIs and Integration 52

Payment APIs and Integration Automation AI Treasury Management 52

Nanonets

SEPTEMBER 21, 2023

As businesses continue to digitalize their operations, electronic invoicing remains a valuable tool for streamlining processes, maintaining  accurate records , and providing a positive customer experience. Invoices serve as vital evidence of the goods or services received and the corresponding payment obligations.

Audit 40

Audit Legal Accounts Transactions 40

PYMNTS

APRIL 24, 2018

If customers are duplicating passwords across merchants, that’s a problem. Fraud teams scrutinizing orders made with these details will encounter an actual person with a corresponding digital footprint, which will tip the scale to approve such orders, despite the fact that they are fraudulent.

Breach 50

Breach Bots Credential Data Breach 50

PYMNTS

JUNE 29, 2020

The timing of the data of when a discount should be eligible simply does not correspond with when the title changes (i.e. The healthcare industry has been trying to do this for 30 years, and we continue to struggle,” said Docken. Patients get billions of dollars in drug discounts.

API 86

API Payer Payment APIs and Integration Point-of-Sale (POS) 86

FICO

MAY 22, 2017

Depending on how you read it, and when you weed out items that are either duplicative or definitional, you get down to 12-15 “action items” for agencies and departments. ESS enumerates many categories of known vulnerabilities, and associates them with corresponding risks through scores and reason codes.

Cybersecurity 45

Cybersecurity Risk Assessment Assessments Risk 45

Nanonets

APRIL 7, 2025

Handling unstructured data Much of healthcare data is unstructured, including physician notes, patient narratives, administrative correspondence, and imaging reports. Regular audits and continuous improvement processes are essential to ensure the tool's accuracy and reliability over time. Next, focus on your team and processes.

Automation 52

Automation Regulatory Compliance Compliance Payment APIs and Integration 52