Nanonets

SEPTEMBER 25, 2024

For businesses processing thousands of bank statements daily—from insurance companies to financial institutions, bank statement processing presents a challenge and an even bigger opportunity for automation. In this article, we’ll explore applications of AI and automation for bank statement processing.

Process 52

Process AI Best Practices Reconciliation 52

Nanonets

APRIL 16, 2023

PO Matching is the process of connecting a purchase order (PO) issued by a client indicating types, quantities, and agreed prices for products/services to the invoice issued by a vendor for it's delivery. The goal of PO matching is to ensure timely vendor payments, correct accounting of costs and easy detection of fraudulent practices.

Automation 52

Automation AI Duplicate Accounts 52

Nanonets

MARCH 20, 2023

  Originally considered a transactional back-office function, the AP process is now considered a hub for critical financial data processing. The AP process begins with the receipt of the invoice, passes through various levels of categorization, coding, data matching , and approvals, and ends with the payment of the invoice.

Accounts 52

Accounts Payment APIs and Integration Multi-Currency Automation 52

Nanonets

AUGUST 8, 2023

Companies outsource their business processes for a variety of reasons. Business Process Outsourcing (BPO) has become a vital strategic tool for many organizations. Source: TechTarget But with the increasing complexity and volume of business processes, the need for automation in BPO has become more apparent.

Automation 52

Automation Payroll Bots Payment APIs and Integration 52

Nanonets

MARCH 14, 2024

This verification process is called 2-way matching. Recap of the Procurement Process Before understanding 2-way matching, let’s quickly recap how procurement works in a business setting. Now that the invoice have been obtained, the matching process is performed by the accounts payable team at ABC. What is 2-way matching?

Payment APIs and Integration 52

Payment APIs and Integration Automation Correspondent Checks 52

Nanonets

APRIL 7, 2025

Automating healthcare data extraction can help organizations reduce operational spending and streamline their processes while improving patient care. The extracted data is processed and neatly organized into structured formats. This manual process is not only time-consuming but also prone to errors.

Automation 52

Automation Regulatory Compliance Compliance Payment APIs and Integration 52