PYMNTS

NOVEMBER 4, 2020

Even with the digitization of the invoice, fraud remains a rampant problem, and it's not only the buy-side of the B2B equation faced with the consequences. Deepfake technology means criminals can masquerade their own voices to convince unwitting employees to approve an invoice for payment, for instance. It's just inefficient.".

Invoicing 90

Invoicing Auditing B2B Accounts Payable 90

PYMNTS

JULY 3, 2020

Accounts payable (AP) teams and other financial functions of the enterprise were some of the hardest hit by the disruption caused by the global pandemic. Collaborating with FinTechs is a valuable strategy for banks, noted Sigovitch. ” Offering the Right Tools.

Accounts Payable 85

Accounts Payable Accounting Banking Invoicing 85

PYMNTS

NOVEMBER 25, 2020

Companies long-used to sending and receiving paper invoices and checks are finding that digital methods can deliver funds and billing information at a far faster clip. This could mean adopting new accounts payable (AP), accounts receivable (AR) and other treasury strategies and technologies, for example. About The Report.

Invoicing 95

Invoicing Accounts Payable B2B CFO 95

PYMNTS

SEPTEMBER 17, 2020

Cloud-based clearing bank ClearBank has begun offering multi-currency bank accounts using an API, according to a press release. Beginning in the fourth quarter this year, the bank will allow users to access over 30 multi-currency accounts. ClearBank's capabilities make it doable for Oxbury Bank to loop into U.K.-based

Currencies 64

Currencies Accounting Banking Foreign Exchange 64

Future CFO

JANUARY 22, 2024

The accounting industry is undergoing profound transformation due to rapid technological advancements across all sectors in the market. Changes from manual record-keeping to sophisticated software solutions has undeniably shifted the accounting landscape, bringing in an era of heightened efficiency and accuracy.

Accounting 52

Accounting Reconciliations Financial Analysis Financial Data 52

Future CFO

AUGUST 14, 2024

AP (Accounts Payable) automation empowers organisations to regain control over their finances by automating tedious manual tasks that burn through staff time, such as line-item matching for invoices, payment reviews, and approvals, Sanford says. "By

Accounts Payable 52

Accounts Payable Accounting Finance Invoicing 52

The Charity CFO

MARCH 6, 2024

The conversation today has a very simple focus, 5 red flags that your nonprofit accounting needs improvement, even when it may not be recognized. Red Flag #1: Bank Account Reconciliation Whether the business is accrual or cash basis, it does not matter. Consider it like an internal audit and a necessity.

Nonprofit 59

Nonprofit Accounting Reconciliations Invoicing 59

CFO Simplified

JULY 24, 2022

How Does a Fractional CFO Work with a Remote Accounting Team? But even with all of those changes, the accounting function has remained essentially the same. So, in a remote environment, which we’re all used to by now, how does a fractional CFO work with a remote accounting team? Managing a Remote Accounting Team.

Accounting 96

Accounting CFO Invoicing Manufacturing 96

PYMNTS

NOVEMBER 3, 2020

The company has connected its SecurePay payment gateway solution within the accounting platform, allowing for SMBs to generate invoices and receive payment without having to leave QuickBooks. The OLB Group is looking to further speed up B2B payments with the eventual addition of same-day funding capabilities, Yakov said.

Invoicing 60

Invoicing B2B Accounts Payable eCommerce 60

PYMNTS

AUGUST 2, 2018

Accounts receivable (AR) management solutions provider Invoiced has enhanced its platform through a partnership with U.K.-based The company announced in a press release Wednesday (August 1) that its collaboration with GoCardless enables businesses to support direct debit payments when they invoice their customers.

Invoicing 40

Invoicing Accounting Reconciliations Currencies 40

PYMNTS

AUGUST 17, 2020

Balancing the books, sending out invoices and keeping the cash rolling in can be thankless but vital tasks for small business owners. In a push to bring in more small business accounts, TD Bank is launching a new online payment and accounting feature on its online platform for small businesses. 17) press release.

Accounting 70

Accounting Invoicing Banking Technology 70

PYMNTS

JANUARY 10, 2019

challenger bank Countingup is adding invoicing services to its suite of offerings for small and medium-sized businesses (SMBs), the company announced Wednesday (Jan. When the challenger bank launched, Fouracre also highlighted the struggles of sole traders in particular when it comes to managing the finances of their businesses.

Invoicing 66

Invoicing Finance Banking Accounting 66

PYMNTS

NOVEMBER 7, 2018

financial institution owned by RBS, has launched a mobile app-only small business bank account, according to reports on Tuesday (Nov. Asset Finance International has reported the launch of Mettle, the digital bank account for SMBs. NatWest, the U.K. ” The solution is currently in pilot phase, reports said. .

Accounting 63

Accounting Banking Invoicing Forecasting 63

PYMNTS

OCTOBER 19, 2018

Even the mightiest of tech firms are not immune to invoice fraud. The site noted that, among the alleged fraudulent actions, Tran stands accused of sending two fraudulent invoices to Microsoft, and those invoices were sent to the company from other vendors. Blockchain For Invoices. million from the company.

Invoicing 61

Invoicing Finance Communication Accounting 61

PYMNTS

NOVEMBER 16, 2020

Fast-growing payments automation firm Transcard is rolling out an account-to-account (A2A) solution that it says will boost the speed and efficiency with which buyers and sellers are able to exchange money and data, while reducing risk as well. 16) press release issued by the Chattanooga, Tenn. based company.

Accounting 69

Accounting Invoicing B2B Banking 69

The Charity CFO

APRIL 5, 2022

If you’re like many people, you probably think that there is a single set of accounting rules that every company must follow. . But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting.

Nonprofit 98

Nonprofit Accounting GAAP Auditing 98

PYMNTS

JANUARY 22, 2021

Today in B2B payments, TripActions announces new funding that values the T&E startup at $5 billion, while OneSource Virtual launches invoice payment capabilities. Plus, iBanFirst launches B2B payment traceability tool, Georges rebrands with new funding, and HashCash partners with a bank on blockchain payments. 21) announcement.

Invoicing 66

Invoicing B2B Reconciliations Valuation 66

CFO Share

DECEMBER 14, 2022

What is accounts payable ? What is accounts payable? Accounts payable is short-term obligations (aka bills) due to vendors for services or goods received. AP statements are a standard report out of all accounting systems. What are examples of accounts payable? What is the accounts payable process?

Accounts Payable 52

Accounts Payable Accounting Invoicing Education 52

PYMNTS

JULY 1, 2020

B2B payments account for $25 trillion in the United States each year, but these transactions are often fraught with frustrations and challenges. Studies have found that B2B invoices take an average of 37.4 Banks in the EU currently spend between 50 million euros ($56.2 million) on average each year on open banking investments.

Banking 114

Banking B2B Invoicing Budgeting 114

PYMNTS

FEBRUARY 3, 2020

Daya Shankar Kushwaha was arrested by tax officers in New Delhi for allegedly using fake invoices worth over Rs 1,200 crore to get tax benefits, according to reports on Monday (Feb. Fake invoices were issued to buyers, who avail the fraudulent input tax credit without actually receiving any goods.

Invoicing 52

Invoicing B2B Banking Securities 52

PYMNTS

JUNE 25, 2020

the British financial technology company headquartered in London, has added American Express to its open banking platform. The feature allows customers in the United Kingdom to connect their American Express accounts to Revolut , allowing them to see their balances and transactions in a single app. Revolut Ltd.,

Banking 123

Banking Invoicing Budgeting Accounting 123

PYMNTS

DECEMBER 10, 2020

Increasingly, FinTechs and the businesses they serve are pulling double duty with solutions that tackle both accounts receivable and accounts payable friction for each end of the B2B transaction. Digitizing and modernizing B2B payments cannot be a one-sided effort. ImagineTime Talks Easing The Digital B2B Payments Migration.

Accounts Payable 60

Accounts Payable Accounting B2B Invoicing 60

CFO Talks

OCTOBER 3, 2024

Cash Handling Issues : Missing deposits, discrepancies between sales records and bank deposits, or unauthorised cash disbursements are red flags. Aggressive Accounting Practices : Look out for unusual accounting entries, round-number transactions, or complex journal entries that lack clear justification.

Invoicing 98

Invoicing Auditing Benchmarking Reconciliations 98

PYMNTS

JULY 3, 2020

Open banking is shaking up the financial industry and is poised to revolutionize the way banks share data with each other as well as with third-party app developers, FinTechs and payment providers. There are a multitude of benefits that open banking brings to B2B payments. Open Banking Initiatives Around The World.

B2B 111

B2B Banking Invoicing Reconciliations 111

PYMNTS

FEBRUARY 28, 2020

Purchase, invoice and transaction data are invaluable to the journey of digitization and automation, but organizations are increasingly recognizing that the value can only be realized if that data can integrate seamlessly across platforms. Going Further With Open Banking. Cichy said he sees the opposite happening today, though.

Accounts Payable 83

Accounts Payable Banking Invoicing B2B 83

PYMNTS

MAY 7, 2020

Risk management and payment technology provider linked2pay has debuted a new service, CustomerConnect, that is intended to cut down on late invoice payments, according to a press release. A total of 52 percent of invoices issued in the U.S. A total of 52 percent of invoices issued in the U.S.

Invoicing 60

Invoicing Risk Management B2B Accounting 60

PYMNTS

SEPTEMBER 15, 2020

Emerging markets have their own challenges when it comes to banking, where big, traditional financial institutions (FIs) are anything but efficient. Consider the fact that in Mexico it can take four to six months to open a business account — and as much as a year to get access to a debit card. Widening Debit’s Acceptance.

Banking 103

Banking Invoicing Accounting Leverage 103

The Finance Weekly

MAY 20, 2024

What Is Bank Reconciliation? Bank reconciliation is a process companies use to ensure that their recorded cash balances align with the actual cash held in their bank accounts. Nevertheless, banks still manage most business accounts, and the same reconciliation procedures can be applied to these other cash positions.

Reconciliations 52

Reconciliations Banking General Ledger Accounting 52

PYMNTS

MARCH 24, 2020

FinTech Amaiz , promoting its bookkeeping and banking services app, found in a survey that roughly one-third of micro businesses have trouble with payments, according to a press release. billion pounds ($1 million to $2 million) annually by forgetting to invoice. “We The survey was conducted by 3Gem in February. Amaiz found that 34.6

Invoicing 69

Invoicing Accounting Numbers Banking 69

PYMNTS

NOVEMBER 20, 2019

Citi noted traditional methods of cross-border accounts receivable are inefficient, involving multiple collections service providers with silos between invoicing, collection and reconciliation. Earlier this year Citi said it would be preparing for an uptick in corporate banking operations despite concerns about an economic slowdown.

Accounting 83

Accounting Reconciliations Invoicing Currencies 83

PYMNTS

OCTOBER 15, 2020

British banking platform Tide announced that it has teamed with GoCardless to roll out a service that will let members accept invoice payments through Direct Debit. In June, news surfaced that GoCardless had teamed with predictive accounts receivable (AR) automation platform YayPay. 15) announcement.

Invoicing 56

Invoicing Economics Accounting Banking 56

CFO Share

JULY 19, 2023

The biggest challenges facing accounts payable are chaos, maintenance cost, and fraud. Bring order to Accounts Payable. Accounts payable is a non-revenue-generating expense which best in class businesses minimize. Minimize fraud risk Accounts payable is the number one source of fraud in small businesses.

Accounts Payable 52

Accounts Payable Accounting Auditing Invoicing 52

PYMNTS

NOVEMBER 13, 2018

An application program interface (API) ecosystem is growing to transform the financial services (FinServ) sector, and small business (SMB) banking won’t be left out of the shift. APIs offer third-party FinTech firms new opportunities to make use of valuable data stored within traditional bank accounts. In the U.S.,

Cash Flow Forecasting 73

Cash Flow Forecasting Accounting Banking Forecasting 73

PYMNTS

SEPTEMBER 5, 2019

French startup Upflow , a company that wants to streamline the invoicing process for companies, help them stay organized and ensure they get paid on time, has raised $2.7 Many companies have relied on Excel spreadsheets to keep track of invoicing information, and Upflow has created a proprietary system to improve on that.

Invoicing 43

Invoicing Startups Accounting Banking 43

PYMNTS

NOVEMBER 10, 2020

Bank has rolled out its new AP Optimizer, which is a digital tool that works to simplify invoice processing and payments for businesses, according to a press release. Bank, according to the release. Digital invoicing has become popular throughout the pandemic, with WEX Inc. With AP Optimizer, the release stated, U.S.

Accounts Payable 80

Accounts Payable Banking Invoicing Treasury 80

PYMNTS

MARCH 26, 2020

Growing awareness of the cash flow pain caused by late B2B payments has led to increased calls to incentivize, and in some cases even mandate that larger corporates accelerate their invoice payment processes when working with small suppliers. In all, more than one-third of businesses surveyed admitted to this slip-up.

B2B 72

B2B Accounting Invoicing Accounts Payable 72

PYMNTS

APRIL 23, 2020

Unfortunately, independent contractors have also frequently been left out of the picture for traditional banks and even newer FinTechs despite the recent influx of small business cloud accounting apps and other B2B FinTech platforms. Accounts payable is the money you owe your suppliers. Open Banking’s Impact.

Accounting 56

Accounting Accounts Payable Invoicing Cash Management 56