Bramasol

JUNE 25, 2024

However, amidst the ever-expanding role of the Office of the CFO, accounting still is a major responsibility and this arena also is radically changing with the availability of new tools, technologies and challenges. These capabilities address key operational accounting issues as companies transform their business offerings.

Compliance 56

Compliance Financial Planning and Analysis (FP&A) Accounting SAP 56

PYMNTS

FEBRUARY 1, 2021

It’s not that automating invoice generation, banishing checks, automating the cash application process and systematically removing all the manual touches from accounts payable (AP) and accounts receivable (AR) workflows weren’t unknown concepts among chief financial officers (CFOs) and treasury departments at the time.

B2B 94

B2B Treasury Accounts Payable Cash Management 94

PYMNTS

MARCH 2, 2020

As innovators drive forward, however, they can sometimes forget who’s really at the user-end of their technologies designed to combat business payments pain: the accountant. In the current fast-moving climate, accountants have struggled with the manual processes involved with managing their business client’s funds,” he told PYMNTS. “In

Accounting 56

Accounting Reconciliations Profit and Loss B2B 56

CFO Simplified

NOVEMBER 21, 2022

So why not set up a petty cash account with a small amount of money that can be used for things like running to the hardware store or office supply store? The important thing is to keep track of all the expenses associated with the account. What is Petty Cash? – and that all expenses are accounted for.

General Ledger 98

General Ledger Reconciliations CFO Accounting 98

PYMNTS

MARCH 16, 2018

Australia’s Institute of Public Accountants (IPA) is urging its members to “future-proof” their businesses as the industry heads toward disruption. Further, industry trends have led the traditional accountant model to become “obsolete,” reports said, meaning accountants have to embrace the more strategic role of advisor. “By

Accounting 53

Accounting Accounts Payable Reconciliations Leadership 53

PYMNTS

MARCH 18, 2020

With so many processes still based on paper, accounts receivable (AR) departments within organizations that are less advanced in their digitization journeys are facing added friction as workers are sent home. Lockbox Data Headaches. The B2B arena certainly continues to see a high prevalence of paper checks in the U.S.

Reconciliations 80

Reconciliations Invoicing Communication B2B 80

PYMNTS

JULY 2, 2020

Often at the center of this initiative is the accounts payable (AP) department — and unsurprisingly for these volatile times, the strategy can turn toward lengthening the days payable outstanding (DPO). “On the buyer side, utilizing cards and shifting away from checks, wire and ACH provides a new credit instrument.”

Economics 104

Economics Accounts Payable B2B Reconciliations 104

Global Finance

SEPTEMBER 9, 2024

And while the latest tools of the trade—artificial intelligence (AI) and machine learning (ML)—promise to make tasks such as liquidity forecasting, cash management, and risk management easier, they come with their own complications and tie the treasury team even more closely into management’s strategic planning.

Treasury 82

Treasury Cash Flow Forecasting Forecasting Cash Management 82

PYMNTS

AUGUST 6, 2018

Two accounts receivable companies, REPAY Realtime Electronic Payments and InterProse, are integrating their perspective technologies to enhance accounts receivable (AR) services for joint customers. Last year, REPAY enhanced its accounts receivable offering through the acquisition of PaidSuite, another payments player in AR management.

Accounting 40

Accounting Reconciliations Invoicing Cash Management 40

PYMNTS

JUNE 22, 2016

In B2B payments, accounts payable automation is a hot topic, as are the challenges AP professionals face when it comes to paying suppliers and managing the data from those transactions. But a new report from Corcentric , written by the Institute of Finance & Management (IOFM), details the hurdles on the other side of the payment.

Accounting 42

Accounting Invoicing Reconciliations Accounts Payable 42

Future CFO

APRIL 7, 2022

He comments that most accounting graduates have more exposure to Excel than finance-related software solutions through their college education), lethargy to pick up new technologies, and sometimes difficulty in getting approval for finance technology investment. banking fees). banking fees).

Finance 98

Finance SAP Cash Management Invoicing 98

PYMNTS

NOVEMBER 7, 2017

Citi’s Treasury and Trade Solutions is bringing its accounts receivable (AR) Payer ID solution to more markets around the globe. The accounts receivable solution enables companies to gain visibility into incoming payments for greater working capital management, Citi explained.

Reconciliations 48

Reconciliations Treasury B2B Cash Management 48

PYMNTS

OCTOBER 17, 2017

17), Visa said it is tackling that issue through a new partnership with accounts receivable (AR) and cash management company Billtrust. When it comes to growth of virtual corporate card payments, we have seen and built a lot of momentum on the accounts payable side,” Hall said. “We In an announcement on Tuesday (Oct.

Reconciliations 47

Reconciliations Accounts Payable B2B Cash Management 47

PYMNTS

NOVEMBER 26, 2020

These longstanding frustrations have recently become more concerning for both parties, however, as the COVID-19 pandemic has made paycheck speed more essential for businesses’ cash flow reconciliation and employees’ bill-paying needs. Meeting accelerating expectations in real time . What is the difference?

Cash Management 75

Cash Management Reconciliations Economics Budgeting 75

Simply Treasury

JUNE 3, 2021

Then come the multiple banking relationships, the too large number of bank accounts, the lack of sufficient resources (a recurring problem - but one that drives automation), the lack of support from subsidiaries, the lack of budget (classic in times of crisis).

Cash Flow Forecasting 130

Cash Flow Forecasting Treasury Forecasting Foreign Exchange 130

PYMNTS

JANUARY 26, 2017

“Processing corporate payments as peer-to-peer, directly on blockchains, gives for instant settlement and, therefore, real-time reconciliation and accounting,” the company said. Real-time payments and reconciliation, the company added, could be a major boost to corporate cash management efforts, too.

SAP 57

SAP Invoicing Reconciliations B2B 57

PYMNTS

MARCH 6, 2019

One area where elimination of such processes can be of benefit is treasury management — specifically, reconciliation of transactions and liquidity management. Within that ambition, he said, “the only way to create real-time cash management or trading is to allow all parties to see the same pool of validated data.”.

Treasury 75

Treasury Auditing Foreign Exchange Pharmaceutical 75

PYMNTS

FEBRUARY 1, 2021

Although the purpose of digitization in the finance department is, in many cases, to strengthen cash management, the effect of so many siloed systems can actually be quite different. As Berghald explained, that’s because each critical function — from invoicing to payment to accounting — all occur separately from each other.

Finance 82

Finance Invoicing Reconciliations Prioritization 82

PYMNTS

MARCH 27, 2019

Accounts payable (AP) automation company Tipalti is expanding its reach into the market by partnering with three new B2B companies, which will extend Tipalti’s solutions to their own customers. The enhanced integration aims to strengthen control and communication for both ends of the transaction.

B2B 46

B2B Accounts Payable Reconciliations Cash Management 46

CFO Leadership

MARCH 31, 2022

They struggle to keep an overview on their cash and risk positions. A professional cash management solution can help to overcome these challenges. In the dark about global cash? Using simple tools, such as spreadsheets , or disparate solutions to manage complex operations leads to inefficiencies and errors.

Treasury 52

Treasury Cash Management Currencies Reconciliations 52

PYMNTS

SEPTEMBER 17, 2019

SMBs using the WePay platform can now see funds deposited into their Chase bank accounts the same day without extra fees, a feature resulting from JPMorgan ’s acquisition of WePay in late-2017. JPMorgan Chase announced a collaboration with WePay last week to enable faster deposits for small business joint customers.

Accounts Payable 43

Accounts Payable B2B Accounting Invoicing 43

PYMNTS

APRIL 14, 2020

In an interview with Karen Webster, Sairam Rangachari, global head of Digital Channels and Open Banking, Wholesale Payments at JPMorgan , said treasurers seeking to gain visibility into cash management can find application programming interfaces (APIs) to be a useful (and even critical) tool. Age And Complexity.

Cash Flow Forecasting 92

Cash Flow Forecasting Treasury Foreign Exchange Benchmarking 92

PYMNTS

AUGUST 25, 2016

ING Wholesale Banking has announced a new solution aimed at corporate treasurers in need of managing cash across borders. Dubbed Virtual Cash Management (VCM), the solution, announced on Wednesday (Aug. Virtual bank accounts provide a streamlined way to manage treasury, the company added, through a single digital portal.

Treasury 40

Treasury Concentration Cash Management Reconciliations 40

Future CFO

JULY 19, 2021

But the challenges we have faced in the past 12-18 months have received great focus and highlighted the need for good accounts receivable and credit management now. CFOs are reconsidering the cash management process. Intelligent automation of cash application. Intelligent automation of cash application.

Cash Management 52

Cash Management Reconciliations Treasury Sales 52

PYMNTS

OCTOBER 22, 2019

Santander said the tool automates payment processing both locally and abroad to support straight through processing, while also connecting corporates to cash flow visibility via its information center, portal and mobile app.

Treasury 40

Treasury Reconciliations Cash Management Banking 40

PYMNTS

MARCH 23, 2017

Receivable Savvy, an accounts receivable and order-to-cash management firm, wants suppliers to see Same Day ACH as an opportunity to bolster cash flow. Its 2017 Perceptions Study found that 80 percent of B2B supplies said their number one issue in accounts receivable is to receive payment faster.

B2B 54

B2B Invoicing Reconciliations Cash Management 54

PYMNTS

NOVEMBER 22, 2016

Researchers forecast mobile payments to account for $1 trillion in transactions next year. ” The Asia-Pacific region has also witnessed a migration away from cash, but it’s not just happening among consumers. The accounts receivable tool targets some of what Koh described as the deepest pain points in B2B payments today.

B2B 65

B2B B2C Vendor Management Reconciliations 65

PYMNTS

APRIL 12, 2016

Making sure the books add up properly is key to keeping their legal nonprofit status, and that means cash management is paramount. By designating a purchase amount and category, an accounts payable professional can safeguard against fraud or use of a virtual card for an unauthorized purchase. Not-For-Profit.

Nonprofit 40

Nonprofit Accounts Payable Reconciliations Cash Management 40

PYMNTS

DECEMBER 5, 2019

After all, money exits a company through more than one avenue, whether it be via the accounts payable department or a firm’s own employees. Understanding businesses’ biggest payment pain points requires a wide line of sight.

Accounts Payable 52

Accounts Payable B2B Problem Solving Nonprofit 52

PYMNTS

APRIL 3, 2020

Accounts payable (AP) automation technology presents an obvious benefit to companies of all sizes and industries to boost efficiency and strategize vendor payments. According to Vrishaketu, this is a common occurrence for organizations struggling to automate. ” From Onboarding to Compliance.

Accounts Payable 52

Accounts Payable Reconciliations Compliance Invoicing 52

CFO Simplified

APRIL 8, 2022

This person learns all the ins and outs of the accounting system and everything else about the business. Also, although the company was profitable, it wasn’t building any cash balances. Significant Findings and Recommendations: Internal Controls – Cash Operations. The office manager controlled the company’s financial operations.

Accounts Payable 52

Accounts Payable Cash Flow Forecasting Reconciliations Forecasting 52

PYMNTS

AUGUST 5, 2019

. “We are laser-focused on developing B2B payments solutions, products and services that enhance our clients’ ability to run their businesses with greater flexibility, utilize optimal payment modalities, and provide a single point of reconciliation with access to data in way they could not get before,” he said in a statement.

B2B 40

B2B Startups Securities Accounts Payable 40

PYMNTS

OCTOBER 31, 2019

In a recent interview with PYMNTS, Deluxe Corporation CEO Barry McCarthy, discussed the continued relevance and importance of the lockbox for corporates’ accounts receivable (AR) operations today. In a macro sense in accounts receivable, it’s this same challenge. “In In a macro sense in accounts receivable, it’s this same challenge.

Reconciliations 43

Reconciliations Invoicing B2B Treasury 43

PYMNTS

JANUARY 29, 2020

Another major hurdle unique to the purchase-to-pay space is the process’s deep touch points with an array of other back-office functions within the enterprise, including vendor management, product sourcing, accounts payable, accounting, inventory management, contract management, manufacturing and distribution, and more.

Banking 52

Banking Accounts Payable Vendor Management Reconciliations 52

PYMNTS

DECEMBER 30, 2016

Andy Brown, Marketing Director of Payments, NCR : “One challenge that will gradually be overcome in 2017 with the move to ISO 20022 is the availability of information with the payment transaction that will make reconciliation much easier. But this is going to grow in sophistication over time. It digitizes the paper check.”.

B2B 50

B2B Reconciliations eCommerce Banking 50

PYMNTS

NOVEMBER 15, 2019

Traditionally, the cost and administrative burden of card acceptance has kept the tool from gaining traction in accounts payable. But shifting priorities among buyers and suppliers have elevated the opportunity for cards to meet changing cash management needs. Bending the Card Rails.

B2B 53

B2B Accounts Payable Cash Management Reconciliations 53

BlueLight

JULY 16, 2020

In these conversations, I observed each finance leader had a different perspective and approach with their financial accounting partner. I caught up with Sandeep Shroff, Co-Founder and CEO of myStartUpCFO , an accounting firm that provides on-demand full-stack CFO services for startups. How do software tools fit into your operation?

Startups 52

Startups CFO Reconciliations General Ledger 52