PYMNTS

JANUARY 26, 2021

Usually, the auditing workflow involves looking at expense reports filed by employees, with a focus on identifying potentially erroneous or even fraudulent transactions. Digitizing and centralizing spend across various departments and workflows is the first step to enhancing the auditing process, said McCrossan.

Auditing 75

Auditing Invoicing Accounts Payable Compliance 75

PYMNTS

AUGUST 19, 2019

Firms auditing expenses through manual processes and outdated technologies risk missing the chance to flag erroneous or fraudulent submissions from vendors and employees. Deploying technology — especially artificial intelligence (AI) — can streamline the auditing process and boost cost savings significantly.

Auditing 56

Auditing Accounts Payable Invoicing Healthcare 56

CFO Share

MAY 31, 2023

Accounts payable is an annoyance at best, a disaster at worst. More and more businesses use accounts payable outsourcing as a solution to this problem. What to look for in an accounts payable company. How will you audit bookkeepers to ensure compliance with controls?

Accounts Payable 40

Accounts Payable Accounting Auditing Invoicing 40

PYMNTS

JUNE 1, 2016

Accounts payable departments can often buy their corporation a few more days without paying suppliers thanks to the age-old excuse: “The check’s in the mail.” “If the accounts payable process sounds ancient and arcane, add in the headaches of answering anxious vendor calls (‘the check’s in the mail!’),

Accounts Payable 40

Accounts Payable Accounting Invoicing Auditing 40

PYMNTS

OCTOBER 9, 2020

The valuation puts the accounts payable (AP) and mass payments company well into “unicorn” territory, meaning it is valued at over $1 billion. By helping firms scope appropriately sized audits and dynamically modify controls, Strike Graph seeks to take away the confusion around cybersecurity audit and certification procedures.

Compliance 107

Compliance Auditing Accounts Payable Valuation 107

PYMNTS

OCTOBER 6, 2020

The pandemic has upended supply chains, and upended accounts payable (AP) processes – requiring companies of all sizes and types to move toward digital (and high-tech-powered) means to transform back-office functions. And emails, he said, also do not serve as the best way to audit approval cycles.

Invoicing 93

Invoicing Accounts Payable Auditing Accounting 93

The Charity CFO

APRIL 5, 2022

Accrual accounts exist to track your accrual transactions and their balances, according to the type of transaction. Common accrual accounts include: . Accounts receivable. Accounts payable. Notes payable. What is the Cash Accounting Method? Which accounting method is more effective?

Nonprofit 98

Nonprofit Accounting GAAP Auditing 98

PYMNTS

SEPTEMBER 10, 2019

In a statement, Coatue Management Senior Managing Director Thomas Laffont said that artificial intelligence (AI) enables AppZen to deploy more sophisticated analytics and automation within its expense management solution, which allows businesses to assess expenses, automate expense report audits, and identify savings opportunities. “AI

Auditing 43

Auditing Accounts Payable Invoicing Compliance 43

PYMNTS

SEPTEMBER 24, 2020

Accounts payable (AP) teams are now taking a fresh look at the potential of tools such as virtual cards to ease their transaction frictions. The digital methods suit remote purchasing environments and offer security features that can make it difficult for fraudsters to use stolen card details.

Accounts Payable 107

Accounts Payable Construction B2B Pharmaceutical 107

PYMNTS

FEBRUARY 19, 2018

You could call accounts payable (AP) the last mile of payments in a way. These are firms that have failed audits or are about to fail audits. The other driver, he said, “is the ability to turn the accounts payable function into a revenue source.” Or perhaps AP stands for the last mile of automated processes?

Auditing 51

Auditing Accounts Payable Currencies Accounting 51

https://trustedcfosolutions.com/feed/

JULY 19, 2022

Scalability is crucial, and Sage Intacct puts you in a great position to drive growth by automating the complete range of primary and complex accounting processes so you can focus on analyzing your real-time business performance. Sage Intacct has completed SSAE 18 SOC 1 Type II, SOC 2 Type II, and ISO27001 audits.

Accounts Payable 113

Accounts Payable Auditing Accounting Securities 113

The Charity CFO

MAY 31, 2022

On the other hand, a poorly managed nonprofit will have little money in the bank, few other assets, an accumulation of debt with no clear plan to repay it, and a ballooning accounts payable balance. In most cases, these include an annual audit and federal tax return. Step #3: Understand what is required.

Nonprofit 98

Nonprofit Finance Auditing Accounts Payable 98

PYMNTS

APRIL 8, 2020

This stands in stark contrast to how the accounts payable (AP) departments at many businesses process payments. According to one recent study, enterprise-level firms were able to audit less than 10 percent of expense reports, potentially allowing dubious expenses to slip through the cracks.

Invoicing 89

Invoicing Accounts Payable Auditing Securities 89

The Charity CFO

JANUARY 17, 2022

But it also includes accounts payable (unpaid bills), credit card bills, outstanding payroll, and more. Unpaid bills (accounts payable). Accounts Payable. Accounts payable is an account containing any outstanding bills or invoices that you haven’t yet paid. Lines of credit. Net Assets.

Nonprofit 98

Nonprofit Accounting Profit and Loss Accounts Payable 98

PYMNTS

NOVEMBER 4, 2020

I'd be willing to be that any controller or CFO that doesn't have an automated auditing process is worried about it.". The company announced its formal launch last month as a technology provider designed to automate the invoice auditing process to combat fraud and errors for accounts payable personnel.

Invoicing 90

Invoicing Auditing B2B Accounts Payable 90

The Charity CFO

MAY 18, 2022

If your nonprofit requires an audit, the board should engage directly with the audit firm. Finally, the board should be aware of significant compliance requirements the nonprofit is subject to and ensure a system of accountability is in place. Review annual audit . Compliance. It’s very common.

Nonprofit 105

Nonprofit Auditing Compliance Budgeting 105

CFO Share

JULY 16, 2024

Controllers handle the operational side of financial management, ensuring that the day-to-day accounting functions are carried out accurately and efficiently. They regularly audit processes to maintain the integrity of financial operations.

Financial Planning and Analysis (FP&A) 98

Financial Planning and Analysis (FP&A) CFO General Ledger Compliance 98

CFO Share

MARCH 2, 2023

Accounts payable is the most common source of fraud in a small business. Both internal accountants and external hackers target weak AP processes to steal money since it is the business process most vulnerable to fraud. What are some of the common fraud attempts in accounts payable?

Invoicing 52

Invoicing Accounts Payable Auditing Education 52

PYMNTS

SEPTEMBER 3, 2020

This week's look at the convergence of accounts payable (AP) and accounts receivable (AR) explores how optimizing one side can have a positive effect on the other. Accounts receivable isn't the only way to improve the buyer-supplier relationship in the flow of B2B transactions. Basware Expands AP Partner Network.

Accounts Payable 78

Accounts Payable B2B SAP Accounting 78

PYMNTS

JANUARY 20, 2021

Manual invoicing is your worst enemy,” said Ramachandran, highlighting its risks and challenges related to fraud, errors and inefficient auditing. That provides for complete optimization of the supply, demand and cash flow aspects of accounts payable and accounts receivable systems — which allow for real-time, frictionless decision-making.”.

B2B 125

B2B Invoicing Prioritization Corporate Finance 125

PYMNTS

FEBRUARY 24, 2020

Financial automation and data intelligence solutions firm Glantus has acquired the audit credit recovery firm JPD Financial , creating a business with an approximate $12 million turnover, Glantus announced on Monday (Feb. The firm also offers accounts payable auditing and master data cleansing. .

Accounts Payable 52

Accounts Payable Auditing B2B Accounting 52

PYMNTS

JUNE 15, 2017

The company added that the integration of these capabilities into its offering is part of a broader effort to innovate in the areas of accounts payable, P2P, supply chain management and working capital optimization. With the IBM Watson integration, that information can be found and incorporated into pricing audits.

Accounts Payable 56

Accounts Payable Auditing Compliance Technology 56

PYMNTS

MARCH 10, 2020

As more technology emerges to sit between a company’s accounts payable (AP) platform and its vendor’s accounts receivable (AR) portal, service providers are looking to ease friction in a multitude of ways, from accelerating payments and cash flows to easing contract negotiations. Crowdz Pilots Invoice Crowdfunding.

Accounts Payable 57

Accounts Payable Invoicing B2B Vendor Management 57

PYMNTS

OCTOBER 28, 2020

Today in B2B payments, accounts payable automation firm CPS finds a buyer. OpenEnvoy Launches To Provide B2B Invoice Auditing. To help businesses only pay for what they have agreed to buy, OpenEnvoy has been established to offer invoice auditing without intervention. REPAY Inks Deal For B2B AP Automation Firm CPS.

B2B 56

B2B Foreign Exchange Accounts Payable Invoicing 56

Centage

SEPTEMBER 6, 2022

Excel does not have audit trail capabilities, so it is difficult to prevent fraud as numbers, and other financial data can easily be changed by any user. Without separation of duties or an audit that can track who has had access to the data, fraud can occur.

Securities 98

Securities Cash Flow Forecasting Budgeting Forecasting 98

Future CFO

OCTOBER 2, 2024

In the audit space, AI offers enhanced capabilities for data analysis – enabling auditors to process information and identify outliers or anomalies more efficiently. One third (33%) of the surveyed organisations have already implemented AI solutions in this domain – signalling a strong focus on enhancing insight through advanced analytics.

Accounting 52

Accounting Data Analysis Accounts Payable Auditing 52

PYMNTS

MARCH 28, 2019

Automated expense report auditing company AppZen is introducing a new spend auditing platform to analyze supplier invoices using artificial intelligence (AI).

Invoicing 46

Invoicing Auditing Accounts Payable Compliance 46

PYMNTS

JULY 27, 2020

And it’s no surprise that these transactions have to be digital for the sake of efficiency, fraud protection and auditability.”. And it’s no surprise that these transactions have to be digital for the sake of efficiency, fraud protection and auditability. Some suppliers can meet their needs, and some cannot.

Finance 73

Finance Accounts Payable Auditing Entertainment 73

PYMNTS

JANUARY 14, 2021

Sameet Gupte , CEO of EvoluteIQ , recently explained to PYMNTS how this strategy can support what he describes as "hyperautomation," with potentially significant benefits for financial workflows in areas like accounts payable and accounts receivable. Surmounting The Data Hurdle.

Finance 70

Finance Accounts Payable Auditing Accounting 70

PYMNTS

AUGUST 18, 2017

Israch said the advantage to these new offerings is it encompasses one holistic system for all parties to manage finances throughout the payment life cycle, as well as helping to manage fraud and audit risks. and overseas.”.

Accounts Payable 46

Accounts Payable Invoicing Compliance Auditing 46

PYMNTS

JUNE 16, 2020

In the June 2020 edition of The Gig Economy Tracker® done in collaboration with Tipalti , we find these traits, among others, defining innovation in accounts payable (AP) software. Businesses must establish touchless interactions with suppliers and banks.

Reconciliations 67

Reconciliations Invoicing Accounts Payable Auditing 67

PYMNTS

OCTOBER 22, 2019

Accounts payable technology company AvidXchange is targeting the healthcare industry with payments and invoicing offerings. The technologies can support the industry’s HIPAA compliance and other regulatory requirements with elevated financial reporting and auditing capabilities.

Healthcare 40

Healthcare Accounts Payable Invoicing Auditing 40

PYMNTS

JUNE 22, 2017

Even with the rise in eInvoicing and electronic B2B payments, disconnects, miscommunication and erroneous transactions plague the accounts payable department. Finding where those errors are via manual auditing can be a headache, too. According to Thompson, those mistakes have a variety of factors behind them.

Accounts Payable 48

Accounts Payable Invoicing Auditing Reconciliations 48

PYMNTS

JANUARY 17, 2018

Israch said he’s observed increased adoption and momentum for AP (accounts payable) automation and cross-border needs — and not just at his own company. Across the board, he said, CFOs and executives are realizing that they can’t keep up just by throwing more bodies at the problem.

Accounts Payable 40

Accounts Payable Auditing B2B CFO 40

PYMNTS

NOVEMBER 10, 2017

Especially for businesses that rely on manual expense reports, management and auditing processes, an employee that fudges a dollar amount here and there, or a worker who accidentally submits an expense report twice, mean companies can easily fall victim to fraud, both intentional and unintentional. It’s a very involved process.

Accounts Payable 44

Accounts Payable Auditing Invoicing Compliance 44

PYMNTS

AUGUST 3, 2020

The company’s CEO and founder, Shawn Askinosie , recently spoke with PYMNTS about the pandemic’s effects on transactions in the chocolate world and which accounts payable (AP) tools could become more important for SMBs. The pandemic has brought about new frictions, and SMBs have responded by examining their payment processes.

Accounts Payable 81

Accounts Payable Invoicing B2B Auditing 81

PYMNTS

APRIL 10, 2018

NetSuite has its own PO creation capability, but the integration enables users to streamline their complete accounts payable (AP) workflow. Israch said Tipalti has rolled PO matching and multi-entity into its existing NetSuite integration following the receipt of its NetSuite certification.

Accounts Payable 53

Accounts Payable Invoicing Auditing Startups 53