PYMNTS

JANUARY 22, 2021

In the accounts receivable (AR) function, Franco noted that Nurx implemented lockboxes in order to centralize the receipt of paper checks from insurance companies. But on the accounts payable (AP) side, the company also saw the opportunity to shift from checks to digital payment methods to pay vendors.

Healthcare 74

Healthcare B2B Prioritization Accounts Payable 74

Spreadym

JULY 10, 2023

Here are the typical steps involved in the financial close process: Pre-Close Activities: This phase involves preliminary activities to prepare for the close process, such as reviewing account reconciliations, ensuring the completeness of transactions, and resolving any outstanding issues or discrepancies.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Reconciliations Accounts Payable General Ledger 52

The Charity CFO

OCTOBER 9, 2024

Instead, accounting software prioritizes accuracy, standardization, and regulatory compliance. Instead, accounting software prioritizes accuracy, standardization, and regulatory compliance. For nonprofits, GAAP ensures transparency, accuracy, and consistency in financial statements. Contact us today to learn more!

Accounting 52

Accounting GAAP Nonprofit Accounting Principles 52

PYMNTS

APRIL 12, 2016

Not only do they add an enhanced level of security and fraud protection to the accounts payable process, they also simplify processes and provide a mechanism for generating new forms of revenue to support the nonprofit mission.”. Speaking of the AP professional, that’s the third benefit: streamlined accounts payable processes.

Nonprofit 40

Nonprofit Accounts Payable Reconciliations Cash Management 40

PYMNTS

AUGUST 9, 2019

That’s what makes the marrying of front-office finances with back-office finances so valuable for this space, according to Teri Wilson, general manager at restaurant accounts payable technology firm Sourcery. At first glance, the synergies between a point of sale (POS) and accounts payable solution may not appear clear.

Accounts Payable 43

Accounts Payable Invoicing Reconciliations Finance 43

PYMNTS

SEPTEMBER 12, 2018

But they can also be extremely expensive, charging high interest rates that may lead to default and can ultimately prove even more detrimental than helpful to the financial health of the SMB.

Finance 40

Finance Accounts Payable Invoicing Reconciliations 40

PYMNTS

JANUARY 14, 2020

One of the factors behind this may be financial leaders’ rising expectations for how payment systems should operate. In this sense, RTP may be seen as an integral part of wider efforts to streamline treasury and accounts payable operations, as well as shed the inefficiencies of manual and paper-based processes.

Accounts Payable 53

Accounts Payable Reconciliations Construction Treasury 53

PYMNTS

JANUARY 26, 2018

Corporate accounting software is now a continually evolving space, but progress doesn’t occur in a vacuum: External forces and trends, from changing regulations to increased adoption of FinTech by the enterprise, force businesses to adjust how they record and report financial data. Open Banking initiatives in the EU, U.K.,

General Ledger 47

General Ledger Benchmarking Reconciliations Accounts Payable 47

The Finance Weekly

MARCH 13, 2022

Based on AI and Machine Learning capabilities, the DataRails’ solution provides real-time financial consolidation and advanced data visualization, through intuitive and simple implementation. For the first time, all financial data is uploaded to the cloud, providing continuous agility and content sharing.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Investments CFO Accounts Payable 52

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

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. Nearly half of the companies surveyed by the institution said they still use spreadsheets for AR reconciliation.

Accounting 42

Accounting Invoicing Reconciliations Accounts Payable 42

The Charity CFO

JULY 19, 2024

Their primary role is to ensure that all transactions are entered into the accounting system with accuracy and consistency. Accountants run reports to help determine if the bookkeeping is done correctly. As an executive-level role, the CFO is in charge of guiding the overall financial strategy of the organization.

CFO 52

CFO Accounting Nonprofit General Ledger 52

Centage

SEPTEMBER 6, 2022

Excel may be an easier target for hackers due to inadequate encryption features for protecting your sensitive business information, such as identifiable details and confidential financial data. Bank reconciliation: Because employees can quickly modify or change numbers, you may run into false reconciliations.

Securities 52

Securities Cash Flow Forecasting Budgeting Forecasting 52

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

SEPTEMBER 4, 2018

Rising adoption of virtual accounts, which are linked to a single physical bank account, enables corporates to set up a virtual account per customer or business line, then reconcile that data to the central account.

Treasury 44

Treasury Foreign Exchange B2B Accounts Payable 44

PYMNTS

SEPTEMBER 12, 2018

There is no shortage of FinTech firms that have emerged since the 2008 financial crisis aiming to facilitate access to small business capital, many of which target supplier and invoice financing specifically. As the industry grows, access to small business financial data is a critical component of risk mitigation and underwriting practices.

Finance 40

Finance Accounts Payable Invoicing Reconciliations 40

PYMNTS

FEBRUARY 15, 2019

The process through which organizations, like universities, gain that spend visibility — that is, being able to integrate financial data across platforms — opens doors to other opportunities in the higher education industry. Yet, the effort to gain a deeper view into spend isn’t simply to avoid those threats, Rotoli noted.

Education 49

Education Accounts Payable Reconciliations Prioritization 49

Future CFO

AUGUST 3, 2021

Financial teams have always had a unique vantage point: the financial data they deep dive into allows them to understand their organization's financial options and health. It is one reason why hunting for financial data is a lifelong job for many financial professional teams.

Finance 52

Finance Forecasting Financial Modeling Accounts Payable 52

Spreadym

JUNE 19, 2023

Control Accounts Payable: Effectively manage your accounts payable by negotiating favorable payment terms with suppliers, taking advantage of early payment discounts, and optimizing your inventory levels to avoid tying up excessive cash in stock.

Cash Flow Forecasting 52

Cash Flow Forecasting Invoicing Forecasting Accounts Payable 52

Planful

JANUARY 11, 2022

As technology crunches the growing volumes of data, soft skills like critical thinking, problem-solving, and communication will become crucial for Finance to succeed. #1 Without AI, employees are burdened with hours of monotonous tasks like reporting and data reconciliation. 1 – Let AI do the heavy lifting.

Financial Planning and Analysis (FP&A) 40

Financial Planning and Analysis (FP&A) Finance Profit and Loss Reconciliations 40

PYMNTS

JANUARY 5, 2017

The tool integrates into existing accounts receivable and accounts payable platforms, the company said, adding that the new solution looks to aid in common issues of B2B payments, including misplaced invoices, manual reconciliation and chasing down outstanding payments.

Invoicing 40

Invoicing B2B Accounts Payable Reconciliations 40