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.

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Reconciliations Banking General Ledger Accounting 52

PYMNTS

JUNE 12, 2020

Freelancers have seen particularly harsh economic effects from the ongoing pandemic. Forty percent of those in the U.S. have lost at least $10,000 in income since its onset, leaving many operating on fast-declining savings. The nation

Reconciliations 53

Reconciliations Invoicing Finance Economics 53

PYMNTS

FEBRUARY 8, 2019

Financial data technology firm Validis is rolling out a new solution designed to automate month-end reconciliation processes for small business lenders and invoice financing firms. 7), Validis said it has rolled out DataShare Reconciliation for small business lenders offering Confidential Invoice Discounting (CID).

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Invoicing Reconciliations Concentration Financial Data 46

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. OneSource Virtual Rolls Out Invoice Pay For Vendor Payments. Invoice Pay, which is fueled by J.P. 21) announcement. 21) announcement.

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Invoicing B2B Reconciliations Valuation 66

PYMNTS

NOVEMBER 26, 2020

These firms are also looking to process invoices faster and more efficiently, and they are adopting automations that can rapidly interpret invoice-related information and flow it into their systems. . That means leaving old-fashioned AR methods behind, as many corporate clients no longer want to receive invoices in the mail. . “It

Invoicing 67

Invoicing B2B Accounts Payable Reconciliations 67

Future CFO

MAY 15, 2022

Finance leaders may have noticed one invoicing trend that emerged in the last couple of years – the way invoices arrive at their organisations has quite clearly changed. Now, with remote and hybrid work commonplace, most invoices are delivered through employees’ and the finance team’s email accounts.

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Invoicing Accounts Payable SAP Finance 52

PYMNTS

OCTOBER 20, 2020

Accounts payable and payments automation solution MineralTree has added automated PO and invoice matching for cloud-based accounting and financial management platform Sage Intacct , a press release says. The process of reconciling and matching invoices, when done manually, can be a time-consuming process for businesses, the release says.

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Invoicing Accounts Payable Reconciliations Healthcare 52

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.

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Finance Invoicing Reconciliations Prioritization 82

The Finance Weekly

APRIL 13, 2024

Every modern enterprise, regardless of size, requires finance software to manage various aspects of its financial health. However, with the abundance of finance software available today, selecting the right one can feel overwhelming.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance Invoicing Budgeting 52

CFO Talks

OCTOBER 3, 2024

Regular Reconciliations : Perform surprise cash counts and inventory checks and reconcile sales and deposit records frequently. This type of fraud often aims to meet financial targets or secure financing under false pretenses. Investigate any discrepancies promptly.

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Invoicing Auditing Benchmarking Reconciliations 98

PYMNTS

DECEMBER 15, 2020

On top of these industry-specific challenges, the legal cannabis space faces the traditional hurdles associated with B2B payments: friction in invoice processing and payment reconciliation, cash flow management challenges, and the disconnect between when buyers want to pay and sellers want to get paid.

B2B 111

B2B Accounts Payable Startups Invoicing 111

Future CFO

AUGUST 1, 2023

Supriya Deka: The general features of financial applications include accounting, reporting & analytics, bank reconciliation, billing & invoicing, asset management, budgeting & forecasting, financial risk management, expense tracking, and payroll management.

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Invoicing General Ledger Reconciliations Budgeting 98

PYMNTS

NOVEMBER 9, 2018

Barclays is rolling out an electronic invoicing solution for its U.K. 8) said Barclays now allows small and medium-sized businesses to access a mobile eInvoicing tool, including invoice generation and submission. On average, businesses spend 92 minutes a week on invoicing, amounting to 10 working days a year, reports said.

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Invoicing Reconciliations Banking Finance 67

Future CFO

APRIL 27, 2023

Stripe announced recently the expansion of its revenue and finance automation suite to give businesses in Asia Pacific power over the entire life cycle of their cash flow. Stripe said its suite relieves those burdens by equipping finance leaders with revenue management tools that are as sophisticated as the businesses they run.

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Finance Reconciliations Invoicing Data Analysis 52

PYMNTS

FEBRUARY 25, 2020

Singaporean peer-to-peer (P2P) platform Funding Societies will partner with Singapore eBusiness (SGeBIZ) for a new way to provide financing solutions to customers, reports said. The survey predicted innovations in SMB working capital financing to grow more than 20 percent by 2025. Funding Societies has worked with more than $1.1

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Finance Reconciliations B2B Invoicing 56

CFO Share

JUNE 18, 2024

As your business grows and success becomes more tangible, the complexities of managing your finances increase as well. Practice reconciliation both with and without the integration. Here’s ideas on how you can implement this process: Sales – validates client invoicing. Operations – validates inventory records.

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General Ledger CFO Accounts Payable Financial Data 105

PYMNTS

APRIL 9, 2019

While use of trade finance continues to climb, the International Chamber of Commerce ‘s Banking Commission has warned the financial services market that small and medium-sized business (SMB) access to trade finance is disproportionately low, as large financial institutions (FIs) pull back from the SMB borrower segment.

Finance 63

Finance Cash Flow Forecasting Reconciliations Treasury 63

PYMNTS

NOVEMBER 11, 2020

The Playbook also calls out “three-way invoice matching — in which staff must compare invoices to purchase orders and goods received notes,” and the frustrations that brings, but automation can reduce these stresses by matching these invoices automatically. Clearly, there are issues. A recent survey found that 74.2

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Invoicing Accounts Payable Treasury Reconciliations 87

PYMNTS

MARCH 4, 2020

The enterprise resource planning ( ERP ) system has been a staple of corporate finance operations for years, acting as a central repository of data and a hub to initiate a range of processes, from accounting to procurement. But the ERP of today doesn’t look like it used to. The ERP’s Role in a FinTech World.

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Cash Flow Forecasting Accounts Payable General Ledger Corporate Finance 104

PYMNTS

JANUARY 23, 2019

The Coupa Pay solution also includes automated reconciliation with the initial purchase order, the companies noted in the press release. The card number is automatically generated once the PO is approved, with payment only made for the designated supplier and amount. JPMorgan is the second card issuer to join the Coupa Pay solution.

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Reconciliations B2B Invoicing Finance 75

PYMNTS

NOVEMBER 25, 2020

Just as important — if not more so — is the movement of transaction data that enables businesses to reconcile transactions and manage finances. Today, suppliers that receive a transaction may see funds weeks after an invoice is issued. The biggest benefit I see is not necessarily the payment itself,” he noted.

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B2B Invoicing Reconciliations Accounting 116

PYMNTS

JUNE 16, 2020

In addition to platforms connecting gig workers with companies looking for them, “Companies must also make sure they can quickly pay their freelancers, which involves reconciling the amounts requested with the services provided and listed on invoices,” the Tracker states. Manual Reconciliation, Begone. Close As Many Loops As Possible’.

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Reconciliations Invoicing Accounts Payable Auditing 67

PYMNTS

NOVEMBER 6, 2018

Businesses will be able to pay supplier invoices with both single and multi-use American Express virtual cards from within the Synaptic platform. American Express virtual payments are then sent to vendors, with users having the option to integrate approval steps into the workflow and to access reporting for streamlined reconciliation.

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Accounts Payable B2B Invoicing Reconciliations 71

PYMNTS

NOVEMBER 8, 2018

7) said Coupa Pay is making its market debut with a range of both payment and business financing solutions. A single-use Barclaycard credit card number is created to pay the supplier, which is followed by automatic reconciliation. Two press releases issued Wednesday (Nov. “It inherently offers a twofold advantage.

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Invoicing Reconciliations B2B Finance 65

PYMNTS

NOVEMBER 12, 2020

Shields offered an example of intentional information: invoice data. Reconciliation should be an intuitive process, she added. Today, a bank simply receives a payment instruction from its customer. This is the No. 1 ask that we see from treasurers, controllers and CFOs across organizations of all sizes,” she said.

Banking 88

Banking Invoicing Reconciliations Treasury 88

PYMNTS

DECEMBER 30, 2020

That's especially true, he told PYMNTS , when it comes to capturing data from purchase orders and invoices to accelerate document processing and reconciliation. There is also the rise of "pay-one, pay-all invoices," which sees businesses able to batch together outstanding invoices and pay them all at once to save time and money.

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B2B Accounts Payable Invoicing B2C 119

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.

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B2B Treasury Accounts Payable Cash Management 94

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. “This combination increases data accuracy, and shortens payment cycles.”

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Accounts Payable Banking Invoicing B2B 83

CFO Simplified

DECEMBER 26, 2021

Your Ultimate Finance Department Checklist (By Business Size). It’s easy to grow without noticing that your finance and accounting department is stretched far too thin. Here’s a guide to set your accounting and finance department up for success as your business grows. Accounting and Finance Department Review and Checklist.

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Finance General Ledger CFO Auditing 52

Future CFO

NOVEMBER 5, 2019

While organizations are implementing the technology, finance functions need to know what AI can and can’t do for them to effectively allocate resources and manage their expectations before deployment. To make these tools more accurate in document recognition and data extraction, finance functions need to train them with many sample documents.

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Finance Invoicing Auditing Reconciliations 52

PYMNTS

FEBRUARY 26, 2020

Accounts payable and finance departments in the middle market want to invest in growth, in products, in service, in people — they don’t want to invest in suppliers or supplier-related processes,” he said, highlighting the supplier management and communication component of AP that is becoming increasingly important.

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Accounts Payable Accounting Invoicing General Ledger 72

PYMNTS

SEPTEMBER 12, 2018

Alternative small business finance comes in many forms as FinTechs target SMB cash flow. Considering cash flow woes are often linked to long payment terms for corporate customers, many of these AltFin players are emerging with financing products designed to target this particular weak point in small business finance.

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Finance Accounts Payable Invoicing Reconciliations 40

PYMNTS

NOVEMBER 20, 2020

While expanding internationally is the easy part, the challenge often comes in the back-office financials like invoicing , cross-border payments, accounting and reconciliation. At the same time, parent organizations must consolidate this data to obtain a holistic view of finances across entities. Post-Payment Pain Points.

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PYMNTS

JANUARY 20, 2021

Ryan Frere, executive vice president and general manager of B2B for Flywire , believes that embedded finance in B2B is key to payments optimization in 2021. Virtually all cloud-based subscription services use some form of embedded finance. Apple iTunes is another. There is no separate payment motion involved to utilize the service.

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PYMNTS

DECEMBER 29, 2020

With the pandemic forcing accounts payable (AP) and accounts receivable (AR) departments to hit the gas on their digitization roadmaps, finance leaders are grappling with an accelerated pace of change that can, at times, be overwhelming. But it can be a lot simpler.”. The Need For Change.

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B2B Accounts Payable Invoicing Reconciliations 82

Future CFO

APRIL 4, 2023

Finance Shared Services (FSS) is being looked upon as a strategy to deliver this much-needed transformation. The true benefit of an FSS does not come from the cost savings of the Finance team, which is typically small at around 1-3% of an organisation's revenue. The projected growth of the industry from US$1.8 trillion in 2022 to US$2.5

Finance 52

Finance Reconciliations Invoicing Budgeting 52

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. ” In other words: more affordable financing. .” ” In other words: more affordable financing.

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Finance Accounts Payable Invoicing Reconciliations 40