PYMNTS

OCTOBER 1, 2020

As banks look to streamline access to finance or make it easier to safely share financial information with apps, Barclays Business Banking and Wells Fargo are joining forces with FinTechs on digital initiatives. PYMNTS rounds up the latest partnerships and initiatives below. Barclays & Propel. SMBs] are the lifeblood of the U.K.

Finance 91

Finance Banking Foreign Exchange Invoicing 91

PYMNTS

JULY 21, 2017

Small business accounting and cash management took home the gold this week, with two startups raising a collective $93 million in funding. Receipt Bank. In the biggest funding round on our board this week, Receipt Bank, based in the U.K., Canada and India. Investors are recognizing that this is a huge market breaking out.

Cash Management 40

Cash Management Startups Invoicing Accounts Payable 40

PYMNTS

FEBRUARY 15, 2017

small businesses are losing billions of dollars every year because they aren’t properly managing company cash flow, a new survey finds. billion every year, collectively, because they spend so much time managing company finances like invoices, employee expenses and financial forecasting. Reports Tuesday (Feb.

Cash Management 43

Cash Management Invoicing Startups Forecasting 43

PYMNTS

DECEMBER 30, 2020

As treasury management becomes increasingly digital, a bank’s corporate banking clients face challenges when it comes to modernizing treasury workflows. Embedding banking into ERP systems has been a hot topic as of late — although the buzz surrounding it has been years in the making. Many-To-Many Markets .

Banking 97

Banking Accounts Payable Treasury Reconciliations 97

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

PYMNTS

SEPTEMBER 28, 2020

Banks' embrace of FinTech is often driven by consumers' growing demand for a more seamless and unified experience. Increasingly, treasurers are seeking intelligent solutions augmented by artificial intelligence (AI) and machine learning (ML) — and banks are turning outward to meet those needs. HighRadius & Commerce Bank.

Treasury 81

Treasury Banking Cash Management Invoicing 81

PYMNTS

OCTOBER 14, 2019

Finnish invoicing company Enterpay announced that it has closed a €1 million ($1.1 million) funding round, and has also entered into a partnership with German bank Volksbanken Raiffeisenbanken. Enterpay already has partnerships with some of the leading Nordic businesses in credit management, invoicing, and finance.

Invoicing 46

Invoicing B2B Risk Management eCommerce 46

PYMNTS

AUGUST 24, 2018

based Axiom Bank is expanding its business lending capabilities through the acquisition of Allied Affiliated Funding , reports said Thursday (Aug. The acquisition will also bridge Allied’s existing customers to the banking and cash management offerings of Axiom, the companies said.

Banking 54

Banking Invoicing Manufacturing Construction 54

PYMNTS

DECEMBER 1, 2016

Millions of dollars worth of unpaid invoices are written off by U.K. And it creates significant cash management issues for these businesses, the research found: A fifth of SMEs surveyed said cash flow issues have led them to lose contracts. Invoice finance is becoming a popular way for companies to remedy the issue.

Invoicing 43

Invoicing Finance B2B Cash Management 43

PYMNTS

AUGUST 3, 2020

It’s one factor in why so few challenger banks have launched in the country compared to markets like the U.K., where challenger banking has flourished in recent years. has been nowhere near other markets like Japan and Switzerland in embracing digital assets within the banking arena, though it’s not necessarily a surprise.

Treasury 117

Treasury Currencies Invoicing Cash Management 117

CFO Simplified

SEPTEMBER 16, 2022

Now, let’s dive into the six-step process to manage cash flow in your business. #1: This is your bank balance. It also includes: The invoices that you have entered into accounts payable, and. You don’t get invoices for all your bills. Auto payments coming directly out of your bank account are considered “critical.”

Accounts Payable 52

Accounts Payable Prioritization CFO Invoicing 52

PYMNTS

MARCH 4, 2020

Business to business (B2B) application programming interfaces (APIs) are helping smooth the flow of data between companies, including businesses and their financial services software as well as between banks and their corporate clients. Other banking integrations seek to revamp B2B payments.

Treasury 96

Treasury B2B Cash Management Leverage 96

https://trustedcfosolutions.com/feed/

JANUARY 31, 2023

Eighty-two percent of those that fail do so because of insufficient funds and cash flow problems. Formal Cash Management Procedures Getting the right balance of cash isn’t always easy. Review your cash flow statements early and often — make this a regular basis. Reconcile bank records in seconds.

Cash Flow Forecasting 57

Cash Flow Forecasting Forecasting Accounts Payable Cash Management 57

PYMNTS

FEBRUARY 1, 2021

Smooth accounts payable and receivable processes depend on the ability to easily access, manage and interpret payments data, but complex workflows and old-school tools can get in the way. Businesses that want to get these kinds of AR and AP updates and streamline their reconciliation processes may turn to banking partners for help.

Accounts Payable 93

Accounts Payable Reconciliations Invoicing Treasury 93

Future CFO

MARCH 14, 2022

By implementing Esker’s Procure-to-Pay suite and Esker’s Accounts Receivable solution ( Invoice Delivery , Collections Management and Cash Application solutions ), the company has gained full visibility and clarity over payables and receivables. When it comes to paying the invoices, are they paying the smaller amount first?

Invoicing 97

Invoicing Finance Accounting Banking 97

PYMNTS

NOVEMBER 16, 2016

Banks’ shortcomings when servicing small business clients have become an engine behind the FinTech boom. Alternative lenders, for instance, largely emerged as a response to banks retreating from the SME lending market. Historically, Kriplani explained, small businesses have been a weak spot for banks.

Banking 75

Banking Invoicing B2B Cash Management 75

PYMNTS

FEBRUARY 1, 2021

If at that time, someone would have asked Citi Managing Director and Global Head of Domestic Payments and Receivables Anupam Sinha how long it would take for corporate treasury organizations to fully embrace digital , he said his answer would likely have been something along the lines of, “Don’t hold your breath.”. he explained.

B2B 94

B2B Treasury Accounts Payable Cash Management 94

PYMNTS

NOVEMBER 29, 2018

Despite any possible reservations early on, large financial institutions (FIs) now appear to be going all in on Open Banking, with plans to introduce new revenue streams as a a result. The report, “It’s Now Open Banking, Do You Know What Your Commercial Clients Want From It?,” ” published Wednesday (Nov.

Banking 56

Banking Financial Data Investments Cash Management 56

PYMNTS

OCTOBER 25, 2017

Countingup , a FinTech that aims to combine and streamline corporate banking and accounting for small- and medium-sized businesses (SMBs), secured fresh funding this week, according to news from TechCrunch. Fouracre told the publication that it will also provide VAT returns, invoice generation, reporting and other features. “If

Accounting 44

Accounting Banking Invoicing Construction 44

CFO Simplified

APRIL 15, 2024

Here are twelve things you can do to take the pressure off: If you’re borrowing from the bank, ask for an over-advance. Call your customers, and ask them for early payment on the invoice that’s due next week. Call your suppliers and ask them for a two-week delay in paying that next invoice.

Invoicing 40

Invoicing CFO Banking Accounts Payable 40

PYMNTS

JANUARY 14, 2020

This complicated process can involve everything from accounting and invoicing software to bank accounts. Being able to handle accounts receivable (AR) and payable (AP) processes with minimal hassle or manual labor is bound to be high on business owners’ wish lists, after all, and integration-savvy banks can accommodate just that.

Cash Management 52

Cash Management Invoicing Accounting Leverage 52

PYMNTS

APRIL 23, 2020

As one-person operations, they often lack the resources and know-how to manage professional finances in a compliant and efficient way, yet they have more complex tax, payments and cash flow management needs than the average individual. Open Banking’s Impact. That means cutting out the jargon.

Accounting 56

Accounting Accounts Payable Invoicing Cash Management 56

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

JANUARY 15, 2019

According to Factris, DEBIFO currently holds 35 percent of Lithuania’s alternative finance market with its invoice financing solution, targeted at small and medium-sized businesses (SMBs). based Axiom Bank made its own acquisition in the factoring space with the takeover of Allied Affiliated Funding. In August, U.S.-based

Marketing 51

Marketing Invoicing Finance Cash Management 51

PYMNTS

JUNE 1, 2016

Small and medium-size enterprises are on their way to adopting some of the newest technology to help run their business, and that includes embracing solutions to enhance their payments and banking capabilities. Researchers also found shifts in the way these business owners are managing their cash.

Banking 41

Banking Cash Management Invoicing Technology 41

PYMNTS

AUGUST 1, 2019

A press release issued Wednesday (July 31) said ISO 20022 has the potential to promote efficiency in the correspondent banking community and modernize cross-border transactions. “Adoption of ISO 20022 will continue the transformation of correspondent banking already ongoing,” SWIFT said in its announcement.

Reconciliations 76

Reconciliations Cash Management Invoicing Banking 76

PYMNTS

JUNE 6, 2016

Listen up, lenders: Research on small businesses’ banking habits can offer valuable insight into the SME customer base. 56% of SMEs expect to pay bills via online banking more frequently this year , a sign that small businesses’ digital banking and payments needs are evolving, according to Fiserv research.

Banking 41

Banking Finance Cash Management Invoicing 41

The Finance Weekly

MARCH 5, 2024

This often involves replacing outdated ERP systems or implementing new cash management solutions. Question 3: Successful Training and Adoption Which software's training and adoption process was exceptionally well-managed across different teams, facilitating a smooth transition or implementation?

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance Leverage Cash Management 52

PYMNTS

JUNE 3, 2016

Small business owners are considered followers of consumer trends in terms of payments technologies; entrepreneurs use digital financial services in their personal lives, so that will naturally carry over into when they are managing the finances of their companies. “Banks have a window right now to take advantage of that.”

Banking 42

Banking Cash Management Invoicing Retail 42

PYMNTS

SEPTEMBER 20, 2017

They include electronic invoicing (eInvoicing) and other cash management solutions, with JPMorgan noting that the technology could help its business customers save up to 50 percent of the time they spend manually paying bills. Reports Tuesday (Sept.

B2B 50

B2B Invoicing Cash Management Accounting 50

Future CFO

DECEMBER 11, 2023

In the US, the US Federal Reserve is set to introduce to the local market FedNow – an instant payment solution that will enable customers of participating banks and credit unions to instantly send and receive money transfers outside of traditional banking hours. The payment landscape is no exception.

Banking 98

Banking Finance CFO Leverage 98

PYMNTS

NOVEMBER 7, 2019

The solution enables buyers to upload several invoices at once, and can also help users estimate future cash flow through the use of data in various formats. With this program, suppliers may effectively decrease ‘Days Sales Outstanding’ and enjoy additional working capital without leveraging bank credit lines.

Invoicing 40

Invoicing Cash Management Finance Leverage 40

PYMNTS

JANUARY 26, 2017

The solution is called Finlync SAP-DL Integrator , and the idea, said Finlync in an interview with PYMNTS, is that the ERP system is the central home to critical data like purchase orders and invoices, business partner payment information and the like. That speed is something which, simply, is not possible today.” However, this is changing.

SAP 57

SAP Invoicing Reconciliations B2B 57

PYMNTS

SEPTEMBER 17, 2019

Instead, taking a look at the latest solutions to emerge on the market shows various applications for speed in commercial transactions, from faster deposits for small businesses, to virtual cards enabling faster invoice payments for suppliers. Chase Accelerates SMB Bank Deposits. Community Banks Go Real Time.

Accounts Payable 43

Accounts Payable B2B Accounting Invoicing 43

PYMNTS

JUNE 19, 2019

The bank is integrating Identitii tokenization technology to launch HSBC DART, a secure digital information exchange offered under its Global Liquidity and Cash Management (GLCM) business. “HSBC’s DART is an industry first,” said Identitii CEO Nick Armstrong in a statement.

Accounting 55

Accounting Communication Cash Management Invoicing 55

PYMNTS

APRIL 20, 2017

Bank found that as many as 82 percent of SMEs had failed because of poor cash flow management. Nonpayment on outstanding invoices not only reflects poor cash management of a corporate buyer, but can impact the cash management abilities of a supplier, too. and Canada last year.

Invoicing 43

Invoicing Cash Management Accounting Banking 43

PYMNTS

JULY 7, 2017

Invoicing and accounts receivables company VersaPay has inked a partnership with Royal Bank of Canada. Reports Thursday (July 6) said the Canadian bank will provide its business clients with access to VersaPay’s ARC solution, under the RBC brand, to provide integrated accounts receivables capabilities.

Cash Management 40

Cash Management Invoicing Accounting Banking 40