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. SME Accounting. FreshBooks CEO Mike McDerment spoke with PYMNTS to announce the $43 million in new venture capital for his SME accounting company. Receipt Bank.

Cash Management 40

Cash Management Startups Invoicing Accounts Payable 40

PYMNTS

JANUARY 30, 2017

Used to be that managing a company’s liquidity and cash position was a matter of reconciling disparate bank accounts at the end of the day. Trade finance, they said, could help boost efficiency in cash management and supply chain (via dynamic discounting on invoices).

Cash Management 49

Cash Management Treasury Invoicing Currencies 49

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

OCTOBER 27, 2016

. “However, as the large majority of SMEs still finance themselves with cash flow from operations, there is a significant opportunity for businesses to optimize working capital through better relationships with customers and better use of accounts receivables.” ” Indeed, 76 percent of SMEs in the U.S.

Cash Management 75

Cash Management B2B Finance Economics 75

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

PYMNTS

JUNE 19, 2019

HSBC is rolling out its digital accounts receivable solution for corporates in India after teaming up with Australia-based Identitii , reports in IT Wire said on Tuesday (June 18). “HSBC’s DART is an industry first,” said Identitii CEO Nick Armstrong in a statement.

Accounting 55

Accounting Communication Cash Management Invoicing 55

CFO Simplified

SEPTEMBER 16, 2022

This is called your business’ cash flow. . And, if you have a savings account that you put money into regularly for retirement or vacation plans, you’re practicing accrual accounting at home. Here’s a simple, six-step process to manage cash flow in your business. This is your bank balance. No more, no less.

Accounts Payable 52

Accounts Payable Prioritization CFO Invoicing 52

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. Automate your accounts payable processes.

Cash Flow Forecasting 57

Cash Flow Forecasting Forecasting Accounts Payable Cash Management 57

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

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

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

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

Future CFO

MARCH 14, 2022

International SOS embarked on the digital transformation of its finance operations by automating its procure-to-pay and accounts receivable processes. Collaborating closely with technology partner Esker Asia, the company moved from 85% paper-based invoices to handling 95% electronic invoices today. Ross Mackay.

Invoicing 97

Invoicing Finance Accounting Banking 97

PYMNTS

JANUARY 14, 2020

This complicated process can involve everything from accounting and invoicing software to bank accounts. The bank is potentially just the payment portion of the broader customer experience,” Imran Haider, executive vice president of open APIs for Wells Fargo , noted in a recent interview with PYMNTS.

Cash Management 52

Cash Management Invoicing Accounting Leverage 52

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

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

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

CFO Simplified

AUGUST 18, 2022

The cash gap, also known as the “Cash Conversion Cycle” (CCC), measures the time between when you need to write a check for your payables or payroll and when you receive payment of the invoices for the items you’ve sold. The formula for calculating the cash gap is: Days’ Inventory + Days’ Receivables – Days’ Payables = Cash Gap.

Accounts Payable 105

Accounts Payable Invoicing Accounting Sales 105

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. Real-time payments also mean account balances stay up-to-date.

Banking 98

Banking Finance CFO Leverage 98

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

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

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.” A Realistic Approach.

SAP 57

SAP Invoicing Reconciliations B2B 57

PYMNTS

NOVEMBER 9, 2020

The pandemic has been a game-changer for businesses, with retailers closing their doors, restaurants turning to delivery and pickup, and banks shifting to digital interactions to avoid potential viral transmission. How the Pandemic Changed Capital Management. “We We need a cash forecasting tool.’”.

Accounts Payable 52

Accounts Payable Forecasting Invoicing Leverage 52

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

PYMNTS

JANUARY 16, 2020

Solution providers in accounts payable (AP) and accounts receivable (AR) are increasingly servicing not only their corporate customers, but their customers’ own business partners with their technologies. At what point in the workflow can I prevent an invoice from going past due in the first place?”. The AP Impact of Late AR.

Accounts Payable 56

Accounts Payable Invoicing Treasury Education 56

PYMNTS

JULY 10, 2019

Some of the biggest industry trends, including faster payments, open banking and bank-FinTech collaboration, have found their ways into the Canadian market, the B2B payments space is not immune to disruption from these shifts. Open Banking. While Canada has not yet enacted open banking regulatory requirements, much like the U.S.,

B2B 62

B2B Accounts Payable Mergers and Acquisitions (M&A) Reconciliations 62

CFO Simplified

JULY 6, 2023

But despite the stress that this can create, there is probably something even more concerning: the emotions surrounding cash flow as it relates to payroll. Some employees check their bank account every payday to assure that they got paid. When a company runs into Cash Flow issues, you can put off paying your suppliers.

Cash Flow Forecasting 52

Cash Flow Forecasting CFO Invoicing Forecasting 52

PYMNTS

JANUARY 16, 2020

Open banking and its promise of more elasticity in finance is enabled by application program interfaces (APIs) — lines of code that execute everything from simple peer-to-peer (P2P) transfers to industrial-sized B2B real-time payments. As the industry marks two years since open banking’s U.K. Open Banking Opens Up.

B2B 53

B2B Finance Cash Management Invoicing 53

PYMNTS

APRIL 20, 2017

Allied World is expanding the reach of its accounts receivable insurance. We are very pleased to now have approval in every state,” said Allied World EVP, Head of Global Crisis Management Division, Todd Germano in a statement. Bank found that as many as 82 percent of SMEs had failed because of poor cash flow management.

Invoicing 43

Invoicing Cash Management Accounting Banking 43

PYMNTS

JULY 5, 2019

Financial Institutions are experiencing significant changes (and potential improvements) when it comes to managing and forecasting cash flow, with new tools and technologies entering the market — with many designed to appeal to small and medium-sized businesses (SMBs).

Cash Flow Forecasting 71

Cash Flow Forecasting Forecasting Invoicing Cash Management 71

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

NOVEMBER 16, 2018

RPA is igniting chatter in the corporate finance community as professionals explore next-level analytics and automation functionality to enhance processes like accounts payable, accounts receivable, cash flow management and more. Automation Anywhere. Purpose Financial LP led the funding round, reports said.

Accounts Payable 77

Accounts Payable Foreign Exchange Currencies Startups 77

PYMNTS

DECEMBER 11, 2019

Of course, that’s not always easy when industry participants are forced to rely on state-chartered banks, or no banks at all. “These banks don’t necessarily have all the tools and technology” that market players need. Traditionally, B2B commerce is conducted over the phone and via email.

B2B 52

B2B Invoicing Accounts Payable Compliance 52

PYMNTS

JUNE 22, 2020

Enabling employees to work remotely during the COVID-19 pandemic has sent a wake-up call to companies that their old-school accounts payable (AP) practices will not cut it in the new economy. Many banks are therefore partnering with AP-focused FinTechs to quickly meet clients’ new demand, he explained.

Accounts Payable 56

Accounts Payable Invoicing Banking Cash Management 56

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. Where Banks Fit In Problem-Solving. Understanding businesses’ biggest payment pain points requires a wide line of sight.

Accounts Payable 52

Accounts Payable B2B Problem Solving Nonprofit 52

Reval

JUNE 13, 2017

According to Kerry Logistics Group Treasurer Eddie Mak, Kerry’s previous spreadsheet and paper-based invoicing process for tracking and reconciling intercompany transactions took much manpower for little gain. “We Using Reval, Kerry Logistics increased the transparency and processing time of its intercompany netting operations.

Foreign Exchange 52

Foreign Exchange Treasury Cash Management Risk Management 52

Strategic Treasurer

MARCH 6, 2023

The chapter of discussion “Cash Bootcamp for Treasurers” provides a practical approach to understanding different perspectives of cash, how accounting and treasury can live in harmony and more. What are some of the different ways we look at it in finance, accounting as a view of it? What is it?

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance Treasury GAAP 52