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. Many still use manual invoicing systems that can slow payment processes. Interest in cloud-based payables automation was hot before the pandemic.

Reconciliations 67

Reconciliations Invoicing Accounts Payable Auditing 67

PYMNTS

FEBRUARY 19, 2018

You could call accounts payable (AP) the last mile of payments in a way. In transforming the payables process, the executive said, “it goes beyond just the payments themselves. These are firms that have failed audits or are about to fail audits. Or perhaps AP stands for the last mile of automated processes?

Auditing 51

Auditing Accounts Payable Currencies Accounting 51

CFO Simplified

DECEMBER 26, 2021

From overworked staff accountants to controllers running month-end closes, a poorly structured finance, and accounting department can put strains on your business’ growth. Here’s a guide to set your accounting and finance department up for success as your business grows. Roles and Responsibilities. Bookkeeper.

Finance 52

Finance General Ledger CFO Auditing 52

The Charity CFO

JANUARY 17, 2022

Then we’ll move onto some other common accounting terms: Assets. So the cash in your bank account is an asset. But it also includes accounts payable (unpaid bills), credit card bills, outstanding payroll, and more. Examples of nonprofit liabilities: Bank loans. Unpaid bills (accounts payable).

Nonprofit 98

Nonprofit Accounting Profit and Loss Accounts Payable 98

PYMNTS

NOVEMBER 26, 2019

Organizations evaluating the return on investment (ROI) of accounts payable (AP) automation find obvious benefits from cost savings, early payment discounts and rebate-earning opportunities. That can lead to a lack of cohesion within the payment supply chains for AP or accounts receivable (AR) operations, Wessels said.

Accounts Payable 52

Accounts Payable B2B Invoicing Auditing 52

Boston Startup CFO

APRIL 3, 2023

In this tier, a double-entry accounting system is employed to ensure the accurate recording of all transactions. This includes managing invoices, receipts, and payments, as well as reconciling bank statements. A disorganized bookkeeping system causes the rest of the financial accounting hierarchy to be unsound.

Accounting 52

Accounting Accounting Principles GAAP Compliance 52

PYMNTS

JANUARY 17, 2018

Over the past few years, demand has increased for system integrators, ERP (enterprise resource planning) resellers, procure-to-pay implementers, business process outsourcing companies and banks to work together as their clients strive to enable complex capabilities like cross-border payments and invoice automation.

Accounts Payable 40

Accounts Payable Auditing B2B CFO 40

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

AUGUST 12, 2019

The scheme apparently unfolded the way many BEC scams do — with a fraudster posing as a legitimate vendor, and where payments had been wired into scammers’ bank accounts. percent of an enterprise’s non-payroll business spend is accounts-payable based and 3.7 percent is travel and expense (T&E)-based.

Auditing 59

Auditing Invoicing Accounts Payable Treasury 59

PYMNTS

JULY 6, 2020

Parma was the target of a recent audit by state Auditor Nicole Galloway, who found evidence of payroll fraud and/or “improper payments to the mayor, city clerk, and to city officials and others who were related to the major or city clerk.”

Accounts Payable 59

Accounts Payable Profit and Loss B2B Invoicing 59

PYMNTS

SEPTEMBER 28, 2020

Corporate buyers that fail to adhere to these regulatory requirements could face audits, fines and tax withholdings. Companies may be eager to ditch paper checks and other manual methods from their B2B payment flows, as 24 percent of accounts payable (AP) professionals say that such processes worsen vendor relationships.

Accounts Payable 66

Accounts Payable B2B Invoicing Auditing 66

BlueLight

JULY 30, 2020

Accounting is a driver for software selection For accounting software, the industry standard for startups and SMBs is QuickBooks. It connects with bank accounts and corporate credit cards to track financial information. Security and Audit ?—?NetSuite Billing and invoicing software: Bill.com ?—?Cloud-based

CFO 52

CFO Financial Planning and Analysis (FP&A) Strategic Planning Startups 52

PYMNTS

NOVEMBER 4, 2020

Even with the digitization of the invoice, fraud remains a rampant problem, and it's not only the buy-side of the B2B equation faced with the consequences. Deepfake technology means criminals can masquerade their own voices to convince unwitting employees to approve an invoice for payment, for instance. A Straightforward Challenge.

Invoicing 90

Invoicing Auditing B2B Accounts Payable 90

PYMNTS

JANUARY 20, 2021

Among the largest is the ongoing use of paper and manual workflows like invoice processing. Manual invoicing is your worst enemy,” said Ramachandran, highlighting its risks and challenges related to fraud, errors and inefficient auditing.

B2B 125

B2B Prioritization Invoicing Corporate Finance 125

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

AUGUST 24, 2017

More than half of accounts payable departments said they don’t partner closely with internal audit teams, while 82 percent have no connection to internal enterprise security teams. In general, he said, companies are aware of the risk of fraud in their accounts payable departments.

Accounts Payable 40

Accounts Payable Invoicing Benchmarking Auditing 40

PYMNTS

AUGUST 13, 2020

Firms must receive and process invoices, calculate often-complicated payment amounts and issue payouts to recipients around the world, explained Ed Klaris, CEO of intellectual property and royalties-focused consulting and managed services firm KlarisIP. The level of complexity was way too high for those small payments,” he said.

Entertainment 57

Entertainment Invoicing Currencies Auditing 57

The Finance Weekly

JULY 31, 2023

His expertise spans financial analysis , budgeting, business partnering, financial storytelling, excel, and audit. Improved financial modeling and investment banking management are among the notable benefits that AI brings to growing companies. He has also launched the first Chat GPT for the finance training program.

Corporate Finance 52

Corporate Finance Finance Leverage Accounts Payable 52