Report: Worldwide Accounts Payable Software Market To Reach $1.567M

PYMNTS

Zion Market Research released a report about the accounts payable software market on Wednesday (March 20), estimating the market will reach about $1,567 million by 2025, according to a release by the company. Accounts payable software enables the enterprises to improve the accuracy of their financial data, save time on various business methods, and allow the staff to work on other tasks,” Zion said. “It

Anybill, Intacct Align Accounts Payable Data

PYMNTS

Accounts payable solution Anybill is getting closer to existing partner Intacct in an effort to streamline the flow of financial data between the two platforms. Intacct has always believed that a company’s core financial system must be able to receive information from your other business systems and processes,” said Intacct VP of Business Development Scott Lumish in a statement.

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Oiling The Many Moving Parts Of Cash Flow Management

PYMNTS

Amid market volatility, organizations are finding it imperative to accelerate their accounts receivables while extending accounts payables and still maintaining positive buyer-supplier relationships. Cash flow is key to maintaining a viable business during the pandemic.

High Tech, Low-Touch Streamlines AP

PYMNTS

In accounts payable, you have to get the payments out and you have to print and mail checks. CFOs and CIOs are notoriously controlling about financial data ; it’s in their job description.

CFO 57

How Data Guides A New Era For The ERP

PYMNTS

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. He pointed to financial reporting as one example of this shift.

Why Digital Banking Platforms Might Be Firms' ERP Of The Future

PYMNTS

In addition to an enhanced user experience and seamless functionality, corporate and small business end-users are looking for financial services that can provide greater control over and visibility into finances — particularly in such volatile times.

CFOs Leaving Legacy Process In Their Digital Dust

PYMNTS

Kim Vodicka, vice president of commercial operations at Dell Financial Services, a division of Dell Technologies that provides financing solutions to businesses’ corporate and consumer clients, told PYMNTS , “APIs are becoming a very common request in the payment space.

Zeta Connects The Inflows And Outflows Of Corporate Payments

PYMNTS

The complexities of business transactions not only mean various financial functions, from accounts payable to payroll, are stuck in their own silos — it can often mean more silos within those disparate systems. It’s a challenge that is quickly becoming unacceptable for chief financial officers and corporate treasurers demanding real-time, holistic visibility into company cash positions and activities. In corporate payments, the term “silo” is synonymous with “headache.”

Deep Dive: How FIs Can Upgrade Authentication Measures To Foil Fraudsters? Open Banking Attacks

PYMNTS

Open banking may soon become table stakes for financial institutions (FIs) — they need to act now and be able to offer it securely or risk getting left behind. Educating account holders about threats can be especially effective in foiling phishing attacks, for example.

Tackling Late Supplier Payments From The Buyer’s Perspective

PYMNTS

But that accounts receivable bottleneck isn’t a liquidity problem isolated to the U.S. But according to Billie Co-Founder Aiga Senftleben, in order to break the cycle of delayed vendor payments, solution providers cannot tackle the problem from only an accounts receivable (AR) or accounts payable (AP) perspective. “It’s Traditional financing, meanwhile, can rely on personal financial data of a small business owner to underwrite any loan products or credit lines.

How APIs Are Helping FIs Meet SMBs’ Payment Needs

PYMNTS

This complicated process can involve everything from accounting and invoicing software to bank accounts. Today’s financial institutions (FIs) no longer need to worry about solely addressing all their clients’ financial-related needs, however.

Basware, Valtatech Target Aussie Superannuation Funds

PYMNTS

Their collaboration will also connect these funds to advanced data analytics for budgeting, performance management and procurement decision making, the companies said, while being able to integrate into existing super fund ERP systems. B2B Payments accounts payable B2B Basware eInvoicing News Procure-to-Pay superannuation Valta Technology Group Valtatech What's Hot In B2B

How Restaurant AP Grows Value With The Front-Office POS

PYMNTS

The restaurant industry has a lot of unique financial friction points. 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.

Will AP Rise To The Challenge As A Strategic Function Of The Enterprise?

PYMNTS

If you think of the rise of corporate America over the last century, the function of the accounts payable department probably doesn’t come to mind as one of the main players. In an age of disruption, innovation and near-constant change, accounts payable has become a way for businesses to retain control and strategy. ” Accounts payable has become more than just organizing and scheduling a payment.

Ricoh Launches Digital B2B Invoicing Tool

PYMNTS

Technology firm Ricoh is jumping into B2B payments with a new service aimed at digitizing accounts receivable processes. 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.

Portal Finance: Don’t Finance A Small Supplier Out Of Context

PYMNTS

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. The company recently announced a $200 million commitment from BTG Pactual, Latin America’s larges financial institution (FI).

For Improving Financials, Putting Big Data Into Context Is Key

PYMNTS

Big Data offers the enterprise a world of opportunity to improve processes and save money. But the aggregation of troves of data points is a monumental task – let alone sorting, analyzing and making sense of that information. The issue, said Alexander Rinke, co-founder and CEO of Big Data company Celonis , is that oftentimes, businesses approach the analytics process by relying on static data points.

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ERP Data On The Front Lines Of Blockchain Adoption

PYMNTS

For one firm, Finlync , the key to unlocking the potential of blockchain in B2B processes is unlocking the underlying data of that activity. 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. Otherwise, how can we manage an effective distributed ledger of data across all parties?

SAP 51

How Pairing Off Helps B2B FinTechs Stay Focused And Meet SMEs’ Demands

PYMNTS

Separate data from Sage found that most SMBs prefer to stick to their traditional tools and processes rather than integrate technology to overhaul some portion of their operations — even if it would mean greater efficiency and more time and money saved. But that meant business customers had limited visibility when making those payments, he said, forcing accounts payables executives to pay an invoice without all of the necessary data to ensure the invoice was accurate and approved.

The Waterfall Effects Of Integrated SMB Accounting

PYMNTS

Automation in small business accounting can certainly be beneficial, but when a cloud-based accounting platform remains within the confines of its own interface, there can be unexpected friction that prevents business owners from gaining real-time financial insights.

New Data: 85 Pct. Of Businesses Have Real-Time Payments On Their Road Maps – Here’s Why

PYMNTS

The Clearing House launched Real-Time Payments (RTP) two years ago, enabling financial institutions in the U.S. The report is based on a survey of more than 500 financial executives at firms from numerous sectors, including professional services, construction, retail and technology.

How To Capture The ‘Holy Grail’ Of Small Biz Cash Flow

PYMNTS

While it’s commendable for a micro-business owner to want to remain small enough to control the books, the fact is, many entrepreneurs are inept when they put on their accountant’s hat. And, truth be told, many of them don’t put it on much at all; while some of them hire a part-time accountant or rely on their financial institution to help, that often doesn’t really cut it either.

Multi-Location Restaurants And Franchises – The Best Cloud Accounting Solution

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This can pose challenges when each location is running its own instance of QuickBooks and financials have to be consolidated at the end of the month using Excel. . A cloud-based, AI intelligent accounting solution provides the real-time data you need to make smart business decisions.

Set Up a Nonprofit Chart of Accounts (Free Template)

The Charity CFO

If you’re brand new to nonprofit accounting, the Chart of Accounts might be the best place to start. Because even if you only have one bank account, bill, investment, or expense, you’ll need one. What is a Chart of Accounts? What goes on the Chart of Accounts?

The importance of effective communication in finance teams

Generation CFO

We also provide some tips on how to communicate effectively and discuss the financial benefits that come with this. . When data can flow seamlessly throughout a finance team, it ensures everyone has visibility over the company’s financial performance. Enhanced data.

Do Nonprofits Use Cash or Accrual Accounting?

The Charity CFO

If you’re like many people, you probably think that there is a single set of accounting rules that every company must follow. . So which accounting method is right for you? Is your nonprofit required to use accrual accounting? Cash vs. Accrual Accounting: What’s the difference?

Why are VCs Investing in The Office of the CFO?

The Finance Weekly

Venture Funding Hits High In Finance DataRails , DataRails , the financial planning and analysis (FP&A) platform for Excel users, announced early March 2022 that it has raised $50M in Series B funding.

How Excel Spreadsheets Can Create a Data Security Risk for Businesses

Centage

As a business owner or chief financial officer (CFO), spreadsheets may be an important part of your financial forecasting, planning, and budgeting processes. So, why are so many companies relying on them to handle their financial needs?

The Basics of Nonprofit Bookkeeping

The Charity CFO

Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofit accounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. Execute data entry to keep the general ledger current .

The importance of effective communication in finance teams

CFO News Room

We also provide some tips on how to communicate effectively and discuss the financial benefits that come with this. . When data can flow seamlessly throughout a finance team, it ensures everyone has visibility over the company’s financial performance. Enhanced data.

APIs Explore The Opportunity Of Mid-Market Liquidity Management

PYMNTS

As open banking frameworks take root in more markets around the globe, the model of data integration continues to also take shape in the business financial services market, particularly impacting micro- and small businesses (and the FinTechs that service them).

Why Do Shareholders Need Financial Statements?

CFO News Room

Financial statements provide a snapshot of a corporation’s financial health at a particular point in time, giving insight into its performance, operations, cash flow, and overall conditions. Understanding the Need for Financial Statements. Financial Ratios.

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Corporate Customers Key To SMB Cash Flow: Portal Finance

PYMNTS

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. At the same time, financial service providers are gaining greater access to financial data that can mitigate risk and provide a clearer picture of the true financial health of an SMB — and its ability to repay a loan.

WEX Links With Apptricity For Enhanced T&E Payments

PYMNTS

WEX will link its corporate card capabilities into Apptricity’s existing travel and expense (T&E) management offering to manage employee spend on company cards and support enhanced spend management via analytics of financial data. “We Our solutions deliver real-time management over travel, purchasing and accounts payable processing, further optimizing the payables process.”.

Healthcare's Back Office Catches Up To The Industry's Digitization Push

PYMNTS

For Ori Franco, chief financial officer at digital-first, female-focused healthcare service Nurx , the pandemic created an opportunity to initiate changes that were not previously considered as areas of potential optimization. Prioritizing Data Connectivity.