PYMNTS

JUNE 9, 2020

With accounts payable (AP) departments no longer able to step into their offices to print, sign and send checks, supplier payments quickly moved to the center of companies’ modernization discussions. But according to Anderson, there are other ways corporates can further mitigate the friction of modernizing accounts payable.

Accounts Payable 53

Accounts Payable Reconciliations CFO Accounting 53

PYMNTS

MAY 4, 2020

Office closures and remote working mandates have created an uncomfortable wakeup call for accounts payable (AP) and accounts receivable (AR) departments that continue to rely on manual, paper-based processes. For both sides, the transaction data of a virtual card payment means streamlined reconciliation and reporting.

Invoicing 66

Invoicing Accounts Payable Reconciliations B2B 66

PYMNTS

OCTOBER 2, 2019

As payments giants like Visa and Mastercard shift the innovation spotlight onto B2B transactions, developers of new accounts payable solutions are ushering in a growing trend: designing payment tools not just for the payer, but for the B2B supplier as well. Discover Targets Reconciliation Data. Vroozi Pay Eyes Vendor Relations.

Accounts Payable 52

Accounts Payable B2B Invoicing Reconciliations 52

PYMNTS

MARCH 4, 2020

“Native ERP reporting typically isn’t optimized to handle the structure of financial data, or many of the complex requirements like granular data, drill-downs, automated reconciliation and comparative reporting,” he said. Efforts to modernize procurement and accounts payable are also opportunities for data integration with the ERP.

Cash Flow Forecasting 104

Cash Flow Forecasting Accounts Payable General Ledger Corporate Finance 104

The Charity CFO

APRIL 29, 2022

The audit firm will come in to review your final end-of-year numbers and all the documentation they need to complete your audit. That means keeping your paperwork organized, staying current on your reconciliations, tracking restricted funds , and accurately recording all your expense and revenue transactions each month.

Nonprofit 105

Nonprofit Auditing General Ledger Reconciliations 105

PYMNTS

OCTOBER 28, 2020

Expense management and accounts payable (AP) automation company Emburse has rolled out Emburse Cards and Tallie Travel to offer a simple way for clients to handle their travel and out-of-pocket expenditures, according to a Wednesday (Oct. 28) announcement. In addition, employee card managers can supervise spend at a detailed level.

Accounts Payable 49

Accounts Payable Reconciliations Currencies Accounting 49

PYMNTS

JULY 2, 2020

Often at the center of this initiative is the accounts payable (AP) department — and unsurprisingly for these volatile times, the strategy can turn toward lengthening the days payable outstanding (DPO). “It’s not only the economics that are being optimized” by accepting cards, Leavitt said.

Economics 104

Economics Accounts Payable B2B Reconciliations 104

PYMNTS

DECEMBER 2, 2020

Mark Aquilina , senior vice president of product and strategy at WEX , told PYMNTS that’s partly because digitization of accounts receivable (AR) lags behind that of accounts payable (AP) on the technological front. Fragmentation also creates pain points for suppliers.

B2B 79

B2B Invoicing Accounts Payable Reconciliations 79

PYMNTS

AUGUST 9, 2017

In an effort to help corporate buyers get on board with electronic payments in their accounts payable departments, B2B payments company WEX is launching a new platform to support the shift. 8) that it is rolling out an Integrated Payables application, a cloud-based, bank-agnostic tool that supports electronic payments in AP.

Accounts Payable 43

Accounts Payable B2B Reconciliations Accounting 43

PYMNTS

JANUARY 20, 2021

In the case of Tango, which manages employees reward programs like this, the point is to provide employers with a full reconciliation of their purchases at the end of the year. We’ve talked to a number of companies that brought it up,” Salvione said. We’ve talked to a number of companies that brought it up,” Salvione said.

Accounts Payable 93

Accounts Payable Reconciliations Budgeting Finance 93

The Finance Weekly

MARCH 13, 2022

Over the last decade, the amount of capital deployed worldwide by venture capital investors and the number of start-ups receiving funding have grown substantially. It combines accounts payable automation, software-enabled corporate cards, and employee expense reimbursements.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Investments CFO Accounts Payable 52

PYMNTS

JANUARY 30, 2020

These 16-digit credit card numbers are created for one-time purchases at set amounts, and the convenience, security and speed they provide are allowing them to take hold in the B2B payments space. Virtual card numbers (VCNs) make payments easily trackable, and enable reliable data capture, helping merchants to reconcile payments.

B2B 71

B2B Invoicing Accounts Payable Reconciliations 71

PYMNTS

DECEMBER 12, 2019

That’s surprising for several reasons, and here’s a good one: nearly 70 percent of accounts payable (AP) professionals say suppliers value payments speed above all. HSBC’s new bank guarantee app is designed to clear a number of cross-border payments hurdles.

B2B 52

B2B Accounts Payable Reconciliations Healthcare 52

PYMNTS

JANUARY 14, 2020

In this sense, RTP may be seen as an integral part of wider efforts to streamline treasury and accounts payable operations, as well as shed the inefficiencies of manual and paper-based processes. percent), improved reconciliation with enhanced data (76.7 percent), 24/7 year-round service (76.9 percent in 2018. percent in 2018.

Accounts Payable 53

Accounts Payable Reconciliations Construction Treasury 53

PYMNTS

FEBRUARY 25, 2020

B2B payments’ innovation trajectory continues to accelerate as more end-point solutions emerge to improve the vast number of friction points in the industry.

B2B 69

B2B Accounts Payable General Ledger Finance 69

The Charity CFO

FEBRUARY 4, 2022

Prepare bank reconciliations. Allocate revenue and expenses to restricted fund accounts . Prepare the data accountants used to create income statement, balance sheet, and cash flow statement. Record and classify payments and bank transfers . Organize and maintain receipts . Create invoices for goods, services, and donations.

Nonprofit 98

Nonprofit Invoicing General Ledger GAAP 98

PYMNTS

MARCH 10, 2020

But this category of software has, in recent years, evolved within silos as technology providers tackle particular spend scenarios like accounts payable (AP) and employee expenses.

Accounts Payable 58

Accounts Payable General Ledger Budgeting Reconciliations 58

PYMNTS

APRIL 12, 2016

The virtual card has gained attention in recent years for its ability to not only digitize corporate payments but to safeguard them, often coming in the form of a one-time-use card number designated for a specific purchase category and value. Speaking of the AP professional, that’s the third benefit: streamlined accounts payable processes.

Nonprofit 40

Nonprofit Accounts Payable Reconciliations Cash Management 40

PYMNTS

FEBRUARY 5, 2020

For the companies that pay these workers, sometimes globally and across currencies, managing accounts payable (AP) processes is quickly becoming a complex endeavor. When every invoice is fully accounted for within a firm, he explained, financial professionals gain insight into the real sources of revenue — as measured against costs.

Invoicing 61

Invoicing Accounts Payable Foreign Exchange Currencies 61

PYMNTS

JANUARY 29, 2020

To be competitive in the P2P space today, especially at the mid- to high-end of the market, the investment would be millions of dollars and a number of years of development,” he said. “By By the time the solution was commercially available, it may not be competitive or cost effective.”. Unlocking Data to Unlock Value.

Banking 52

Banking Accounts Payable Vendor Management Reconciliations 52

PYMNTS

NOVEMBER 15, 2019

Though credit cards were not originally designed to address the needs of corporate payers, advances in commercial card technology have positioned the payment tool as one that’s gaining traction in the accounts payable department. Moving forward, he continued, this will be the force driving B2B payments innovation. ”

B2B 65

B2B Foreign Exchange Accounts Payable Reconciliations 65

Spreadym

JUNE 19, 2023

Control Accounts Payable: Effectively manage your accounts payable by negotiating favorable payment terms with suppliers, taking advantage of early payment discounts, and optimizing your inventory levels to avoid tying up excessive cash in stock.

Cash Flow Forecasting 52

Cash Flow Forecasting Invoicing Forecasting Accounts Payable 52

PYMNTS

FEBRUARY 27, 2018

“Regardless of the reason, these methods can pose problems, including reduced spend visibility, making it difficult to both track and enforce policy compliance and to perform back-office functions, such as reconciliation and reimbursement as well,” said GBTA Foundation Director of Research Monica Sanchez in a statement when the report was published.

B2B 41

B2B Marketing Accounts Payable Reconciliations 41

PYMNTS

DECEMBER 15, 2017

On a good day, managing the ebb and flow of supply chains, accounts receivable and accounts payable can be challenging; on a bad day, juggling all those spinning plates becomes a nightmare. Via its cross-border reconciliation network, Flywire can collect and reconcile those payments immediately and accurately.

Invoicing 48

Invoicing Reconciliations Currencies Foreign Exchange 48

CFO Simplified

DECEMBER 26, 2021

They review bank and credit card monthly reconciliations to assure accuracy and they review general ledger postings for the month—identifying any anomalies that might have crept in and writing up adjusting journal entries for bookkeepers to enter. Staff Accountant . The controller may propose changes in how things are processed.

Finance 52

Finance General Ledger CFO Auditing 52

PYMNTS

JANUARY 19, 2017

The virtual card number is a really great technology when you have thousands of payments going out on a daily basis,” she explained. “It That “smaller risk footprint,” she said, combines with automatic reconciliation of payments and greater transparency in payment activity.

B2B 46

B2B Accounts Payable Reconciliations Securities 46

PYMNTS

JUNE 22, 2016

In B2B payments, accounts payable automation is a hot topic, as are the challenges AP professionals face when it comes to paying suppliers and managing the data from those transactions. Nearly half of the companies surveyed by the institution said they still use spreadsheets for AR reconciliation.

Accounting 42

Accounting Invoicing Reconciliations Accounts Payable 42

Planful

JANUARY 11, 2022

Without AI, employees are burdened with hours of monotonous tasks like reporting and data reconciliation. This was great for business but led to increasingly long financial reconciliation times. There are a number of advocates and organizations leading the charge to avoid these pitfalls. 1 – Let AI do the heavy lifting.

Financial Planning and Analysis (FP&A) 40

Financial Planning and Analysis (FP&A) Finance Profit and Loss Reconciliations 40

PYMNTS

APRIL 14, 2017

I understand the numbers, because for a number of years we saw check use for B2B transactions go down, but we saw that trend was broken,” he explained. We actually see a decrease, overall, of these protective measures,” Carlsson noted, adding that daily reconciliation and other internal controls can help to combat check fraud.

B2B 40

B2B Accounts Payable Education Reconciliations 40

Future CFO

AUGUST 3, 2021

“We deployed robotic process automation for the accounts payable. For example, the company is now looking to automate AR and accounts reconciliation. “We The days of simply handing over statistics and crunching numbers are behind us.

Finance 52

Finance Forecasting Financial Modeling Accounts Payable 52

PYMNTS

DECEMBER 29, 2020

Now, with electronic processes in place in accounts payable (AP) and accounts receivable (AR) departments, businesses are in a more strategic position than ever before to elevate workflows and strengthen B2B relationships. B2B payments are messier than B2C payments," said Chanda.

B2B 114

B2B Reconciliations Accounts Payable Invoicing 114

PYMNTS

JANUARY 5, 2017

One of the biggest challenges today, he suggested, is that the process to migrate to a fully automated and digital process for electronic B2B payments — including AR, AP, reconciliation, accounting and other aspects of corporate finance — remain fragmented. And for smaller companies, especially, that process is a challenge.

B2B 40

B2B Reconciliations Corporate Finance Risk Management 40

PYMNTS

JANUARY 10, 2019

Recent months have seen corporate payment heavyweights investing further into encouraging that change, often promoting the use of virtual cards, driving momentum for a payment technology that can tackle multiple points of friction in accounts payable (AP) at once.

Reconciliations 61

Reconciliations Accounts Payable B2B Accounting 61

Centage

SEPTEMBER 6, 2022

Excel does not have audit trail capabilities, so it is difficult to prevent fraud as numbers, and other financial data can easily be changed by any user. Once you start sharing your spreadsheet across your organization, you open up your sensitive information — and, as a result, your entire business — to serious security risks.

Securities 98

Securities Cash Flow Forecasting Budgeting Forecasting 98

CFO Simplified

APRIL 8, 2022

She did payroll, accounts payable, invoicing and cash receipts. Take the three primary cash responsibilities—accounts payable, accounts receivable, and payroll—and cross train others so that they can take over if needed. Bank reconciliations should be reviewed by management.

Accounts Payable 52

Accounts Payable Cash Flow Forecasting Reconciliations Forecasting 52

PYMNTS

FEBRUARY 26, 2020

Many are turning to enterprise resource planning (ERP) tools with accounts payable (AP) automation to harness both solutions’ abilities and level up their businesses’ values. It especially appeals to the growing number of chief financial officers and treasurers eager to make their AP departments profit centers.

Invoicing 83

Invoicing Accounts Payable Reconciliations Accounting 83

Centage

SEPTEMBER 6, 2022

Excel does not have audit trail capabilities, so it is difficult to prevent fraud as numbers, and other financial data can easily be changed by any user. Bank reconciliation: Because employees can quickly modify or change numbers, you may run into false reconciliations.

Securities 52

Securities Cash Flow Forecasting Budgeting Forecasting 52