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Most Innovative Financial Technology Company in Middle East | GEIDEA The first payment provider in the Middle East and North Africa region to offer instant merchant onboarding, Geidea enables businesses to start accepting payments within minutes, thanks to substantial investments in automation, AI, and digital verification.
Its about sustainability, compliance, and having the confidence to lead your mission with clarity. Without accurate reconciliations, your cash position is a guess at best. To fix this, start by performing monthly reconciliations for every bank and credit card account. Build a compliance calendar that tracks every key deadline.
But it also comes with a unique set of challenges, particularly for CFOs tasked with ensuring compliance with international reporting standards. For example, while South African companies follow International Financial Reporting Standards (IFRS), the US requires compliance with its Generally Accepted Accounting Principles (GAAP).
As businesses navigate their way around various technological advancements, finance teams are faced with the task to integrate analytics and automation into their existing processes, determining at the same time which specific system to transform first for maximum operational impact.
The Power of Automation Automation in financial reporting is more than a technological upgrade; its a cultural shift. Compliance and Risk Reduction The regulatory landscape is ever evolving. To mitigate this, CFOs can start small; automating reconciliation and reporting workflows first before scaling. The result? A solution?
This shift demands that billers stay informed and proactive, as compliance and efficiency heavily depend on understanding complex regulations and effectively leveraging service providers. Government Mandates: Clearance models help governments ensure compliance and improve tax collection through real-time transaction monitoring.
Current industry research suggests that AI technologies are gaining traction among finance professionals navigating a complex landscape marked by rapid change. However, the adoption rate varies significantly across the region, influenced by technological maturity and cultural attitudes towards innovation.
Treasury operations in Asia, particularly Southeast Asia, in 2025 and 2026 are navigating a complex and evolving landscape shaped by economic, geopolitical, and technological forces. Companies increasingly adopt digital tools to improve cash flow forecasting, automate reconciliation, and manage liquidity more effectively," he adds.
The latest EY Tax and Finance Operations (TFO) Survey reveals that GenAI will be of help in transforming tax and finance functions, as it aids to address inefficiencies, talent shortages and compliance with emerging reporting obligations, including those related to global minimum taxes.
National Australia Bank (NAB) has chosen Eedenbull to integrate its payment and spend management technology for SMB customers. NAB will add Eedenbull’s Q Business platform to its offering to help SMBs track and manage spend, as well as to automate compliance controls. ICICI Adds AlignBooks Technology.
It is a critical function that directly impacts investor confidence, operational resilience, and compliance. However, the pressures on fund managers are growing: Regulatory Demands : Global regulations such as the SECs private fund adviser rule require increased transparency and robust compliance systems.
Accountability Isnt Admin Its Your Performance Lever For all the talk about AI-driven forecasting, real-time dashboards, and digitising the finance function, there remains one cornerstone of high-performing finance teams that no technology can replace: accountability. Reconciliations get done. Compliance is non-negotiable, of course.
Keep track of debt agreements, leasing arrangements, lawsuits, complex transactions, technology modifications, and contracts with major customers and vendors. Balance Sheet Reconciliations. Paying attention to bank reconciliations is one of the easiest ways to identify errors or issues in the accounting processes.
The role of enterprise level CFOs has changed radically over the past decade with both a widening scope of influence and greater responsibilities for helping guide corporate transformation programs and technology choices. Sweeping changes in the enterprise technology landscape have also been a key driver in expanding the role of CFOs.
For payments technology players, finding the opportunities to build upon existing infrastructure continues to open up new doors in B2B payments improvements. Buyers, meanwhile, can capture early payment discounts, gain payment choice, and automate reconciliation, too. Mastercard Track Business Payment Services Launch.
Leslie Joseph , principal analyst at Forrester , believes companies must go beyond compliance checkboxes and implement robust data governance in connection with the release of the EU AI Act, as regulations will evolve, but finance teams that embed strong data and AI governance today will gain a long-term competitive edge.
16) said India-based Moglix launched its GST technology to support seamless, direct tax filing for companies that buy and sell on its B2B eCommerce platform. The company has offered the solution in beta phase to several businesses to support compliance in the tax filing and management process. Reports Friday (Dec. ”
In today’s rapidly evolving business landscape, the integration of technology into accounting practices has shifted from a luxury to a necessity. With the demands of modern businesses continuously growing, leveraging technology to streamline accounting processes is crucial for maintaining accuracy, efficiency, and competitiveness.
For the Electronic Banking feature, Acumatica will offer secure connections with more than 11,000 financial institutions with multiple authentication methods and tokenization technology, according to the release. And anomaly detection and streamlined bank reconciliation will be available.
In this episode, we dive into five issues that are at the heart of optimizing Quote-to-Cash to Compliance with SAP Revenue Recognition and subscription management applications, including complex bundling scenarios. Closing and Reporting: How can we shorten our periodic closing cycles while assuring reporting and disclosure compliance?
The demand for mobile wallets, online banking services, and the increasing adoption of digital technologies has led to the expansion of the financial applications market in Asia/Pacific. FutureCFO spoke to Deka to dig deeper into the topic: Which features/capabilities in financial applications are most in demand by mid-size enterprises?
Enterprise cloud migrations have opened up the ability for smaller businesses to adopt ERP technology once reserved for the largest corporates. For example, he pointed to multinational corporates’ need for tax provisioning and transfer pricing solutions to promote efficiency and compliance across borders. Disruption Ahead.
Whether it’s streamlining financial reporting, enhancing data accuracy, or ensuring compliance with South African regulatory standards, clearly defining these objectives will guide the entire design process. Choosing the Right Software and Technology Selecting the appropriate financial software is a critical decision.
The platform can be used by eCommerce merchants, gig economy platforms, financial institutions (FIs) and technology providers that aim to provide a customized experience. ” Commercial card technology can ease multiple pain points in B2B payments. Using a single solution, Rapyd offers a full suite of FinTech services.
“The enhancements improve the payment-to-settlement time, increase security and reduce costs for both payers and receivers by further automating and streamlining reconciliation of the growing number of international payments coming from different countries in different currencies,” the company said.
For accountants, Gen AI can help in the reconciliation and in-depth risk assessment with its capability to execute tasks, understand context and patterns and suggest optimal strategies. Since the technology is new, there is the question of how Gen AI Financial Statements undergo the scrutiny of regulatory requirements and audits.
. “What we can do as existing players in the ecosystem is build applications to take on that perceived technological burden of real-time payments, and then make it easy for participants,” he said, pointing to Mastercard products like Bill Pay Exchange and Payment On Delivery. ” Banks’ Collaborative Opportunity.
Many have since advanced to intelligent process automation (IPA) — RPA amplified with artificial intelligence (AI) — to streamline and improve more complex work, from tax and compliance reporting to financial statement reconciliation. But it’s a heavy lift and it requires skill sets you may not have in-house.
XML is becoming the new global language for payments and statements, ensuring compliance and unlocking numerous benefits and future services. XML also integrates easily with solutions like cash forecasting, cash pooling, automated reconciliation and refined parameters “on behalf of payments,” bringing Virtual IBAN capabilities to life.
As with real world debt, Digital Debt must be constantly serviced at high costs; primarily in the form of low productivity, time-consuming data reconciliation, lack of end-to-end visibility, continuous maintenance updates, and inability to make changes. There are many indicators that your company has excessive Digital Debt.
To be fair, there is no lack of new technologies aimed at displacing the beloved spreadsheet. The truth, however, is that modern cloud-based solutions can make the upgrade proposition very attractive cost-wise, and new technologies like AI and ML can dramatically aid usability and productivity,” he continues. Albert Leong.
The partnership supports Payment Canada's need for RTR to enable ISO 20022 messaging standards and remain in compliance with the Bank of Canada 's risk management standards for payment systems, an announcement revealed. One blockchain company that is wielding the technology to facilitate the movement of funds is BitPay.
Although the initial compliance phase for ASC 606 and IFRS 15 revenue recognition mandates is in the rear-view mirror for most companies, it's important to also keep a focus on the road ahead because optimization of overall RevRec processes across the enterprise will be key to ongoing success.
Compliance and privacy regulations aren’t necessarily getting easier — in many cases, [the process is] getting more complex, and it's also expensive,” Swanback said. Many of these companies, although newcomers to payments, are well-known in the technology world, further driving customer expectations for speed and ease of use.
Palette Software has connected its accounts payable (AP) automation cloud technology with Aptean ERP , according to a Monday (Nov. Enterprise business software firm Aptean offers targeted enterprise resource planning (ERP), compliance and supply chain management solutions to firms throughout the globe, according to the announcement.
The pre-conference event that I attended and spoke at was the 7th Annual Transformative Technologies in Accounting Workshop, which represents a sub-group of AAA focused on Strategic and Emerging Technologies. Hip, Cool, and Relevant Accounting Technologies. Heady stuff and certainly an emerging technology to watch.
At least, that’s what commercial card technology players believe, with this week’s rundown of the latest initiatives in corporate card solutions placing a focus on returning business trip volume. The integration also supports automated reconciliation and cash flow management, the companies noted in a press release.
While expanding internationally is the easy part, the challenge often comes in the back-office financials like invoicing , cross-border payments, accounting and reconciliation. Come auditing and tax time, maintaining compliance with all of the varying local regulations across different geographies adds an extra layer of complexity.
But the banks themselves also have complex demands for their own treasury departments, which, like other corporations, must be able to manage finances, risk and compliance. Compliance with domestic and international standards is considered a must,” Beaulande recently told PYMNTS. Staying Updated.
businesses are attracted to digital invoicing for a slew of financial benefits: faster, more efficient accounts payable and reconciliation processes, a reduction in the threat of errors due to manual data entry and ability to capture early payment discounts thanks to an accelerated invoice management process. In the U.S., Still, U.S.
“‘They’re just there for bookkeeping, bank reconciliation and payroll — what do I need you for when I can just do that myself?’ That’s particularly true when it comes to compliance and data security. “Customers are realizing, ‘What do I need an accountant for?'” ” Jones explained.
Data related to bank account management and reconciliation practices is also gathered for a more comprehensive view of how various treasury operations impact security. Security Practices Employed (Both Human & Technological). Investments in Security & Fraud Prevention Technology. Date : Tuesday, March 22, 2022.
Corporates’ biggest procure-to-pay challenges often center around the friction of streamlining data flows and the movement of money, from sourcing and purchase order submission to invoice payment and reconciliation. Yet, as supply chains expand across borders, a new burden has landed on procurement teams’ shoulders: compliance.
Modern nonprofit leaders are always looking for ways to use technology to make everyday tasks easier. This makes it challenging to create technology that tracks data for fundraising purposes while still following accounting principles. Instead, accounting software prioritizes accuracy, standardization, and regulatory compliance.
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