PYMNTS

NOVEMBER 1, 2020

End-of-month expense reports, which the release called "dreaded," can be done away with as paper processes aren't used and reconciliation is always happening as a 24/7 process. The pandemic's economic slowdown has only compounded those issues. Expense management already had issues before the pandemic.

Reconciliations 67

Reconciliations Auditing B2B Economics 67

PYMNTS

DECEMBER 28, 2020

B2B payments are done via paper check, and that manual processes tied to reconciliation (not to mention phone calls) can be automated to put more focus on the actual customer experience (or operational efficiencies). Sassone pointed to the fact that half of all U.S.

B2B 86

B2B Accounts Payable Treasury Reconciliations 86

PYMNTS

DECEMBER 14, 2020

These solutions provide an increased layer of security and visibility and help to lower the costs of doing business by providing easy reconciliations and worldwide acceptance,” Khan said in the announcement. According to news in June, Dubai-based ridesharing firm Careem had entered into a collaboration with Visa to grow digital payments.

Banking 67

Banking B2B Reconciliations Securities 67

Bramasol

MAY 13, 2024

Continual Improvement: The FASB continuously monitors developments in financial reporting, including changes in business practices, economic conditions, and regulatory requirements, to identify areas where accounting standards may need to be updated or improved.

Auditing 89

Auditing Compliance SAP Accounting Standards 89

PYMNTS

AUGUST 3, 2020

Numerous economic, social and technological trends are rendering this system more outdated, however. Interest in more flexible compensation methods was growing before the pandemic, and related economic shifts are likely to accelerate this trend as businesses seek to motivate employees as well as attract new talent.

Economics 84

Economics Reconciliations Numbers Accounting 84

CFO Talks

JANUARY 30, 2023

Increased automation of financial processes such as accounts payable, bank reconciliations, financial closes and reporting is freeing up the CFO’s time, enabling them to focus their energies on analysis and storytelling rather than crunching numbers.

Finance 52

Finance CFO Accounts Payable Forecasting 52

PYMNTS

MAY 4, 2020

With so much paper stuck in AR and AP departments, the B2B payment functions are prime digitization targets that could yield efficiencies and cost savings well after economic disruption settles. 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

JUNE 10, 2020

The pandemic affected the freelance market in varying ways, with many workers facing increased economic uncertainty and drawing upon their savings as work opportunities became scarce. Why Slow Invoice Reconciliation Is Leading To Financial Pains And Rising Costs. About The Tracker.

Invoicing 56

Invoicing Reconciliations Accounts Payable Communication 56

PYMNTS

JULY 2, 2019

Esal will also provide users with data and business intelligence solutions, payment clarification and payment status visibility, offering a control panel to facilitate the reconciliation process, and promote communication between buyer and supplier.

Invoicing 43

Invoicing Reconciliations B2B Economics 43

PYMNTS

DECEMBER 28, 2020

In addition to new payment models coming to fruition, B2B FinTech innovation is also driving efficiencies in the post-payment workflow, especially when it comes to reconciliation. Driving progress will be key not only to supporting the health of organizations' own cash flows, but to the broader market.

B2B 81

B2B Invoicing B2C Reconciliations 81

PYMNTS

MARCH 6, 2020

The company aims to streamline and consolidate corporate spend management processes, including expense requests, invoice processing and approval, bill payment and reconciliation, with the ability to integrate into back-office accounting and finance platforms.

B2B 80

B2B Startups Nonprofit Reconciliations 80

PYMNTS

NOVEMBER 13, 2020

This is particularly true with adoption of the ISO 20022 payments messaging standard, said Beattie, which promotes "enriched data transmission" and "leads to quicker, more informed and more efficient reconciliation processes.".

Reconciliations 75

Reconciliations Leverage Economics Finance 75

PYMNTS

OCTOBER 14, 2020

The economic picture is certainly less than rosy, where unemployment may be high well into the next few years. When asked how B2B might be transformed as a result of that collaboration, Gavrity stated that volumes may be down (as firms grapple with economic headwinds), but moving forward he expects to see the “verticalization of B2B payments.”

B2B 97

B2B Accounts Payable Reconciliations Economics 97

CFO Leadership

OCTOBER 10, 2023

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.

Financial Planning and Analysis (FP&A) 115

Financial Planning and Analysis (FP&A) Finance Compliance Forecasting 115

PYMNTS

AUGUST 3, 2020

The ability of blockchain infrastructure to store data means transactions can not only be settled in real time, but can also be linked to one specific invoice, opening up the potential for automated reconciliation. “Here’s the big ‘ah-ha,'” said Long. ” Coexisting Systems.

Treasury 117

Treasury Currencies Invoicing Cash Management 117

PYMNTS

SEPTEMBER 6, 2018

The Reserve Bank of India (RBI) has reportedly sent letters to several heads of top banks in the country questioning why they have yet to fix gaps in their SWIFT systems, according to The Economic Times of India. Reports from the publication on Wednesday (Sept. “There is a degree of paranoia,” one unnamed source said.

Banking 40

Banking Reconciliations Auditing Economics 40

PYMNTS

NOVEMBER 26, 2020

These longstanding frustrations have recently become more concerning for both parties, however, as the COVID-19 pandemic has made paycheck speed more essential for businesses’ cash flow reconciliation and employees’ bill-paying needs. Meeting accelerating expectations in real time . P2P, the pandemic and on-demand payroll.

Cash Management 75

Cash Management Reconciliations Economics Budgeting 75

Simply Treasury

JUNE 3, 2021

automatic reconciliation, Straight Through Processing / STP, use of mass data, etc.). Certainly, standardization is a preliminary to automation, improving the organization of the department, increasing efficiency (e.g., The crisis has crystallized the need to digitize and accelerate the ongoing transformation.

Cash Flow Forecasting 130

Cash Flow Forecasting Treasury Forecasting Foreign Exchange 130

PYMNTS

OCTOBER 29, 2020

In many cases, we have non-payment players entering the payment industry, and this is causing [a] pretty big disruption to the economics of particular payment types or use cases.”. Automating things like reconciliations.[and] This is where relying on a cloud-based infrastructure can help.

B2B 85

B2B Compliance Reconciliations Leverage 85

PYMNTS

AUGUST 6, 2018

With the integration, small businesses in the country can use direct debit to automate their payment collection and reconciliation processes. We are in conditions similar to an economic war,” Central Bank Governor Abdolnaser Hemmati has said on television, according to Financial Times. “[But] In the announcement, Xero U.K.

Foreign Exchange 40

Foreign Exchange Pharmaceutical Currencies Reconciliations 40

PYMNTS

JULY 22, 2020

From a cash flow perspective, the ability to reallocate funds in real time, or to support payment processing that is faster and more affordable than other payment methods like cards, is vital to the financial health of firms amid economic uncertainty. ” Driving Ubiquity.

Reconciliations 90

Reconciliations B2B Cash Management Technology 90

PYMNTS

AUGUST 11, 2020

As the network explores how to tackle even more friction in B2B payments, Billtrust and Visa will also be exploring how to augment the solution to address key challenges like data integration to automatically support custom payment terms or reconciliation processes.

B2B 110

B2B Accounts Payable Reconciliations Healthcare 110

PYMNTS

JULY 10, 2020

In addition to heightened visibility and access to reconciliation data, corporate cards connect businesses to a valuable line of credit. The economic challenges resulting from the pandemic are likely to have a material impact on bank lending as well.

Entertainment 80

Entertainment Accounts Payable B2B Reconciliations 80

PYMNTS

DECEMBER 29, 2020

Given the economic climate and the level of uncertainty in the workplace, there’s been an uptick in criminal activity,” said Cyphers. According to Cyphers, that information can be a valuable tool in driving efficiency in reconciliation and cash application workflows.

B2B 82

B2B Accounts Payable Invoicing Reconciliations 82

PYMNTS

NOVEMBER 19, 2020

Payments Canada President and CEO Tracey Black said RTR will help both businesses and consumers drive long-term economic growth. The companies announced last week their partnership to develop a roaming management, reconciliation and settlement platform designed for the international telecommunications industry.

B2B 104

B2B Reconciliations Risk Management Compliance 104

PYMNTS

APRIL 6, 2018

Reconciliation offers up a challenge, then, and the costs are high, as the industry spends $2.1 Jacobs stated that “through the pilot, we hope to evaluate several incentive or economic models to ensure a self-sustaining network. billion across the continuum of care maintaining that data.

Healthcare 72

Healthcare Reconciliations Communication Economics 72

PYMNTS

AUGUST 13, 2019

The Economic Times of India reported that the initiative would also include a pan-India Edge computing and content distribution network. As reported, the company posted a job opening seeking a software development engineer to work within Amazon’s Advertising FinTech team to focus on a blockchain ledger, billing and reconciliation system.

Advertising 54

Advertising Reconciliations Securities eCommerce 54

PYMNTS

AUGUST 8, 2019

It’s costly because people run overdrafts or take out short-term loans, and it’s economically inefficient.”. “The longer it takes for payments to move, the longer it takes for us to get paychecks, for small businesses to get funds,” said Federal Financial Analytics Managing Partner Karen Shaw Petrou in an interview with the publication.

B2B 66

B2B Reconciliations Economics Accounting 66

Bramasol

JUNE 30, 2023

Global Economy May Have Seen the Worst of Inflation According to the Organization for Economic Co-operation and Development (OECD) , "Global GDP growth in 2023 is projected to be 2.7%, the lowest annual rate since the global financial crisis, with the exception of the 2020 pandemic period.

SAP 75

SAP B2B Leverage Analyzing Data 75

PYMNTS

APRIL 14, 2020

As a treasurer, maybe you would conquer the first few things, which are visibility and reconciliation, and then you would move into other niche areas that you want to automate further to add strategic value to the business.”. “Digitization is not about reaching a destination as you are constantly pushing the envelope,” Rangachari said. “As

Cash Flow Forecasting 92

Cash Flow Forecasting Treasury Foreign Exchange Benchmarking 92

PYMNTS

OCTOBER 22, 2018

Beyond payments, there is friction for corporates around reconciliation, Kaiser said. There can be change fees or refunds involved, so backing that transaction out of the system toward back-office reconciliation is not always easy. Some of the alternative payment brands may not understand the uniqueness of how airline tickets are sold.

Reconciliations 55

Reconciliations Finance Economics Numbers 55

PYMNTS

JUNE 1, 2020

The global pandemic has created public health and economic uncertainty on a scale not seen in a generation. The economic uncertainties force buyers and suppliers to want a much more transparent look at payments flows, in and out of their organizations and in real time. Getting Clarity About Immediate Access To Funds.

B2B 59

B2B Reconciliations Economics 59

PYMNTS

APRIL 15, 2019

In another news, PhonePe says it has hit the 2 billion mark for digital transactions on its mobile application, the Economic Times reported. The company said the system eliminates the need for physical payment terminals and makes the reconciliation of payments easier, among other benefits.

Banking 43

Banking Reconciliations Retail Economics 43

PYMNTS

DECEMBER 2, 2020

Consumers began tightening their belts after the pandemic was declared in mid-March, and the resulting economic downturn and widespread cash flow shortages had businesses directing their focus abroad to find new customers and business partners.

B2B 69

B2B eCommerce Reconciliations Invoicing 69

PYMNTS

SEPTEMBER 22, 2020

It’s not as if commercial cards — and, with them, favorable terms — are a (cash flow) lifeline to be cast aside in steadier economic climates. The B2B space is unlikely to see any backsliding here, said Leavitt, even on the other side of the coronavirus. Other advantages lie with card acceptance, which extend beyond the timing of the payment.

B2B 53

B2B Entertainment Reconciliations Economics 53

PYMNTS

JANUARY 25, 2021

As payments in this estimated $120 trillion market gather tailwinds, reconciliation is of the utmost importance to corporate clients, noted Koenigsberg. trillion, representing what could be a reluctance of end users to tap into credit until the economic picture brightens a bit. Debit spend was up 20 percent to $1.2

B2B 92

B2B CFO Reconciliations Entertainment 92

PYMNTS

DECEMBER 8, 2016

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.

Accounts Payable 64

Accounts Payable Invoicing Compliance Reconciliations 64