Watch for these common invoice scams
CFO Dive
OCTOBER 10, 2022
Mid-sized businesses are losing almost $300,000 annually to invoice fraud, which can also hurt supplier relationships, according to Branden Jenkins, COO of Medius.
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CFO Dive
OCTOBER 10, 2022
Mid-sized businesses are losing almost $300,000 annually to invoice fraud, which can also hurt supplier relationships, according to Branden Jenkins, COO of Medius.
Navigator SAP
MARCH 18, 2024
In this video demonstration, we'll show you the difference between the traditional, manual way of processing invoices in SAP and the power of automating this process using SAP Business Technology Platform (BTP). Effortless Automation with BTP : Then, we'll showcase how BTP streamlines the process.
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CFO Dive
AUGUST 9, 2024
By way of the latest deal, the software company seeks to further expand its international payments services for its business-to-business clientele.
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Future CFO
SEPTEMBER 3, 2024
Source-to-Pay (S2P) and Procure-to-Pay (P2P) specialist Valtatech is integrating with Microsoft Dynamics 365 and the Pax8 marketplace to drive Malaysia’s ongoing e-invoicing transformation, according to a press release. The post Valtatech integrates with Microsoft to drive Malaysia’s e-invoicing transformation appeared first on FutureCFO.
PYMNTS
DECEMBER 13, 2020
Paymerang , which works in accounts payable (AP) automation, has debuted its new Invoice Automation Solution, which a press release stated will help organizations with efficiency, accuracy, visibility and getting rid of manual paper processes. He added that it also helps companies go paperless via electronic processing and archiving.
CFO News
DECEMBER 4, 2023
CBIC has implemented two-factor authentication for e-waybill and e-invoice systems from December 1, heightening security measures within the goods and services tax systems.
Future CFO
FEBRUARY 11, 2024
Electronic invoicing, known as e-invoicing, is the automated exchange of invoice information using a predefined electronic format. It improves efficiency, reduces cost, and gets supplier invoices paid much faster. This guide walks you through the various approaches e-invoicing is being adopted across three ASEAN markets.
Navigator SAP
NOVEMBER 15, 2024
Another example is using standard invoicing processes in an enterprise resource planning solution (ERP). A fit-to-standard solution for invoicing relies on the industry standard invoicing processes and workflows within an ERP system instead of using invoicing processes that are atypical and require custom code.
CFO News
NOVEMBER 28, 2024
GST invoice verification: New advisory by GSTN in respect of availability of five official apps for e-invoice verification.
CFO News
MAY 10, 2023
Currently, the threshold for business annual turnover above Rs 10 crore is required to issue e-invoicing. The move is aimed at further improving compliance and further plugging gaps in revenue collection.
CFO News
SEPTEMBER 9, 2024
The 54th GST Council meeting concluded on Monday unveiled major reforms, including new Groups of Ministers, tax rate adjustments, and a voluntary B2C e-invoicing pilot, shaping India's tax landscape. ETCFO brings to you key highlights
PYMNTS
MAY 14, 2020
American Express is teaming up with Invoiced to help customers with an exclusive offer for 40 percent off an Invoiced subscription for the first two years. percent still receive invoice information via paper mail. percent still receive invoice information via paper mail.
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. It's just inefficient.".
PYMNTS
MARCH 10, 2020
Joust, a banking app in Austin, has announced it will pay users on their unpaid SXSW invoices to help them deal with the cancellation of the huge yearly festival, according to a release. ” Joust will use its invoice factoring tool, PayArmour, to fund the invoices.
CFO News
NOVEMBER 13, 2024
The GSTN advisory on the Invoice Management System (IMS) outlines how recipients can manage invoices in real-time, enhancing ITC accuracy and fostering transparency between suppliers and recipients.
PYMNTS
NOVEMBER 10, 2020
Accounts payable (AP) and payment automation provider AvidXchange has rolled out a connection with Concur® Invoice for vendor payments. Concur Invoice lets companies ingest and digitize invoices via machine learning, integrating the payments in one system to supervise expenditures. 10) announcement.
PYMNTS
JANUARY 25, 2021
To help customers handle their accounts receivable (AR) while conserving time and financial resources, pre-accounting technology company Expensify unveiled a bolstered invoicing feature. Barret said in the release that Expensify is the first to develop a product that knows that each invoice a user sends is a bill than another entity gets.
PYMNTS
JULY 27, 2020
Although there are countless ways a cybercriminal can swindle funds from a company — either from the outside or within — it’s often the invoice at the center of the crime. This week’s Data Digest looks at the latest in B2B payments fraud and the invoice’s role in supplier payment redirect scams, credential theft and more.
Future CFO
DECEMBER 28, 2022
The invoicing process encompasses much more than simply creating and transmitting an invoice. The total process cost per invoice includes the total cost of personnel, outsourcing, systems, overhead, and other allocations to these activities. per invoice. per invoice. Source: APQC. and top performers spent US$2.00.
PYMNTS
MAY 20, 2020
To that end, Ajay Agrawal , CEO and founder of SirionLabs , told PYMNTS, “invoice leakage” occurs when firms do not have the ability to review invoices from their suppliers on a “granular level,” which leads to missed opportunities to spot discrepancies.
CFO News
NOVEMBER 13, 2024
Input tax credit: The goods and services tax network (GSTN) has introduced a solution to help GST registered taxpayers into claiming the correct amount of input tax credit despite human error by the supplier in the invoice.
CFO Selections
JUNE 21, 2023
Invoice factoring, also known as accounts receivable financing, improves cash flow by selling your company's outstanding invoices to a factoring company for a fee. Invoice factoring can be a powerful tool for improving cash flow, but it needs to be used wisely as part of a well-considered overall financial strategy.
Future CFO
MAY 15, 2022
Finance leaders may have noticed one invoicing trend that emerged in the last couple of years – the way invoices arrive at their organisations has quite clearly changed. Now, with remote and hybrid work commonplace, most invoices are delivered through employees’ and the finance team’s email accounts. Automated verification.
Future CFO
JULY 24, 2022
ARQ, an Australian digital services provider, has selected MuleSoft to build efficient automation to streamline invoices, optimise onboarding and offboarding process, automate data processing, and support integration with Salesforce and ELMO software, Salesforce said recently.
PYMNTS
OCTOBER 6, 2020
Against that backdrop, Aavenir recently announced an update to the Invoiceflow application that is geared toward making automatic invoicing even speedier through artificial intelligence (AI)-based invoice extraction. The updates, the company said, will speed invoice processing by 10 times and cut processing costs by 80 percent.
PYMNTS
JANUARY 11, 2021
The country's Infocomm Media Development Authority (IMDA) has listed xSuite among companies whose electronic-invoicing products are suitable for use with the Peppol system. Singapore uses an invoice format called InvoiceNow. The associated workflow also ensures SAP-integrated, automated processing of incoming invoices.
PYMNTS
NOVEMBER 25, 2020
Companies long-used to sending and receiving paper invoices and checks are finding that digital methods can deliver funds and billing information at a far faster clip. B2B payments automation can save companies valuable time and make it easy for employees working from home to process invoices and reconcile payments.
PYMNTS
MAY 14, 2020
Invoice inaccuracies caused by either honest mistakes or deliberate fraud quickly add up if not caught and corrected, and unexpected monetary drains cause budgets to fall short of projections. Three-Way Invoice Matching. Forry noted that automating invoice processing and using three-way matching help prevent billing mistakes.
PYMNTS
APRIL 27, 2020
Challenger bank Shine , a French startup, has introduced a new program to insure invoices to help make sure they are paid, according to a TechCrunch report. With Shine’s new service, after an invoice goes unpaid for a certain amount of time, the bank contacts the other company to remind them to pay.
PYMNTS
JANUARY 13, 2021
Expense management technology provider Medius and international eDocument service company Pagero have collaborated to help companies handle digital invoices. The new collaboration lets their joint customer base get and handle digital invoices in different formats throughout the world, according to a Wednesday (Jan. 13) announcement.
The SaaS CFO
AUGUST 3, 2020
And how does a booking differ from invoicing and revenue? The post Bookings vs Invoicing vs Revenue | The SaaS Revenue Cycle Explained appeared first on The SaaS CFO. But what is a booking? SaaS is full of metrics, but in this case, we are mixing SaaS and accounting terminology to make things even more confusing.
PYMNTS
APRIL 16, 2020
To assist small- and medium-sized businesses (SMBs) in keeping their cash flow safe from unpaid or late payments on invoices, Tide has rolled out a new invoice protection offering with the help of Hokodo , according to a press release. Hokodo handles the debt collection on invoices that are late.
PYMNTS
APRIL 20, 2020
Finnish software firm Basware has announced an upgrade of its accounts payable (AP) automation solution to allow increased functionality for invoicing. AP Pro delivers a completely new user interface allowing easy tracking of invoices in all stages of processing,” said Basware Director of AP Automation Products Olav Maas.
PYMNTS
JANUARY 16, 2020
B2B invoicing and payments firm Crowdz has announced a new pilot aimed at connecting businesses to crowdfunding services to finance their unpaid invoices. 16), Crowdz announced it is rolling out what it claims to be the world’s first invoice financing marketplace, InvoiceXchange, in pilot phase.
CFO Share
MARCH 2, 2023
The three most common types of AP fraud are: Fake vendors and invoices fraud Check fraud Expense reimbursement fraud Fake vendor invoice fraud Fake vendor fraud can be perpetrated by your internal accountant or an external con artist. Fake vendor invoice fraud varies in sophistication.
CFO News
NOVEMBER 5, 2024
Starting April 1, 2025, businesses with an annual turnover exceeding ₹10 crore will face a 30-day limit for reporting e-invoices on the GST system. This change aims to prevent late tax payments and streamline the tax ecosystem. Previously, this restriction only applied to businesses with turnovers exceeding ₹100 crore.
CFO Dive
APRIL 8, 2024
Monitoring and keeping DSO in check is key to preventing cash flow difficulties, Allianz Trade’s Ano Kuhanathan says.
PYMNTS
JULY 8, 2020
Both offerings, American Express said in its announcement , will “help businesses streamline and automate their invoicing and expense management processes.” Employees will be able to pay company invoices using American Express cards from within Concur Invoice.
PYMNTS
NOVEMBER 3, 2020
The company has connected its SecurePay payment gateway solution within the accounting platform, allowing for SMBs to generate invoices and receive payment without having to leave QuickBooks. According to Yakov, it can certainly support digitization of B2B payments, with SecurePay able to support both ACH and card transactions. "I
CFO News
AUGUST 20, 2023
Individuals may soon get rewarded for uploading GST invoice on a mobile app as the government is likely to launch the long awaited 'Mera Bill Mera Adhikar' scheme soon.
PYMNTS
JANUARY 7, 2021
Payment processing technology developer PayJunction has rolled out a digital invoice function for companies that harness its virtual terminal offering, according to a Thursday (Jan. These workers can make an invoice, input particulars, connect it with a client’s work order or file and electronically send a request for approval and payment.
PYMNTS
JANUARY 21, 2020
According to Biller Genie CEO Thomas Aronica, that strategy begins with the invoice itself. “There is a very significant delay in the invoice-to-cash cycle,” Aronica told PYMNTS in a recent interview. Automating AR processes like invoice generation can significantly lower those costs by promoting digitization.
CFO News
MAY 7, 2023
In an advisory to taxpayers on May 6, GST Network said it has been decided by the competent authority to defer the imposition of time limit of 7 days on reporting old e-invoices on the e-invoice IRP portals for taxpayers with aggregate turnover greater than or equal to Rs 100 crore by three months.
PYMNTS
MAY 12, 2020
rolled out its Semantik Invoice cloud-based data acquisition product. The company said in an announcement that the out-of-the-box artificial intelligence (AI) technology has been shown to decrease costs and sizably reduce the time it takes for invoice processing, according to an announcement. days, AP processing is ripe for innovation.”
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