article thumbnail

How to setup financial controls at a startup

Nanonets

Setting up the right financial controls is crucial to a business, as inaccurate financial reporting can lead to incorrect analyses and impact decision-making, potentially leading to poor strategic choices and losses. Several businesses incur heavy losses or even have to shut down upon such financial and accounting errors.

article thumbnail

What Does Accounts Payable Success Look & Feel Like?

AvidXchange

The problem of exceptions is only growing as CFO Daily News reported about one-fourth of invoices were flagged for exceptions in 2020. This change in how to do business comes down to a new way of thinking and a new mindset about how to run your financial operations. That’s time and money your business doesn’t need spend.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Sara Grafals of Speedway Motorsports Embraces Automation

AvidXchange

Many of you probably are interested to know a former motorcycle rider, but she’s been a leader with Speedway Motorsports since June of 2020 and has a strong history of working in events and the entertainment industry. So that we implemented the accounts payable process with AvidXchange in March of 2020.

article thumbnail

Here’s How a Leading Credit Union Streamlined Accounts Payable Processes and Divorced Paper

AvidXchange

James McHale, CFO of LAFCU, Shares How AvidXchange Helped Create Efficiencies from Purchase to Pay Since 2020, James McHale has served as LAFCU’s Chief Financial Officer. A lot of our financial operations stemmed from the mid-eighties. The credit union’s senior accountant was spending 60-75% of her time managing AP.

article thumbnail

The Guide to Invoice Audit in 2024

Nanonets

Ensure accountability and transparency in every step of your financial operations. This detailed history of actions, approvals, and modifications provides a robust documentation trail for both internal and external audits. Schedule a Demo

article thumbnail

What Are The 5 Types Of Crowdfunding And Which Suits Your Business?

Invoicera

In 2020 alone, the global crowdfunding volumes soared past $34 billion, highlighting its massive appeal and effectiveness, as per Statista. Want To Save Time In Financial Processes? Automate Financial Operations With Invoicera Get A Free Trial Book Free Demo FAQs Which type of crowdfunding is best for my project?

Tax 52
article thumbnail

General Ledger (GL): Definition, Significance, Implementation

Nanonets

Whether you're a small business owner, a finance professional, a CFO, or simply curious about the financial operations of a business, this blog series promises to equip you with a thorough understanding of the General Ledger, its significance and it's effective implementation within a business.