Gaviti

JANUARY 10, 2023

The good news is that all financial professionals can learn how to prepare a company to masterfully handle economic uncertainty. Why Is a Dynamic Cash Flow Planning Process So Important in 2022? By adopting a dynamic approach to cash flow management, CFOs can better optimize their financial operations for maximum profitability.

Budgeting 98

Budgeting Accounts Receivable Accounts Receivable Account Receivables 98

MineralTree

DECEMBER 29, 2022

In this blog, we explore the key issues and trends that CFOs must tackle, and offer practical advice on how to prepare for these challenges in order to capitalize on the opportunities of financial digital transformation. What is Financial Digital Transformation? Why AP Automation is Key for Financial Digital Transformation.

AP 52

AP Accruals Financial Operations Financial Operations 52

AvidXchange

JULY 14, 2022

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. The labor and time-intensive work kept them from adding more strategic value to their organization. “A We had multiple layers of spreadsheets that made tracking and processing AP difficult.

Accounts Payable 52

Accounts Payable Accounts Payable AP Financial Services 52

MineralTree

AUGUST 24, 2023

Are you relying on the current accounts payable (AP) workflow in QuickBooks Desktop or Online to manage your financial operations? The AP Workflow With QuickBooks and Automation Finance professionals ranked AP as their top priority for digitization and automation in our 2022 State of AP Report — and for good reason.

Accounts Payable 70

Accounts Payable Accounts Payable QuickBooks AP 70

Nanonets

SEPTEMBER 21, 2023

The implementation of  CFDI 4.0  began on January 1, 2022, with a testing phase running until April 30, 2022. on January 1, 2022, with a testing phase running until April 30, 2022. This streamlined process not only saves time but also enhances accuracy and efficiency in financial operations.

Invoice Processing 40

Invoice Processing Invoicing Tax Billing 40

AvidXchange

JUNE 28, 2024

From cash to crypto, payment technologies have changed substantially over the years, shifting how businesses transact with suppliers and manage financial operations. PYMNTS reports that real-time payment transaction volume is expected to hit $8.9 As of May 2024, that number had ballooned to 758.

AP 52

AP Financial Operations Financial Operations Accounting Software 52

Nanonets

APRIL 12, 2024

  Challenges and Risks of Acounts Reconciliation Outsourcing  It is essential to recognize and address the potential challenges and risks associated with outsourcing reconciliation services: Data Security Concerns: One of the primary concerns when outsourcing accounts reconciliation services is the security of sensitive financial data.

Account Reconciliation 52

Account Reconciliation Reconciling General Ledger Bank Reconciliation 52

Nanonets

SEPTEMBER 22, 2023

Segregating these functions within different departments or personnel helps mitigate the risk of fraud and ensures financial integrity. By paying equal attention to both payables and receivables, businesses can optimize their cash flow, maximize working capital, and maintain stability in their financial operations.

Accounts Payable 52

Accounts Payable Accounts Payable General Ledger Accounts Receivable 52

Nanonets

SEPTEMBER 21, 2023

Example of an invoice processing table: Invoice Number Vendor Invoice Date Amount INV-001 ABC Supplies 2022-05-10 $1,500 INV-002 XYZ Inc. 2022-05-15 $2,300 INV-003 123 Manufacturing 2022-05-20 $1,800 In conclusion, streamlining invoice processing is crucial for efficient accounts payable management.

Accounts Payable 40

Accounts Payable Accounts Payable Invoice Processing Accounting 40

Gaviti

MARCH 6, 2023

Cash application solutions are an integral part of financial operations. By 2022, that number had dropped to 50% , but MFA still plays a critical role in security. They can streamline and automate the cash flow planning process while making it easier to manage payments and keep track of transactions. What Is a Cash Application?

Customer Service 52

Customer Service Auditing Invoicing Billing 52

Nanonets

FEBRUARY 26, 2024

between 2022 and 2029. 7 Steps to automate your Accounts Payable Automating your accounts payable means unlocking a new level of efficiency and precision in your financial operations. According to  a survey by Data Bridge Market Research , the accounts payable automation market is projected to reach a value of USD 5,809.38

Accounts Payable 52

Accounts Payable Accounts Payable AP Data Entry 52

Nanonets

SEPTEMBER 25, 2024

In today's complex financial landscape, businesses are drowning in a sea of bank statements. In 2022, a staggering 98.6% of Americans held transaction accounts , generating an unprecedented volume of financial data.

Financial Reporting 52

Financial Reporting Data Entry Accounting Software General Ledger 52

AvidXchange

MARCH 13, 2023

Overturf has steered financial operations within construction companies for more than 25 years. Overturf called these statistics, “more than concerning.” Construction labor shortages extend beyond the skilled trades to internal operations. To them, that’s the highest level on record. So it’s a real problem.

Invoicing 52

Invoicing Purchase Order Billing Accounting 52