PYMNTS

JANUARY 26, 2021

Usually, the auditing workflow involves looking at expense reports filed by employees, with a focus on identifying potentially erroneous or even fraudulent transactions. Digitizing and centralizing spend across various departments and workflows is the first step to enhancing the auditing process, said McCrossan.

audit 75

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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. I'd be willing to be that any controller or CFO that doesn't have an automated auditing process is worried about it.". A Straightforward Challenge.

Technology 90

Technology B2B audit accounts payable 90

PYMNTS

JUNE 1, 2016

Accounts payable departments can often buy their corporation a few more days without paying suppliers thanks to the age-old excuse: “The check’s in the mail.” “If the accounts payable process sounds ancient and arcane, add in the headaches of answering anxious vendor calls (‘the check’s in the mail!’),

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PYMNTS

AUGUST 19, 2019

Firms auditing expenses through manual processes and outdated technologies risk missing the chance to flag erroneous or fraudulent submissions from vendors and employees. Deploying technology — especially artificial intelligence (AI) — can streamline the auditing process and boost cost savings significantly.

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audit accounts payable Technology Healthcare 56

PYMNTS

OCTOBER 6, 2020

The pandemic has upended supply chains, and upended accounts payable (AP) processes – requiring companies of all sizes and types to move toward digital (and high-tech-powered) means to transform back-office functions. And emails, he said, also do not serve as the best way to audit approval cycles.

AP Processes 93

AP Processes Technology accounts payable audit 93

PYMNTS

FEBRUARY 19, 2018

You could call accounts payable (AP) the last mile of payments in a way. In the B2B realm, the movement to get suppliers paid on time may become a struggle, mired as AP management is in the paper chase of manual effort. These are firms that have failed audits or are about to fail audits.

AP Automation 51

AP Automation Technology audit accounts payable 51

PYMNTS

MARCH 10, 2020

As more technology emerges to sit between a company’s accounts payable (AP) platform and its vendor’s accounts receivable (AR) portal, service providers are looking to ease friction in a multitude of ways, from accelerating payments and cash flows to easing contract negotiations. Crowdz Pilots Invoice Crowdfunding.

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PYMNTS

FEBRUARY 24, 2020

Financial automation and data intelligence solutions firm Glantus has acquired the audit credit recovery firm JPD Financial , creating a business with an approximate $12 million turnover, Glantus announced on Monday (Feb. The firm also offers accounts payable auditing and master data cleansing. .

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PYMNTS

SEPTEMBER 10, 2019

In a statement, Coatue Management Senior Managing Director Thomas Laffont said that artificial intelligence (AI) enables AppZen to deploy more sophisticated analytics and automation within its expense management solution, which allows businesses to assess expenses, automate expense report audits, and identify savings opportunities. “AI

audit 43

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PYMNTS

APRIL 8, 2020

This stands in stark contrast to how the accounts payable (AP) departments at many businesses process payments. According to one recent study, enterprise-level firms were able to audit less than 10 percent of expense reports, potentially allowing dubious expenses to slip through the cracks.

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PYMNTS

AUGUST 3, 2020

The company’s CEO and founder, Shawn Askinosie , recently spoke with PYMNTS about the pandemic’s effects on transactions in the chocolate world and which accounts payable (AP) tools could become more important for SMBs. The pandemic has brought about new frictions, and SMBs have responded by examining their payment processes.

AP Processes 81

AP Processes accounts payable Missouri B2B 81

PYMNTS

SEPTEMBER 28, 2020

Smooth B2B operations depend on robust data gathering, but many companies rely on manual methods to collect information and complete supplier enrollment. Corporate buyers that fail to adhere to these regulatory requirements could face audits, fines and tax withholdings. Digital Fixes.

accounts payable 66

accounts payable B2B Tax audit 66

PYMNTS

NOVEMBER 26, 2019

Organizations evaluating the return on investment (ROI) of accounts payable (AP) automation find obvious benefits from cost savings, early payment discounts and rebate-earning opportunities. He further explained how such a business-to-business (B2B) innovation gap can impact the logistics industry. .

AP Automation 52

AP Automation Technology B2B accounts payable 52

PYMNTS

JANUARY 17, 2018

Israch said he’s observed increased adoption and momentum for AP (accounts payable) automation and cross-border needs — and not just at his own company. Tipalti launched the program with a few partners already queued up: B2B CFO, EVO Payments International and SD Mayer.

AP Automation 40

AP Automation Accounts Payable Automation accounts payable accounting and finance 40

PYMNTS

NOVEMBER 10, 2017

Especially for businesses that rely on manual expense reports, management and auditing processes, an employee that fudges a dollar amount here and there, or a worker who accidentally submits an expense report twice, mean companies can easily fall victim to fraud, both intentional and unintentional. It’s a very involved process.

accounts payable 44

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PYMNTS

JUNE 15, 2017

The company added that the integration of these capabilities into its offering is part of a broader effort to innovate in the areas of accounts payable, P2P, supply chain management and working capital optimization. With the IBM Watson integration, that information can be found and incorporated into pricing audits.

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PYMNTS

JULY 6, 2020

This week’s look at the latest cases of B2B fraud finds a surge of business email compromise (BEC) attacks, as well as emerging trends in fraud related to government coronavirus relief efforts. 34 percent of furloughed employees were asked to commit furlough fraud , according to a survey from U.K. .

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PYMNTS

JUNE 22, 2017

Even with the rise in eInvoicing and electronic B2B payments, disconnects, miscommunication and erroneous transactions plague the accounts payable department. Finding where those errors are via manual auditing can be a headache, too. According to Thompson, those mistakes have a variety of factors behind them.

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PYMNTS

JANUARY 14, 2021

Sameet Gupte , CEO of EvoluteIQ , recently explained to PYMNTS how this strategy can support what he describes as "hyperautomation," with potentially significant benefits for financial workflows in areas like accounts payable and accounts receivable. Surmounting The Data Hurdle.

Technology 70

Technology Finance accounts payable accounting and finance 70

PYMNTS

MARCH 28, 2019

Automated expense report auditing company AppZen is introducing a new spend auditing platform to analyze supplier invoices using artificial intelligence (AI).

accounts payable 46

accounts payable audit Technology accounting and finance 46

PYMNTS

JULY 14, 2016

SirionLabs provides multinational companies with a way to manage and analyze supplier contracts and provide auditing and other solutions with the information. ” The executive added that, while many companies understand the need to manage vendors and audit contracts and deals, they can be overwhelmed by the data involved in the task. .

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CPA Practice

APRIL 30, 2024

We also help you understand and validate key exemptions and reduce audit risk. E-Invoicing Compliance for Continuous Transactions Controls: Add transaction compliance to accounts receivable and accounts payable processes with industry-leading B2B e-invoicing and B2C e-receipt capabilities.

Tax 52

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PYMNTS

FEBRUARY 13, 2018

As companies grow and go global, manually processing payments and accounts payable (AP) can be a hassle. A chief financial officer and his or her team can not only spend hours managing B2B payment operations, but employees can also introduce risk into every step along the way. Sub-Brands.

accounts payable 41

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CPA Practice

MAY 10, 2024

We also help you understand and validate key exemptions and reduce audit risk. E-Invoicing Compliance for Continuous Transactions Controls: Add transaction compliance to accounts receivable and accounts payable processes with industry-leading B2B e-invoicing and B2C e-receipt capabilities.

Tax 52

Tax Technology B2C accounts payable 52

PYMNTS

OCTOBER 22, 2019

Accounts payable technology company AvidXchange is targeting the healthcare industry with payments and invoicing offerings. The technologies can support the industry’s HIPAA compliance and other regulatory requirements with elevated financial reporting and auditing capabilities.

AP Automation 40

AP Automation Healthcare Technology accounts payable 40

PYMNTS

FEBRUARY 6, 2020

That makes this B2B relationship unique to buyer-supplier relationships in other industries, noted Pierce, introducing similarly unique financial arrangements between partners. “You’ll start to see things like alternative fee arrangements rather than hourly billing for legal work, which is the traditional model,” he said.

Legal 52

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Going Concern

NOVEMBER 17, 2022

There are online tools to manage accounts payable and receivable (AP and AR) for you. We know some of these topics can be difficult to mull over, which is all the more reason to take an inventory of your processes (audit pun not intended) and ask yourself if what you’re doing now is really working for you. About Melio.

Technology 98

Technology Start-ups accounts payable B2B 98

PYMNTS

NOVEMBER 30, 2018

the accounts payable [AP] department), where employees can deliberately report incorrect spending, overstate payments or even create fake vendors. Take, for instance, the case of falsifying a vendor to send payments from the accounts payable department. The channels through which embezzlers commit their crimes vary, too.

accounts payable 55

accounts payable payroll Technology accounting and finance 55

PYMNTS

MARCH 26, 2018

Complex tax law has been linked to the rise in eInvoicing in B2B commerce, according to Julie Park, managing director of VAT and customs duty at The VAT Consultancy. VAT regulations are behind the latest updates to procure-to-pay company Direct Commerce, which offers a range of services for B2B suppliers and buyers to facilitate business.

Technology 40

Technology Procure to Pay Platform Accounts Payable Automation accounts payable 40

PYMNTS

MAY 12, 2016

What’s next for enterprise mobility could be anyone’s guess, but some analysts have made their prediction: accounts payable. The firm broke it all down in a recent report: “ 3 Ways Mobile Solutions Address Today’s Top Accounts Payable Challenges.” Streamlining Exceptions Resolution.

accounts payable 40

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PYMNTS

SEPTEMBER 29, 2020

Advances in artificial intelligence (AI) and automation technology has introduced a whole host of ways to help corporate finance teams from accounts payable (AP) to accounts receivable (AR) recover hours lost to what has traditionally been manual tasks.

Technology 59

Technology accounts payable accounting and finance Finance 59

PYMNTS

AUGUST 12, 2019

percent of an enterprise’s non-payroll business spend is accounts-payable based and 3.7 Most enterprises, found AppZen, that don’t use AI only audit up to 10 percent of spend, while companies that use AI are able to audit 100 percent of invoices, contracts and expenses. percent is travel and expense (T&E)-based.

Sports 59

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PYMNTS

AUGUST 21, 2019

The drive to eliminate paper in the accounts payable process, to cut the steps that lead to inefficiencies, continues to get a boost from technology. Legislation like the Sarbanes-Oxley Act and others have put pressure on companies to be able to show an auditable and measurable process in all their financial systems,” Flynn said.

AP Processes 46

AP Processes AP Automation Technology accounts payable 46

PYMNTS

FEBRUARY 6, 2019

Internal company audits, review of employee expense reports, supplier on-boarding, accounts receivable, accounts payable and procurement are just a few areas of corporate finance that are on-path to become entirely automated.

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MineralTree

FEBRUARY 29, 2024

Efficient digital payments are critical for accounts payable (AP) teams to streamline the AP process and maintain strong relationships with vendors. QuickBooks is a full-featured accounting system with accounts receivable and accounts payable functionality. Does QuickBooks have a payment processing system?

AP Automation 52

AP Automation quickbooks Technology AP Processes 52

PYMNTS

APRIL 11, 2017

When Amazon announced the launch of its B2B service, Amazon Business, in the U.K. B2B payments require enhanced data for proper audit, reporting and purchasing control,” said Citi Treasury and Trade Solutions Global Commercial Cards B2B Product Head Morgan Salmon in another statement. “We

B2B 40

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PYMNTS

AUGUST 24, 2017

More than half of accounts payable departments said they don’t partner closely with internal audit teams, while 82 percent have no connection to internal enterprise security teams. In general, he said, companies are aware of the risk of fraud in their accounts payable departments.

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