The team at Generation Tux is all about improving internal experiences to increase efficiency and improve operations. As a one-man finance team, they needed all the help he could get to automate and streamline financial processes. When he joined Generation Tux as the Controller, he found a disastrous Accounts Payable (AP) process in place. Found out how he turned it around.
In today’s world of constant technological advances, automation has become the norm in most areas of business. To stay ahead of the competition and drive growth more quickly, savvy businesses are using automation as a way to stand out. Herein lies the concept that automation is not only a priority but also a strategic advantage to your business. Find out why leading finance executives are making accounts payable automation a priority.
The benefits of invoice-to-pay automation go beyond the obvious cost savings and efficiency improvements. It is critical that when you build your business case you tie in the cost savings as well as the efficiency improvements. If management can see the clear cost-savings, they are more likely to greenlight your proposal to automate your invoice-to-pay process.
Cutting-edge companies are recognizing the opportunity to integrate technologies into their GL (accounting system) to optimize individual processes such as accounts payable and payroll. Learn more about how AP automation together with your ERP would add value to your accounting operations.
Every year, businesses of all shapes and sizes conduct budget planning. For most organizations, this kind of budgeting is a standard occurrence. Yet companies managing their accounts payable process without an automated process will hesitate to add this expenditure without understanding the true impact. In this paper we walk-through your budget planning with a focus on how automation could really change your balance sheet.
Modern finance teams are embracing AI to audit their invoice-based spend. With AI, they can review all of their invoices prior to payment to spot errors, fraud, and contract violations.
AppZen customers have identified 16 critical invoice audit and contract compliance use cases that only AI can make possible.
Invoicing and payments problems can take a variety of forms: fraudulent invoices, invoices that don't represent negotiated terms, or just plain duplicates.
Join David Wishinsky, Sr. Product Marketing Manager at AppZen, as he reveals 15 critical invoice audit and contract compliance use cases that AI makes possible.
Accounts payable departments at large enterprises pay thousands of invoices each month. With such a large volume of invoices, companies leave themselves at risk for over-payment and potential invoice fraud.
As your business grows and your vendor list gets larger, how do you stay on top of the validity of each invoice?
Spend-related regulatory violations come in the form of different types of payments or gifts, including those to sanctioned organizations or people; debarred organizations or people; organizations or people on an export control list; foreign officials or government-owned entities; politically-exposed people; and healthcare professionals or organizations.
How do you know if you have these violations hiding in your organization's expenses, contracts, or invoices?
It’s not easy to weed them out, and if you don’t have an automated, systematic approach, doing so is prohibitively time consuming.
What if you could use just one platform to detect all types of major financial crimes?
One platform to handle the analytical tasks of fraud detection, including:
Data processing and aggregation
Statistical/mathematical/machine learning modeling
One platform that could successfully reduce complex and time-consuming fraud investigations by combining extremely different domains of knowledge including Business, Economics, Finance, and Law. A platform that can cover payments, credit card transactions, and know your customer (KYC) processes, as well as similar use cases like anti-money laundering (AML), trade surveillance, and crimes such as insurance claims fraud.
Learn more about TIBCO's comprehensive software capabilities behind tackling all these types of fraud in this in depth whitepaper.
Much has been written about Payment Services Directive 2 (PSD2) and its potential to herald a new era of open banking where banks no longer have a monopoly on payment services. Instead they will be forced to provide full access to customer accounts to third parties looking to provide financial services of their own, on top of banks’ existing data and infrastructure.
All of this could prove to be true, just not on January 13th 2018, the deadline for national governments to transpose PSD2 into law. This is because there is still so much to be decided and clarified. The European Banking Authority’s longawaited regulatory technical standards (RTS) on strong customer authentication (SCA) were issued in March 2017 but missing some of the finer details, such as the methods to remotely access customer data and account information and the measures around the use of application programming interfaces (APIs) and screen-scraping.
Published By: Worldpay
Published Date: Apr 29, 2015
In 2014, the UK saw online sales exceed £10bn per month. For small businesses, getting online is a great way to increase revenue.
However, there’s no escaping the fact that small e-retailers are most at risk of suffering a data breach and that breaches are increasing. It is your responsibility to keep the card payment data of your customers safe and a failure to secure your systems could be a costly mistake which leads to penalty fines, lost custom and bad publicity.
Worldpay is the leading payments provider in the UK and Europe. Whilst Worldpay has fewer businesses suffering data breaches, compared to our market size, we have a unique oversight on most UK card data breaches. We have compiled our insight and advice into this guide so all businesses, new or old, can ensure they are prepared.
Published By: Medidata
Published Date: Nov 10, 2017
The following brief reviews current grant payment practices and explains how new software tools can transform the process,
efficiently solving the problem that first gave rise to sponsor-funded escrow accounts.
Web Application Threats Are Evolving. Are Your Security Efforts Keeping Pace? Today, Web application security threats are not only becoming more abundant than ever, but also more difficult to detect, and more complex to solve. Many organizations are responding to these unique vulnerabilities with traditional network security approaches. However, sophisticated Web applications threats require a more sophisticated security strategy. What’s worked in the past won’t necessarily work today; and what’s more, Web application security requires a comprehensive solution, not simply a series of a la carte provisions. For detailed steps toward improving your Web application security strategy, download the VeriSign® Enterprise Security Services white paper, Best Practices That Improve Web Application Security.
Revised Payment Services Directive (PSD2) is the European Commission (EC) and the European Banking Authority’s (EBA) newest regulatory directive to ensure customer security in the payments space, is upon us. In order to comply with these new regulations, you first need to ensure you have a good understanding of what they are, why they exist and how they will affect your organization’s business strategy moving forward.
Don’t let the potential business impact of PSD2 hang over your head. PSD2 can actually be a catalyst for your digital= transformation. With the right solution, you can provide a more secure, better user experience for your customers. If you are able to capitalize on PSD2 and implement a forward-thinking strategy, you can ultimately differentiate your brand from emerging competition — like neobanks, fintechs and wallet providers — and retain customer trust and loyalty.
Simply deploying a security solution cannot guarantee meeting every Payment Card Industry (PCI) requirement in full. This whitepaper discusses the challenges of PCI compliance and how security information and event management (SIEM) provides the data visibility, log management, end-point security and active response needed to demonstrate and meet each of the 12 PCI compliance requirements.
Batch Application Integration allows you to process critical transactions, such as payment authorizations, in real-time, and cue fulfillment (such as packaging and shipping) or other lower priority actions for batch processing. Learn more about Batch Application Integration, and how BMC CONTROL-M makes it possible.
Recent surveys of IT managers revealed two commonly held beliefs: database regulations are the most challenging to comply with, and of all regulatory standards, the Payment Card Industry Data Security Standard (PCI DSS) the toughest.
Manage medical imaging and documentation better by presenting patient information – in context – in one location. Read on to see how a flexible, enterprise patient viewer helps healthcare IT ensure patient and clinician satisfaction while supporting the market’s healthcare delivery and payment system initiatives.
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