accounting

White Paper: AutoRek

How to Automate Cash Allocation Process? Organizations are typically distressed concerning upgrading to new technology however automation really saves businesses money by streamlining inefficient financial processes like manual cash allocation which might be terribly resource intensive. Cash automation will bring added value by increasing the speed at which transactions are made, scale back errors and increase productivity of staff by allowing them to focus on more value added tasks to create a more profitable risk free environment. AutoRek's solutions are purpose-built to improve the quality and efficiency of financial data management, from cost reduction and process efficiency projects, to improving adherence to regulatory reporting requirements. VanguARd™, an automated cash allocation tool matches amounts received in the bank in any currency to any format of remittance advice, approves the values and automatically applies the money to sales and debtors ledgers in order to match to unpaid invoices. The business benefits of AutoRek includes- reduces production costs of management information and the reliance on IT to cut data and produce reports, reduces financial and operational burden of regulation and improves visibility of adherence to service level agreements. Move ahead and read the following whitepaper that will address all your questions, including these: What are the key challenges in manual processing? How AutoRek Cash Application works? What are the key features of AutoRek's Cash Application Process? What are the business benefits of AutoRek?

White Paper: AutoRek

As we know, bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement. The goal of this process is to determine the differences between the two, and to book changes to the accounting records as appropriate.        The challenge in automating a lot of complicated reconciliations comes not within the matching, but in gathering the information from the myriad systems and services and making ready them to create “golden sources” on either side of the reconciliation. It is the “golden sources” that make matching effective, aid the analysis and resolution of the unmatched items and allow effective reporting. This white paper breaks the reconciliation method down into variety of basic tasks. Each of the five steps—Source, Explore, Enrich, Match, and Escalate—is applied to every reconciliation scenario to some greater or lesser extent. This white paper educates how building and automating simple reconciliations, as quickly as in Excel, allows automatic execution of the most complicated reconciliation and data management challenges running in ultra-high volume scenarios. Read the following whitepaper that will address the following questions : What are the best practices for Bank Reconciliation Processes? What are the challenges in automating more complex reconciliations? How to overcome the drawbacks of Excel-based solutions? How this 5-step approach can build and automate simple reconciliations?  

White Paper: Basware

Growing a business in today’s constantly changing business environment requires CFOs to get more from the Purchase to Pay cycle that governs so much of the cash that moves through the business. Networked Purchase-to-Pay solutions combine cloud-based business networks with automated accounts payable, procurement and payments capabilities to make access to financial services much easier for buyers and sellers. This whitepaper details the six critical components which must be considered by the businesses for ensuring the success of a  Purchase to Pay initiative. Businesses should look for the following six critical components when evaluating P2P solutions: Accounts payable automation: Process improvement remains the top concern in accounts payable departments e-procurement: Facilitates the purchase of goods and services through approved sources using an online shopping cart. e-invoicing: e-invoicing accelerate invoice cycle times to avoid late payment. e-orders: Networked Purchase to Pay solutions facilitate the electronic exchange of purchase orders, confirmations, and changes to orders between buyers and sellers. Global electronic payment: Migrating to electronic payments is the top automation priority of controllers surveyed by IOFM. Dynamic discounting: Buyer-funded financing that helps suppliers improve control and visibility over their cash flow