White Paper: Gravity Software
Company leaders are increasingly looking to CFOs for strategic direction, not just the latest financial reports EY Germany’s Dr. Marcus Gantzkow noted that CFOs are gradually taking on the role of “Chief Value Officer.” “CFOs today are expected, from an internal management perspective, to provide real-time insights from data of all types, also increasing beyond the scope of purely financial insights,” EY says. This is due in large part to the decreased cost and increased accessibility of technologies such as cloud-based systems and instruments for data analytics, as well as “greater clarity about key analytical areas.” In an economy marred by uncertainty – rampant inflation, unpredictable supply chains, an evertightening labor market and fluctuating consumer demand – it’s imperative that business leaders stay a step ahead of whatever crisis may be coming next. Business intelligence tools can help companies in many ways, including: • Strengthening competitive advantage • Driving innovation • Improving collaboration among departments • Uncovering opportunities for growth and improvement • Reducing risk exposure This is especially true for multi-entity organizations, which often have several silos of information but no single source of truth
White Paper: Statement Matching
The purpose of this document is to discuss the benefits of supplier statement reconciliation and why Accounts Payable departments should be more proactive. The Challenge Accounts Payable resources are limited, so the priority is always to process invoices through to payment on time. Suppliers share the same priority and consume significant AP resources, following up invoice submission with queries to check invoices have been received and when they are going to get paid. Paying any suppliers late increases the workload in AP as suppliers submit duplicate invoices, further queries and ultimately disruption to the business if they put the account on stop. All of this leads to Accounts Payable being largely a reactive process, which makes it difficult to ever free up enough time to be more proactive and drive efficiencies as a result. Reconciling supplier statements is a key control that enables Accounts Payable to check if all invoices/credits have been received and if there are any errors on the ledger to resolve in order to pay suppliers accurately and on time. Reconciliations are all too often done on a reactive basis, on request by suppliers or when AP recognises a supplier account needs to be cleared. If Accounts Payable could routinely reconcile their top supplier accounts, proactively on a monthly basis, then all the errors would be resolved before they become an issue - More suppliers will be paid on time, queries and duplicates will reduce which improves relationships with suppliers and reduces workload in AP. The process of reconciling statements manually is very time consuming and it’s the first thing to suffer in a busy AP department, so we cannot reconcile anywhere near the volume of statements we should be doing. There is no visibility, audit trail or reporting to manage the process, so we don’t know how many or what types of errors there are, whether they have been followed up and what the next actions are. Automating the process would enable a much higher volumes of statements to be reconciled, significantly improve controls, proactively identify and resolve issues, reduce supplier queries and gain valuable insights into AP processes to identify where controls could be improved to fix root cause.
White Paper: Redislabs
The speed of the digital economy has fundamentally transformed the expectations of today’s consumers. Modern financial institutions need real-time responses to fight digital disruptors, bring new services to market, and deepen customer relationships. Innovative leaders in financial services have transformed their approach for software architecture to deliver instant personalization, fraud detection, transaction scoring, investment decisions, and more. Still, many financial institutions currently use legacy database architectures that can’t keep up with today’s demands—they don’t scale gracefully and aren’t fast, flexible, or reliable enough for real-time usage. Download this white paper to learn strategies for becoming a competitive financial leader and break free from the constraints and bottlenecks of traditional databases. Top Reasons to Download: Understand the technology trends driving the FinTech revolution. Harness real-time speed for use cases like customer on-boarding, investment analysis, credit decisions, customized offers, fraud analysis, and transaction scoring. Optimize your data-layer to support better performance and faster time to market for financial applications.
The Roadmap to Business Continuity
White Paper: Basware
AUTOMATION ENABLES BUSINESS CONTINUITY In challenging times, a reliance on physical paper and manual processes significantly slows down the entire payables process, and in some situations makes it impossible to keep up with your normal business processes. But there’s a way you can minimize disruptions to your financial supply chain and day-to-day business. Automation. Automation does more than just speed up the process – it mitigates risk, supports a flexible and remote work environment, offers real-time insight into exactly where your business stands at all times, guarantees you can take care of your suppliers, and ultimately provides visibility no matter where you are or what’s happening in the world. To bounce back from today’s challenges without major economic fallout, businesses need data to not only make the right decisions but also make them quickly. We’ve now seen how critical it is to have visibility over your global supply chains for resilience and continuity to prevent shortages, ensure safety, maintain profitability, and future proof your business. In times like these, automation allows you to focus on what’s important – employee welfare, minimizing supply chain disruptions, and business continuity – instead of getting caught up in manual, repetitive processes. It’s about more than just making money – it’s also about ensuring the safety of your employees and protecting the supply chain.