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Automating Cash Allocation

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?

Managing Your Financial Controls

White Paper: AutoRek

How to manage your financial controls gaining efficiencies, mitigating risk and enhancing controls? Financial control must contend with complicated data environments, regulatory pressures and ever-present need to gain efficiencies. As businesses become more ascendable, a tactical solution to collate or analyze huge sets of data is no longer sustainable.  A robust process is needed that can manage financial controls and track transactions and accounts through their lifecycle. Managers would like access to key data in period of time and have problems escalated to them as they happen. This white paper informs how dashboards and workflows can accomplish that— from assignment of individual responsibility to account attestation and regulatory reporting, providing a strong robust automated financial control framework to completely support financial management. This whitepaper addresses present-day financial controls questions, such as : How to manage financial controls and track transactions and accounts through lifecycle? How to build a robust control environment and how to deal with complex data environments? What are the risks of tactical solutions? How to control the period end process? How a financial control framework supports financial management?

MiFID II data reconciliation: A practical guide

White Paper: Duco

Data risk is an increasing challenge in the financial industry, for the innumerable processes that need to be taken care, before reporting the data to the regulators. It is extremely important to stay complaint and maintain data quality for Markets in Financial Instruments Directive II (MIFID II) during data reconciliation. Duco Cube with its powerful and flexible reconciliation platform enables users to navigate directly to any underlying issues if and when they occur. The company is a completely secured hosted service that can easily support data reconciliation till the end and also ensure the accuracy and consistency of the same throughout. Find out more about the Duco Cube and update your financial data through the Whitepaper and address your concerns How Duco Cube helps firms through the lengthy ETL processes without transforming the projects? What are the key factors to be considered for MiFID II data reconciliation? How can ARMs reporting be handled with Duco Cube?

MiFID II / MiFIR Transaction Reporting: A Practical Guide

White Paper: Duco

One of the main criticisms of the original MiFID was that national regulators did not enforce the directive with the same zeal across Europe. The list of financial instruments covered has been extended to almost all instruments traded in European markets – with particular emphasis on the OTC derivatives market that was previously out of scope for MiFID I. The issue with making this distinction across so many different instruments is one of the main reasons why the MiFID II and MiFIR implementation date has been delayed twice from its original start date of January 2015. While regulators have not specifically outlawed the use of spreadsheets and UDAs, it is commonly accepted that under MiFID II, organizations need a much more robust and scalable approach to data control. What are the data problems that MiFIR transaction reporting requirements are likely to cause? What is the impact of the new regulations on firms? What is the cost of non-compliance? Move ahead and read the following whitepaper that will address all your questions, including these: How to identify traders or algorithms involved in the decision and execution process of a transaction? Which general fields will require extra reconciliation steps? What are the number of data fields required on transaction reports and the reporting requirements? How to trade instruments on an approved venue? Which legacy systems can be replaced and which ones are difficult to scale?

Don’t Wreck your Recs: Achieve a Golden Source for your Financial Controls Data

White Paper: AutoRek

Reconciliations form the foundation of a tightly controlled finance or operations department in any organization. Transparent, up-to-date and accurate financial data is not just essential for regulators or auditors, but it is increasingly an important tool for the executive branch to shape corporate strategy. Building an automated reconciliation framework can be an expensive, complex and time consuming process, tying up crucial business and IT resources with often the wrong result being delivered. This whitepaper explores the benefits of using an automated reconciliations solution, by adopting an iterative 6-step approach to perfecting your financial controls regime. It also explains the typical benefits your firms may receive in the immediate period post implementation, and recurring thereafter. Key takeaways from this whitepaper: Different reconciliation deployments The perfect Golden Source for all of your financial control data Most common pitfalls of manual or semi-automated reconciliations and financial data management

Secure identity and data in a hyper-connected world

White Paper: I-Sprint Innovations

In the digital era, financial institutions need to meet and exceed the expectations of a new generation tech savvy users with digital broadband access to on-demand cloud-based services via a wide range of mobile devices. In order to earn customers’ trust and confidence in their digital channels, financial institutions will have to secure identity and manage cross-channel access while leveraging mobility and the cloud. This whitepaper provides insights on how financial institutions can secure identity and data in a hyper-connected world where the data center perimeter has blurred and the enterprise attack surface has radically expanded with increased cloud adoption and mobility. Case studies illustrating how financial institutions are implementing prudent steps to engage customers across multiple channels Ultimate aim of the omni-channel initiatives Emerging methods of authentication How to boost security and compliance while ensuring differentiated customer experience in omni-channel service delivery

7 Ways Financial Institutions can Leverage Technology for Competitive Advantage

White Paper: Trigent Software

In the present scenario, financial institutions are tired of the proliferation of technology innovations. Unless, financial institutions are ready to replace or transform their IT architecture, their challenges in the next decade will be daunting. This whitepaper highlights the impact of technology failure and its crippling impact on a financial institution and how technology can help reduce risk, be more cost effective and provide strategic value. Key takeaways from this whitepaper: Defining the financial institutions’ key players and their challenges How can financial institutions leverage technology for competitive advantage Advanced Content Security and Data Loss Prevention Key IT business drivers that the financial industry needs to focus on

Gamifying Cybersecurity for the Financial Services Sector

White Paper: Circadence

Cyber‐attacks and threats against the financial services sector are ongoing – common targets include banks, payment processing companies, investment firms, and other organizations that manage financial transactions. A 2016 study reported that 83% of financial services companies cite defending against cyber threats and protecting personal data as one of their biggest challenges in building or maintaining their reputation over the next year. Gamification has the potential to bring a financial company's cyber security posture to the next level, producing both value and competitive advantage. Gamification allows companies to best determine how they direct their resources toward mitigating vulnerabilities and threats. Key takeaways from this white paper: Overview: Cyber‐attacks and threats against the financial services sector  Gamifying Cybersecurity: An opportunity for financial services companies Project Ares: Solution to the Cybersecurity training gap ‐ a gamified training platform Preserveing cyber team’s footprint: For future analysis, tracking of growth, and to facilitate strategic role assignments

6 Critical Components of a Successful Purchase-to-Pay Initiative

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

5 Ways Electronic Invoicing Helps Businesses Get Paid Faster

White Paper: Basware

Electronic invoicing delivers efficiencies across the accounts receivable cycle: invoice creation, invoice delivery, dispute management, posting, and reporting and analytics. Most impor­tantly, reducing Days Sales Outstanding (DSO) with electronic invoicing enables businesses to reinvest more quickly to drive company growth. This white paper details the inefficiencies of pa­per-based billing processes, and shows five ways that electronic invoicing accelerates the accounts receiv­able cycle, and, in turn, greatly reduces DSO. Invoice preparation: With electronic invoicing, businesses can virtually eliminate the time required to prepare invoices. Invoice presentment: Sending paper invoices internationally can add days or weeks to the invoice delivery process. Dispute resolution: Resolving disputed invoices Posting: Consolidating payments and remittance information received via various channels Reporting and analytics: To manage all of their invoices from a single place for complete visibility and control across their accounts receivable processes

Are You A Full-Stack CFO?

White Paper: Mineraltree

The most basic definition, of Chief Financial Officer (CFO) is “the senior manager responsible for overseeing the financial activities of an entire company.” But, this definition is actually quite narrow. A tech savvy (full stack) CFO uses technology to drive innovation across the four faces (steward, operator, strategist, and catalyst) to lead the charge in improving efficiency, control, cost savings, and revenue enhancement across the finance department. This whitepaper provides insights on how the other roles of a full-stack CFO— catalyst, strategist, steward, and operations— can propel the company forward and where the full-stack CFO can most impact operations. Key takeaways from this whitepaper: The Role of the CFO Become a Full-Stack CFO The Impact of a Full-Stack CFO The Outcome of the Full-Stack CFO

8 Financial Reports Every Facilities Manager Needs (and Every CFO Loves)

White Paper: ServiceChannel

Facilities managers are tasked with all kinds of responsibilities, from ensuring the look and feel of a company’s locations remains in top notch order to literally keeping the lights on. Being a facilities manager is critical to maintain visibility into all aspects of the operations, particularly from the financial perspective. This whitepaper discusses all the metrics that are the key indicators many facilities managers use to stay on top of their game. It highlights the following key questions: What are the metrics that are important for a facilities management group to track and report on to the finance group? What are the numbers that modern facilities managers share with their CFO? What financial benchmarks and data points should you regularly use to optimize performance and make smarter decisions?

PERCEPTIONS VS. REALITIES: 5 common myths about today’s automated workflow applications

White Paper: XTRAC Solutions

Today, workflow automation solutions tailored to financial services are available that allow organizations to easily adopt best practices and improve productivity while continuing to hold on to their unique culture and identity. This whitepaper exposes the five common misperceptions about automated workflow applications and accentuates the reasons why financial services executives should take action sooner rather than later. It addresses key questions like: How can automated workflow applications help your firm? What are the ways to ensure a successful and smooth automated workflow implementation? What are the several ongoing direct and indirect costs of continuing to operate in a manual or semi-manual operating environment? How can financial services firms realize their return on investment (ROI) relatively quickly?

Speeding Insurance Firms’ Digital Transformation

White Paper: DigitalML

Large insurance firms are continually looking for latest business opportunities to power their digital transformation, as many existing business lines are flat or declining. In going digital, the main goal is to allow the insurance company to provide a more streamlined omni-channel customer experience. This whitepaper discusses about how insurance firms are speeding IT transformation with business-led canonical APIs. Key takeaways from this whitepaper: Delivering digital transformation for insurance demands a new approach Going digital gives insurers a stronger identity Leading insurance firms have already moved to this new agile approach Agile integration APIs & services deliver consistent business results

Does Your Finance Department Consume Your Time Or Add Value?

White Paper: Consero Global Solutions

Not having a clear financial picture of your company can lead to disaster. Growth can put a tremendous strain on your financial department: the people, processes and technology necessary for the company to continue successfully. Today, organizations are squeezing their finance and accounting functions like never before. Migrate to an enterprise-level accounting package that is connected to best-of-breed software programs, delivering a comprehensive financial solution. This white paper highlights: Common financial challenges faced by growth companies Painful results that occur as a consequence of these challenges Recommendations on how to avoid such financial issues Key factors that impact scalability and scalability best practices 

Cloud Sandboxing for Financial Services

White Paper: Quali

Cloud Sandboxing for Financial Services will ensure that your applications run smoothly on your large and complex infrastructure.  Financial Services applications are becoming more complex and sophisticated – embracing newer technologies while at the same time having to support core services that are based on legacy and on-premises specialized systems. This whitepaper discusses these challenges faced by Financial Organizations, and introduces the concept of Cloud Sandboxing as an enabler for DevOps processes. How can sandboxes help you achieve faster application delivery? How do ­financial services organizations move to DevOps and deliver secure high quality applications at scale? How sandboxing provides the basis for good early application compliance security testing?

Vertical Solutions Integration In The Banking And Financial Services Industry

White Paper: HCL

Vertical Solutions will be a key component of the future transformational journey for financial services institutions. In Financial service industry,the business applications landscape is changing rapidly, and firms must act fast to cater to evolving customer demand. Financial service institutions (FSIs) need business applications that can deliver new business capabilities more flexibly including analytics, business intelligence, CX, and digital business processes faster. Read this insightful whitepaper that brings you the trends, drivers, and challenges of the business applications environment in financial services enterprises. It addresses questions like: How Vertical solution integration will be a key component of the future transformational journey for financial services institutions? What are the top business imperative that drives company’s transformation initiative to improve customer experience? Would your firm consider transforming its current landscape of financial-services specific business applications? What financial services firms do to simplify the business application environment ? How to overcome the key challenges faced in financial service business applications?      

7 Reasons Why CFOs Should Change their Budgeting & Forecasting Process

White Paper: Jedox

From the use of obsolete data, wasting crucial time and much-needed capital to shedding your reliance on your IT department, there are several reasons why you must consider bringing in a change in your budgeting and forecasting process. Maybe now is the time to stop relying on IT to fabricate financial planning and forecasting reports for you and being stalled by them for months, or it is the time to replace the antiquated business intelligence tools by a better self-service tool that propels your budgeting and forecasting approach and doesn’t hold your company back anymore. This white paper was written for financial managers needing a better self-service tool for budgeting, planning and forecasting and those needing a spark to change current practices that are holding your company back. It imparts the useful information about how this modern financial planning software solution with advanced planning functionality has accelerated many renowned companies’ forecasting process, and the data consolidation and data preparation, availed by this budgeting tool, for them has definitely strengthened their revenue, margin and expenses model.

Best Practices: Financial due Diligence and the Outsourcing of Freight Bill Audit and Payment

White Paper: CTSI-Global

The outsourcing of freight bill audit and payment is an important financial step for an outsourcing firm and should be treated as such. While most of the firms are financially sound, well-managed businesses, the general business climate dictates the importance of thorough financial due diligence in selecting a provider. This informative white paper highlights a number of steps that can be taken to ensure a successful relationship, protecting and minimizing the financial risk to the outsourcer. Some of it includes: Investigate the reputation of the freight bill auditing and payment firm used by the provider. Make sure that statements and other documents are examined by qualified financial personnel. Investigate the reputation of the FBAP firm’s senior management. Ensure that the Freight Bill Auditing and Payment firm’s financial controls are tested at least annually by an independent auditor. Download this whitepaper to know more about: Why and how to outsource freight bill audit and payment services? What are the significant advantages to outsourcing freight bill audit and payment? Why freight bill audit and payment firm should not be too reliant on one or two clients? What are the major reasons for outsourcing failures in freight bill audit and payment?

Supply Chain Finance:Invoice Financing,Factoring And Discounting

White Paper: Xoomworks BI

The supply chain finance is ready to be addressed, whether you see today’s trade credit situation as a business ethics issue or a technology readiness issue. Getting the “buy chain” flowing is essential to maximizing potential growth. In this white paper on “The ‘buy chain’ – the next place for world-class focus,” learn more about the supply chain finance and real benefits in implementing buyer driven financing. It talks about: Different options available for supply chain finance Invoice discounting using the strength of the Accounts Receivable ledger to finance the loan Invoice factoring by selling the invoice to the bank at a discount. Implementing buyer driven invoice financing Approved payables supply chain financing or Reverse factoring Explore the different options for financing and de-risking the supply chain finance and gain valuable insight into the possible benefits that could be achieved with the right technology and processes in place.

How Financial Services are Achieving Technology-Enabled Competitive Advantage

White Paper: Adlib

Competitive advantage in the financial services can be achieved by delivering an exceptional customer experience. This, as we all know, is a Herculean task and questions like “How to drive the business growth in financial services industry?”, “How financial services are achieving technology-enabled competitive advantage?”, “How the management of business information is affecting the financial services enterprises?”,  etc., always linger. This informative whitepaper helps you better understand those issues and also guides on identifying and addressing the below questions: Which are the most important cost reducing factors in the data management process? How the enterprise content management processes are used to decrease the cost? How organizations are making more intelligent business decisions? How to use the information systems to achieve strategic advantage? How to make better decisions, drive business growth and achieve information governance goals? How to reduce the operational cost in financial services organizations? It outlines three key findings regarding how the management of business information is affecting the financial services world today.

Meeting the Accounting Challenges of Globalisation

White Paper: Sapphire Systems

Globalisation is seen as a trend, although barriers abound in the field of accounting as it has been changing dramatically. Globalization of the business environment presents many challenges in accounting, with significant differences in auditing practices, as rules, regulations, taxation and governance frameworks vary from region to region. In such conditions, meeting the accounting challenges is becoming hard, thus the need arises to answer a few questions such as: What are the key things to look for when evaluating a global accounting system? What should you look for when selecting a global accounting solution? What are the key changes required in accounting and accounting methods? What is the role of International Accounting Standards? Does the consulting team or partner have a presence in all of the countries you operate in? This whitepaper looks at some of the challenges organizations face in their quest to embrace globalisation, and identifies a new approach which overcomes cost and complexity to facilitate consistent financial reporting across the world.

A New Approach to Security & Compliance for Financial Services

White Paper: NopSec

The security and compliance are a major concern for the financial services organizations of all sizes in today's economic and cultural environment. So now the question arises: Is your financial service firm meeting the security compliance standards? If you are delaying cyber security and compliance, then your organization is more exposed to vulnerabilities and cyber attacks. This white paper on “A New Approach to Security & Compliance for Financial Services” talks about: How can smaller financial firms reach the security and compliance objectives? What are the general areas of financial compliance that can affect your organizations? What are the top factors driving new spending on information security compliance in financial services? What should be the security budget to face the challenges of security and compliance for your financial firms Gain an insight on how smaller financial services firms can reach their security and compliance objectives by gaining a deeper understanding of the cyber-security regulatory landscape.

The Financial Impact of ERP Architecture on the Annual Cost of Business Change

White Paper: IDC

ERP systems are the technology backbone of the modern business, and as such, the process of matching the "right" system to specific business needs is extremely critical. Most companies spend quite a bit of scarce resources (time and money) on defining the business requirements and then evaluating the potential systems for a close functional fit and for the potential up-front (implementation and license) costs.

Student ID Verification: What Institutions Need To Know

White Paper: Biometric Signature ID

Student Identification and verification is defined as the verification of identity is in person or remote (meaning from a computer or portable device) which is usually accomplished by the use of biometric credentials. This informative whitepaper brings you: What institutions need to know about the online student identification and verification Lack of compliance for student identification in present day environment New regulations on student identity verification Differences between academic integrity, student identity verification and financial aid fraud Meeting compliance using best practices for student identification and verification Download this whitepaper to learn more about the student identity and verification methods which reduces the risk by providing the industry’s most complete solution for student ID authentication.

How Non-Profit and Public Sector Organizations Benefit from Shifting Custom Solutions to Dynamics CRM

White Paper: ALTUS Dynamics

Today, customizing solutions is becoming less and less of a need than ever before. Standardized technology platforms from successful Enterprise Resource Planning (ERP) solutions have more capabilities than ever to handle most of your financial, human resources and payroll needs. When an ERP solution could not handle unique requirements organizations would need to turn to custom programmers who would leverage ACCESS databases, SQL databases, or even Oracle databases to gain unique functionality that organization could not live without. Dynamics CRM, a platform as well as a solution, provides non-profits and public sector organizations tremendous capabilities to leverage and address unique requirements never before accomplished without significant customizations. This whitepaper provides an overview of why Microsoft Dynamics CRM can be considered your next development environment when addressing unique requirements not covered in ERP.

Manage the Complexities of Multicurrency Transactions

White Paper: Xignite

Now a days the biggest challenge faced by all the MNC  is how to constantly adjust  the regional currency rates ,manage accounting, inventory and procurement  for multi-currency transaction. This descriptive whitepaper mainly focus on the following areas of challenges for facing the multicurrency transaction problems: Global multi-currency transaction operations ERP multi-currency integration Multi-currency transaction management solutions The key features of this whitepaper include:  • Real-time and historical exchange rate quotes—bid, ask, mid and spread • Intra-day, end of day and historical open, high, low and close rates. • Currency converter utility included • Calculated cross rates USD/ EUR, USD/JPY, USD/GBP, USD/AUD, USD/CHF and USD/CAN

Building the Bridge Between Finance and Operations for More Effective Enterprise Project Planning

White Paper: Platinum DB Consulting

Corporations across the full spectrum of industries have been planning and executing projects since their founding. Across the passage of time methodologies and processes mature, tools are introduced and enhanced, knowledge is acquired and shared, practices (both good and bad) become ingrained into the corporate culture. For many of these businesses anything greater than a minor change to the status quo presents a major challenge, especially if the change is not sponsored by Senior Management and the benefits are not readily identifiable and quantifiable by those impacted. If the architects of change fail to address the critical question that is asked or implied by all interested parties and stakeholders, “What’s in it for me?” the initiative, whatever it is, will be at severe risk of failure.

E-Invoicing Management: Move to the Middle

White Paper: Direct Commerce

As the electronic invoicing market becomes more saturated in large companies, the small and medium enterprise (SME) market, those with annual revenues under $250 million, continue to open up. Over the past year, PayStream analysts witnessed an increase in electronic invoice (eInvoice) adoption among SME’s, as well as an increase in workflow automation. New and improved innovations in eInvoice functionality including Software-as- a-Service (SaaS), free supplier portals, dynamic discounting and mobile transactional capabilities are the driving forces behind the increase in adoption in the middle market. More SMEs are now reaping the benefits that the large early adopters did, including reduced processing costs, increased invoice approval cycle times, improved cash management, and increased visibility, to name a few. In addition to more companies or (buyers) implementing eInvoicing, PayStream survey results reveal that eInvoice adoption has been of keen interest among suppliers. The number of suppliers that no longer submit paper invoices and have converted to eInvoicing has increased dramatically. Today more suppliers send more invoices to companies in electronic format that do not require data entry, resulting in a more efficient and cost saving invoice process. Solution providers are now catering to suppliers with aggressive supplier on-boarding programs and easy to use supplier portals. More eInvoicing providers are offering their services to suppliers at no-cost, in an effort to build their supplier networks and keep buyers and suppliers connected across the globe.

A Buyer's Guide for Budgeting, Planning and Forecasting Software

White Paper: Arcplan

An efficient budgeting, planning and forecasting (BP&F) process is a cornerstone of successful organizations, with each stage providing a blueprint of a how the company will achieve its financial goals. The budgeting process plots company expenditures and provides supporting detail documentation; the planning process outlines the company’s short- and long-term financial direction and expectations; and the forecasting process predicts financial outcomes based on current and past performance. As many finance teams will attest, “budgeting season” is a time of enormous pressure as departments cope with constantly changing market conditions which influence financial plans, and must make resources available to deal with the time-consuming, complex planning process.

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