For any business, the month-end close process is a critical function. It is when financial records are reconciled for accuracy and compliance with reporting requirements. Nevertheless, this may be time-consuming and prone to errors in many companies, especially those that …
Defining the job of a Finance Controller is as difficult as being one. They not only bring accuracy to the table but also are responsible for improving the financial efficiency of an organization.
Finance …
In modern businesses, CFOs must manage working capital adequately and reduce Days Sales Outstanding (DSO) for efficient Accounts Receivable process. However, traditional manual AR processes often present daunting challenges in achieving this goal.
Managing and optimizing Accounts Receivable (AR) collections …
Within modern, dynamic business environments, 70% of CFOs feel that risk management is at the top of their docket. As the life cycle of financial processes becomes fundamentally reshaped through automation, the risk environment stands at the cusp of seismic …
Finance automation is playing a substantial role in furthering the CFO’s position in the C-suite.
Half a decade ago, the finance team spent 80% of its time gathering, verifying, and consolidating finance data. The remaining 20% was dedicated to …
Artificial Intelligence and Machine Learning have had a notable impact on the worldwide financial sector. According to Business Insider, AI-powered technologies alone have been estimated to save $447 billion for banks and other financial institutes in the year 2023 itself. …
Cash flow visibility is more than just a glance at your current bank balance. It’s a comprehensive understanding of all your company’s incoming and outgoing cash flow across various channels.
In the present competitive business environment, cash flow is the …
The role of a CFO isn’t just about crunching numbers. They’ve become the linchpin of all business operations, including procurement and payment.
Statistics show a strong correlation between an efficient procurement process and healthy organizational performance.
Today, less than 20% …
The financial reporting and compliance landscape worldwide has been growing more and more complex, presenting more significant challenges for auditors and, more importantly, investors and stakeholders. Insurtech company Gain Compliance analyzed 102 filing documents to find out that 58.2% of …
The finance and accounting (F&A) world is ripe for automation. The department, characterized mainly by standardized, transactional procedures, makes it a prime candidate for technology to streamline its operations. Although various types of automation have particular strengths, P2P automation can …
