Ever wondered how businesses keep their finances on track and avoid cash mishaps? Proper financial record-keeping isn’t optional – it’s a critical foundation for any company’s long-term success. At the core of sound financial management is a fundamental tool: the …
Have you ever faced uncertainty when a bank transfer takes longer than expected to reflect in your account? Such delays can be frustrating, even if they’re common. This is where the UTR (Unique Transaction Reference) number comes into play. As …
Unified Payments Interface (UPI) has transformed the payment landscape in India, enabling fast, secure, and cashless transactions. UPI has become synonymous with everyday payments, from paying at grocery stores to splitting restaurant bills, marking a shift towards a digital-first economy.…
Have you ever wondered how banks ensure your money reaches the correct account without any errors when making a transaction? The answer lies in a unique identifier called the IFSC, issued by the Reserve Bank of India (RBI). This alphanumeric …
The Indian Income Tax Department has embarked on a promising project named PAN 2.0, approved with a significant investment of ₹1,435 crore. This initiative is set to revolutionize how tax identification functions in India by leveraging cutting-edge technology to …
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. …
In today’s highly competitive and digital-first economy, safeguarding financial transactions is no longer just a technical requirement—it’s a strategic imperative. For every business the stakes are clear: data breaches and financial fraud can lead to significant regulatory penalties along with …
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 …
