How AR Automation Tools Help Close the Cash Flow Gap
A business can close the year showing a solid profit but still find itself out of money. Receipts...
Finance teams deal with numbers - a lot of numbers. While the different areas within finance each have different needs, there’s one thing that’s common - the need for data assembly and validation. Whether it’s financial accounting, FP&A, or accounts payable, accurate data is the bedrock on which the projections and analyses are built.
The sources of data in a typical organization are - ERP, CRM, HRIS/Payroll, CLM, Department budgets, bank accounts, Spreadsheets, etc.
Traditionally the data has been assembled manually via a combination of CSV exports, shared files, email exchanges, and sometimes APIS. The data is then populated in spreadsheets and manually validated for errors/typos. After that formulas are created to generate the desired output. Typically in the form of -
Lately, technology adoption in finance is seeing an uptick and I believe this trend will accelerate in the future. The reasons behind this are primarily -
We built Payference to supercharge Finance with the latest in tech. At the heart of it are seamless integrations and PayIQ - our proprietary machine-learning algorithm. Payference does the heavy lifting for you, letting you focus on higher value items instead of repetitive, error-prone, data-intensive, and time-consuming tasks
Would you like to discover how businesses like yourselves can achieve a decreased DSO and accelerated payments, generating over 10x ROI using Payference?
Book a meeting to schedule your free consultation today.
For more information write to us at: contact@payference.com
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