article thumbnail

General Ledger (GL): Definition, Significance, Implementation

Nanonets

The shortcomings are as follows - Time-Consuming Data Entry : Manual entry is not just slow; it's a drain on resources, pulling staff away from more value-added activities. Automated Data Entry Data entry is often the bane of efficiency, but it doesn't have to be.

article thumbnail

Tipalti vs. BILL: Software Guide for AP & Finance Teams

Nanonets

Tipalti is a finance automation platform that has been around since 2010. Customers love the tax compliance features as well as the fact that most AP data entry work is done automatically with Tapalti. Paving the way during the early days of finance automation efforts, Tipalti has evolved with the needs of its users.

AP 52
article thumbnail

Preventing payment fraud and shadow spending

Nanonets

A classic example is the flash crash instigated by Navindar Singh Sarah in 2010, in which insider trading caused a sudden 36-minute stock market crash worth $ 1 trillion. Integrate advanced data monitoring tools that can continuously analyze financial data in real time, flagging suspicious transactions or patterns for further investigation.