Nanonets

JUNE 22, 2023

It involves reviewing the details of each invoice, verifying them against purchase orders, receipts, and other relevant records, and resolving any discrepancies or errors that may arise. Match invoices with payments : Compare invoices with payment records, such as bank statements, to identify any discrepancies or missing payments.

Invoicing

Nanonets

JUNE 27, 2023

Manual invoice processing involves multiple manual touchpoints, such as data entry, verification, approval routing, and payment processing. Manual invoice processing often involves time-consuming steps, such as data entry, manual verification, routing for approvals, and manual filing.

Invoicing

Nanonets

MAY 31, 2023

million individuals in the United States fell victim to identity theft in 2021. In 2021, a staggering 323,972 internet users worldwide became victims of phishing attacks, indicating that half of the cybercrime victims fell prey to this method. Moreover, automation brings significant improvements in accuracy and data validation.

Data Entry

Nanonets

NOVEMBER 16, 2023

This shift from manual to automated processes ensures that tasks are completed more efficiently, reducing time spent on data entry and checking human errors and resolving discrepancies. AP automation is necessary for businesses looking to improve their company’s overall financial integrity.​

AP

Nanonets

APRIL 17, 2023

This process includes tasks such as receiving/processing invoices, data entry, approvals and payment. AP automation also reduces the risk of fraud and errors, leading to smoother audits and accurate financial records. AP automation aims to improve the efficiency, accuracy, and speed of the accounts payable process.

AP

Nanonets

APRIL 24, 2024

They assess the adequacy and accuracy of documentation to support the integrity of financial records. According to a 2021 survey conducted by Forbes among finance and accounts-related executives, nearly all respondents (98%) noted that their external audit firms utilize advanced technology.

Bank Reconciliation

Nanonets

AUGUST 1, 2023

Traditionally, document workflow management relied on manual tasks, such as printing, scanning, mailing, manual data entry, the physical transmission of documents across the hierarchy for approval, etc. With the advent of automation tools, businesses are now leveraging automation to better manage their document workflows.

Data Entry