Finance
Sentiment Analysis Stock Market in 2024: 3 Data Sources
Figure 1. Time series plot of news sentiment score vs. actual stock price Making accurate predictions regarding stock prices is challenging as the best time to invest or hold depends on factors like interest rates, inflation, investors’ risk aversion, changes in supply and demand, or quarterly financial reports.
Procure to Pay Automation in 2024: Technologies & Approaches
Despite procure to pay (P2P) suites bringing digital workflows and OCR technologies bringing partial automation, P2P has remained largely manual due to its complexity. Manual efforts in the P2P cycle pose a risk in accuracy and reliability as it is subject to human errors.
Top 5 Benefits of Automating Your Financial Reporting in 2024
The biggest downsides of a manual reporting process are that: To overcome these challenges, accounting teams can automate the entire reporting process by deploying a financial reporting automation solution. In this article, we’ll explore the top 5 benefits accounting teams can achieve by moving away from paper-based reporting and implementing an automatic counterpart. 1.
Intelligent Automation in Finance & Accounting: Guide for 2024
Managing finance and accounting processes can be complex and labor-intensive. To avoid dangerous financial mishaps that can threaten the stability of a company, manual errors should be minimized.
Top 3 Trade Finance Instruments in 2024 & Their Automation
Trade finance is an umbrella term attributed to all the financial instruments at the disposal of buyers and sellers engaged in international trade. The World Trade Organization (WTO) proclaims that between 80-90% of world trade relies on trade finance for realization.
Top 5 Accounting Automation Technologies & Use Cases in '24
There is increased interest in accounting automation today. The technology is used to automate most manual, time-consuming, and error-prone tasks in accounting. But the convenience and the ambiguity of the technology could lead to unfamiliarity with the exact nature of the tools it leverages.
In-Depth Guide to Cloud Accounting Automation in 2024
As the reliance on on-premise IT infrastructure is decreasing, and more businesses are renting cloud applications. To effectively manage their expenses, organizations should start adopting cloud accounting applications for automated, cost-efficient, and competitive financial management strategies.
Top 4 Use Cases of Automated Bookkeeping in 2024
Bookkeeping is keeping track, recording, and reporting of all of a business’ transactional data. Bookkeepers lay the groundwork for accountants to analyze the data and create the various financial statements out of the – balance sheet, income statement, cash flow analysis, etc. If the bookkeepers’ numbers are inaccurate, so will be the financial reports.
4 Account Receivable Processes to Automate in 2024
Accounts receivable (AR) is the future influx of revenue for a good or service sold today. But there are complexities inherit to it. For instance, one challenge companies face is they miscalculate the DSO (days-sales-outstanding), the time between a good sold and the payment received. According to Pwc, DSO showed a 3.
Top 10 Technologies Enabling Finance Digital Transformation in 2024
Per Google Trends, there has been a sustained rise in interest in finance automation. Since the COVID outbreak, around 88% of finance and insurance executives have reported an increase in the implementation of AI technologies .