At the core of the financial back office lies workflow, a structured sequence of tasks that transforms raw data and requests into actionable outcomes. What is Workflow? In the financial back office, workflow refers to the automated or semi-automated processes...
Machine learning, also known as ML, has become a ubiquitous term, but what does it actually mean? Essentially, ML is a branch of artificial intelligence that empowers computers to learn from data without explicit programming. Instead of relying on rigid rules, ML...
Ever wondered how businesses ensure the money you’re sending goes to the right place? That’s where bank account validation comes in. Understanding this process is crucial if you’re new to the world of payments, online transactions, or even just...
Optical character recognition (OCR) can extract 98% of invoice data, making it a powerful tool for companies looking to save time and money on data capture. Unfortunately, the raw output of OCR lacks contextual understanding, often leading to potential...
What Is A Vendor Packet? A vendor packet is a collection of forms and documents that a buyer sends to a potential new vendor before starting a relationship. The packet includes all the necessary information needed to set up a new vendor for payment and compliance....
