Financial Operations Hub

Accrual accounting is a GAAP method of accounting to record revenue when earned and expenses when incurred (not paid), summarizing results in accrual basis financial statements. Accrual based accounting uses the matching principle to record revenues and related expenses in the same accounting period. Record accrued liabilities or related assets simultaneously with double-entry bookkeeping.

Regtech is short for “regulatory technology” and involves the management of regulatory processes within the financial industry. The main functions of a regtech solution include compliance, reporting, and regulatory monitoring.

Integrated payables streamlines treasury management by consolidating the payment process into a single step. A company can maintain complete control over funds and instruct the bank when to release transactions.

Reverse factoring is also known as supply chain financing. It’s a financing solution that ordering parties initiate to help suppliers finance receivables. Reverse factoring is an alternative to the factoring financing method, in which the supplier initiates financing.

There are a lot of general arguments to make for the fintech market and working this into your business model. When it comes to market share and data analysis, the numbers always come out on top.

An electronic document management system (EDMS) scans paperwork and creates digital documents that can be stored, archived, revised, shared, etc. It decreases error and ensures a formidable audit trail. The lifecycle of a document is infinite in a digital space. Paperwork has a lifespan. EDMS systems include the following features: