Companies need better software to manage day-to-day finance - Deepstash

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Companies need better software to manage day-to-day finance

Companies need better software to manage day-to-day finance

The tools that exist today for tracking and managing financial operations are outdated. Furthermore, payment complexity is increasing as businesses become global.

Large companies try to keep up by creating homegrown solutions with many engineers and operations specialists. For example, companies like Airbnb and Uber have 200+ employees tracking their real-time financial health.

Then there are the breakdowns in these payment operations, such as when Citibank accidentally wired $900M to a hedge fund.

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MORE IDEAS FROM THE SAME ARTICLE

Financial Operations (FinOps) could be an emerging software category with a huge opportunity to rethink the way businesses manage their money. As a result, it is expected that a number of companies will build solutions.

Both payins and payouts can organise workflows into la...

  • Payouts send money outside of the business, such as bank wires and ACH, paying vendor invoices, creating transaction logs, etc.
  • Payins bring money into the business by accepting various payment methods, optimising payment routes and authorisation rat...

Building in this category requires building trust and reducing friction in the onboarding. The product needs to be highly reliable and likely needs to be added on top of existing products at first. Setup cannot be overly complex, as this is what the buyer wants t...

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Accounting software is a program that helps to manage a company's financial transactions. The accounting software you use can help track critical financial data in your business, keep track of your taxes, and pay your employees on time.

Freelancers and small businesses can ...

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The Golden Rules of Personal Finance

  • Spend less money than you earn
  • Always plan for the future: you should always look forward beyond the current month
  • Make your money make more money: invest, start a business or invest in your education.

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Why do people get credit cards?

I try to avoid anything that would lead to debt, most people would too yet even though credit cards fall in this category; it remains one of the most popular means of payment. Why?

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published 6 ideas

These ideas help to understand why credit cards remain a popular means of payment despite being a form of debt.

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