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ESKER INTEGRATES ACCOUNTS PAYABLE SOLUTION WITH MICROSOFT ERPS

By PYMNTS  |  November 26, 2024
 | 



Esker now enables the real-time integration of its Esker Accounts Payable with
two Microsoft cloud-enabled enterprise resource planning (ERP) systems.

The integration with Microsoft Dynamics 365 Finance and Microsoft Dynamics 365
Business Central is enabled by an expansion of Esker’s Connectivity Suite, the
provider of artificial intelligence-powered business solutions said in a Tuesday
(Nov. 26) press release.

“An efficient office of the CFO requires seamless real-time connectivity that
optimizes business operations, not just because users save time by no longer
having to switch between applications, but also because the IT team does not
have to maintain and support it,” Vincent Changala, Connectivity Suite project
manager at Esker, said in the release.

Esker Accounts Payable automates, streamlines and simplifies accounts payable
(AP) processes, according to the release.

When integrated with the Microsoft Dynamics 365 ERPs, the solution enables
real-time reference data retrieval and invoice creation; automated and fully
auditable purchase order (PO) and non-PO invoice posting; access to original
invoice image and processing data; simplified invoice posting error management;
and on-the-go invoice visibility and approval, the release said.

The integration can be made fully operational in a few days, per the release.

The advantages of AP automation are extensive, according to the PYMNTS
Intelligence report “Automating Accounts Payable for Cost Savings.” Companies
that adopt these technologies can reduce the risks associated with fraud,
enhance cash flow, and deliver enhanced reporting and insights.

Automation delivers similar benefits when it comes to accounts receivable (AR).

Among the AR executives who have adopted AR automation, 83% reported improved
process efficiency and accuracy, and 75% report enhanced cash flow and savings,
according to the PYMNTS Intelligence report “Businesses at Risk: The High Cost
of Manual AR Processes and What to Do About It,” a collaboration with Esker.

Businesses are increasingly using automation and AI to transform how they
approach their AR function, Steve Smith, global director for strategic projects
at Esker, told PYMNTS in an interview posted in October.

“AI can analyze historical data, identify patterns and help businesses make more
informed decisions,” Smith said.

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.




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KRAKEN TO BEGIN SHUTDOWN OF NFT MARKETPLACE

By PYMNTS  |  November 26, 2024
 | 



Cryptocurrency exchange Kraken reportedly is shutting down its non-fungible
token (NFT) marketplace, saying it will move more resources into new offerings.

The company unveiled its NFT marketplace about two years ago, during which time
NFTs fell along with the crypto bear market but have not recovered as well as
bitcoin and other tokens have, Bloomberg reported Tuesday (Nov. 26).

Kraken will transition the NFT marketplace to withdrawal-only mode on Wednesday
(Nov. 27) and completely close it in three months, Cointelegraph reported
Tuesday.

The move comes about a year and a half after the full launch of the marketplace,
as the company launched it fully in June 2023 after a few months of beta
testing, according to the report.

“We’ve made the decision to close our NFT marketplace so we can shift more
resources into new products and services, including unannounced initiatives in
development,” a Kraken spokesperson said in a statement, per the report.
“Clients have been informed of the changes and our team will support them as
they move their NFTs to their Kraken Wallet or a self-custodial wallet of
choice.”

When announcing the public beta launch of Kraken NFT in December 2022, Kraken
said it aimed to make the NFT space accessible to all types of collectors and to
enable them to explore, discover and safely trade NFTs.

The company has launched new projects in other areas this year.

It was reported Nov. 4 that Kraken is part of a consortium of FinTech and crypto
companies that introduced a joint stablecoin pegged to the U.S. dollar. The aim
of the Global Dollar Network, which also includes Robinhood and Galaxy Digital,
is to accelerate the use of stablecoins worldwide and promote an asset that
provides proportionate economic benefits to its partners.

In April, it was reported that Kraken was buying TradeStation Crypto, the
digital assets unit of TradeStation Group, to expand Kraken’s regulatory
licensing in the U.S., accelerate its U.S. presence and unlock new product
opportunities in the country.

Kraken added another new solution in February, saying the new Kraken
Institutional brand aims to be a one-stop shop for the company’s existing
products and services for institutions, asset managers, hedge funds and high
net-worth individuals.



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