Articles, announcements, feature updates, and technical posts about all things fintech and payment operations - written by the Payable team.
Journal entry II: Reconciliation in Scaleups
12 Dec 2023
Two of the most pressing challenges that scaling businesses must overcome are inefficient processes and time management. As a business scales, what were once minor inconveniences become magnified, having a ripple effect across the whole business. This is certainly true when it comes to your finance team’s reconciliation process. Join us for the second part of our reconciliation series as we put scaling businesses under the microscope and explore how effectively scaling financial operations wil
Managing client money? Here’s how PSD3 will change your financial operations
30 Nov 2023
The payment industry is changing quickly in light of PSD3. And while a definite timeline for PSD3 is yet to be announced, one thigh is clear - it will shake things up once again. Read on to learn more what PSD3 means for you and what operational challenges it brings along.
Journal Entry I: What is bank reconciliation?
28 Nov 2023
The term bank reconciliation is the process of comparing and verifying bank records with a company’s record of transactions (also called a journal entry). Some refer to this as the financial close process.
Bank connectivity series: Deep dive into host-to-host connectivity
24 Oct 2023
For many businesses, H2H connectivity is the key to automating their treasury and financial operations. It allows to exchange financial data with banks in real time, making it easier to manage liquidity, monitor cash flows, and make informed financial decisions.
Scale your money movement with clever risk controls
17 Oct 2023
Our Payments automation module automates your payment instructions directly from Payable. We connect with your bank and ERPs so you can easily automate vendor payments without building and maintaining complex integrations.
Bank connectivity series: Comparing host-to-host, EBICS, APIs, and Open Banking
12 Oct 2023
Bank connectivity keeps the money moving and lets companies pay their bills, get paid, and do all their financial tasks more efficiently. We’ll break down and compare four common bank connectivity options: Host-to-Host, EBICS, APIs, and Open Banking.
My experience as an engineering intern at Payable
11 Oct 2023
Hi, I’m Boris, I was doing my final year of high school this summer when I joined Payable as a Software Engineering Intern building an ROI calculator for their website.
A/P Reconciliation: Keep your payables in check, automatically
30 Aug 2023
Reconciliation has always been a headache for finance teams. It is essential to track your expected payments and bills for effective cash flow management and planning - working out which vendor you need to pay and when.
Why using ERPs for bank reconciliation doesn’t scale
17 Aug 2023
As businesses scale, it becomes more difficult for teams to communicate and collaborate effectively. They use separate systems, processes and software that creates data silos across the business.
Treasury management: Key functions, benefits & best practices
10 Aug 2023
Treasury management is more critical than ever in a constantly evolving business landscape. Especially after the global pandemic, companies are exploring ways in which they can better equip back-office teams to navigate financial uncertainty and gain competitive advantage. Treasury management not only keeps a company’s financial resources in check but also helps manage risks and make informed decisions for growth and profitability. Are you curious about how treasury management can elevate your b
How Payflow ditched spreadsheets to automate payment operations with Payable
06 Aug 2023
Payflow scaled finance function with Payable automating 40% of manual tasks and unlocking 30% of working capital with automated reconciliation.
Building a foundation for success: 5 lessons from late-stage companies for early-stage startups
31 Jul 2023
I joined Payable after I had worked at a fintech TrueLayer, that had grown to scale, and as part of that journey, I learned some lessons I vowed to bring with me on my new adventure.
How to fully automate Xero bank reconciliation
27 Jul 2023
Unfortunately, relying on Xero to automate month-end close will be a challenge, but not all is lost, as there are other ways that make Xero work harder for finance teams.
Automate NetSuite reconciliation with Payable
27 Jul 2023
We are excited to announce our new integration with NetSuite, which will revolutionise the way finance teams manage their financial operations. By connecting NetSuite with Payable, finance teams can seamlessly connect their financial data to banking portals and payment providers, and automate the reconciliation process from start to end. This will improve the accuracy of NetSuite data and save hours each month on manual tasks. Make NetSuite work for you (not the other way around) In a perfect
How payment references impact reconciliation match rate
26 Jul 2023
When a business receives payments from customers or clients, they need to ensure that each payment can be correctly identified and associated with the specific invoice or record it corresponds to. The reconciliation match rate indicates how well a company is able to achieve this accurate matching.
Automate reconciliation with Xero integration
25 Jul 2023
You can now integrate Xero with Payable and fully automate your reconciliation process from start to end. Save hours (even days!) when preparing financial statements and closing books each month.
Cash management: Effective strategies for financial success
25 Jul 2023
Efficient cash management involves optimising the use of available funds, maintaining adequate liquidity, and making informed decisions to ensure a healthy financial position.
Automate end-to-end reconciliation with Payable Integrations
18 Jul 2023
We are excited to introduce Payable Integrations - the essential connecting layer between bank transactions and finance tools.
Banking with SVB UK? What you need to know as you migrate to HSBC Innovation Banking
07 Jul 2023
If your business was banking with SVB UK you need to prepare for transitioning to HSBC Innovation Banking. We have summarised the latest guidance from HSBC Innovation Banking and what to keep in mind as you navigate the process.
Automated Reconciliation: scale payment operations with ease
27 Jun 2023
Bank reconciliation just got easier! Payable provides intelligent reconciliation for finance teams with automated matching, reporting and clever workflows for conflict resolution.
Automating accounts receivable management: guide for finance leaders
23 Jun 2023
Accounts receivable, or A/R for short, is the core pillar of financial management, ensuring that businesses can navigate their liquidity and cash flow. Inefficient accounts receivable management can often become a significant bottleneck for businesses ability to scale.
Our mission to change treasury management
14 Jun 2023
Last month we celebrated our 1st anniversary since launching Payable, which made us reflect on our journey, why we started Payable and what the future holds. As a former product manager, I was in a world brimming with tools designed to enhance my performance – tools that boosted productivity, enabled cross-team collaboration and ultimately empowered better decision making for the business. Just as I rely on Slack, Jira, and Figma, engineers thrive on Github, and salespeople can't do without Sal
Cash visibility with Automated Reconciliation
13 Apr 2023
You can add all your banking partners to Payable and have real-time cash visibility across all your currencies. Instantly know exactly who has paid you what with automated reconciliation. Track all your customer and supplier account balances in real-time.
3 key banking APIs for treasury
13 Mar 2023
In the last post, we explored banking APIs and how bank connectivity is key for a company to successfully scale. As corporate banking customer, there are a few different API types that will 10X your operations as a payments or treasury team. Here we will deep dive into what they are and how they will benefit your business. Payment Initiation API You want to pay your customers, suppliers and users in the most efficient way, but before leveraging a banking API payment operators often depend on
Buy vs build - what to do?
06 Mar 2023
It is a recurring question for any company scaling or expanding; to solve a problem should I buy some software or build it in house? It is a tough question that requires deliberation. Now we will run through the key factors you should consider, peppered with advice from experience of working in a range of companies. Be real about your requirements: Ask yourself what the biggest pain points are and just tackle those - building in house can result in project scope creep. Your problem might not b
Bank Connectivity - how banking APIs can save you money
28 Feb 2023
Bank connectivity in treasury terms refers to the ability of an organisation to connect and interact with its banking partners. This can include accessing bank account balances and transaction data in real-time, plus initiating and tracking payouts. Let's assume you found a fintech start up. You want to validate your idea quickly, starting with using a BaaS such as Modulr. This allows you to do bank transfers such as Faster Payments, BACs and CHAPs. As you grow you find Modulr is expensive bec
From experiencing the problem, to building the solution: An engineer's point of view
23 Feb 2023
Finding Product Market Fit Companies form to solve a customer problem. Whether that is to innovate how loan finance happens or to disrupt the retail investing landscape. The primary focus of these startups is to prove they have Product Market Fit (PMF) early, rather than to engineer the optimal backend operation systems. Manual processes are frequent and acceptable, as the focus on the small engineering teams is to build what the customers directly interact with. After all, without customers u
Introduction to Payment Operations
15 Feb 2023
Payment Operations is the process of tracking, reconciling, and moving money across your business. Today, this actually happens through spreadsheets, bank files, and legacy protocols like SFTP. 0:00/1× When a company reaches a certain level of complexity, payment operations becomes a pain point. The company requires multiple bank accounts and multiple payment providers across different geographies. Let me walk you through why that's happening - if you're a company that wants to be in the UK,
Payment operations for B2B lending companies
31 Jan 2023
Business-to-business lending has become a lot more exciting in the past few years, moving from one-size-fits-all to being tailored to what businesses really need. For daily operations we’ve seen the proliferation of Buy Now Pay Later and embedded finance options at checkouts, which give businesses the freedom to control their cash flow and make one off purchases without going into their overdraft. For companies considering the next stage of growth, revenue based financing allows businesses to
Building developer friendly APIs
19 Jan 2023
Here at Payable we’re trying to build the world’s best APIs to make payments and report on money movement. APIs are the key ingredient in scaling a technology company's engineers and clients. A developer friendly API can help engineering teams benefit from each other’s work without ever needing to schedule a meeting. These teams can be both within and outside the company. By taking this approach a front end engineer can surface any data that exists for a customer without involving the backend t
From Steel Structures to Data Structures
25 Oct 2022
Preface Let me start by admitting that as an Engineer, I’m not much of a writer. In fact, I have never written a blog post or published an article in my life, but we all have to start somewhere. I hope this post is interesting and informative, but if nothing else, I hope it will help readers avoid the mistakes I made when faced with similar crossroads in their careers. Depending on the reception and reader interest, I’d like for this to be the first in a series of articles documenting the steps
We've raised $6.1M to modernise business payments
11 Oct 2022
We've raised $6.1M to build a payment operations platform so companies stop using EBICs, bank files and spreadsheets to move and reconcile money. 💡With Payable, you can connect your banks and automate payments from initiation to reconciliation with a single API and dashboard. About a year ago, Raz and I sat down with the treasury and payment operations team at Checkout.com to understand what it would take us to launch the new marketplace solution. We realised that tech companies depend on cl
CTO diaries - building an engineering function from the ground up
10 Oct 2022
Hey! I am Raz, and this post is a part of a series of posts to share my experience and journey with other engineers considering either joining an early-stage start-up or aspiring to reach the role of a CTO. Over the last couple of years, I worked for a great company in a well-paid job with fantastic career progression, from hands-on responsibilities to management. I never thought I would seek something else, especially taking such a massive risk later in my career. After so many years in the i
Payable: Payment Operations Software
23 Sep 2022
Companies expend huge amounts of effort and money building payment operations. Today, treasury and finance teams have to become quite large to manage their payments. This is not just a problem for traditional organisations; we’ve heard this is happening everywhere from listed companies to start-ups. They are using a tangled web of spreadsheets to track and make payments. That’s insane. Look, there are 8k+ Payment Operations Jobs just in the UK, and 80 added every week. Trillions of dollars t