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How to Maintain Anti-Money Laundering Compliance as a PayFac

Stax

For obvious reasons, the issue is even more pronounced for businesses in the financial services industry such as insurance companies or money services businesses. The US, therefore, requires financial institutions as well as financial services firms to have anti-money laundering (or AML) compliance programs in place.

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Understanding Risk Management Strategies as a PayFac

Stax

For SaaS companies, becoming a payment facilitator (or PayFac) offers a ton of advantages—including but not limited to—boosting retention and profitability while exercising greater control over the customer experience. could result in financial losses, litigations, law enforcement action, and damage to reputation.

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Security Compliance for SaaS: Cutting Costs and Boosting Sales with Automation

Scytale

In the world of modern business, SaaS compliance management is a huge concern, and the importance of SaaS security compliance cannot be overstated enough. It consumes a lot of valuable time and financial resources, especially with regulations and requirements in a constant state of flux.

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SaaS Financial Audits: 5 Tips for a SaaS Company's Financial Audit

ProfitWell

Financial audits almost always prove hectic for any company. Unfortunately for SaaS companies, bookkeeping is hectic and is often plagued by such inconsistencies and mistakes. What is a financial audit? A financial audit is a thorough examination of an organization's financial reports.

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Accounting for SaaS Companies: Why Go GAAP Early in SaaS?

SaaSOptics

Accounting for SaaS Companies: Why Go GAAP Early in SaaS? In most emerging and growth SaaS businesses, the focus is on cash flow and growth. Accounting for SaaS Companies . However, for GAAP financial statements, the accrual method is the only approach. Accounting For SaaS Companies Considerations .

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5 Reasons Why You Need a SOC 2 Report

Scytale

There are plenty of reasons for any SaaS company to prioritize SOC 2 compliance and why it is in the best interest of the company. Audit costs can be quite costly but fines due to a data breach causes financial damage. After all, implementing SOC 2 is time-consuming and requires a substantial investment of resources.

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4 Reasons SaaS Startup CFOs Need a Tech Stack Built for a Subscription Business

OPEXEngine

As your SaaS company grows in complexity and expectations, you reach a point where manual processes waste time away from analysis, and you struggle to collect and act on your growing range of financial and operating data. Here are 4 reasons why your SaaS business needs a tech stack built for the subscription-based business model.