Invoice processing automation streamlines workflow beyond the obvious benefit of reducing workloads by replacing a paper-laden process that requires hours of manual labor with one that has been entirely digitized. It turns out that automation reduces not only staff workload but also errors and fraud...
When members of accounts payable (AP) teams at specialty dealers suddenly had to start working remotely during the pandemic lockdowns, they quickly saw that they needed to adopt new ways of doing things. Although team members were in different locations, dealers still needed to pay...
In identifying and fixing payments errors, in the move to eliminate waste, it’s time to end the spot check. Matthew Tillman, CEO of OpenEnvoy, told PYMNTS’ Karen Webster that a staggering number of invoices contain errors, and firms of all sizes make erroneous, duplicative payments....
Small- to medium-sized businesses (SMBs) face numerous obstacles to sustainable business growth, not the least of which is managing payments. For many growing buyers and suppliers, the timing of payments — when they are sent and when they are received — is key to long-term...
Accounts payable spend-control firm Planergy and Amazon Business have teamed up around orders placed through Amazon Business’ online store, the companies announced. “Seamless integration between Planergy and Amazon Business enables a centralized purchasing experience and accounts payable processing, with real-time order availability through Amazon Business’...
Nearly all “mass payout” companies believe that their accounts payable (AP) systems’ inability to handle volume is preventing them from growing. That’s one of the findings of “High-Volume Accounts Payable,” a PYMNTS and Routable collaboration based on a survey of 204 executives from mass payout...
Growing payments volume is one sign of a healthy business, provided businesses can suitably service increasing mass-payout needs without crimping growth with legacy methods. Being an accounts payable (AP) laggard is known to have negative impacts downstream, and with so many FinTech options available, there’s...
Businesses of all sizes experience inefficiencies when dealing with a high volume of payables, or “mass payouts.” Regardless of the actual volume of payables a company processes each month, organizations that lack the solutions and infrastructure to manage this aspect of their operations efficiently will...
As businesses continue their digital transformations in the pandemic’s aftermath, digitization of business-to-business (B2B) processes still has some catching up to do. One of the most crucial of these processes is invoicing. A 2019 report estimated that companies and their business partners exchanged more than...
