Virtual credit cards are one of the more flexible electronic payment methods available, and the world continues its steady march toward greater digital payment use. These 16-digit credit card numbers are created for one-time purchases at set amounts, and the convenience, security and speed they...
Flipping paper checks into virtual cards is easier said than done. In the latest Next-Gen AP Automation Tracker, Jennifer Swenson, U.S. Bank’s vice president of corporate payment systems, and Adam Kruis, senior vice president and manager of working capital consulting, share how using data to align...
Many accounts payable (AP) professionals turning to electronic payments to streamline their companies’ payment processes — specifically, how they pay invoices from suppliers — are putting virtual cards at the top of their lists, and for good reason. Virtual cards allow AP departments better control...
We may be present for an historic moment akin to the advent of electric lighting, or at least the leap from DVD to streaming TV: It’s the demise of the much-maligned paper check. That’s no optimistic, dawn-of-the-decade prediction – it’s happening fast, and that’s the...
Paper-based payment methods such as checks and cash are awkward and cumbersome in either business-to-business (B2B) or business-to-consumer (B2C) transactions. The negative impact that these increasingly outdated methods have on both senders and receivers has mostly been ignored, however. Such legacy payment methods are usually...
Digital payment innovations like real-time payments (RTP) have given businesses more options to improve slow accounts payable (AP) processes. But many firms lack the know-how for actually adopting these automated processes. In the latest Next-Gen AP Automation Tracker, Carl Slabicki, head of strategic payment solutions...
The supplier relationship is critical for any business. This means providing frictionless and speedy payments and ensuring that the right amount of money is sent to the right supplier at the right time. Many firms still rely on legacy, paper-based payment methods such as checks...
The growing significance of the gig economy is changing how businesses handle their payments. Corporations recognize that paying freelancers for ad hoc projects is a different ball game than issuing regular payroll disbursements to hourly or salaried employees or contracting with large suppliers. Gig workers...
Paper still dominates the AP ecosystem, with 72.4 percent of today’s AP professionals receiving invoices by mail and 43.8 percent by fax. There appear to be signs that many firms are ready to abandon paper-based invoices, however. The Next-Gen AP Automation Tracker’s Deep Dive outlines...
