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 The negative impact that these increasingly outdated methods have on both senders and receivers has mostly been ignored, however.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...
Businesses can reap clear return on investment (ROI) from accounts payable (AP) automation, yet find themselves hamstrung when partners in their supply chain still live in a legacy-payment world. In the latest Next-Gen AP Automation Tracker, Rich Wessels, treasurer for transportation and logistics tech company...
Shifting away from paper-based accounts payable (AP) practices could be a game-changer for many organizations. AP professionals must first be willing to take the first step to embrace automation, but some firms are wavering over whether they are prepared to do so. Many AP professionals...
Paper-based processes are widely used in AP departments, with recent PYMNTS data finding that 80.8 percent of firms use paper checks while 43.8 percent receive their invoices via fax. Such methods can be cumbersome and exploited for fraudulent purposes, however. The Next-Gen AP Automation Tracker's...
Automating accounts payable (AP) means the paper check will soon no longer be in the proverbial (and literal) mail. In the inaugural Next-Gen AP Automation Tracker, Uma Wilson, executive vice president and director of product management at UMB Bank, explains how the bank works to...
