Accounts payable (AP) departments all too often employ inefficient processes that slow down workflows, and delay supplier payments. Reliance on outdated practices — including paper checks, manual data entry and payment processing, and even fax machines and snail mail — creates major speed bumps,...
This week, Fundbox, a B2B payments startup attempting to fix the “net terms” economy, raised $176 million in equity, a sign that changing the invoice settlement system presents a big opportunity. In an interview with PYMNTS, Eyal Shinar, CEO at Fundbox, characterized this as an...
Processing invoices is time consuming and costly. The average business requires 14.1 days and approval from two to five people in order to process a single invoice. It may even take more of each when invoice payments are particularly large or nonrecurring. It is easy...
Middle market companies need help navigating the complexities of AP management – especially when it comes to cross border, cross currency payments. Tipalti CEO Chen Amit tells Karen Webster a holistic approach has helped his firm grow bookings by triple digit percentages.
There is no standard onboarding process, so businesses are largely free to design their own. Most firms cover the basics, by collecting suppliers’ names and addresses (72.5 percent do this) and credit information (65.9 percent). Still, others use onboarding to verify much more specific information,...
California-based global payables automation platform Tipalti has launched NetNow to accelerate supply chain payments. The new accounts payable solution aims to improve its clients’ supply chain relationships and financial health, Tipalti said in a July 17 press release. Global finance organizations that use Tipalti to scale...
When it comes time to pay suppliers, most accounts payable (AP) professionals will use whichever payment method they need to get the job done — but most are unhappy with what they currently use. Paper checks are AP departments’ seventh-favorite way to pay suppliers, yet...
Integrated accounts payable (AP) management can streamline costs and efficiencies where executives grapple with paper-based processes. Jessica Moran, general manager of Paymode-X Business Solutions at Bottomline, explains why a holistic approach to AP management is an ideal one.
Accounts payable (AP) processes are anything but efficient, mired in paper and manual labor. Waiting for the fax machine to break is no spur of change, either. However, as Matt Clark, president and COO of Corcentric tells Karen Webster, focusing on people, process and, of...
