Accounts payable (AP) staff have been working extra hours as they use legacy and manual procedures to handle a growing number of invoices. Seventy-five percent of AP teams reported processing more invoices in the last quarter, according to “Demystifying AI’s Capabilities for Use in Payments,”...
In today’s fast-paced business world, companies are constantly looking to streamline operations and increase productivity. One area in need of this streamlining that often requires significant time and effort is the management of accounts receivable (AR) and accounts payable (AP). Automation can cut delays by...
Business-to-business (B2B) payments play a crucial role in the modern economy, with experts projecting a staggering $111 trillion in transactions between businesses by 2027. However, the traditional methods of payment, such as paper checks and Automated Clearing House (ACH) payments, continue to impede the progress...
When and how much a business gets paid can determine whether it will survive. But it is the technical architecture around that payment that can set a business up for success. “The world of business today is moving super-fast, and that certainly applies to the...
Automation can improve efficiency, speed and accuracy in accounts receivable (AR), reducing days sales outstanding (DSO) and expediting payments. It also streamlines complex, error-prone accounts payable (AP) processes that many firms use. “Solving Accounts Payables’ Top Frictions With Automation,” a PYMNTS and Corcentric collaboration, drew...
Businesses looking to automate their accounts payable (AP) and accounts receivable (AR) piecemeal may want to start with their customer support. Payment delays have plagued businesses since time immemorial, particularly in certain sectors such as construction. However, firms that have not yet substantially automated their AR...
The paper check remains firmly entrenched in B2B payments in the United States. Finexio Chief Commercial Officer Bill Fox recounted to PYMNTS that elsewhere around the world — especially in Europe — checks are not part of the equation when it comes to commercial transactions. Government mandates decree...
Legal billing software platform Aderant has launched new paperless billing capabilities for law firms. These capabilities are part of the newest version of its flagship practice management software, Expert, used by most of the world’s biggest firms, Aderant announced in a Monday (Aug. 21) news release. “In...
Accounts receivable (AR) and accounts payable (AP) workflows rely on labor-intensive, manual processes prone to human error and delays — but specialized software and automation are changing that. Digital technologies act as engines for efficiency, speed and accuracy, enabling companies’ AR teams to reduce their...
