The 21st century wasn’t supposed to be full of so many headaches. Or so much paper. “Mid-sized companies say their [accounts payable (AP)] departments are spending about 50% of their time collecting invoices and paying suppliers,” Brett Sussman, vice president of American Express Business Blueprint and Banking, told...
When it comes to gig economy companies, a little accounts payable (AP) automation can go a long way. For PYMNTS’ study “Accounts Payable Automation: Why Gig Economy Companies See Payables Innovation as Key to Success,” created in collaboration with Routable, we surveyed more than 200 executives...
Late payments are some of the most difficult challenges businesses face in day-to-day operations, and they can have wide-ranging implications if not tackled swiftly. Money not being where it is supposed to be can result in further delayed payments for vendors, especially in critical areas...
Austin, Texas, platform operator Invoiced has launched a business-to-business (B2B) invoicing network, expanding its solution from accounts receivables to accounts payables (AP). According to Jared King, CEO at Invoiced, “no matter how well you structure it, the conventional AP process includes many tedious steps that...
With late payments resulting in late fees for 41% of buyers in the past year, companies are making accounts payable automation their top priority to keep up. PYMNTS explores how automation is helping transform AP into a customer service function to bolster businesses’ financial health.
Business-to-business (B2B) payments are the lifeblood of the modern economy, with businesses spending trillions of dollars on merchandise, services and other goods from their vendors and creditors. Experts estimate that $120 trillion crisscrosses the globe in B2B payments annually, $25 trillion of which businesses conduct...
Boost Payment Solutions and OneSource Virtual (OSV) have partnered to fully automate invoice payments for Workday customers. This collaboration brings together OneSource Virtual’s new Invoice Pay product and the Boost Intercept straight-through processing solution, the companies said in a Tuesday (June 20) press release. “Together, we are creating a fully...
Many logistics, shipping and transportation companies live and die by their relationships. That’s probably why PYMNTS data in the report “Accounts Payable Automation: Transportation Companies Innovate To Drive Growth,” done in collaboration with Routable, finds that when investing in innovations to modernize their business, members...
Paymerang has acquired two companies to complement its accounts payable (AP) automation offerings. The Richmond, Virginia-based firm announced in a Tuesday (April 11) press release the asset acquisition of KwikTag, an invoice automation provider for Microsoft Dynamics ERP systems, and the share acquisition of Sypht,...
