Software-as-a-service (SaaS) solution providers experience a bevy of challenges when managing their non-payroll spending. For one, these firms too often rely on time-consuming, inefficient manual processes to manage this spend, which includes suppliers’ invoices and employees’ expenses, leading to delays impacting critical parties. Another flaw...
Offering early payment discounts is a common practice among suppliers and vendors to incentivize their customers to pay their invoices on time, but PYMNTS’ research finds that many software-as-a-service (SaaS) firms experience errors and delays when paying their suppliers, even though they are as liable...
The accounts payable (AP) department is about to find itself short-staffed. As OpenEnvoy CEO Matt Tillman told PYMNTS’ Karen Webster: “There’s not a lot of people moving into the profession, and there are many people who are retiring from that profession.” Labor costs, too, are...
Digital content management platform Intellinetics has collaborated with building industry software provider Constellation HomeBuilder Systems to create a solution that fully automates the accounts payable (AP) process. Intellinetics’ IntelliCloud Payables Automation System (IPAS) is an AP automation module that is integrated with Constellation’s Newstar Enterprise,...
Business-to-business (B2B) software-as-a-service (SaaS) solution providers too often lack full visibility and proactive control of their non-payroll spending, including invoices received from suppliers and vendors. A deeper dive into how each type of SaaS solution provider manages their non-payroll spending reveals that these firms rely...
Efficiency is the key to preserving margins in an age where macro-concerns dominate and inflation rages. Chief financial officers (CFOs) and their finance teams are well aware of the need to run leaner. At the same time, the demands on those finance professionals are only...
Gig economy companies have long exhibited rapid growth, and payables volume, particularly, is spiking. Within the industry, 96% of companies experienced an increase in the average number of payables processed each month during the last year. This growth is expected to continue for the next...
Real-time data. API-driven connectivity. Speedy analytics. The advantages of technology in the service of B2B activities — streamlining back office functions — are readily apparent. Especially when it comes to better managing non-payroll spending, as relayed by our joint survey of 225 Software-as-a-Service (SaaS) firm...
Business payments platform Routable has expanded its capabilities, adding new features for automated invoice data entry, a press release said. The company has added Optical Character Recognition (OCR), which will let the Routable platform automatically scan invoices and create payables. This will make it so...
