Nearly all “mass payout” companies believe that their accounts payable (AP) systems’ inability to handle volume is preventing them from growing. That’s one of the findings of “High-Volume Accounts Payable,” a PYMNTS and Routable collaboration based on a survey of 204 executives from mass payout...
Growing payments volume is one sign of a healthy business, provided businesses can suitably service increasing mass-payout needs without crimping growth with legacy methods. Being an accounts payable (AP) laggard is known to have negative impacts downstream, and with so many FinTech options available, there’s...
Businesses of all sizes experience inefficiencies when dealing with a high volume of payables, or “mass payouts.” Regardless of the actual volume of payables a company processes each month, organizations that lack the solutions and infrastructure to manage this aspect of their operations efficiently will...
As businesses continue their digital transformations in the pandemic’s aftermath, digitization of business-to-business (B2B) processes still has some catching up to do. One of the most crucial of these processes is invoicing. A 2019 report estimated that companies and their business partners exchanged more than...
Inefficient invoicing systems in the construction industry can mean missed deadlines, cost overruns and schedule delays. In the "AP Automation Tracker," Shep Hickey, CEO and founder of online steel marketplace Bryzos, explains the role of automated invoicing in adding transparency, cost efficiency and accuracy, while...
Almost 4 out of every 5 finance leaders in the U.S. and U.K. believe their firms’ accounts payable (AP) operations can’t sustain continued growth, with many of them blaming inefficiencies from the use of manual processes, which they say are also leading to fraud and...
While many businesses have fully digitized their consumer-facing operations, they still have a lot of work to do in transforming their business-to-business (B2B) processes. A recent report estimated that companies and their business partners exchange more than 550 billion invoices annually — a number set...
Capital management is a constant challenge for all types of businesses, requiring them to invest vast sums to manage cash flow, accounts payable (AP), accounts receivable (AR) and other related tasks. Problems range from incorrect invoices to lack of cash on hand to late payments,...
Where paper checks and manual processes are the best-known sources of payment errors and bottlenecks, AP automation is increasingly coming to the rescue. In the “AP Automation Tracker,” Tanner Busby, finance director of Procure to Pay strategy for Microsoft, explains how companies are saving time,...
