Payments are the lifeblood of any business, especially those that work with vendors to transact for goods and services. United States companies conduct more than $25 trillion in business-to-business (B2B) payments annually, and B2B transactions account for $120 trillion globally each year. This figure is expected...
Accounts payable (AP) automation not only helps businesses save countless work hours when operating remotely — it also enables suppliers to be get paid faster. In this month’s AP Automation Tracker, Great Harvest Bread CEO Mike Ferretti explains how businesses use payments automation to overcome...
Worldwide, business-to-business (B2B) payments volume clocks in at $120 trillion per year, but many organizations still primarily rely on manual processes to keep their accounts in order. One PYMNTS study found that 25% of B2B payments are made via paper check, with a significant number...
As companies change how they deploy capital, accounts payable (AP) processes have become more complicated. When they decided it was more efficient to put spending into the hands of all the individuals in a company, it created a roadblock between those who are spending the...
When the pandemic struck, companies around the world began automating their accounting systems to be able to make and receive payments without having to go to the office. However, the benefits of accounts payable (AP) and accounts receivable (AR) automation aren’t limited to convenience. For...
The payments technology firm Priority Technology Holdings has launched a partnership with Procurement Partners, which provides procure-to-pay (P2P) solutions for post-acute care and senior living communities. The collaboration, announced Thursday (Jan. 13), will see the integration of the Priority Commercial Payments Xchange (CPX) into Procurement...
Many businesses digitized their accounts payable (AP) and accounts receivable (AR) operations during the pandemic as manual processes became too difficult or impossible to conduct. What began as a necessity for survival quickly evolved into a convenient and efficient way to speed up payments and...
Small businesses can capitalize on eCommerce opportunities — but only if outdated accounting processes don’t hold them back. In the inaugural AP Automation Tracker, Ben Richmond, of cloud-based accounting platform Xero, explains how harnessing automation can help small companies reduce manual errors, cut labor costs...
Manual invoices continue to be a pain point for many businesses. They tend to be costly, inefficient and prone to human error, and the pandemic has only exacerbated many of these issues. Organizations that previously compensated for the shortcomings of their manual systems are now...
