Seventy-one percent of transportation and logistics companies process an average of at least 1,000 payables each month. These high volumes put these companies under enormous pressure. Transportation and logistics companies are meeting the associated challenges by investing in automating their accounts payable platforms. In “AP Automation:...
Automating purchasing functions lead to better strategic decisions. Ted Contreras, product manager for accounting at Airbase, told PYMNTS that using technology to automate procurement and integrate purchasing functions helps midmarket firms gain some much-needed agility. Midmarket firms, he said, are typically defined as those enterprises...
Non-payroll spend management software is helping businesses deploy, account for and control their money. This not only drives growth but PYMNTS’ data found that just 55% of these firms currently use such a system, meaning that nearly half have limited access to real-time data and...
The benefits of streamlining and modernizing the payment experience through digital tools and forward-looking investments appear to have sunken in. New research shows nine out of 10 chief financial officers surveyed by PYMNTS said their companies were either investing in payments digitization already or have...
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...
