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AvidXchange Takeover Targets Banks’ AP Processes

PYMNTS

Accounts payable automation company AvidXchange is strengthening its position in the banking and financial services sector through the acquisition of BankTEL, the company said Tuesday (Aug. AvidXchange has reached an agreement to acquire BankTEL Systems, which provides accounting technology to banks.

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Ancora On Streamlining AP Processes With Machine Learning

PYMNTS

The drive to eliminate paper in the accounts payable process, to cut the steps that lead to inefficiencies, continues to get a boost from technology. But, as he noted, procure-to-pay processes involve manual labor across several steps.

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OnPay, CapX Partner On AP Automation

PYMNTS

We are thrilled to partner with OnPay [Solutions] and introduce our clients to the incredible benefits of accounts payable automation,” said Lindsay Tsumpes , co-CEO of CapX, in the release. She said some organizations hadn’t evaluated the costs because they were “baked into” how they were looking at department expenses.

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Finance Leaders Drive Efficiency by Automating AP and Payment Processes

CPA Practice

“As businesses continue to face a number of challenges and pressures, finance teams are being tasked with finding new ways to drive operating efficiencies and get more control over cash flow,” said Brian Greehan, head of B2B Solutions for Global Payments. “In Almost half (45%) of firms looking to hire anticipate hiring challenges and delays.

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U.S. Bank’s AP Tool Eases Virtual Payment Adoption

PYMNTS

Bank’s latest offering for corporate treasurers aims to simplify the shift from manual to virtual B2B payments. 26) its latest tool, APConnector, as a way to automate and digitize accounts payable, while integrating that process into existing ERP systems. The bank announced Wednesday (Oct. Bank, reports said.

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More CFOs Managing WFH With AP Automation

PYMNTS

Accounting departments, for example, suddenly had employees accessing highly sensitive data remotely via home Wi-Fi, without the data security extant in office-based accounting as we’ve long known it. The report delivered particular insight into American businesses’ priorities as 66 percent of respondents were located in the U.S.

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AP Professionals Often Their Own Biggest Hurdle In Automation

PYMNTS

Outsourcing key functions of the enterprise may allow professionals to finally turn their attention away from the minutiae of manual processes and toward more strategic, value-added activities. High vendor volume and supplier turnover rates, for instance, are among the biggest challenges to AP automation.