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Legacy payment options like paper are getting nudged out by faster better methods like credit cards, which are more cost-effective for buyers’ accounts payable (AP) teams to send and quicker for suppliers’ accounts receivable (AR) professionals to receive. It’s time for a solid path to AP modernization, and the industry gets it.
In manufacturing plants, call centers and many other workplaces, automation is the standard. However, when it comes to corporateaccounting departments, automation is still the exception. Yet, even with so much to gain, 59 percent of businesses have yet to implement any form of APautomation.
I really don’t think in today’s day and age that you can ignore the AP or the AR digitization question,” Dearborn said of the increasing merge of the corporateaccounts payable and accounts receivable functions. And apparently, he’s not alone. How Do We Get There?
This week’s B2B payments Data Digest rounds up top statistics from Invu’s report that led the APautomation firm to call for change. In its survey of 200 financial decisions at U.K. Twenty-three percent of survey respondents say purchasing processes must be fixed ‘as a matter of urgency.’
That’s especially true in corporateaccounting, says Beanworks CEO Catherine Dahl. It’s an interesting time in accounting, and there’s a huge change coming,” she recently told PYMNTS, adding that digitization will become the norm, empowering humans to take on more strategic tasks while technology handles the repetitive stuff.
Corcentric announced a new acquisition to help the company expand its reach into the corporateaccounts payable space. 27) that it reached a deal to acquire eInvoicing provider InfoAccess.net, a move that pulls InfoAccess.net’s list of corporate clients under the Corcentric umbrella. The firm said Thursday (Oct.
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. And operations still using manual accounts payable (AP) methods are really rethinking things. “A Doing More With Less.
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