The great digital shift demands that trucking-transport firms update and modernize their accounts payable processes. Simply put, the paper-based and manual AP processes that have been stubbornly entrenched in transport and logistics have introduced pain points that are exacerbated with swelling payments volumes. In the...
A new study shows that nearly half of transportation and logistics companies plan on innovating their AP platforms within three years. Transportation, shipping and logistics companies have proven essential to the rise of eCommerce, particularly since the pandemic began. Amid soaring demand, these businesses recognize...
Transportation and logistics firms with soaring payables are embracing the automation trend. This is according to the new study “AP Automation: Transportation Companies Innovate To Drive Growth,” a PYMNTS and Routable collaboration, based on a survey of executives from transportation, shipping and logistics companies. According...
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...