American Express is joining forces with collaborative accounts receivable (AR) provider Versapay to help its clients improve the AR process. According to a Tuesday (May 10) news release from Versapay, the partnership will give suppliers who use American Express virtual cards access to Versapay’s AR...
Companies have dramatically changed the way they conduct business in just a few short years, especially when making and receiving vendor payments. The pandemic and the widespread shift to remote work are likely to remain the status quo for the foreseeable future and have forced...
Accounts receivable (AR) processes are vital and are something that’s done every day, yet they remain complicated. One challenge AR professionals face is that 93% of organizations receive late payments from customers that result in cash flow delays. A new study, the November 2021 Working Capital Playbook, a...
Accounts receivable (AR) processes are a necessity for all businesses that deal with a substantial number of customers. Firms must ensure money arrives on time and is in the right place for corporate uses, including payroll, vendor payments or cash management purposes. This vital everyday...
Throughout the pandemic, business survival — especially small business survival — has increasingly depended on how well businesses have been able to manage the great digital shift. The pivot toward running back-office operations and taking payments online has not been universal. More than other verticals,...
The pandemic has been a game changer that resulted in an economic downturn, the closure of many brick-and-mortar businesses and a massive shift in the number of employees working remotely. Thirty-five percent of employees worked from home at the pandemic’s height in May 2020, throwing...
Cash flow considerations are not limited to one sector or business type. Delays or errors in the process can have colossal ripple effects in all industries. Firms that lack the free capital to ensure timely payroll, vendor payments and a host of other necessities could...
The collapse in income following the pandemic’s onset in March 2020 sent a shockwave through the travel and tourism sector. Large travel and tourism firms in the United States — those with at least $100 million in annual revenue — had 44% of their bookings...
Despite a massive wave of digitization among businesses of all kinds over the past 20 months, days sales outstanding (DSO) has increased since 2019, threatening cash flows and operations. PYMNTS studied the problem in Accelerating the Time to Realized Revenue, a Mastercard collaboration, which surveyed...
