Small to mid-sized businesses (SMBs) encounter numerous pain points when making and receiving business-to-business (B2B) payments. Many are stuck in the past, with 20% relying on checks and 23% relying on regular ACH as their go-to methods of sending payments, and there is significant asymmetry...
Online marketplaces are growing at a tremendous pace because of the economy’s digital shift. Executives now recognize that, paradoxically, the faster their monthly payables volume grows, the harder it will be for them to manage and continue operating efficiently. More than four in five online...
As payables grow, so does the complexity and room for error, which finds many corporates turning to enterprise resource planning (ERP) systems to automate this processing pain. In “The ERP Solutions in B2B Payments Tracker®,” a PYMNTS and American Express collaboration, we delve into how...
Small to mid-sized businesses (SMBs) face numerous pain points in making and receiving business-to-business (B2B) payments, adding significant friction to accounts payable (AP) and accounts receivable (AR) processes. An all-in-one payment platform can address many of these headaches. Ninety percent of SMBs that adopted an...
Payables automation provider Scrypt has teamed up with Finexio, a digital Accounts Payable-as-a-service company, according to a Thursday (July 21) press release. The collaboration creates a solution that marries Scrypt’s artificial intelligence (AI)-driven payables platform to Finexio’s cloud-based B2B payments infrastructure, the release stated. “By...
B2B payments platform Melio has joined forces with Capital One Business to launch an accounts payable solution. “This strategic partnership will enable Capital One small business cardholders to pay their vendors and suppliers with a card — even if they do not accept credit cards...
Invoice processing automation streamlines workflow beyond the obvious benefit of reducing workloads by replacing a paper-laden process that requires hours of manual labor with one that has been entirely digitized. It turns out that automation reduces not only staff workload but also errors and fraud...
When members of accounts payable (AP) teams at specialty dealers suddenly had to start working remotely during the pandemic lockdowns, they quickly saw that they needed to adopt new ways of doing things. Although team members were in different locations, dealers still needed to pay...
In identifying and fixing payments errors, in the move to eliminate waste, it’s time to end the spot check. Matthew Tillman, CEO of OpenEnvoy, told PYMNTS’ Karen Webster that a staggering number of invoices contain errors, and firms of all sizes make erroneous, duplicative payments....