Businesses relying on paper-based AP methods could be losing out on thousands if not millions of dollars, Bank of America’s Brad Garfield says. In this month’s Next-Gen AP Automation Tracker, Garfield explains how AP optimization tools can help companies identify key cost-saving opportunities when paying...
Businesses that have stuck with paper-based accounts payable (AP) processes are feeling the heat as the COVID-19 pandemic makes it unsafe for staff to conduct manual invoice and payment processing from their offices. Companies are looking for digital tools to help them maintain their operations...
Restarting and reinventing the U.S. economy will involve accounts payable (AP) automation. Count on it. “Buyers need upgraded AP tools that provide detailed views of their finances and outstanding invoices to keep their operations running smoothly,” according to the latest Next-Gen AP Automation Tracker® done...
Finance professionals spend considerable time and effort using manual accounts payable (AP) processes that require sorting through paper documents and keying invoice details into their internal systems. These legacy methods provide scant details about payments’ statuses, however, which can make it difficult to reassure vendor partners that their funds are on the...
Selling iced tea in summer is big business, and one that requires beverage brands to manage supplier payments for everything from tea leaves to bottle caps. Issues arising from invoicing errors can shortchange suppliers or bleed buyers dry with overcharges, however. In this month’s Next-Gen...
Late payments have always plagued business-to-business (B2B) commerce, but the problem is coming to a new head. Financial instabilities that many companies are facing due to the pandemic has made compensation delays even more painful to suppliers. Corporate buyers are therefore looking for ways to...
Accounts payable (AP) fraud is a major threat to businesses, with 82 percent of approximately 600 corporate treasury and financial employee respondents reporting their companies were subject to payments fraud attempts in 2018. Forty-three percent said their organizations lost money as a direct result of such attacks. These schemes can play...
Stay-at-home consumers are unlocking their inner chefs and turning to various spices, blends and rubs to build out flavors. But getting seasonings from growers and into consumers’ hands depends on spice purveyors’ ability to securely manage payments to as many as 100 different suppliers worldwide....
