In today's digital world, receiving a paper check seems like something of the Stone Ages. Not only is there a significant lag time before the check is transferred from Payer to Payee - but there's also the daunting task on the receiving side of getting deposited either via electronic means or good old-fashioned driving it to the bank.

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Are you a CFO, Controller, CIO or Accounts Payable Manager?

 

Are you interested in making plans for attending educational or other conferences later this year?  

Here you will find a list of conferences from around the nation that offer opportunities to explore, discover, and widen the scope of your financial knowledge. With conferences held at intervals over the next few months, there is plenty of opportunity to find an event to attend that sparks your interest, is close in proximity, or better yet - both.

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A CFO's role in a company has transcended closing the books monthly, quarterly & annually...you make strategic decisions in the company and need technology to help improve operational efficiencies and profitabilty.

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The ability to automate costly and time-consuming workflows has changed the way businesses operate and manage their resources, and some savvy businesses have already jumped on this trend and implemented automated-software solutions to improve their accounts payable department.

Many AP managers, however, are failing to take advantage of the opportunities Accounts Payable automation provides to remove many of the points of friction in the buyer and the supplier interaction. But the benefits of AP automation are paramount, and implementing the solution can have an enormous impact on reducing AP costs.

Below we put together a list (or cheat sheet) that highlights five ways accounts payable managers can save time and money with AP automation.

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With the proliferation of automation in Manufacturing, Human Resources and Sales & Marketing, do you think your peers within your company would be surprised to learn that your Accounts Payable department still writes paper checks to suppliers and vendors?  Would your family and friends think that working where you do that accounts payable systems must certainly be automated? 

When talking to newly onboarded clients, they often admit the barriers that held them back from transitioning to accounts payable automation in the past. 

Do any of these barriers sound familiar?

 

Barrier #1- Not enough time

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All of us here at OnPay Solutions would like to wish our Blog readers who are football fans the best of luck for your favorite Super Bowl LI (51) team.

Who's it going to be?  New England or Atlanta?  Let us know your pick!

To win this game you know that the team's have to be able to score.  

When it comes to making Accounts Payable payments, broker payments or any kind of scheduled payments, we'd like to help you be a winner and become a Accounts Payable Perfect Payer, which can be looked at much like a Perfect (football) Player.  Just like the Perfect Player, you have to know how to play effectively and how to win.

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According to an Association for Financial Professionals (AFP) study funded by JP Morgan Chase, more than 70% of organizations surveyed are struggling to convert to accounts payable automation and electronic payments.

Despite liking the idea of financial technology innovation, these companies cite employee, customer / supplier hesitance and IT barriers as fears the hold them back from the transition...just to name a few.


Read on for the fears, the myths...and the facts of AP payment automation.

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[Webinar Recap] Maximize Your Virtual Card Program

Written by Tessa Tavares Costa | Thu, Jan 19, 2017 @ 05:01 PM |

Maximize your virtual card program- An acquirer’s perspective on optimizing vendor participation

Do you have vendors who are unwilling to participate in the virtual card program – or worse, vendors threatening to unenroll? Is the cost of transaction acceptance a barrier to participation? 

On January 18th, Ryan Rybolt, CEO of Infintech teamed up with Neal Anderson, President & CEO of OnPay SolutionsTM to talk about how a company could maximize its virtual card program — an acquirer's perspective on optimizing vendor participation. They explored easy ways to simplify the vendor enrollment process and reduce the costs vendors pay to accept virtual card payments. 

From common vendor objections and effective responses and techniques to minimize credit card acceptance costs, without affecting the rebate, to overall payment industry trends and emerging technologies, Rybolt addressed it.

Missed the Thought Leadership webinar? No problem. We have provided a recap of the highlights below.

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