Eric Jefferies

There are many reasons for automating accounts payable, many more than we can describe in this list.  Nevertheless, these are the TOP 12 wishes we heard within this year from Controllers and A/P Managers who were looking to improve their departments by automating payments and accounts payable.

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Many corporate finance leaders want a more productive, streamlined, automated digital system that is paperless but know that budgetary restrictions would not allow for building a business case for accessing the capital required to improve their organizations. This is a common misconception based in these facts: ERP system upgrades are expensive and time consuming (7-9 months conservatively) and require outside consultants; onboarding to a new ERP system is more expensive and more time consuming (12-24 months) and also requires consultants as well.

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Two Recent Awards and Why They Matter to You

Written by Eric Jefferies | Thu, Nov 01, 2018 @ 10:48 AM |

Typically in our blog postings we don't toot our own horn.  We usually talk about finance, accounting, accounts payable and accounts receivable and how they can be improved, what steps to take to improve them and at the end of each blog, we offer some related reading or videos to support someone who has taken the time to read our posting, knowing that they may have more questions or want more details thereafter. 

In today's blog posting, however, we are going to take a moment to pat ourselves on the back for two awards received this month and tell you why they probably should matter to you: 

First -- OnPay Solutions has been named to CFO Tech Outlook's Top 10 Accounts Payable Solution Providers - 2018.  Our onpayconnect.com platform is recognized as streamlining and optimizing Accounts Payable departments everywhere.  From mid-sized businesses that issue 600 payments a month, to large, diverse organizations with multiple locations and P&Ls and diverse banking relationships, we can transform manual paper processes to electronic processes and make the department infinity more productive.  

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Solving Accounts Payable Problems

Written by Eric Jefferies | Thu, Oct 18, 2018 @ 04:11 PM |

If you're in Accounts Payable, you probably realize that things aren't quite as automated and streamlined as they are in some other departments in your organization.  This is true for even the most progressive companies.  It's for good reason, too.  Controllers want to maintain control of cash going out the door.  Cash is KING in any organization!

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It's Accounts Payable Appreciation Week and we thought we should share some of the ways that this unsung hero of every business can really impact the company and it's overall performance. 

Of course, we should clarify that we are talking about an Accounts Payable Department that is automated and issuing electronic payments.  Electronic Accounts Payable can provide advantages such as time-savings, controlled expenses, added flexibility and greater visibility to cash-flow.  But there are greater advantages that this department can make on your business that you may not have considered:  

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By converting to ePayments or digital payments, an organization can expect an immediate return on investment (ROI)

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If you are using your bank’s treasury services for payment processing, you are reaping the benefits of having outsourced the process.  At the same time, you are tied to that one bank...meaning you are required to hold the cash to fulfill payments in their accounts, therefore, your bank portfolio may not be as diverse. You may not be aware that there is a better way to issue payments. 

Using a payment platform that is bank-neutral – meaning it can work with any bank – is a better option. 

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You're a CFO, Controller, Treasury Manager or another leader in a corporate finance and/or accounting department, and despite the fact that it's a long holiday weekend, you likely don't stop thinking about what you can do better, right?  You want to perform better and help your company achieve more, right? You strive for success and you contribute to that in your company as well, we bet. 

We know a lot of people like you and we help them...leaders who have goals in mind and aim to achieve them.   All want to reduce cost and improve profitability.  Most want to improve processes and streamline tasks and a few come ready for "digital transformation."  

Every one is different yet the same.  DRIVEN, COMPELLED to be the best they can be. 

If this sound like you, you may enjoy our short and sweet podcast series.  Each podcast is under 5 minutes long.  

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