Julie Negrete-Anderson

Executive Vice President, OnPay Solutions

Recent Posts

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.

Virtual Card Payments - AP Automation - Virtual Cards

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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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As a CFO or Controller, you maintain a close relationship with your banker. As a result, working directly with your bank may seem like the natural step to automatic payment or to making your electronic payments easier, especially when you consider the demands for time of your finance staff, knowledge of your IT resources project list, and other staffing limitations. Whether the efforts made by bankers grabbed your attention, or you simply want the fastest or easiest solution, keep in mind that that banking is a results-oriented, sales-driven operation.

Your conclusion is the result of the diligent efforts of your bank's relationship managers, especially if you are banking with a mega-bank. Each such financial institution is continuously focused on driving organic growth by building on the ongoing relationships with business customers like yourself. Banks concentrate on training their people to maintain constant contact for educating business clients on all of the services the bank can provide which translates into deeper and more meaningful relationships.

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While we might like to watch THAT 70’s SHOW, we certainly shouldn’t be living with paper processes of that decade in this day and age.  Unfortunately, Accounts Payable today is fraught with the same manual processes that date back to the 70’s.  Sure, we have computers and amazing Accounting and ERP systems, but in reality, the only missing things from A/P departments these days are typewriters, GL punch cards and the haze of cigarette smoke. 

When it comes to Accounts Payable, paper pushing, printing, stapling, and collating is alive and well.      

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In today’s world, finding time to make payments or transfer funds may be challenging. With management of people and processes, monitoring transactions, bank records reconciliation, creating and managing reports, calculating and monitoring benchmarks, and coordinating compliance, a Controller and his AP department are stretched thin to make everything happen.  Time is further reduced when there are multiple operating entities or subsidiary companies within an organization. 

Yet, paper transactions still dominate all other payments in business. In fact, many companies prefer having a paper trail and feel more at ease than performing electronic transactions. “Checks continue to serve a function because no payment system is perfect for every scenario,” says David Walker, president and Chief Executive Officer of the Electronic Check Clearing House Organization (ECCHO). “Checks are different, in that any one of us who has a checking account can initiate those payments to anybody else.” Although paper checks must still relied on for some same-day transactions, like an unexpected C.O.D. package delivery, the dwindling of paper check transactions is upon us.

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7 Challenges Accounts Payable Managers Face

Written by Julie Negrete-Anderson | Thu, Feb 25, 2016 @ 03:11 PM |

Accounts payable managers will face new challenges due to technological advances, multiple payment channels, and pressure to reduce costs. Cloud technology and software automation, for example, have opened many doors for accounts payable managers to streamline processes, but there are still uncertainties on when and how to make AP changes to realize the benefits of these new opportunities. This adds a level of complexity to the accounts payable manager's job while at the same time providing hope of greater flexibility and insight into the data generated from AP. To help, we will address some of the biggest challenges accounts payable managers will face in 2016 and how best to prepare.

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How to Survive a CryptoLocker Attack

Written by Julie Negrete-Anderson | Wed, Jan 06, 2016 @ 01:48 PM |

CryptoLocker. Just looking at the word is enough to induce a headache for any CIO or IT manager. This malware not only encrypts all your files, but any other files they are connected to – making the impact long-lasting and devastating.

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Margin and earnings performance along with cybersecurity challenges were ranked as the top two risks facing CFOs in 2016, according to a recent survey.

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