In today's digital world, no one really uses checks regularly for their personal transactions.  Ask anyone outside of the finance industry the last time they saw a paper check, and they'll more than likely tell you it was while binge-watching a 70's sitcom. The steps required to process check files are also very dated.  In business, your advanced ERP may output the file seamlessly; there's just no getting around the folding, stuffing, and mailing unless you outsource that to a department with machinery to handle that for you. 

Why would a FINTECH company that specializes in Accounts Payable and Accounts Receivable put this headline in writing, let alone in their own BLOG posting? 

If you're a complex organization with multiple P&Ls that's looking to gain better control and reduce the time of your accounts payable process while reducing your G&A expenses, you probably already know that a digital transformation can help get you there.  At the same time, you may believe that such a transformation will take months or even years and you may foresee a lot of up front investment and pain in the process.  

If you are a CFO, Controller, CIO or Accounts Payable Manager, you have a lot of great low and no cost options when choosing ways to sharpen your and your team’s skills. There are blogs, video blogs, podcasts, and webinars that are available to provide you and your team new ideas and approaches to your enhance your current processes to make them more streamlined and efficient.

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.

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.