Artificial Intelligence, Machine Learning, the advancement of technology. How does it affect you, and why should you care?
The shift to electronic payments and ACH has created some interesting implications for cash application teams. While it seems that electronic payments should be easier and faster to process than paper checks, the ways of providing the corresponding remittance, including via email, have had a negative impact on accounts receivable. Now, cash application teams have to find new ways to process these ePayments.
The ones closest to a problem sometimes avoid it the most. Small to mid-size businesses accounted a little under 60% of all sales and 55% of all jobs in the US. With that said, we all can agree that small to mid-size business are an important thread in the fabric of this country and around the world.
Looking into the future, change can be scary, but exciting, it’s uncomfortable yet enduring the process we adapt and change just as our businesses. B2B payments are evolving from paper checks to electronic payment delivery. This paradigm shift from paper checks to electronic is creating a new timeline for payment delivery.