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.
Accounts receivable typically isn’t classified as optimized, cutting edge, strategic or progressive department. It’s simply the department that collects money. Yet, if you walk into any business school around the world, you hear professors preaching “strive to get paid today & pay tomorrow.” As a business, you want to be cash greedy in your A/R department. Here are two reasons why you need to be CASH Greedy:
Discover how payments impact your business and relationships.
From improved levels of productivity to lower costs, there are many positive outcomes of maintaining good supplier relationships.
Find out how A/P automation can help transform your business relationships.
Discover more on accounts payable automation:
Did you know that an ERP isn’t really the best option for making payments? Electronic payment options are often very limited. You could be missing out on cash rebates offered with the virtual credit card.
Watch this video and discover the eleven reasons why an ERP is not the ideal payment solution:
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In the after years of the countless technology advances that have disrupted businesses, there are still lagers who haven't adopted to digital transformation. Over half of all business-to-business payments still take place by paper check, sent via snail-mail. Research finds that many of these organizations are complacent with a process that works exactly as it did decades ago.What's the reason behind companies not making the switch to digital payments? Are they the die hard believers of the saying "if it ain't broke, don't fix it?" Or maybe they're a perfect example of a quote from innovator Steve Jobs, "A lot of times, people don't know what they want until you show it to them." We find this especially true when we demo to clients, how easy it is to automate accounts payable payments.