Surely, most companies are familiar with the disadvantages of paper, yet they continue to put their A/P staff through the mundane process of dealing with this outdated culprit. Searching, sorting, filing, collating, entering data, fixing data, searching again and everything in between are the largest time wasters and pain points of countless A/P departments.
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.
According to an Association for Financial Professionals (AFP) study funded by JP Morgan Chase, more than 70% of organizations surveyed are struggling to convert to accounts payable automation and electronic payments.
Despite liking the idea of financial technology innovation, these companies cite employee, customer / supplier hesitance and IT barriers as fears the hold them back from the transition...just to name a few.
Read on for the fears, the myths...and the facts of AP payment automation.