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The adage “if it ain't broke, don’t fix it” really only works in specific scenarios. It’s a good rule to follow for things like lawnmowers, cars, and electronics, but what about B2B payments? What if something is functional but not optimal? What if your current processes work okay, but they cost you precious time and resources?

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Debunking Myths about Virtual Cards in AP

Written by Ben Frank | Thu, Oct 03, 2019 @ 05:36 PM |

Original published on May 26th, 2015. Updated on October 3rd, 2019. 

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If you are a CFOControllerCIO 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.

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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.

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