Do you know the advantages of accounts receivable automation? Traditionally, a bank lockbox has been used by company Accounts Receivable departments to increase convenience and efficiency.  Lockboxes have been around for decades and much of the traditional bank lockbox's life has been utilized for capturing payment data associated with payments made by check. Commercial banks offered this service to improve efficiency and flow of business transactions simplifying the accounts receivables collection process.

Customers basically leverage the Bank Lockbox to receive check payments in one consistent location. 

ACH transactions to top checks as the top form of B2B payment by 2020. Is your business ready for this payment transformation?

There is no doubt that current FinTech trends have been making a tremendous impact on the role of C-level executives - particularity the CFO. In the past year, we've seen technology create an ever-changing business world resulting in the C-level exec donning a greater focus on strategy and taking a broader approach to business leadership. It's safe to say the CFO has been stepping into a similar role as the CEO.

With technology constantly shaping and disrupting corporate strategy and the way organizations do business, its becoming more important to establish a relationship between CFOs and CIOs.

Today, more than ever, there is an elevated interdependency between the two C-Suite executives to ensure IT spending is aligned with corporate strategy. Its essential for the CFO and CIO to make sure their company is not left behind in a digital environment that is redefining how work gets done, both in the back office and in front line operations.

A CFO's role in a company has transcended closing the books monthly, quarterly & annually...you make strategic decisions in the company and need technology to help improve operational efficiencies and profitabilty.

A new year means a time for change, innovation, growth and betterment. We all set personal and professional New Year's resolutions — some resolutions we keep, some we break...some we never start. 

As Benjamin Franklin once said, "An investment in knowledge always pays the best interest" —and at OnPay Solutions, we couldn't agree more.  

Since "payments is all we do", we are always on the hunt for the best payments and finance-focused news/informational websites in order to stay on top of what is trending within the industry. We also try to remain current on what our CFO/Controllers, CIO and Accounts Payable partners and clients would find informative and interesting and came up with a list of websites.

In the holiday spirit of giving, we are sharing our list of the [CFOs/Controllers, CIOs & Accounts Payable] 11 Websites To Check Out in 2017.

Before we look at how a cloud-based payments system could benefit your company, let's first look at what "the Cloud" really is.

The Cloud, otherwise known as Cloud-computing is storing and accessing data over the internet versus the computer hard drive.

Not that long ago, all files could only be accessed by physically sitting by and logging into "the computer" hard drive. Today, however, many individuals take advantage of the advances in technology and utilize the cloud to conduct their personal lives. They can access email, share file docs, schedules, and financial information/bill pay from anywhere, anytime.

Many businesses are seeing the benefits and jumping on the cloud banwagon as well. Most recently, many businesses are moving to a cloud-based payment automation system. WHY? you ask.....

How can Your Business benefit from The Cloud — specifically a cloud-based Payment Automation System?