Let’s face it – paper is a thing of the past. Compared to automated electronic payments, paper simply cannot compete. Paper payments are more time consuming, take up space, and invite the dangers of inaccuracy, loss and fraud. Who wants …
Drive Your Company To Success With Procure-To-Pay Automation
Regardless of how well your AP department is currently performing, it is essential to continuously improve your workflow processes – and the best way to do that is with procure-to-pay automation. Technology constantly evolves. So it is important to make …
Future-Proof Your Business with Electronic Payments
Times are always changing. But this year they seem to be working overtime! Finding ways to future-proof your company is top of mind for every business leader. But finding solutions to survive these uncharted waters is no easy task. So …
5 Myths About Electronic Payment Processes – Debunked!
Electronic payment processes make some people nervous. They shouldn’t. But we live in an era of email accounts being hacked, online health records being leaked, and other digital concerns. So, many business leaders find themselves nervous about switching to an …
Choosing the Best Form of Electronic Payment Automation for Your Company
In today’s digital world your company can choose from a variety of electronic payment automation platforms and election payment services. Let’s examine how electronic payments can not only save money and improve efficiency, but how they can add to your …
7 Reasons to Move to Electronic Payment Automation
According to The Accounts Payable Network, the benchmark of cost of cutting a paper check for the average company is $5.14 per check. That makes cutting paper checks more expensive and far less efficient than making electronic payments no matter …
Full End-to-End Procure to Pay Automation
When you seek to modernize and digitize your AP department be sure to look for full end-to-end procure to pay automation. Many software companies advertise themselves as procure to pay process automation, but most of those solutions focus on only …
How Virtual Card Payments Automate AP and Improve Your Bottom Line
It’s not often that the Accounts Payable department gets to be a profit center, but virtual card payments not only automate the payment process, they can improve your company’s bottom line! In today’s digital world, the use of paper checks …
What is the Difference Between a PO and Non PO Invoice?
When automating accounts payable it is critical to understand the difference between a PO and non PO invoice. Purchase orders (POs) and invoices are commonly confused in finance terms. This is because both communicate payment terms and payment amount. So …
What are Early Pay Discounts…And How Can You Get Them?
An early payment discount – sometimes called prompt payment discount or a cash discount – is when a vendor offers a discount to a customer if the invoice is paid before the due date. The terms of early payment discounts …