Why Accounts Payable Is The ‘Lost Child’ Of Finance

PYMNTS

So it is with accounts payable (AP), as Chen Amit, CEO of Tipalti , told PYMNTS in a recent interview. Accounts payable is the ‘lost child’ hidden in business workflows,” said the executive. “I I think, naturally, companies put more attention on customers, and receiving revenue from those customers, than they do on managing payments to suppliers. Of accounts payable in general, he said, “it’s a cumbersome process.

Challenges and opportunities in the automation of accounts payables

Future CFO

FutureCFO spoke to Marcus Rex, managing director for Asia-Pacific, xSuite, for his perspective on how finance automation in general, and accounts payable in particularly, can help transform finance into a profit centre. Myths around accounts payable (AP) automation.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

The benefits of accounts payable – a finance perspective

Future CFO

Organizations that adopt accounts payable (AP) automation can experience significant benefits including greater control over cash management, reduction in processing costs, fraud mitigation and improved compliance.

A Simpler Vision For Accounts Payable Tech

PYMNTS

It places a lot of pressure on corporate money managers to keep up with the latest innovations and maintain a competitive edge. In accounts payable, for instance, the industry may not be at a point where it can perform as a strategic function of the enterprise, because many businesses — small and large — are still lagging in the most basic upgrades, said AP firm Anybill ‘s chief strategy officer, Sander Mueller.

The new accounts payable department & the future of payables

Future CFO

So, what does the New Accounts Payable department look like? Optimizing cash flow. Having unproductive cash tied up in inefficient AP processes poses a huge threat when economic disruption hits. The new accounts payable department has a more intense focus on cash flow and payment terms and takes a more disciplined approach to its financial processes to work toward optimising the cash conversion cycle.

Why Cash Management Is Driving Corporate?s Digital Payments Transformation

PYMNTS

Now that businesses have gotten a taste of what it means to automate workflows like invoicing, accounts receivable (AR) and cash management, they’re likely never turning back. But for accountants and AR departments, this integration strategy can go even further.

The Cash Gap: How Big is Your Gap?

CFO Simplified

However, one particular “business” topic that occasionally comes up, especially during the holidays, is our family’s “cash gap.”. The cash gap is the number of days between when we spend money buying presents, and when I get paid next. What is the Cash Gap? Days’ Payables.

Six Steps to Managing Your Cash Flow

CFO Simplified

If you think about it, your personal life operates just like your business, but it’s on a cash basis, rather than an accrual basis. This is called your business’ cash flow. . Here’s a simple, six-step process to manage cash flow in your business. Cash Flow Management.

Why Incremental Card Adoption Is Enough For Better Cash Management

PYMNTS

Accounts payable company MineralTree just gave a big show of support for commercial cards when it announced this week it is partnering with American Express (Amex) to offer companies an integrated platform to support supplier payments via virtual commercial card. But cards are a rarity in B2B payments, and even rarer in accounts payable (AP) compared with other segments of the space like corporate travel.

Don’t Sign That Check – Yet!!

CFO Simplified

The checks were prepared by the trusted Accounting Clerk, who has been with the company for over 20 years and is the sister of the owner’s next-door neighbor. The owner, needing to move on to more pressing issues, quickly signs the checks and returns them to the Accounting Clerk for mailing.

CFO 52

Cash Management, Data Target Procure-To-Pay Process

PYMNTS

In an announcement on Wednesday (April 27), APEX Analytix revealed a four-step cash management strategy to combine data analytics and supplier management tools. Accounts payable departments can use the strategy set to identify dynamic discounting opportunities, optimize their payment terms, streamline reporting and data capture and access supply chain finance.

For Manufacturers, Cash Management Is In Their Hands

PYMNTS

Accounting and consulting firm Crowe Horwath LLP says businesses face a balancing act when it comes to cash flow management. Treasurers and money managers need to make the right decisions with corporate money for today, while ensuring the business will be in a good position tomorrow. But there are an array of factors — sometimes beyond a company’s control — that can make executives all too aware of the link between business processes and cash flow.

Sage Enhances Real-Time Cash Management With Trovata.io API

PYMNTS

Financial management platform Sage Intacct is integrating data from cash management tool Trovata.io to provide real-time visibility into cash positions for corporate users. said it will be positioned in the Sage Intacct Marketplace and integrate with the Sage Intacct solution via API, linking businesses’ accounts receivable and accounts payable data feeds for cash flow forecasting capabilities.

SME Cash Management Startups Grab $93M In Funding

PYMNTS

Small business accounting and cash management took home the gold this week, with two startups raising a collective $93 million in funding. SME Accounting. FreshBooks CEO Mike McDerment spoke with PYMNTS to announce the $43 million in new venture capital for his SME accounting company. According to McDerment, the funding reflects investors’ recent uptick in interest for accounting technologies for the self-employed. Expense Management.

Cutting Through The Accounting Jargon For Independent Contractors

PYMNTS

As one-person operations, they often lack the resources and know-how to manage professional finances in a compliant and efficient way, yet they have more complex tax, payments and cash flow management needs than the average individual.

Robotics Process Automation Rakes In The VC Cash

PYMNTS

RPA is igniting chatter in the corporate finance community as professionals explore next-level analytics and automation functionality to enhance processes like accounts payable, accounts receivable, cash flow management and more. iBanFirst enables businesses to transfer money from their bank accounts to an iBanFirst account, and allows those funds to be transferred into and held in 28 different currencies.

A hassle-free way of collecting payments

Future CFO

Register now for a free account! Business Applications Operations Treasury and Cash Management White Papers accounts payable CardUp cash management invoice and payment

CFO 52

How AP & AR are coming together to better manage cash

Future CFO

Any deep technology initiative is likely to have change rippling across the organisation, and C-level executives can enable the change management.”. Finance leaders pushing for the digital transformation of AP and AR processes can help to create synergy and efficiency throughout the entire cash conversion cycle to better manage cash, make smarter business decisions and build stronger bottom lines that will hold up even in times of economic uncertainty.

CFO 40

Citi: Accelerated Digital Migration Provides Insights Into B2B Behavior

PYMNTS

Rather, Sinha explained, corporate treasurers and CFOs today are grappling with evolving business models and transforming cash management strategies. But when digital channels account for half of an organization’s overall sales, the data is too valuable for treasurers to ignore.

B2B 80

ACH Offers Middle Ground For Buyers, Suppliers

PYMNTS

When Sourcery launched, CEO Na’ama Moran said there was a bit of a chicken-and-egg issue: She wanted the company to become a holistic B2B payments player, but should it begin with accounts receivable or accounts payable? The firm chose the latter, offering its clients — companies in the hospitality and food services sectors — the ability to pay their suppliers by supporting invoice management and payment processing.

Tipalti: Helping CFOs Go With The (Cash) Flow

PYMNTS

Managing any company’s books can be quite complicated. That can make managing cash flow from concept to payments a headache. Israch said that tasks as far ranging as supplier management, invoice processing and regulatory compliance can be managed through Tiaplti’s AP Hub. Tipalti’s vision is to free the finance and payments team from the minutiae and complexity and risk involved in today’s accounts payable and supplier payments workflow,” Israch said.

The Economic – And Ergonomic – Value Of Commercial Card Optimization

PYMNTS

Often at the center of this initiative is the accounts payable (AP) department — and unsurprisingly for these volatile times, the strategy can turn toward lengthening the days payable outstanding (DPO).

PodChats for FutureCFO: Future-proofing cash conversion cycles

Future CFO

The adage “cash is king” resurfaces every time the world is on the brink of collapse when capital is tight and economies unpredictable as in the case of the last year and a half with the onset of the COVID-19 pandemic. Cash Conversion Cycles. What is “cash conversion cycle” (CCC)?

CFO 80

Deep Dive: How Automation Can Disrupt Legacy AP Practices

PYMNTS

A simple mistake, such as incorrect information entered into an accounting system, can result in delayed payments, or even payments made to the wrong organizations. . Companies can alleviate these troubles and better manage their AP operations with solutions that automate every step from invoice receipt to payment. Information like this can also help businesses understand their cash flows and cash management issues, with 64 percent of AP leaders citing as much.

What No One Saw Coming In AP Automation And What Comes Next

PYMNTS

At a high level, said Disque, the embrace of automated accounts payable (AP) processes has been consistent across verticals. More efficient working capital management is especially desirable as the pandemic stretches on longer than most observers would have imagined.

Canada’s Path Toward B2B Payables Modernization

PYMNTS

Lisa Lansdowne-Higgins, vice president of business deposits and treasury solutions at the Royal Bank of Canada (RBC), recently told PYMNTS that these three disruptors have a significant opportunity to shake up accounts payable processes thanks to the impact they have on data. Such visibility enables real-time analysis of risk exposures for more agile FX hedging and risk management.

B2B 55

Genpact On The Analytics Innovations That Can Help Companies Grapple With Pandemic-Driven Changes

PYMNTS

Accounts payable (AP), accounts receivable (AR) and other capital management workflows are also not immune to pandemic-related struggles. How the Pandemic Changed Capital Management. We need a cash forecasting tool.’”.

How AP Digitization Tackles Hospitals’ Biggest AR Woes

PYMNTS

Cash flow is a fickle beast for any organization, but in the healthcare sector, bottlenecks and friction points are aplenty thanks to issues like late patient payments, insurance payouts and negotiations, and refunds. Accounts receivable departments are often hospitals’ first lines of defense for maximizing days cash on hand, but when cash flow trickles to a drip, the ramifications are felt all the way through to accounts payable.

How FIs Are Answering The Call Of AP Modernization Movement

PYMNTS

Enabling employees to work remotely during the COVID-19 pandemic has sent a wake-up call to companies that their old-school accounts payable (AP) practices will not cut it in the new economy.

Do You Have Enough Working Capital to Run Your Business?

CFO Simplified

However, one particular “business” topic that occasionally comes up, especially during family gatherings, is our family’s “cash gap.” . The cash gap is the number of days between when we spend money buying presents, and when I get paid next. What is the Cash Gap? Days’ Payables.

APIs Pull Double-Duty With AP, AR Automation

PYMNTS

Solution providers in accounts payable (AP) and accounts receivable (AR) are increasingly servicing not only their corporate customers, but their customers’ own business partners with their technologies. This can mean major efficiency gains for businesses managing both AP and AR.

Finding Salve For Business Payments Pain — From Expense To AP

PYMNTS

After all, money exits a company through more than one avenue, whether it be via the accounts payable department or a firm’s own employees. B2B Payments accounts payable B2B bank fintech collaboration cash flow management Corporate Payments EedenBull expense management News

Tipalti Pinpoints The Tipping Point Of AP Automation ROI

PYMNTS

Accounts payable (AP) automation technology presents an obvious benefit to companies of all sizes and industries to boost efficiency and strategize vendor payments.

Tipalti Broadens Reach With B2B Partnerships

PYMNTS

Accounts payable (AP) automation company Tipalti is expanding its reach into the market by partnering with three new B2B companies, which will extend Tipalti’s solutions to their own customers. In a press release on Tuesday (March 26), Tipalti said it is working with ERP company Big Bang ERP , spend management firm Procurify and cash flow management company Tesorio.

How APIs Are Helping FIs Meet SMBs’ Payment Needs

PYMNTS

This complicated process can involve everything from accounting and invoicing software to bank accounts. Managing these steps in separate systems can be friction-filled, Haider said. APIs that improve cash management are in strong demand among Wells Fargo’s business clients.