Webinar: 2022 Modernizing Accounts Payable Processing Survey Results | May 17

Strategic Treasurer

2022 Modernizing Accounts Payable Processing Survey Results. Description : This webinar discusses the accounts payable (AP) results from the 2022 Modernizing AP & AR Processing Survey. Field of Study : Accounting.

Regional Banks Guide Corporates To Future-Proof Accounts Payable


Accounts payable (AP) teams and other financial functions of the enterprise were some of the hardest hit by the disruption caused by the global pandemic. “Companies are increasingly looking to more efficiently manage the accounts payable process,” he said.


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Protecting Accounts Payable From Smarter, Faster Fraudsters


In an interview with Doug Cranston, vice president of product management at Bottomline, the executive noted that in the age of speed, fraudsters are able to more easily exploit firms’ vulnerabilities, compromise their accounts payable process and get away with ill-gotten gains, often to vanish without a trace. They understand the payments space, they understand the settlement systems, they understand accounts payable,” he said.

Looking Beyond ePayments In Accounts Payable


With adoption rates now rising, accounts payable (AP) departments have improved their positions within the enterprise as strategic functions, with the potential to offer greater insight into company operations. Businesses, though, are all at different levels in their accounts payable departments, not only in their journeys of digitization, but in their journeys to elevate their AP processes to deliver greater value to the enterprise at large.

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.

A ‘Payment-Agnostic’ Approach To Accounts Payable


The competition is heating up between payment technologies in accounts payable, with ACH and virtual cards seeing significant pushes in the B2B payments space to combat the dreaded paper check. Such illustrates the importance of accounts payable being “payment agnostic,” according to Richard Jackman, president and CEO of B2B payments technology firm ePayRails.

The new accounts payable department & the future of payables

Future CFO

So, what does the New Accounts Payable department look like? 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. Given the importance of cash flow in uncertain times, companies should develop treasury plans for cash management as part of their overall business risk and continuity plans.

Speed Finds Opportunity In B2B Payments Beyond Accounts Payable


SMBs using the WePay platform can now see funds deposited into their Chase bank accounts the same day without extra fees, a feature resulting from JPMorgan ’s acquisition of WePay in late-2017. Although new technology is appealing, treasury and finance professionals tend to stick with what works for them, and their vendors,” said AFP President and CEO Jim Kaitz. Corporate treasurers show increasing interest in real time and faster payment solutions, the latest research suggests.

Fifth Third’s Two Cents On Treasury APIs


The provider’s new Money Transfer API supports fund transfers directly into overseas bank accounts, while another API supports money settlement in local currencies to spare recipients from the frictions of handling conversions.

How Digital Assets Could Reshape The Future Of Corporate Treasury


Yet for finance leaders of the enterprise, adoption of digital assets poses plenty of risks and challenges, not least of all the inability for their current treasury infrastructures to manage crypto in an integrated and compliant way.

Citi: Accelerated Digital Migration Provides Insights Into B2B Behavior


But when digital channels account for half of an organization’s overall sales, the data is too valuable for treasurers to ignore. Accounts Receivable accounts payable accounts receivable cash flow management Citigroup data analytics digital shift Featured News News treasury

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Community Banks Accelerate FinTech Integrations


With a focus on its broader treasury management offerings, People’s United is adding MineralTree’s invoice-to-pay solution and FIS’s integrated payables technology to streamline business clients’ accounts payable processes. Build, buy or partner?

Today In B2B: UK Debt Collectors Eye SMB Aid Recovery; ActiveWorx Launches B2B Payments Optimization Tool


Fides Treasury Services , which works in multibank connectivity and communications, has rolled out new details about its plans to extend its shop for corporate treasury and finance solutions, according to a press release.

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Open Banking Adds Intelligence To Treasury Management


As the corporate treasurer takes on a more strategic role in the enterprise, treasury and cash management technologies can often be stuck in the past, failing to keep up with financial execs’ needs. The problem can be traced back to data: as organizations scale, either through organic growth or M&A, they’re taking on more financial management platforms and opening more bank accounts, leading to fragmented storage of financial data.

WEX’s Dearborn Says B2B Payments Has Reached Tipping Point


I think when the pandemic hit in early March, it really put a gun to the head of many companies by taking what have been Byzantine processes around accounts payable or accounts receivable and moving to much more digital means,” Jay Dearborn , president, corporate payments of WEX Inc.

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Treasury Tools, 20 Years On


Between treasury management, accounting, invoicing, cash management and all the other money tools corporates have access to today, it’s a wonder CFOs can keep their heads on straight. Making matters even more complex is the need for this accounts payable automation system to work with that ERP system or for that cash management software to integrate into this data analytics tools. They’ve always got some treasury solution designed for their needs.”.

U.S. Bank Debuts AP Optimizer In Bottomline Collab


AP Optimizer is a big win for our customers and is part of our strategy to provide an integrated offering to manage accounts payables,” said Jeff Jones , head of Corporate Payment and Treasury Solutions for U.S.

AP Automation Sails Through Onboarding


More companies are focusing now on the onboarding process as a first line of defense against sleeper fraud, by making sure that fewer fake accounts get created to begin with. Accounts Payable accounts payable AP automation bottomline technologies News Next-Gen AP Automation Tracker

Corporates See Loan Fraud By Insiders As Growing Threat


21 percent of business leaders say payment authorization and authentication are requirements when choosing a treasury management platform , a report by Citizens Commercial Banking found. million was stolen from one company via accounts payable (AP) fraud , the Chicago Tribune reported.

AP Automation Set To Shred Paper Checks


The PYMNTS December 2019 Next-Gen AP Automation Tracker details explosive innovation in real-time payments for business, driven in no small part by accounts payable (AP) professionals. Accountants hate inefficiency.

Deep Dive: AP Processing Delays And How New Payment Innovations Can Help


Bottomline’s 2019 B2B Survey Payments Report finds that manual processing is the second-most pressing obstacle for treasury departments and the biggest challenge faced by small businesses.

How An Integrated AP Management Approach Can Boost The Bottom Line


Many accounts payable ( AP ) departments are still burdened with manual, paper-based payment processes, or have implemented payment automation solutions only to find that the benefits weren’t as significant as they’d hoped. Thus, accounts payable management is all too often more art than science. Enter integrated payables — which, done well, offer one way to mitigate the struggles of unnecessary costs, inefficiencies and fraud risks in business payments.

Dell Takes An API-Enabled Approach To Fixing Invoicing Pains


This could mean adopting new accounts payable (AP), accounts receivable (AR) and other treasury strategies and technologies, for example.

Faster Payments Make Inroads In Corporate Treasury


In its “ The road to real-time treasury ,” Deutsche Bank urges treasurers to get ready for a world of real-time transacting. Deutsche Bank noted that this can have multiple positive impacts on corporate treasury, including faster cross-currency payments, faster FX exposure management, and faster actions taken to address FX volatility. However, treasuries will inevitably, incrementally be forced to operate in real time.”.

Back Office Is Front And Center In Optimization Wave


Back office modernization is in the spotlight like never before, and solutions that streamline accounts payable (AP) and accounts receivable (AR) functions are in high demand. Platforms Streamlining Mass Payables. How big of a problem is manual data entry and processing?

To Modernize B2B Payments, Break Down The Silos Between AP And AR


In the bid to modernize B2B payments , accounts receivable (AR) and accounts payable (AP) need to work together. WEX’s Dearborn said that corporates’ “first line of questioning should always go to their treasury bank, because they have an established relationship.

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Deep Dive: How Businesses Solve Capital Management Conundrums


Businesses of all sizes struggle with capital management, regardless of whether they employ staff or seek out third parties to handle their cash flows, accounts payable (AP) and accounts receivable (AR) processes and other related tasks.

Treasury Finds Itself At Home In FinTech


The rise in B2B FinTech has complicated the picture of treasury management, forcing it to rethink its position in the enterprise. But that technology has also handed treasury new tools to become even more effective at giving clarity to an enterprise’s position in its market. OpenLink Chief Technology Officer Rich Grossi told PYMNTS recently that modern treasury management demands added functionality like risk and trade management — especially for international conglomerates.

Cash-Flow Forecasting remains KING

Simply Treasury

Treasury management is “anticipation”. This explains why the treasury manager, “the custodian of cash”, has become a centre of attention and why Cash Flow Forecasts (CFF) have become so essential. not all cash can be reported to central treasury.

AP Automation Braces For Open Banking, Globalization


One of the latest FinTech firms to do so is accounts payable (AP) automation company Centsoft , which recently announced a data integration with QuickBooks Online.

CFOs Leaving Legacy Process In Their Digital Dust


We discover a basic truth upon reading PYMNTS November 2020 CFO’s Guide To Digitizing B2B Payments done in collaboration with Comdata : many treasury operations need digital triage. Corporate Treasury Needs More Love.

Goldman Sachs Adds Global Payments To SAP Ariba


Risk will be less of an issue because of the increase in transparency and tighter control on foreign exchange payments, along with the currency exposures for those with stake in procurement and treasury.

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AI Rides To Rescue Of Analog Accounting Processes


The paper check, the paper invoice, slow accounts receivable (AR) processes and collecting on aging receivables can be difficult for even the most seasoned AR professionals. The problems are analog.

RTP Picks Up Pace With Corporates, While CBDCs Raise Banker Doubts


Modern Treasury Raises Funding To Accelerate B2B Payments. With $38 million in fresh funding , accounts payable (AP) solution provider Modern Treasury is looking to further accelerate B2B payments. RTP already accounts for more than 6 percent of Modern Treasury volume.”.

Auditoria Debuts New Automation Features For Corporate Finance


Intelligent Collections will provide real-time visibility and predictive tools to show accounts receivable departments which accounts might be late on payments or delinquent, according to the release.