Top 5 Ways To Cut Cost While Enhancing Operational Efficiency

Top 5 Ways To Cut Cost While Enhancing Operational Efficiency

Digital Strategies For Enhancing Operational Efficiency Many companies would say that the best ways to cut costs in business is to focus on improving operational efficiency and reducing spending in the following areas: Office space Staff costs Out of pocket expenses Supply costs Advertising costs While it is true that these areas contribute to a… Read more »

The Business Case for Accounts Payable Automation

While many corporations have adopted some form of automation to remain competitive in their respective industries, some are still reluctant to consider accounts payable automation a strategic priority. Failure to examine the potential benefits of accounts payable automation is a costly mistake, which should be avoided. Here, is a quick look at the significant rewards… Read more »

New AFP Report Reveals Top Benefits of Electronic Payments

improved cash forecasting

The recent release of the 2016 AFP Electronic Payments Survey Report from the Association of Financial Professionals reveals several enlightening trends concerning electronic payments use and acceptance in corporate payments transactions. The report covers survey results on faster payments initiatives, continued use of checks for disbursements and collections, top B2B payment methods, cross-border payments, mobile… Read more »

Ideas for Accounts Payable Recognition Week

electronic payments

Invoices. Payments. Checks. Credit Cards. And paper (lots of paper). These things are par for the course in Accounts Payable. Not much to get excited about for the most part. Or is there? The reality is, Accounts Payable is a critically important factor in any company’s working capital. AP levels affect several crucial financial performance… Read more »

Virtual Card Payments 101

what are virtual cards

“Virtual” is quite a buzzword today. We have access to virtual realities, virtual games, virtual assistants, virtual shoppers, virtual tours — virtually anything you can think of. And what do all of these virtual offerings have in common? Generally speaking, they are all computer-generated simulations or digital representations of actual, tangible things. In the corporate… Read more »

Celebrating Your Accounts Payable Team

accounts payable recognition

Accounts Payable team members typically don’t see a lot of fanfare or receive much recognition. It’s hard for most people to get excited about AP. I know, I know … invoices and POs and payment files should make us all stand up and cheer, right? Right? The fact is, though, AP is a critically important… Read more »

Setting Goals and Measuring Performance in Accounts Payable

Setting Goals and Measuring Performance in Accounts Payable

Performance appraisals. They’re a necessary component of measuring your team’s work in Accounts Payable, both individually and collectively. And while performance appraisal time is often stressful for both managers and their employees, focusing on a few key areas for performance review can help smooth the overall process. When developing goals and measuring performance for your… Read more »

Buyer-Initiated Payments: To BIP or Not to BIP

e-payments

Sometimes referred to as “push payments,” buyer-initiated payments (BIP) did not exist until the specific requirements of a buyer’s payables obligation eventually crossed paths with the advent of virtual Point-of-Sale devices. BIP, which is a type of commercial card transaction, differs from conventional card processing in one huge, meaningful way: