PYMNTS

SEPTEMBER 17, 2019

A series of payment innovations are promising to put an end to some common B2B payment frictions, including online portals, same-day ACH and automated accounts receivables (AR). Keeping Construction Payments Fraud-Free. trillion construction market can have long-ranging effects. Deep Dive: Tapping AI To Tackle A $4.2T

Construction 52

Construction B2B Accounts Payable Invoicing 52

PYMNTS

NOVEMBER 15, 2017

The latest research in B2B payment practices within the construction sector isn’t good: Two-thirds of small- and medium-sized businesses (SMBs) surveyed by the U.K. Just days after the FMB published its findings, invoice payment firm Nvoicepay announced a partnership with Viewpoint , a software firm targeting the construction space.

Construction 43

Construction Accounts Payable Invoicing B2B 43

PYMNTS

NOVEMBER 16, 2018

Financial solutions provider Comdata is teaming up with Computer Guidance Corporation to integrate virtual card payment functionality for the construction industry. Computer Guidance Corporation offers cloud ERP solutions for the construction sector. On Thursday (Nov.

Construction 49

Construction Accounts Payable B2B Reconciliations 49

CFO Talks

JANUARY 8, 2025

Constructive feedback is equally important. Allowing someone who primarily works in accounts payable to gain experience in forecasting or treasury provides them with a broader understanding of finance operations. Ask questions like, What skills would you like to develop? or Where do you see yourself in the next few years?

Finance 52

Finance Budgeting Problem Solving Accounts Payable 52

PYMNTS

OCTOBER 5, 2020

“The shift I have seen there,” she told PYMNTS of healthcare firms, “that was most effective is providers [the vendors] had their way of going through the process either from an [accounts payable] or [accounts receivable] perspective.”. Comdata, she said, has mimicked the flow from claims to invoice to payment to reconciliation.

B2B 130

B2B Healthcare Reconciliations Accounts Payable 130

PYMNTS

JANUARY 10, 2018

There are a lot of factors that make B2B payments in the construction industry a challenge. “Something unique about payment in construction is that it’s different than just getting money from point A to point B,” he continued. Construction used to be an industry in which agreements were made on handshakes.

Construction 49

Construction B2B Accounts Payable Communication 49

PYMNTS

NOVEMBER 5, 2020

Construction companies need to ensure they can swiftly purchase materials and other supplies to complete their projects and maintain steady cashflows. Many corporate buyers are finding that using paper checks increases their accounts payable (AP) expenses unnecessarily as well, and vendors often want to get paid faster than checks allow.

Invoicing 64

Invoicing B2B Construction Accounts Payable 64

PYMNTS

DECEMBER 22, 2020

Bringing automation into one’s accounts payable (AP) and accounts receivable (AR) processes can help firms bring payments up to speed and reduce the overall time it takes to process and finalize transactions.

B2B 94

B2B Accounts Payable Construction Accounting 94

PYMNTS

NOVEMBER 2, 2020

Palette Software has connected its accounts payable (AP) automation cloud technology with Aptean ERP , according to a Monday (Nov. In separate news, Palette Software introduced AP automation technology that is meant for companies in the engineering and construction spaces, per news in August. 2) announcement.

Accounts Payable 56

Accounts Payable B2B Invoicing Construction 56

PYMNTS

JULY 30, 2020

In an effort to help companies reduce their accounts payable (AP) expenses, Zycus has rolled out artificial intelligence (AI)-powered bots for the last part of the procurement process, according to an announcement. Those who work in finance or accounting roles can use the RegalPay technology directly from their workstations.

Accounts Payable 60

Accounts Payable SAP Invoicing Construction 60

PYMNTS

SEPTEMBER 23, 2019

only agriculture and hunting invest less in digitization than the construction industry, according to recent data. Even so, the global construction management software market is projected to expand at a compound annual growth rate (CAGR) of 9.2 In the U.S., percent from 2018 to 2022. Freeing Up Cash Flow.

Construction 67

Construction Accounts Payable B2B Treasury 67

Global Finance

OCTOBER 31, 2024

SMEs account for 16% of the bank’s business, or approximately $1.5 These were given to SMEs working in multiple sectors: tourism, construction, commerce, education, healthcare, social services, industry, agriculture, and livestock, among others. SME business now accounts for 12% of BTG Pactual’s total portfolio.

Banking 52

Banking Finance Construction Foreign Exchange 52

PYMNTS

FEBRUARY 24, 2020

“While the tax-themed email attacks hit businesses in all sectors, we also saw financial firms and construction industries targeted disproportionately,” wrote Sherrod DeGrippo, who published the research on ProofPoint’s website last week. The construction industry targeting, in particular, is a reminder that no one sector is immune.”.

Construction 65

Construction B2B Accounts Payable Invoicing 65

PYMNTS

JUNE 9, 2017

That’s especially true in corporate accounting, says Beanworks CEO Catherine Dahl. It’s an interesting time in accounting, and there’s a huge change coming,” she recently told PYMNTS, adding that digitization will become the norm, empowering humans to take on more strategic tasks while technology handles the repetitive stuff.

Accounting 43

Accounting Technology Accounts Payable Invoicing 43

PYMNTS

DECEMBER 11, 2019

Yet, as innovators have chip away at friction points, they have recognized the value of incorporating a supplier’s accounts receivable (AR) experience into their solutions. That’s because AR and accounts payable (AP) processes are intrinsically connected. A New Approach To Global Payments. ”

B2B 53

B2B Accounts Payable Invoicing Currencies 53

PYMNTS

SEPTEMBER 25, 2020

We have deep dives on the financial health of Main Street small and medium-sized businesses (SMBs), digital accounts payable (AP), and GoodRx ’s initial public offering (IPO). . HSBC To Staff: Stay Off Bank’s Social Media Accounts . Massachusetts-based accounts payable (AP) automation technology firm MineralTree Inc.

Accounts Payable 61

Accounts Payable Treasury Construction Accounting 61

PYMNTS

NOVEMBER 18, 2019

Unlike the BEC, the VEC scam involves a cybercriminal infiltrating a vendor’s email account to send a request for payment (whereas the BEC scam often involves fake, although similar, email addresses and messages). Hassold provided a public comment on the vendor email compromise scam. according to recent reports from The Guardian. .

Accounts Payable 51

Accounts Payable Construction B2B Accounting 51

PYMNTS

OCTOBER 16, 2020

Drill down a bit, and average DSO have been notably on the rise in verticals such as construction (up 10 days to an average 53 days) and healthcare (up seven days to 49 days). Remittance detail is essential in B2B, and that information has to be delivered as a unit into accounts receivable, or it creates exceptions on a regular basis.

B2B 64

B2B Accounts Payable Invoicing Accounting 64

CFO Share

SEPTEMBER 27, 2022

Unfortunately, accounting processes are more complex than fixing your truck, and while many businesses benefit from hiring in-house accounting and bookkeeping, others do not. Knowing which category your business fits in is critical to deciding whether or not to hire in-house for accounting and bookkeeping. .

Accounting 40

Accounting Accounts Payable Invoicing Reconciliations 40

PYMNTS

OCTOBER 17, 2016

And any number of firms are looking to aid finance professionals in reducing paper inflows and outflows — a bottleneck where accounts payable is concerned. For Nexus, the main focus is on managing everything from tracking onsite purchases to compliance, and key verticals include real estate and construction, said Coolidge.

Accounts Payable 53

Accounts Payable Invoicing Compliance Construction 53

PYMNTS

JULY 17, 2019

National Football League franchise the Oakland Raiders has been named in a lawsuit amid allegations of non-payment for construction on the team’s new stadium in Las Vegas. According to the publication, the legal dispute has not compromised construction on the stadium, with the project expected to be complete next month.

Construction 41

Construction Accounts Payable Invoicing Accounting 41

PYMNTS

SEPTEMBER 18, 2019

construction market is on a roll, and recent data suggests it is unlikely to slow. Construction firms looking to succeed in this growing market and turn a profit must complete their projects on time, which means access to steady cash flows is crucial. The market is on track to record a compound annual growth rate (CAGR) of 4.9

Construction 46

Construction Invoicing Accounts Payable Accounting 46

PYMNTS

MAY 29, 2020

Late payments to contractors in the construction industry is a particularly prominent focus for advocates of timely contractor payments. Accelerating payments to contractors is an undertaking that requires a modernization push, according to Management Controls Senior Vice President of Insights & Analytics Mark Rivers.

Accounts Payable 57

Accounts Payable Compliance Construction B2B 57

PYMNTS

NOVEMBER 9, 2020

Reports in The Construction Index revealed that Travis Perkins notified its suppliers it would be extending payment terms, citing work-from-home requirements of its accounts payable staff related to COVID-19. As a result, more than half of the suppliers surveyed said they have trouble paying their own vendors on time.

B2B 70

B2B Accounts Payable Invoicing Restructuring 70

PYMNTS

OCTOBER 1, 2020

At a high level, said Disque, the embrace of automated accounts payable (AP) processes has been consistent across verticals. CSI, he noted, has insight into a number of industries, where the payment processing platform (focused on integrated payables) aggregates and accepts payments on behalf of a wide range of businesses.

Accounts Payable 77

Accounts Payable Cash Management Construction Invoicing 77

PYMNTS

OCTOBER 17, 2017

17), Visa said it is tackling that issue through a new partnership with accounts receivable (AR) and cash management company Billtrust. When it comes to growth of virtual corporate card payments, we have seen and built a lot of momentum on the accounts payable side,” Hall said. “We In an announcement on Tuesday (Oct.

Reconciliations 47

Reconciliations Accounts Payable B2B Cash Management 47

PYMNTS

JANUARY 14, 2020

The report is based on a survey of more than 500 financial executives at firms from numerous sectors, including professional services, construction, retail and technology. In the Making Real-Time Payments A Reality: Rising Demand For Real-Time Payments report, a Mastercard collaboration, PYMNTS analyzes U.S. According to the research , 66.7

Accounts Payable 53

Accounts Payable Reconciliations Construction Treasury 53

PYMNTS

MAY 16, 2018

The multi-year partnership will serve Premier Community’s HOA management customers by creating access to AvidXchange’s accounts payable (AP) automation and payment tool, which Praeger said can alleviate some of the worst delays and challenges in the vertical.

Accounts Payable 40

Accounts Payable Invoicing Construction Accounting 40

PYMNTS

FEBRUARY 7, 2019

The healthcare and construction industries are among the strong points of FLEETCOR’s corporate payment operations, particularly with 2018 being the first full year with Cambridge Global Payments under the FLEETCOR belt after closing the acquisition in 2017 — a business that showed a “rocking” performance in 2018, said Clarke.

Mergers and Acquisitions (M&A) 46

Mergers and Acquisitions (M&A) Foreign Exchange Accounts Payable Construction 46

PYMNTS

MARCH 2, 2020

Corporate payments innovation has cast a wide net to tackle the many pain points businesses experience today, with accounts payable (AP) one of the most popular targets for disruptors. There are a lot of scenarios in which transferring to a bank account isn’t fast enough anymore, and most legacy accounting systems are really slow.”.

B2C 60

B2C Accounts Payable Construction Accounting 60

PYMNTS

DECEMBER 16, 2016

Here the elusive payments opportunity meets or, in fact, doesn’t meet, the elusive audience: accounts payable automation for middle-market firms. A million-dollar construction firm, he said, is not the same as a million-dollar doctor’s office. Maybe not a hard concept, but not so easy.

Marketing 61

Marketing Accounts Payable Accounting Banking 61

Future CFO

AUGUST 19, 2021

Three quarters of C-suite executives believe that intelligent automation helped to augment their finance employees’ capabilities, according to results of a survey jointly done by the Institute of Singapore Chartered Accountants (ISCA) , AI Singapore and the National University of Singapore (NUS) Business School recently.

Accounts Payable 40

Accounts Payable Treasury Risk Management Reconciliations 40

PYMNTS

JULY 17, 2019

The Forum plans to introduce similar guidance papers on accounts payables financing, forfaiting and other processes within supply chain finance moving forward. construction giant Carillion brought this issue to light. trillion gap in available trade finance, as estimated by the Asian Development Bank. The 2018 collapse of U.K.

Finance 46

Finance Invoicing Accounts Payable Construction 46

PYMNTS

OCTOBER 29, 2019

And on the FinTech side of things, firms like Yardi , Nexus and Visa have also debuted solutions to address friction in B2B payments, accounts payable and accounts receivable in the real estate space, which is notorious for delayed and late supplier payments and complex supply chains. ” The Data Opportunity.

B2C 41

B2C B2B Construction Accounts Payable 41

PYMNTS

DECEMBER 30, 2019

That’s particularly true as card products gain traction in areas beyond employee travel and entertainment, and into spend categories like fleet and accounts payable. Rewards certainly must be a part of the commercial card package when targeting middle-market firms, she noted, but the add-on benefits will be what really drives adoption.

Marketing 53

Marketing Banking Accounts Payable Education 53

PYMNTS

FEBRUARY 3, 2017

AP automation firm AvidXchange is tackling some of the construction industry’s biggest supplier payments challenges, but it isn’t doing it alone. 2) that it is teaming up with GCPay, an online platform for construction companies to automate their subcontract management needs. The company said Thursday (Feb.

Construction 40

Construction B2B Invoicing Technology 40

The Finance Weekly

OCTOBER 31, 2021

Why is Financial Planning for NPOs crucial The accounting and financial management strategy is typically influenced by the extent to which users engage with the NPO's services, and targets are set by trustees. Master the basics of accounting. Standard accounting and financial management might be complex for nonprofits.

Planning 52

Planning Auditing Nonprofit Accounts Payable 52