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This week's roundup of the convergence of accounts payable (AP) and accounts receivable (AR) takes a look at how B2B payments solution providers are considering both buyers and suppliers as a result of the pandemic. PayMyTuition Meshes Education VendorManagement With AP. Paymerang Eyes The Supplier's Role In AP.
. “By embedding our Working Capital Terms’ digital loans directly into QuickBooks, we make financing available to our customers when and where they need it most to pay vendors, simplifying the payments process and reducing time spent reconciling accounts.”
The enterprise resource planning ( ERP ) system has been a staple of corporate finance operations for years, acting as a central repository of data and a hub to initiate a range of processes, from accounting to procurement. Efforts to modernize procurement and accounts payable are also opportunities for data integration with the ERP.
Researchers forecast mobile payments to account for $1 trillion in transactions next year. “Things like digital invoicing, virtual cards and cloud-based finance and accounting will help the bottom line of smaller businesses by enabling them to process and receive payments quickly,” he stated.
Generative Artificial Intelligence has found its way into India ’s goods and services tax (GST) management landscape, serving as a powerful ally for accountants and businesses amid the complexities of the system. The post How generative AI transforms the Indian GST management scene appeared first on FutureCFO.
Another major hurdle unique to the purchase-to-pay space is the process’s deep touch points with an array of other back-office functions within the enterprise, including vendormanagement, product sourcing, accounts payable, accounting, inventory management, contract management, manufacturing and distribution, and more.
The nonprofit industry has a lot to gain from this payment technology, claims a new whitepaper from vendormanagement consulting firm Vendor Centric. According to Vendor Centric, there are four key benefits for nonprofits when it comes to the v-card.
Yantra Financial Technologies said earlier this week that it has enabled lenders to deliver funds in real time, using a business bank account known as BlastPay. Similarly, in B2B transactions, supply chain and vendormanagement becomes easier, and orders and payments can be done in an efficient manner.
There are sophisticated payment rails capable of moving money instantly, he noted, and when a buyer wants to pay a supplier that payment will route directly from one bank account to another. This is, unfortunately, is just a point-to-point system, there is no reconciliation on this basic platform.
“By embedding our Working Capital Terms’ digital loans directly into QuickBooks, we make financing available to our customers when and where they need it most to pay vendors, simplifying the payments process and reducing time spent reconciling accounts.”.
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