This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Cheah says these differences across Asia impact AI adoption, particularly in finance and AccountsPayable (AP). A gradual, agile phased approach with pilot programs and clear communication on the objectives and goals of the mission and initiative is a critical success factor."
So it is with accountspayable (AP), as Chen Amit, CEO of Tipalti , told PYMNTS in a recent interview. Accountspayable is the ‘lost child’ hidden in business workflows,” said the executive. “I Of accountspayable in general, he said, “it’s a cumbersome process.
Increasingly, FinTechs and the businesses they serve are pulling double duty with solutions that tackle both accounts receivable and accountspayable friction for each end of the B2B transaction. Digitizing and modernizing B2B payments cannot be a one-sided effort. Wells Fargo, Bill.com Pull Double Duty With Partnership.
A new report from Software-as-a-Service (SaaS) firm Inspyrus suggested that chief executive officers and accountspayable (AP) professionals aren’t seeing eye to eye on AP technology, and organizations are failing to upgrade their AP processes and tools as a result.
Establishing clear credit policies and maintaining open communication channels with clients also contribute to faster payment cycles. Strategic AccountsPayable Solutions for Capital Enhancement Effective accountspayable solutions can significantly enhance working capital.
FutureCFO spoke to Marcus Rex, managing director for Asia-Pacific, xSuite, for his perspective on how finance automation in general, and accountspayable in particularly, can help transform finance into a profit centre. Myths around accountspayable (AP) automation. Recurring pain points in accountspayables.
The artificial intelligence-based accountspayable company Stampli has raised $25 million in a Series B funding round, the company announced Wednesday (Oct. Stampli redefines invoice management by turning the invoice into a communication tool allowing AP to seamlessly collaborate with all departments and external vendors.”.
Episode 247 Becoming a Treasurer Series, Part 26: Languages of Finance: AccountsPayable What problems arise when treasury and accountspayable misunderstand each other? Topics discussed include preparation, what needs to be measured, effective communication, development of a team, and acquirement of resources needed.
Xerox is strengthening its position in the accountspayable services space with a new suite of business solutions. But beyond introducing document digitization tools via scanners and other devices, the company appears to be digging deeper into the cloud-based digital enterprise sphere, particularly when it comes to accountspayable.
Managing accountspayable is critical for any business to maintain healthy cash flow and vendor relationships. Financial ratios are essential tools that help companies evaluate their financial performance, including their ability to manage accountspayable effectively. What is accountspayable in ratio analysis?
His strategic mindset also focuses on transparency and scalability, ensuring that financial strategies align with operational goals and are clearly communicated across the organization. The first is our accountspayable automation solution. “Fall in love with change. We offer two core products.
With B2B payments being an increasingly attractive target for innovators, the landscape is growing crowded as more banks and FinTechs roll out their accountspayable (AP) automation solutions. The competition is undoubtedly heating up. “To combine those two might be the best way to go,” he said.
In a guidebook , Esker says after years of continuous change, adapting a more human-centric accountspayable approach is now a prerequisite for keeping a business competitive. With the pandemic shifting the economic landscape of many countries, the appetite for more cost-effective and efficient measures intensifies.
The way we use technology has completely streamlined the way we live, communicate, and do business across the globe. This touches on both accounts receivables and accountspayables of their business cycle. Case in point: accounts receivables (AR) and accountspayables (AP) from the perspective of cash management.
Allowing someone who primarily works in accountspayable to gain experience in forecasting or treasury provides them with a broader understanding of finance operations. Regularly communicate the companys goals and strategies and show how the finance department contributes to achieving them.
That means emerging services are multitasking, easing friction for both accountspayable and accounts receivable. Below, PYMNTS explores the latest initiatives and finds that innovators are looking at the accounts receivable side to tackle accountspayable friction. Tipalti Reallocates The Workload.
These takeaways include increasing communication with clients, such as by expanding call center hours and providing more intensive support over the phone. One cleaning supply distributor said it is drawing on lessons learned during previous public health crises, including the 2009 H1N1 and 2016 Zika outbreaks.
For the accountspayable (AP) and enterprise resource planning (ERP) automation space, it’s no longer business as usual. Firms looking to strengthen their interactions with customers and vendors by adopting comprehensive, automated AP and ERP solutions are increasingly turning to cloud-based products in lieu of on-premises systems.
According to the company’s assistant finance manager Kausalyaa Somosundaram , the exercise was primarily aimed at allowing the company to track its bookkeeping – both accounts receivables (ARs) and accountspayables (APs) – from one place. Kausalyaa Somosundaram. What is very interesting about this app is the automation process.
By its very nature, accountspayable (AP) is a cost center: It’s where money leaves the enterprise, after all. At the highest levels, accountspayable has the opportunity to even add money to businesses, too. “It’s about having a strong business case internally.”
CFOs must also be excellent communicators. They foster trust and secure funding by communicating the company’s financial health, investment opportunities, and risks. Controllers handle the operational side of financial management, ensuring that the day-to-day accounting functions are carried out accurately and efficiently.
When a phisher spoofs a chief financial officer’s email address in a social engineering attack against an accountspayable (AP) department, however, it would seem that the email service itself could be the first line of defense. “But that brings a lot of problems, mostly in the areas of security and reliability.
If you’re like most nonprofit leaders, you’re not researching nonprofit accounting basics to satisfy your curiosity. So you can understand what’s happening in your business and communicate effectively with your board members, donors, and financial team. with this overview of nonprofit accounting basics. . AccountsPayable.
In 2023, organizations may focus on investing in technology that addresses specific pain points and offers a clear return on investment, such as spend management or accountspayable, rather than broader, more comprehensive investments like enterprise resource planning platforms, according to Born. “I
The following Deep Dive examines the payment and procurement obstacles facing construction firms during the ongoing pandemic and which digital accountspayable (AP) technologies could be applied to jump those hurdles. Solving these issues is essential for businesses looking to move toward financial recovery.
Yet when Tipalti Co-founder and CEO Chen Amit stepped into the ecosystem to tackle accountspayable (AP) friction, he was frankly surprised that there hadn’t already been a solution designed to address the multitude of pain points businesses faced back in 2010 – and continue to face today. “If
The majority of those pain points can be traced back to a lack of communication between buyer and supplier, with procurement executives citing a lack of accurate product information or inventory data. ”
The convergence of accountspayable and accounts receivable has led many in the AP automation industry to begin turning their attention to the supplier. A new report from Barclays suggests that this focus on the vendor wouldn’t only be beneficial to the accountspayable service providers vying for their solutions gain traction.
In addition, Sage Intacct received improved ratings in purchasing and accountspayable, usability, and geographic coverage. Article: The Power of Quick Decisions & Swift Communication During A Crisis. Sage Intacct Video Product Tour (43 minutes). Article: Effectively Managing Business Cash Flow Through Crisis.
In the bid to modernize B2B payments , accounts receivable (AR) and accountspayable (AP) need to work together. It’s important to go about breaking down silos within companies, too, where AP and AR once functioned as separate departments without clear lines of communication.
Commercial cards continue to explore more use cases to optimize spend for businesses, from accountspayable (AP) to employee travel and expense management. “It comes down to communication, and identifying those opportunities to work together and implement the technology that’ll benefit both sides,” said Kruis.
For departments like procurement and accountspayable (AP), without a clear value proposition in mind, adopting cloud automation technologies may not actually provide the benefits most organizations seek today.
Legacy accounts receivable (AR) and accountspayable (AP) operations aren’t only inefficient, they’re costly. Supply chain payments firm Tradeshift is embracing the buyer-supplier relationship with its new Tradeshift Engage solution, a platform that enables buyers and suppliers to collaborate and communicate.
When it comes to accountspayable, there is no shortage of FinTechs that have taken either one of these approaches in an effort to address the many pain points of the procure-to-pay cycle. From this angle, Stampli has designed an invoice processing solution to facilitate communication between key players in the transaction.
With more B2B payment technology providers turning their attention to the electronic invoice, the document has become a keystone that connects accountspayable (AP) and accounts receivable (AR) portals. For accounts receivable, when the link is right there to pay the invoice, nothing falls through the cracks,” he said.
Stampli , which works in accountspayable automation, has debuted a new feature called Stampli Direct Pay which a press release says will let companies pay invoices with ACH or from their own bank accounts. That, according to the release, has the effect of avoiding credit card processing fees laid at the feet of the vendors.
Electronic methods require more information, which means there needs to be a process around communication and verification, which could easily be a problem for firms if they don’t find the right partner to help with that.”. “And to be clear, it absolutely can be a burden, if a firm makes the wrong choices and heads down an unproductive path.
They can also help to bridge the knowledge and communication gaps between functional stakeholders and technology partners which is crucial to the quality of project execution and delivery from start to end. Which one technology (brand/product) has contributed most to your success?
Accountspayable (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. The enhanced integration aims to strengthen control and communication for both ends of the transaction.
There are silos between various platforms like accountspayable, accounts receivable, procurement and treasury management. And within this web, data remains stuck: Just because platforms have imbedded payments functionality doesn’t mean each node in the web can communicate with another.
Tech should be an enabler,” he said, in aiding that cultural shift — with constant communications between buyers, suppliers, and within firms, CFOs and treasurers — toward flexibility and speed. Improving that experience means that some of the interdepartmental silos need to be broken down in pursuit of shared goals and better communication.
Transparent communication between firms and freelancers once identity verification has been conducted can help build relationships that last beyond a single project, Michael Brooks , CEO and founder of online freelancer platform goLance , told PYMNTS. Companies turn to freelancers to complete existing projects and supplement their workforces.
Being based in the Philippines with no capacity to always visit the terminals it’s essential that constant communication is done through the monthly meetings with the CFOs and Treasurers of the local subsidiaries as well as utilising Microsoft Teams and Power BI to collaborate and create reports,” he revealed.
In a conversation with PYMNTS, Julien Nadaud, senior vice president of innovation at Corcentric , said that within companies, different departments rarely communicate with each other or share data, leading to inefficiencies that, down the line, stymie optimal cash flow management.
We organize all of the trending information in your field so you don't have to. Join 39,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content