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There are three new features — Intelligent Collections, Intelligent VendorManagement and Intelligent Planning — which are intended to remove time-wasting steps and friction and improve cash flow for corporate finance teams, the release stated.
13) said American Express is teaming up with QuickBooks to provide joint SME clients with financing for supplier payments. Amex will provide short-term financing for small businesses to pay suppliers and manage cash flow, the companies said. Reports on Thursday (Oct.
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 accountspayable are also opportunities for data integration with the ERP.
As more technology emerges to sit between a company’s accountspayable (AP) platform and its vendor’s accounts receivable (AR) portal, service providers are looking to ease friction in a multitude of ways, from accelerating payments and cash flows to easing contract negotiations.
” Outsourcing some accountspayable processes, he continued, can allow a nonprofit to manage transaction data and ensure compliance with their payments without having to allocate a burdening level of resources to the challenge. Just like any organization, accounting has to be efficient, accurate and compliant.
To provide non-touch invoice processing and support remote work, SoftCo rolled out its SoftCo ExpressAP accountspayable (AP) automation technology. SoftCo Co-founder Susan Spence said in the release, “SoftCo ExpressAP makes life a whole lot easier for Finance teams. In separate news, Ephesoft, Inc.
Broadening access to trade finance and small business (SMB) loans can help small suppliers that face lengthy payment terms from their large corporate customers to ensure operations (and cash) flow smoothly — even while they wait months to see an invoice settled. With the U.K. However, policymakers’ efforts have their limits.
The rise of the gig economy means companies can access a wide array of vendors, but an increasing volume of suppliers can lead to complications in the accountspayable department, the company explained, adding that the average large enterprise sees 90 percent of service vendorsaccounting for just 5 percent of overall spend.
B2B payments today cause many significant challenges for AP/AR [accountspayable/accounts receivable] departments. Launched by AeroFund last year , AeroPay Express offers virtual procurement cards that link payers to a line of credit and vendormanagement solutions.
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, accountspayable, accounting, inventory management, contract management, manufacturing and distribution, and more.
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