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This week's roundup of the convergence of accountspayable (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. Technology that sits in between these business partners can help to accomplish both.
Enterprise cloud migrations have opened up the ability for smaller businesses to adopt ERP technology once reserved for the largest corporates. Efforts to modernize procurement and accountspayable are also opportunities for data integration with the ERP. Disruption Ahead.
To reshape how schools handle global business payments, payment processing provider PayMyTuition has rolled out an international vendormanagement module. Our innovative vendormanagement module will enable institutions access to a suite of international payment solutions that are directly integrated into their ERP and AP systems.”.
.” As one can imagine, paper checks don’t support this type of transaction data management as well as other payment technologies could. “There is still a significant number of [nonprofit] organizations paying vendors by check,” Murphy noted.
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.
To provide non-touch invoice processing and support remote work, SoftCo rolled out its SoftCo ExpressAP accountspayable (AP) automation technology. launched its Semantik Invoice cloud-based data acquisition offering to automate accountspayable (AP) processes per news in May. In separate news, Ephesoft, Inc.
AeroFund has formed AeroPay Express , a unit that provides virtual procurement cards that act as a line of credit to business payers, as well as vendormanagement services. Vendors pay a fee to accept the virtual card payment. We’ll get that done by providing immediate cash and pass along the savings.”.
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.
“Traditional procurement technology doesn’t cut the ice; managing the vendor after signature is the order of the day.” ” The executive added that, while many companies understand the need to managevendors and audit contracts and deals, they can be overwhelmed by the data involved in the task.
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