Old-school manual B2B payments, particularly checks, are sitting ducks for fraudsters. Many organizations, particularly those in industries with long-established practices or fragmented environments, like construction, healthcare and beyond, continue to manage payments using outdated methods such as paper checks, manual invoicing and batch payments. And...
Manual accounts payable (AP) operations can cost firms more than they might think. And the complexity of enterprise AP programs presents a challenge for businesses, particularly as many companies face growing transaction volumes without a corresponding ability to expand staff. “It’s a serious problem within...
Businesses want to be paid in a timely manner. Governments want tax revenue. The advantages of cutting down on paper — and, specifically, paper invoices — can improve supply chain dynamics across any number of B2B verticals. Automating invoicing, with the rise of digital options...
Digital transformation isn’t as easy, or simple, as turning a switch that’s “off,” “on.” Rather, it’s a series of interlinked and ideally compounding process modernizations. Digital transformation takes time. And within the engine of progress, optical character recognition (OCR) is proving to be a key...
November 05, 2024
As businesses adapt to a digital environment, many accounts payable (AP) departments are still using outdated practices. With rising business-to-business (B2B) payment volumes and cumbersome manual systems still in place, companies are prioritizing AP automation. A PYMNTS Intelligence report, “Automating Accounts Payable for Cost Savings,” in collaboration with Finexio, examines this shift, which enhances efficiency […]
September 26, 2024
Manual accounts payable (AP) operations can cost firms more than they might think. And the complexity of enterprise AP programs presents a challenge for businesses, particularly as many companies face...
July 31, 2024
If all goes well, the future of business processes won’t look anything like its past. And that holds particularly true in business-to-business (B2B) payments, where the past — and even...
July 30, 2024
Transforming back-office functions can often serve as a way to move business growth forward. And the accounts payable (AP) function, which plays a crucial role in maintaining the financial health...
August 13, 2024
Business management software firm Sage is expanding its AP automation offering. The company, which makes accounting, financial, HR and payroll products for small and medium-sized businesses (SMBs), announced the expansion Tuesday (Aug. 13) as part of a series of enhancements and updates for customers of its Sage Intacct offering. “As part of this major expansion, Sage Intacct is rolling […]
July 25, 2024
TranscendAP has added new artificial intelligence (AI) and machine learning (ML) functionality to its accounts payable (AP) platform for mid-market and large enterprises. The new TranscendAP 8.5 includes customizable dashboard...
July 11, 2024
Zone & Co has acquired Staria’s accounts payable (AP) automation solution, Staria Flow. This acquisition will add enterprise optical character recognition (OCR) capabilities to Zone’s procure-to-pay solution, the companies said in...
July 09, 2024
Symbeo’s accounts payable (AP) automation and artificial intelligence (AI)-enabled optical character recognition (OCR) solution, RapidInvoice, is now available on the Amazon Business App Center. This partnership will extend the reach...
