You dread this “payment processing day” of the week because of the hours you spend selecting invoices for payment, getting approval, finding the invoice backup, printing/stuffing/mailing checks and answering remittance questions. If your AP team had an AP automation solution with , then you could reconcile corporate credit cards before payment or easily track the use tax and accruals for month end – and even take a few minutes for winter fun!
Your CFO desires tools to provide greater visibility into spending for better cash management. An electronic payment solution will deliver the means to pay vendors at the right time and with the right payment method. Does your CFO have an easy way to access this crucial information today?
To help both AP and your CFO take back their Fridays from manual payment processing, we’d like to share with you a few helpful resources on how electronic payables (ePayables) solutions are business essentials.
New 2017 Electronic Payments Report for Your CFO:
A new report by leading research firm PayStream covers payment management strategies and typical payment methods, challenges and goals based on a survey of over 300 accounting professionals. While , late payments and missed discounts, they still remain the preferred payment method. However, ePayables are increasingly gaining traction and shifting the payments culture of organizations - here’s how:
- Holistic ePayables streamline and provide visibility to the complete purchasing process – from requisition to purchase order to receipt to invoice to payment.
- A variety of payment methods – ACH, virtual credit card and even check (if necessary) – can be used in a single payment batch, allowing organizations to select options with more float.
- Segregation of duties for payment initiation and approval as well as two-factor authentication enforce more secure payments.
- Virtual credit cards increase ROI by providing the opportunity to earn significant cash rebates.
Industry Expert Shares How to Make Payment Processing Pay Off with ePayables:
Guest blogger and Consultant Steve Bernet of PayStream makes the business case for bringing both accounts payable and purchasing departments on board with ePayables solutions. As Steve points out, these solutions not only reduce the hard costs of paper checks but also foster a company culture of greater collaboration and ownership of spending decisions.
Ready to take back your Fridays with a new electronic payment and AP automation solution for your team? Join Ariett’s upcoming webinar .
By Ariett:
Ariett generates savings on every contract, requisition, invoice, expense report and payment with a modern, unified procurement platform. Designed to work the way you work, Ariett’s easy-to-use web application delights employees by running on any mobile device or desktop. Accounting teams everywhere benefit from upfront purchasing control, global visibility to spending and audit trails, which drive cost savings across the enterprise. For more information, please visit , call 781-826-1120 or connect with Ariett on and .
