Read about the digital transformation of commercial payments and how to automate your enterprise cash cycle.
Why You Need an Accounts Receivable Process Flowchart
Feb 28, 2024 by Zazil Martinez
Consider creating a flowchart if you're looking for ways to improve your accounts receivable process. An accounts receivable flowchart visually represents the collection process, highlighting areas of inefficiency and opportunities for automation. Accounts receivable flowcharts are excellent for helping accounts receivable departments to visualize their processes. They often help pinpoint which areas are ripe for automation or improvement. Not only can they effectively keep your team on the same page and train new employees, but they can also help you see areas of inefficiency.
How to Find the Best AR Automation Software for Your Business
Feb 23, 2024 by Zazil Martinez
Finance professionals always search for ways to enhance efficiency and streamline financial operations. One powerful solution to address these challenges is finding the best AR automation software. But what exactly does this mean for CFOs and finance teams? Imagine that tedious tasks of manual invoicing, chasing payments, and reconciling accounts are in the past. The best AR automation software offers a solution that automates and optimizes accounts receivable management. This lets finance professionals focus on strategic initiatives rather than mundane administrative tasks. But with so many available options, choosing the best AR automation software can be daunting. Here's a comprehensive guide on what to look for to select the best one for your business.
Top Challenges Accounts Receivable Teams Face and How to Solve Them
Feb 20, 2024 by Zazil Martinez
In today's fast-paced digital marketplace, accounts receivable (AR) teams face numerous challenges that impact a company's cash flow and growth. Even with an optimal rhythm, some remain significant. Common accounts receivable challenges include high DSO, ledger disorganization, poor communication, and inadequate policies. Streamlining processes, offering multiple payment options, going paperless, updating customer information, and automating AR can overcome these. A structured credit policy can help identify suitable customers. A weak accounts receivable management process can cause several other unintended consequences, including:
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B2B Payments Explained - What are B2B Payments and How to Employ Them
Oct 27, 2020 by Brandon Jones
Payment methods have evolved to support several different consumer and business needs over the past decade.
The Four Pillars of Modern B2B Payments
Jul 9, 2019 by Eduardo Lopez
Creating a modern B2B payments experience comes down to one idea: transactions should be frictionless. There's no reason a customer should worry about how much they're being charged or whether a transaction is secure. Vendors shouldn’t spend time thinking about what payment methods to accept, how quickly they'll receive payment, or how to integrate those payments into their overall cash cycle. All of those things should be automatic.
“Going Digital” Means More Than Just Accepting Credit Cards
Nov 29, 2018 by Mark Fisher
What does accepting credit card payments really mean for your business? To some companies, credit card payments translate to expansion into new markets. To others, credit card processing signals unaffordable transaction fees or more complex technical integrations. Fill in the blank with your own answer. But the one thing credit cards definitely don’t mean: that the business has joined the digital era just by virtue of accepting them as a method of payment.
Paper Checks Are On the Decline in the B2B Payments Space
Oct 30, 2018 by Mark Fisher
Making it easy for customers to pay their bills is a key component of any successful company. Because really, if you can’t collect payments, how will your business survive? For many B2B companies, this means accepting paper checks as the predominant method of payment. And once you start, it’s really hard to convince yourself that customers will pay any other way.
Twelve Cloud Technologies Changing the Property Management Industry
Aug 3, 2017 by Kenzie Earle
Property management is defined as the coordination of residential, commercial and real estate structures, including apartments, detached housing, condominium units and shopping centers. The properties are overseen by a property manager, who acts on behalf of the owner to maintain the value of the property while increasing profitability. According to 2017 statistics, the property management industry makes an estimated $73 billion a year. About 60% of residents in San Francisco, Boston and New York are renters and nine million households have become renters in the last 10 years, the greatest increase in housing history. The property management industry has been slow to embrace innovations in technology. But investors watching the market trends are spending huge amounts of resources in cloud-based property management solutions. With mounting pressure to embrace the digital world, property managers are looking for software that is innovative, effective and user-friendly. Cloud-based computing offers both a dynamic and competitive advantage. By eliminating costs from outdated servers and manual processes, along with providing real- time data and remote access, cloud-based property management software is scalable for the future. Listed below are twelve suggested cloud software to utilize for property management in the rising renters market:
Introducing Blockchain Certified Payments
Oct 26, 2016 by Erica Zeidenberg
Today Paystand, is introducing a completely new way for enterprise payments to leverage the blockchain. For the first time in the industry, Paystand customers have the option to certify and notarize payments on the blockchain (from payment requests & invoices to completed payment receipts) to ensure that the history of payments are secure, auditable, independently verifiable, and free of tampering.
The Top 5 Myths about Accepting Paper Check Payments
Nov 17, 2015 by Scott Campbell
Here in Silicon Valley it’s easy to forget that not every business process has been transformed by tech’s magic wand. Case in point: over half of all business-to-business payments still take place by paper check, sent via snail-mail. Even more surprising is that many of the companies we talk to are perfectly satisfied with a process that works exactly the same as it did 75 years ago. Are check payments a perfect example of “If it ain’t broke, don’t fix it?” Or has the gospel of digital payments just not reached the traditional business world yet?