How to Get the Most Out of Payment Automation
Discover the 10 secrets your banker won't tell you about their bank services and payment automation services. Consider a means of payment automation that provides solutions that enable diversified banking relationships that work for your company. Learn more about the best payment automation systems.
Automated Clearing House (ACH) transactions have seen a significant increase in B2B Payments from past quarters. It comes as no surprise as ACH offers value added benefits over paper checks. If A/P and A/R departments can send and receive payments faster, lower costs and increase cash flow, why not make the switch from paper to electronic payments?
The ability to automate costly and time-consuming workflows has changed the way businesses operate and manage their resources, and some savvy businesses have already jumped on this trend and implemented automated-software solutions to improve their accounts payable department.
Automating A/R process will reduce inefficiencies. Similarly, A/R automation will eliminate manual data entry errors and reduce transaction time. Key performance indicators (KPIs) and defined capital metrics are also important. Learn how you can free up cash flow and strengthen working capital.
ACH payments are considered more secure than checks, and provide a better a better risk management system. ePayments in the form of ACH or Virtual Cards are very convenient compared to traditional checks. Online payments make transactions run much more efficiently without all of the hassles.
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