The 5 Enterprise Benefits of Migrating to Electronic B2B Payments

Efforts to improve Accounts Payable through invoice processing automation have largely been undermined by the quadruple-whammy of:

1. Tight capital budgets
2. A lack of IT resources to support automation initiatives
3. Concerns about the risks of project failure
4. Challenges integrating invoice processing solutions with downstream systems and processes such as an enterprise resource planning (ERP) platform

As a result, most Accounts Payable departments rely on sub-optimal manual processes that frequently have a negative impact on the core functions of a business:

• Financial supply chain efficiency and effectiveness
• Budgeting, forecasting, and reporting
• Working capital management
• Spend management
• Compliance and control
• Fraud mitigation

But it doesn’t have to be this way.

IOFM’s latest white paper shows more businesses are discovering the benefits of migrating from paper check disbursements to electronic payments solutions like card programs with virtual card numbers (VCNs) – a single-use account or dedicated card account.

The white paper uncovers the significant strategic benefits businesses are achieving with electronic payments, and how migrating to electronic payments enables these businesses to avoid the upfront capital expense, IT burden, risk, or systems integration issues of automating invoice processing.

If your business wants to improve its Accounts Payable processes, but doesn’t see a way to overcome the challenges posed by invoice processing solutions, download this white paper today.

Continuing Education Credits available:

Receive 1 CEU toward APM, APS, or P2P recertification! The Accounts Payable Certification and Procure-to-Pay Certification Programs are designed to establish standards for the profession and recognize Accounts Payable and Procure-to-Pay professionals who, by possessing related work experience and passing a comprehensive exam, have met stringent requirements for mastering the Accounts Payable and Procure-to-Pay bodies of knowledge.

This white paper is provided free of charge and underwritten by a sponsor. Following your download, you may be contacted by the sponsor with information about their products and services.