B2B companies are currently up to their necks in "digital transformation." Maybe, just maybe, it's time to take a step back and look at things through a different lens.
Clear B2B payment trends have emerged, and are likely to unfold in the next twelve months, according to CEO Josh Cyphers of Nvoicepay, a FLEETCOR company.
A particular faction of fraudulent activity—‘BEC’, or Business Email Compromise—has gained notoriety over the years and is such a large operation that it’s become more of an umbrella term for various attacks. Among these subsets comes the newer term, ‘VEC’, or Vendor Email Compromise.
Everyone knows the term "return on investment"—or “ROI." I think we should re-establish a less-recognized concept: return on experience.
Post-pandemic businesses have adapted by interfacing with technology to get the same tasks done with less redundancy and bulk. Daily operations have stripped down to bare essentials, some bearing costs to the customer, but many renewed in their devotion to make a more human connection with those they serve.
If there’s one thing payment companies of any caliber are familiar with watching out for, it’s Business Email Compromise. Here are some of the most common BEC techniques that fraudsters take advantage of.
Forced to work from home during COVID-19, accounts payable departments have accelerated plans to move away from paper checks and pay more of their suppliers by ACH. That, in turn, accelerated another trend: fraud.
Today's CFO is expected to be highly strategic. But does that always have to mean they must undertake Transformation with a capital "T?"
COVID-19 has thrown construction industry back offices for a loop. Trying to get employees equipped to work securely from home; figuring out how to make manual processes work when everyone's working outside the office; applying for and administering PPE loans to keep paying salaries for unionized workers—all of these are prominent topics of conversation.
When people hear the concept, "Accounts Payable Automation" they take it either one of two ways: they understand its depth and complexity completely, or the phrase vaguely references “that expensive thing the big companies just started doing” or “that option for businesses without a proven accounts payable process already nailed down.”
Credit cards are a valuable component of a supplier payment program. Not every supplier will accept card payments, but many do prefer the speed, convenience, and security that comes with it. The company making payments also gets a one or two percent rebate. Except when they don’t.
Paying suppliers by check is a practice that has endured for much longer than anyone would have imagined. Though COVID-19 appeared to be the tipping point for companies to go electronic, checks still cause massive bottlenecks in AP processes. Here are the Four Es to consider when making a case to automate your payments process.
Traditionally, when it comes to financial transactions, people think banks. They’ve always been there to hold our money, invest our money, and facilitate our transactions.
But that doesn’t mean they’re the only option – or the best option.
Stephen Haxton, Nvoicepay's Payment Modification manager, offers a glimpse into the development of our stale check processes, as well as how it brings success to our customers.
COVID-19 overhauled the U.S. healthcare system overnight. Systems we paid little mind to before, whether they are life-saving medical supply manufacturers, critical hospital budgets, or ICU capacity limits, now garner universal attention. Another area of the healthcare industry is stepping into the forefront--back-office procedures. Here's how healthcare facilities can resolve their financial strain.