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.
It’s a difficult time to be a supplier. Nvoicepay President Josh Cyphers explains why buyers who prioritize supplier relationships improve their own revenue streams.
In today’s marketplace, the consumer has many more options available to them to execute their transactions. Payment providers and banks alike now offer alternative payment pathways focused on speed, transparency, and cost, all of which contribute to a better consumer experience. One of the cornerstones of these technological advances is APIs.
Manufacturing businesses across the country are overwhelmingly stuck with manual payments process that cost more time and money than necessary.
Hospitality industry automation champion, Beanworks, discusses how internal automation has created much-need relief for AP teams across the country.
When companies begin their research on electronic payment solutions, they usually have a list of pain points they want to resolve. However, it's also important to consider the other benefits offered, and how they might fit into and support more than just the basics. Nvoicepay's SVP of Operations and Customer Success, Angela Anastasakis, breaks down the lesser-known benefits to adopting a holistic solution.
Businesses in the hospitality industry are specialists in customer service--so it's important to set up your business for success. Automating your payments enables you to answer back-office calls for efficiency and time-saving processes without sacrificing front-office needs. Here are five ways that payment automation providers can support your business.
Nvoicepay's co-founder, Karla Friede, discusses businesses' recent prioritization of payment workflows upgrades, and how B2B electronic payment providers have laid the groundwork for an easy and successful transition.
Using the right accounts payable procedures is an essential component to a business’ success. Take an honest look at your current practices and identify areas to target for improvement to increase your operational efficiency.
With dozens of electronic payment providers offering their solutions, it can be difficult to know how to find the one that best meets your company's needs. Nvoicepay CEO Karla Friede lists the five framework measures you should consider, and offers the questions to ask prospective solution providers before you commit.