Every year, businesses in North America make $27 Trillion dollars in B2B payments and spend an estimated $510B on manual Accounts Payables costs (direct and indirect) making those payments. More than 50% of these payments are still made by paper checks. By automating Accounts Payable, businesses can save as much as 80% of these costs.
Modern finance leaders know that moving to electronic payments isn’t just about cost savings, but instead part of a broader strategy of digitizing their finance function overall, and specifically adopting a holistic electronic payment strategy. In doing so, you can leverage electronic payment methods to generate cash, reduce fraud, increase visibility and control, and strengthen supplier relationships.
Join us for this panel discussion where you will learn:
- Why and how to accelerate movement to electronic payments
- How to reduce your costs of payments
- Types of electronic payments and benefits of each
- How to reduce risk from your payments process