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Yet, a new report from the Association for Financial Professionals (AFP) warned of only minuscule adoption of these tools so far, a trend that analysts described as “troubling.” “These technologies are disrupting every organization, especially the finance function.
PYMNTS research released last October in the “ Bringing Corporate Payments Out of the Dark Ages ” webinar revealed 64 percent of B2B payments are made with checks, despite consumer payments’ acceleration toward electronic tools. The paper check continues to be a prominent — and, in many cases, dominant — payment method in B2B transactions.
The AFP’s latest Corporate Cash Indicators report, published Monday (Jan. 28), said corporate treasurers and finance executives are planning to deploy cash “ in the form of capital expenditure, share buybacks, dividends and debt payments, ” a trend in line with historical data.
Most recently, Verizon , Freddie Mac and Publix all attributed the regulatory initiative to strong first-quarter performance, while TD Bank research published in March also found corporate treasurers to be widely optimistic about the Tax Cuts and Jobs Act introduced last year. corporates from spending their rising cash reserves.
The online study of almost 1400 adults, supported by a grant by the AFP Foundation for Philanthropy, reported that “53% of respondents had made a checkout charity donation in the past year.” Werner added: “The Donation on Device program will help us sustain and expand our programs, research, and advocacy that give comfort and inspire hope.”
For the 2016 AFP Electronic Payments Survey, released on Tuesday (Sept. 20), researchers found a 1 percent increase in the use of paper checks for B2B payments compared to 2013 levels. But a new report finds that, even as Same Day ACH is fast-approaching, businesses are actually increasing their use of paper checks.
corporates ramped up their cash accumulation during the fourth quarter of 2019, a sign of a cautious approach to the economy, new research from the Association for Financial Professionals (AFP) said on Monday (Jan. 27), per a report from Yahoo! The cash stockpiling was not entirely unexpected.
A new report from the Association for Financial Professionals (AFP) found that only about a tenth of surveyed corporate treasurers are prepared for emerging technologies like blockchain and machine learning to disrupt the enterprise. That means RPA can handle simple, repetitive tasks as well as more complex tasks, the AFP explained.
If the Business Email Compromise (BEC) scam isn’t on the radar of every corporate finance executive, it certainly should be. The problem is getting worse, according to the Association for Financial Professionals’ (AFP) latest Payments Fraud and Control Survey Report.
For that reason, relevant communities and resources for accounts payable extend beyond finance. Organizations targeting AP and P2P Professionals Institute of Finance & Management (IOFM): IOFM focuses on education, certification and networking specifically tailored for AP and P2P practitioners.
John Tomich, co-founder and CEO of eCommerce point-of-purchase financing company Credit Key , estimates that the B2B eCommerce market is 10-15 years behind B2C’s. ” Research from eCommerce platform BigCommerce found that online merchants are increasingly embracing corporate customers. alone will reach $1.2 trillion by 2021.
The 2008 global financial crisis forced traditional banks to pull back from small businesses (SMBs) considered too risky and unprofitable to finance, leaving a gap in the market for alternative lenders and FinTech firms to fill. Alt Lenders And Challenger Banks Target SMBs.
New research from Asset Benchmark Research suggests ties with regulators and even reputation are not the number one priority for corporate treasurers looking for a cash management provider. The AFP, along with Marsh & McLennan Cos.,
New research finds that nearly all corporate treasurers agree that their relationship with financial institutions is a key factor in determining which bank to work with and where to invest short-term cash. The findings were detailed in the latest 2016 AFP Liquidity Survey , underwritten by State Street Global Advisors (SSGA).
In their Strategic Role of Treasury Survey , the AFP and Marsh & McLennan identified the forces pressing companies to shift the treasury department into a more strategic position. Capital allocation, financial risk management, and treasury and payment technologies are also key areas of focus, researchers found. Progress Ahead.
The Association for Financial Professionals (AFP) released its 2016 Electronic Payments Survey earlier this year and found that use of paper checks in B2B payments actually rose 1 percent compared to 2013 levels. About 44 percent of payments received are in the form of a paper check too, the report noted.
But new research from treasury management firm Kyriba suggests treasurers and CFOs are falling short in delivering on some of the top priorities of the corporate board. According to Chris Schmidt, director of research and custom content at CFO Publishing , the data paints a clear picture about executives’ concerns over fraud.
In the context of the rollout of Same Day ACH, as well as new research that found companies have actually increased their use of the paper check in the last three years, the payment rail choice isn’t always easy. It’s unlikely that one payment technology will become so popular that it drives others into irrelevancy, he said.
Corporate treasurers show increasing interest in real time and faster payment solutions, the latest research suggests. Although new technology is appealing, treasury and finance professionals tend to stick with what works for them, and their vendors,” said AFP President and CEO Jim Kaitz. FinTechs Move Money To Vendors Faster.
In some cases, research suggests, business owners are a bit misguided and possibly stuck in the past. Researchers last week found evidence that SMEs remain committed to growth and value their relationships with traditional banks. One-third of SMEs cite staffing as their top challenge , found research by Vistage Worldwide.
Research from Atradius released in 2016 found that risks down the supply chain are 75 percent higher than they were pre-financial crisis. According to Payoneer research released last year, 75 percent of small businesses said they turned down an international business deal because of the risk of non-payment. Payment Shifts.
According to Business Insider, Postmates was slow to raise its new round of financing, and DoorDash raised only a $600 million valuation. Morgan Stanley Research found that, as of 2015, approximately $210 billion worth of food is ordered for delivery or takeout annually. UberEATS and GrubHub, however, are growing.
Researchers champion digital payments as a way to combat the security, speed and efficiency problems associated with paper checks. The research, also published by the AFP for its 2016 Electronic Payments Survey , found a 1 percent increase in the use of paper checks for B2B payments compared to levels seen in 2013.
In the latest PYMNTS Data Digest, we look at the research on what’s “up” with SMEs — like optimism and borrowing levels. Its small business cost index, released in conjunction with the Centre for Economics and Business Research, found that the 3.2 SMEs need profits, sales, and performance all to be on the rise.
In line with previous research, NABE’s report noted that these trends are not yet linked to tax reform. Earlier research published by the Association for Financial Professionals in May found that corporates in the U.S. are not increasing their spending as a result of tax reform.
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