article thumbnail

Why Faster Payments Isn’t The Answer To Accounts Receivable Delays

PYMNTS

That probably won’t come as a surprise to many in the B2B payments space, considering that organizations typically try to float their capital for as long as possible, a cash management tactic that can lead to longer payment terms with small suppliers, and the prevalence of late payments. is a lack of remittance data, he said.

article thumbnail

Why Incremental Card Adoption Is Enough For Better Cash Management

PYMNTS

Commercial cards, and virtual cards specifically, have their place in B2B transactions, Krishna said, thanks to their cash flow management advantages for buyers and suppliers, their security, and remittance data capabilities. We’re not trying to drive the vast majority of B2B payments on cards,” Krishna said.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Orlando Magic Devises B2B Payments Game Plan

PYMNTS

The invoicing and corporate cash management firm revealed that the NBA team is now using Viewpost to manage its own supplier payments needs, enabling the franchise to send digital invoices to its corporate clients and accept electronic payments.

B2B 50
article thumbnail

Wells Targets ACH Data Friction In Accounts Receivable

PYMNTS

The tools aim to reduce paper in corporate finance operations, Wells explained, and nix manual remittance and data entry. Remittance advice matching automatically matches data from ACH and wire payments with remittance data sent by various channels, including paper mail, email and fax.

ACH 40
article thumbnail

How AR Can Usher The Legacy Lockbox Into The Digital Age

PYMNTS

And while the lockbox continues to play an important role in AR and reconciliation, it no longer addresses the entire challenge as more electronic payments come in without remittance data. He did note, however, that he is “very optimistic” about the emergence of new payment services able to move remittance data along with funds.

Lockbox 43
article thumbnail

In Payments Automation, Don’t Forget Accounts Receivable

PYMNTS

But a new report from Corcentric , written by the Institute of Finance & Management (IOFM), details the hurdles on the other side of the payment. Accounts receivable processes, like their AP counterparts, are similarly plagued by manual, paper processes, making the cash management effort monumental for suppliers.