The New Normal In Corporate Payment Solutions

The average consumer has an easier time of paying their bills than businesses.  Never mind publicly traded corporations or highly regulated entities such as insurance companies and financial institutions.

While it’s true that sound stewardship of corporate accounting is far more complex than managing household finances, receiving money and paying bills is extraordinarily expensive with fewer choices for corporate America.

Instant payment of bills for the consumer can be accomplished over the internet by use of credit cards, bank debit cards and electronic checks.  Fewer Americans write checks, lick envelopes and stamps and mail their payments.  Our twenty something generation never reconciles their bank accounts as part of the ritual of paying their bills.  Electronic transfer options pay the utilities, insurance, the mortgage and the car payments and in just hours, these transactions are recorded with their bank and available through the bank’s web portal.

Most businesses largely pay accounts payables with checks.  The process of writing checks, printing, mailing and reconciliation is expensive and less efficient than breakthrough alternatives.

In this forum we are dedicated to creating awareness of trends, developing technology and conventions for CFO, Treasurers and those with oversight of the bottom.

Financial professionals today, are able to create significant revenue streams in their finance department by simply paying their bills.  Just as importantly, significant hard and soft costs are reduced, and performance metrics such as daily payable outstanding are improved.

Our goal is first to inform and if we can assist that works too.