Payment Management: The Key to Process Efficiency in ePayables
One of the benefits of electronic supplier settlement is improved process efficiency in your AP department. This efficiency is realized through a reduction in paper checks, postage, remittance information, and 1099s.
However, many bank ePayables programs require so much supplier onboarding and payment reconciliation work that any efficiency realized through electronic payments is lost. To avoid falling into this trap, work with a payment services provider that provides complete supplier onboarding and payment management—which includes: continuous supplier onboarding, invoice level payment management, credit memo management, and mis-swiped or un-swiped card management.