The How and Why of Payments: Survey Insights, Metrics, Best Practices
|Title:||The How and Why of Payments: Survey Insights, Metrics, Best Practices|
Now that technology is offering companies visibility into all aspects of accounts payable/payments it is time for companies to take more control of how they make payments. Different payment types vary in terms of processing costs and risk exposures.
Watch the recording as we review the key results of the initial Payment Strategy: How and Why Companies Make Payments survey which had well over 350 responses from Treasury and Finance leaders across the United States. The missions of this survey are to help treasury and finance better understand the how and why of payments and to deliver insights into how companies can achieve payment type optimization.
The objectives of the Payment Strategy: How and Why Companies Make Payments survey were to:
– Benchmark how companies are currently making payments (checks, ACH, credit card, virtual card)
– Determine if companies track how they make payments
– Determine how companies choose how to make payments
– Assess the role of supplier relationships in managing how payments are made to suppliers
– Assess the role of technology in managing supplier relationships