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In this month’s Feature Story, Caleb Jenkins , leader of client accounting services for tax and accounting firm RLJ Financial , describes how the firms’ need for real-time payment options is peaking amid the pandemic and how virtual cards can help deliver the faster payments options they need to stay afloat. About The Playbook.
As Joiner explained it, getting various stakeholders on board to institute a virtual corporate card, for example, or other spendmanagementtools — along with the great diaspora of the workforce — is a challenge. Yet there’s a wide gulf between considering the great shift to digital B2B payments and actually making the leap.
Classify and communicate the scope of unmanaged spend. Choose your tools — implement capable spendmanagementtools. Perform a spend assessment (implement tools with real-time insights and pullable reports). Automate the purchase requisition and purchase order approval processes.
With a focus on integration with payment and accounting platforms, the startup said it will also continue to connect with a broader array of data sources to bolster small to medium-sized business (SMB) loan underwriting for its partners, which include banks and other lenders. The Access Group , a U.K.-based According to BusinessLeader.co.uk
Accountspayable (AP) professionals and vendors still have reservations about adopting virtual cards despite their many benefits. Bryant formed the Bryant Stibel venture capital firm in 2013 with Jeff Stibel, founder of Web.com. The firm has more than $2 billion in assets. Bank Is Doing to Drive Virtual Card Adoption.
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