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Embracing Accounts Payable Automation: The Paper Vaccine

PYMNTS

For years, there has been a quiet shift in the B2B payments space. Paper checks — once dominant in all areas of commerce, now extinct for most consumers — have slowly lost ground, slipping to a meager, yet still surprising, 42 percent of all B2B payment types in 2019. However, in the wake of COVID-19, that may no longer be an option.

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Billtrust, Priority Streamline B2B Payments Reconciliation

PYMNTS

Order-to-cash solutions provider Billtrust has added Priority Commercial Payments to its Business Payments Network (BPN) to streamline B2B payments reconciliation, the companies said in a press release this week. Acquirers and accounts receivable platforms can also connect to the network to capture transaction data for end-users.

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Kodak, CoreIntegrator Roll Out Accounts Payable Automation Platform

PYMNTS

The platform automates invoice registration, data entry and verification to enable AP professionals to access a digital copy of an invoice within 24 hours. Once approved, A/P One creates a batch file that is sent to accounting systems to trigger vendor payment.

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Amex To Acquire Digital Payments Automation Firm

PYMNTS

Developed in 2016, the acompay platform integrates with enterprise resource planning or accounting systems and supports check, automated clearing house (ACH), and card payments.

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U.S. Bank’s AP Tool Eases Virtual Payment Adoption

PYMNTS

Bank’s latest offering for corporate treasurers aims to simplify the shift from manual to virtual B2B payments. 26) its latest tool, APConnector, as a way to automate and digitize accounts payable, while integrating that process into existing ERP systems. The bank announced Wednesday (Oct. Bank, reports said.

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Comdata Automates Virtual Card Supplier Enrollment

PYMNTS

B2B payments company Comdata wants to streamline the process by which companies can enroll suppliers onto a virtual card program and is seeking a patent for its solution. We already integrate our virtual credit card system to each client’s ERP or accounting system to make the payment and reconciliation process seamless.

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Comdata, Noventis Link Up For Virtual Cards

PYMNTS

Commercial cards make up just a fraction of the supplier payments space, but the rise in virtual card technology – and the efficiency and security that come along with it – could help card issuers grab a larger slice of the B2B payments market. But we’ve been focused on different pieces of the puzzle.