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6 Accounts Payable Automation Trends To Watch in 2023

MineralTree

New Fraud Methods Will Target Vulnerabilities of Hybrid Teams 98% of B2B firms reported fraud attacks in 2021 , resulting in an average loss of 3.5% With an AP automation tool like MineralTree, your team can begin the process of digitizing its AP function , all while improving data accuracy and analytics capabilities.

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Basware Debuts AI Tool For Accounts Payable Automation

PYMNTS

To automate the transformation of machine-readable PDFs to digital invoices, Basware has rolled out SmartPDF AI in the newest expansion of its SmartPDF offering. The tool uses information taken from past invoices through a cutting-edge machine learning (ML) model, according to a Tuesday (Sept. 22) announcement.

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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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Visa Ready Program For B2B Payments Grows With Extend

PYMNTS

18), Extend said it is integrating its card issuing capabilities into the Visa Ready program, a framework for businesses that adopt Visa B2B payments solutions, enabling companies to more seamlessly access additional financial tools like accounts payable automation, virtual card functionality, data analytics and more.

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Small, Early-Stage Funding Rounds Dominate B2B FinTech

PYMNTS

We’re covering two weeks’ worth of B2B venture capital funding, and across the board, India has come out on top. But the largest venture capital funding round went to an accounts payable automation firm in the U.S. It’s certainly not the largest funding round the B2B FinTech industry has seen.

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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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Where Faster Payments Fits Between B2B Buyers And Suppliers

PYMNTS

Accounts payable (AP) automation technology has hit the ground running, with solutions designed to accelerate invoice processing, optimize payment strategies and promote digital adoption. “Buyers and sellers in the B2B world, they do not share interests, many times,” he said. ” Finding A Middle Ground.

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