The voice of P2P automation from the finance process gurus at PayStream Advisors

Global eInvoicing Report Webinar

Please join Pete Loughlin, Purchasing Insight's Managing Editor, and Markus Ament, Taulia's Chief Product Officer, for a unique webinar. They will discuss the findings from the recently released Purchasing Insight and PayStream Advisors Global eInvoicing Report:

• 60% of responde   Continue Reading +
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Global e-Commerce on the Rise

This year, we expect several trends to drive the growth of global e-commerce. As companies continue to focus on managing spend and increasing profitability, they will look for ways to increase real-time visibility and control over their finances.

Financial collaboration between trading partners through e-invoicing and transactions over interoperable business commerce networks will continue to increase as companies realize the value that they deliver in visibility, cost savings and improved buyer/supplier relationships.   Continue Reading +

10 Reasons Why your Suppliers Want Electronic Invoices

Suppliers seem to be rallying behind recent value-added services, such as supplier networks, dynamic discounting, purchase order to invoice flips, and low to no-fee supplier transaction costs.   Continue Reading +

Move to the Middle: Automation Technologies Trickle Down

 After more than a decade of market excitement about the coming electronic future, only now are we beginning to move from the long tail of large early adopters into the fat middle market of small and medium-sized enterprises (SME). And, as we reported in last year’s report “Electronic Invoice Management: The Cloud’s Silver Lining,” the future looks much different than the past.

“Companies with revenues over USD $2 billion (“Titans”) have largely automated .   Continue Reading +

Overcoming Barriers to Adoption of Electronic Invoicing

Despite the steady increase in the number of companies adopting electronic invoicing, paper invoices remain the primary method of B2B billing in the United States. Barriers to adoption today remain the same as they’ve always been.   Continue Reading +

PayStream Releases Shared Services Report

The term shared services has evolved over the past two decades and today goes well beyond simply centralization and standardization. Progressive companies have evolved from centralized operations into true shared service models, to reap the benefits of cost savings, efficiencies and overall better service, that shared service models have heralded.

By definition, shared services are the consolidation of business operations that are used or “shared” by multiple parts of the same organization. Shared services are cost-efficient because they work to centralize back-office operations that are used by multiple divisions of the same company and eliminate redundancy.   Continue Reading +

PayStream Advisors Publishes Global eInvoicing Whitepaper

In 2012, PayStream Advisors and Purchasing Insight launched a global electronic invoice survey to AP, finance and treasury personnel in a wide range of industries. The survey received over 200 responses, which were analyzed for the creation of the Global eInvoice report.   Continue Reading +

Looking for Inspiration to Attend Coupa’s INSPIRE Event?

Savvy companies looking to further enhance efficiency, visibility and savings through cloud-based automation don’t want to miss Coupa’s upcoming INSPIRE event. The event is being held April 8-10, 2013 at the Westin St.   Continue Reading +

Corcentric Launches an Automation-centric Accounts Payable Blog

Corcentric Launches an Automation-centric Accounts Payable Blog

Corcentric, a leading provider of Accounts Payable automation and electronic invoicing solutions, recently launched a new blog site.   Continue Reading +

InStream Joins AnyDoc’s Value-Added Reseller Program

AnyDoc Software, a leading provider of automated document, data capture, and classification solutions, announced today that InStream, LLC has joined the AnyDoc Software channel as a Value-Added Reseller.

InStream specializes in back-office processing and business process outsourcing (BPO), including document and data capture, document management, workflow, and integration of document imaging with line-of-business applications.   Continue Reading +

GT Nexus and TradeCard to Merge

GT Nexus and TradeCard recently announced that the companies have entered into a definitive merger agreement. The companies are leaders and pioneers in cloud-based technology platforms that link companies together in commerce networks.   Continue Reading +

Medical manufacturing company signs 1.1 MUSD deal with ReadSoft

ReadSoft North America recently announced they reached an agreement with a global manufacturing company in the healthcare sector. ReadSoft will provide its SAP®-certified invoice automation solution PROCESS DIRECTOR in a deal worth 1.1 MUSD.   Continue Reading +

Lexmark acquires Acuo Technologies

Lexmark’s Perceptive Software becomes the only vendor to own this technology and offer a solution that drives better patient care, an enhanced clinician experience and cost savings through a single, enterprise-wide and content-based medical record that is accessible via any electronic medical record (EMR) system Lexmark International, Inc.   Continue Reading +

RCM Automation – Working to Fill the Gaps in the Order-to-Cash Process

In an effort to fill the gaps in the order-to-cash process, the Revenue Cycle Management (RCM) arena has grown tremendously over the past couple of years.  This market growth has created the development of increasingly sophisticated and robust automation solutions that make Straight Through Processing (STP) opportunities within the order to cash process the norm, rather than the exception. PayStream analysts felt that the time was ripe to re-evaluate the RCM market through the development of a new RCM report that is slated to be published by PayStream in early January 2013.  The last RCM report was published in 2007 and the past five years have brought about a lot of changes in the RCM market. Today’s sophisticated RCM automation solutions help companies streamline accounts receivable collections and better manage accounts receivable credit and collections activities to successfully reduce Days Sales Outstanding (DSO) and overcome obstacles in the process.  RCM solutions achieve this by:

• Consolidating information,
• Automating repetitive tasks,
• Generating actionable intelligence, and
• Driving workflow based on user defined rules and routines.

Today’s RCM solutions provide a wide spectrum of tasks and intelligence that ensure timely payments by customers, ranging from evaluating credit risk, assuring invoice accuracy, applying payments, managing collections, resolving disputes and analyzing data. The upcoming 2012 Revenue Cycle Management report will be geared towards Customer Care, Collections and Accounts Receivable professionals who are seeking information regarding collection management solutions to automate their B2B collection management process.  The report will help buyers make vendor and technology selection decisions as they evaluate new collections automation strategies and solutions.  PayStream will focus on collections automation solution providers who have strong capabilities and product strategies to meet the needs of medium and large corporations.  In addition, the report will provide our analysts’ unbiased view of credit and collection trends and best practices, as well as deliver insights on providers who are currently shaping the RCM industry. Be sure to check back in early January to download your complimentary copy of the RCM report. Mark your calendar for the upcoming Order-to-Cash Virtual Summit event that is scheduled on February 13, 2013.   Continue Reading +

PayStream Advisors Says AP Automation Market Revenue to Reach $1.7 Billion in 2013

The US AP Automation Market revenue is forecast to reach $1.7 billion in 2013, a 11.9 percent increase from 2012 revenue of $1.55 billion, according to PayStream Advisors, Inc. a research and consulting firm focused on back office financial applications.   Continue Reading +

Bottomline Technologies Named a ‘Best Company to Work For’

Bottomline Technologies (NASDAQ: EPAY) today announced that it has been recognized for the fifth year in a row as a “Best Company to Work For”. This annual competition sponsored by Business NH Magazine recognizes companies that demonstrate a commitment to their employees’ professional growth and personal well-being through innovative workplace programs, company culture and benefits.   Continue Reading +

Replicon Unifies Time Tracking with Concur’s TEM Solution

Replicon, the global leader in cloud-based time tracking software is introducing a unified cloud-based travel, time and expense tracking offering through a partnership with Concur (NASDAQ: CNQR), the leading provider of integrated travel and expense management solutions.   Continue Reading +

Health Care EFT Standards – Part 2

Matthew Dragiff Vice President, Product Management, SunGard’s AvantGard In-Band vs. Out-of-Band Remittance Delivery…

In Part I of my Understanding Healthcare EFT standards blog, I identified several major obstacles for health care providers to adopt EFT (electronic funds transfer) and ERA (electronic remittance advice).  In Part II, I will explore the differences between in-band versus out-of-band remittance delivery and how it relates to EFT standards.  In an earlier blog Post-Sibos 2011 Thought: The Remittance Data Transport Conundrum for Banks, I briefly discussed these two approaches for delivering payments and associated remittance.  The term in-band means that the payment and remittance information flow together.  Receipt of a paper check along with printed invoice payment details is an example of this, as is the NACHA CTX transaction.  Out-of-band means that the payment and remittance information flow separately through different channels and delivery may follow separate timelines.  A wire payment followed by the delivery of printed remittance is an example of this.   Continue Reading +

PayStream Releases New eInvoice Report

After more than a decade of market excitement about the coming electronic future, only now are we beginning to move from the long tail of large early adopters into the fat middle market of small and medium-sized enterprises (SME).  Electronic invoice technology has been proven.  The resul   Continue Reading +

Coupa Wins 2012 Best in Biz Award

Coupa Software, the leading provider of cloud-based spend optimization solutions, today announced that it has been named a silver winner in the category of “Fastest-Growing Company of the Year” by the 2012 Best in Biz Awards, the only independent business awards program judged by industry analysts and members of the press. Coupa’s rapid growth has been attributed to more than a 1,000 percent increase in revenue growth over the past four years, which was driven by its ever-expanding customer base.   Continue Reading +

Concur Launches $150 Million Concur Perfect Trip Fund

Concur (NASDAQ: CNQR), a leading provider of integrated travel and expense management solutions, recently announced the launch of the Concur Perfect Trip™ Fund, $150 million in capital allocated specifically to invest in and nurture emerging companies in the T&E Cloud.   Continue Reading +

Coupa and OB10 Announce a Strategic Partnership

Coupa Software, the leader of cloud-based spend optimization solutions, and OB10, the leading e-Invoicing network, recently announced a strategic partnership that will provide Coupa customers with seamless integration to eliminate the need for paper invoices. As a result of the partnership, OB10 customers can choose to take advantage of the market-leading procure-to-pay solution, maximizing their investment in electronic invoicing. Coupa customers can now receive electronic invoices into OB10 for expanded global e-Invoicing compliance and dynamic discounting capabilities.   Continue Reading +

GXS Expands Electronic Invoicing Solutions to Mexico and Brazil

GXS, a leading provider of B2B integration services, recently announced that it has expanded e-Invoicing compliance for its Active Invoices with Compliance (AIC) solution to two additional Latin American countries.   Continue Reading +

WEX Partners with Higher One to Launch VendorPay

WEX Inc. (NYSE: WXS), a leading international provider of physical, digital and virtual corporate card payment solutions, recently announced it has partnered with Higher One to launch VendorPay, a customized virtual payment solution for higher education institutions.   Continue Reading +

U.S. Bank Acquires FSV Payment Systems

U.S. Bank, lead bank of U.S. Bancorp (NYSE: USB), recently announced that it is acquiring Florida-based FSV Payment Systems, a prepaid card processing company known for its expertise managing a broad range of prepaid programs for companies, governments and other financial institutions. The acquisition combines U.S.   Continue Reading +

Understanding Health Care EFT Standards

Matthew Dragiff Vice President, Product Management SunGard’s AvantGard Brief History On March 23, 2010, the Patient Protection and Affordable Care Act (PPACA) was signed into law.  Section 1104 of the PPACA requires the adoption of operating rules for health care electronic funds transfers (EFT) and electronic remittance advice (ERA) transactions.  The goal of section 1104 is to reduce the administrative burden on healthcare providers by lessening the time and labor spent interacting with multiple health insurance plans, often referred to as billing and insurance related (BIR) tasks. During 2010, NACHA collaborated with the Council for Affordable Quality Healthcare (a non-profit alliance of health plans and trade associations) Committee on Operating Rules for Information Exchange (CAQH CORE) on a research project to better understand how health plans and providers use EFTs and ERAs. In December of 2010, a hearing was held by the National Committee on Vital and Health Statistics (NCVHS).  The NCVHS engaged in a comprehensive review of potential standards and operating rules for the EFT and ERA transactions.  The hearing included public testimony by stakeholders representing a cross section of the health care industry, banking industry and standards development organizations. In March of 2011, NCVHS recommended to the Secretary of Health and Human Services (HHS) that CAQH CORE and NACHA draft the healthcare operating rules for EFT and ERA transactions.  Over the next 6 months, a working group developed operating rules that addressed barriers to healthcare providers’ acceptance of EFT and ERA. In December 2011, the NCVHS recommended to the Secretary of HHS that the health care EFT standard for payments made via ACH be the NACHA CCD+ format and that the ERA content be as specified in the X12 835 TR3 Report.   Continue Reading +

Hyland Software Lands Nevada System of Higher Education

Overseeing eight public colleges and universities and enrolling more than 100,000 students per year, the Nevada System of Higher Education (NSHE) turned to OnBase Online to streamline processes across the state without the burden of maintaining additional infrastructure. OnBase Online, Hyland Software’s cloud-deployed enterprise content management (ECM) solution, provides the NSHE with a reliable and scalable solution capable of integrating with their existing systems.   Continue Reading +

Stormont-Vail Healthcare Selects Hyland Software’s OnBase Solution

Healthcare organizations rely on their electronic medical record (EMR) to store patients’ data and help physicians, nurses and medical staff to provide the best, most informed care. A huge problem comes when they realize the EMR system can’t hold unstructured content – like paper, faxes, images and videos.   Continue Reading +

Infosys BPO and OB10 announce strategic partnership

OB10, the e-Invoicing network, yesterday announced a strategic partnership with Infosys BPO, the business process outsourcing subsidiary of Infosys Limited. This partnering of two best-of-breed companies will offer enhanced capabilities to the Finance and Accounting (F&A) business process management and process automation spaces. The collaboration enables Infosys BPO to extend the next wave of business benefits to its global clients.   Continue Reading +

APO Report Blog Post

Improving Performance and Creating Added Value through AP Outsourcing As companies search for ways to improve overall performance and create added value, outsourcing non-core business processes such as low-value functions in the accounts payable (AP) process is a perfect place to start.   The market for AP outsourcing has witnessed many changes in recent years and what was once an emerging trend is now becoming a natural element of corporate services.  Organizations are now exploring AP outsourcing services that can turn a cost burden into a competitive advantage that provides significant potential to reduce costs, leverage capabilities and deliver sustainable business value.  While outsourcing the entire AP process may not be practical for most organizations, many companies are choosing to outsource certain functions while keeping full control of other more strategic AP functions in-house.  This modular approach to outsourcing is gaining momentum in the market and is helping more companies improve the overall performance of their AP department. Accounts payable outsourcing services are now recognized as an effective management tool that works to streamline and optimize AP operations and deliver operational and strategic benefits.  Companies are looking for ways to harness value beyond cost reduction through consolidation and automation, in addition to achieving the commercial benefits including accessing and building capability, scalability and flexibility that support the company’s core business strategy.  More and more companies now incorporate outsourcing as a strategy in business planning.   Continue Reading +

e2b teknologies Earns Epicor Sales Certified Silver Award for 2012

e2b enterprise (www.e2benterprise.com), a division of e2b teknologies, recently announced that they are a 2012 recipient of the sales certified silver award by Epicor Software. The award was presented to e2b teknologies at the Epicor Americas 2012 Premium Partner Awards Ceremony, during the recent Epicor Ignite sales conference in Las Vegas.   Continue Reading +

Houston Business Journal Names HighRadius One of Houston’s Fastest Growing Tech Companies

HighRadius, a leading provider of Receivables and Collections Management solutions, has been named to the Houston Business Journal’s FastTech 50 list for the fourth consecutive year. Year-over-year revenue growth of 58.75% secured the company’s #24 ranking.   Continue Reading +

ReadSoft Signs Agreement with European Steel Manufacturer

A leading global company specializing in the manufacture of steel has chosen ReadSoft's SAP®-certified invoice automation solution to process paper and electronic invoices in its United Kingdom accounts payable operation.   Continue Reading +

Hyland Software Hits Fastest Growing Companies List

Hyland Software this week announced it ranked number 495 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.   Continue Reading +

Basware Launches Procurement Module for InvoiceReady

Basware, the leading provider of e-invoicing and purchase-to-pay solutions, recently announced the availability of a procurement module for its InvoiceReady^TM solution, deepening the benefits of fully electronic invoice handling for small-to-medium-sized enterprises (SMEs).     SMEs have long recognized that automated invoice handling improves their ability to manage cash flow across their organizations, but have been held back by a lack of availability of solutions designed specifically for their staffing of resources, expertise and budgets.   Continue Reading +

Taulia Awarded Gold Partner Status with SAP

Taulia Inc., the only SAP®-certified SaaS platform for dynamic discounting recently announced it has been awarded the prestigious gold status through SAP’s PartnerEdge™ program. A longtime global partner with SAP, Taulia achieved gold distinction by continuously meeting SAP’s stringent requirements around product quality, industry expertise, sales proficiency and a high level of customer satisfaction.   Continue Reading +

Ariba Helps Redesign Grohe’s Procurement

For more than 75 years, Grohe has been giving bathrooms and kitchens around the world a new look through its innovative products. A reflection of its preference for innovative applications and services, Grohe is now applying the cloud-based solutions and business network of Ariba, an SAP Company, to transform its procure-to-pay function and fuel a best-in-class process through which it can drive savings, efficiencies and competitive advantage. “At Grohe, innovation and technology are part of our DNA and we rely on them not only to deliver quality products to our customers, but to drive unprecedented levels of performance and productivity across our operations,” said Dr.   Continue Reading +

SciQuest Introduces Enhanced Translation Services for Spend Analysis

SciQuest, Inc. (NASDAQ: SQI) a leading provider of cloud-based spend management solutions, recently announced enhanced translation services for its Spend Radar spend analysis solution. By automating the translation of large international data sets, SciQuest enables organizations to consolidate, cleanse and classify spend data from across the globe to perform accurate spend analysis that drives cost reductions.   Continue Reading +

Wright Express Changes Name to WEX Inc.

Wright Express Corp. announced Thursday that it would change its name to WEX Inc. The company, which has been processing fuel payments for fleet vehicles since its founding in 1983, said the new name reflects its transformation to a company focused on physical, digital and virtual corporate card   Continue Reading +

Basware Launches Mobile App for Purchase-to-Pay

Basware, a leading provider of e-invoicing and purchase-to-pay solutions, has today announced the availability of Basware Mobile 1.2, bringing the ability to process of purchase requisitions into its market-leading native apps for iOS- and Android-powered smartphones and tablets. As workers become increasingly mobile and accustomed to social collaboration, employees expect to be able to access and interact with core business processes and data on the move in order to maximize productivity.   Continue Reading +

Striving for Straight Through Processing

Organizations are increasingly seeking Straight Through Processing (STP) solutions, while leveraging their ERP systems so that AR and credit staffs can focus on strategically improving cash flow as well as other value-added tasks.  Demand is increasing for solutions that facilitate STP by delivering strong functionality around automated routines to manage exceptions and dispute resolution in a collaborative manner.  In addition, there is an increased focus on data extraction to drive automated, touchless processes. When imaging solutions first entered the receivables universe they were primarily focused on document capture.  Archiving paper files with electronic images generated benefits centered on retention and easy access.  As the use of imaging to support the order-to-cash process has matured, the distribution of e-documents has gained momentum.  Today, a highly integral aspect of receivables document management is the associated workflow, which allows users to route documents to specified recipients for action.   Continue Reading +

Idaho Central Credit Union Selects Hyland Software’s OnBase Solution

Idaho Central Credit Union (ICCU), an Idaho credit union with 1.2 billion in assets, was an early adopter of document imaging and management technology, initially purchasing the software to achieve paperless goals.   Continue Reading +

Fiserv Earns SWIFTReady Reconciliation Accreditation for the 13th Consecutive Year

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, recently announced that its Accurate™ Reconciliation solution for transaction matching, reconciliation and exception management has received the SWIFTReady Reconciliation Label for 2012. The renewed accreditation for Fiserv demonstrates that the Accurate Reconciliation solution meets stringent SWIFT criteria linked to the support of messaging standards, services and connectivity requirements, which are re-evaluated every year to ensure alignment with market changes. "Achieving the SWIFTReady accreditation means when our clients choose our solutions, they can have confidence that they have robust financial controls within their organizations to support company operations and improve the accuracy of reporting," said Eric Werab, portfolio director, Financial Control Solutions, Risk and Compliance, Fiserv.   Continue Reading +

Express Payments for Supply Chain Financing Launched by OB10

OB10, the e-Invoicing network has launched OB10 Express Payments, a unique supply chain finance service that allows organizations to receive payment on approved invoices within three days. The service supports the agreement announced this week between Prime Minister David Cameron and large UK organizations to consider or continue helping their suppliers’ cash flow through supply chain finance. Many companies, especially SMEs, are looking for faster payment of their invoices, especially as they face extended payment terms and restricted lending from banks.   Continue Reading +

J.P. Morgan Expands Global Reach

J.P. Morgan recently announced a series of new products, services and client mandates designed to capitalize on the firm’s global footprint, understanding of changing regulatory environments and innovative approach to issues affecting financial institutions.   Continue Reading +

Department of Veterans Affairs Mandate Electronic Invoicing

Dozens of countries around the world currently mandate electronic invoicing initiatives, in an effort to transition away from paper-based invoices to eInvoicing.  The benefits of eInvoicing mandates have been well established in Europe and American federal agencies are now slowly transitioning to the eInvoice format, which is expected to save taxpayers $7 million per year, cut invoicing costs by 50 percent and help vendors get paid faster. President Obama signed the Improper Payments Elimination Recovery Act of 2010 (IPERA) with the goal of reducing the federal government’s improper payments.  Research shows that electronic invoicing is the leading technological solution to prevent improper payments by eliminating error-prone manual processing. In an effort to comply with IPERA, The Department of Veterans Affairs is set to mandate eInvoicing to its contractors and suppliers.  The VA Financial Services Center (VAFSC) has mandated that vendors must submit invoices electronically.  VAFSC has expanded its electronic invoicing services through OB10 provided solutions.  OB10 electronic invoicing services, including mapping/transaction fees, are free to VAFSC vendors. As part of the latest communications informing VAFSC suppliers of the mandate, the VA offered a number of compelling benefits in return for making the transition.  According to Luke McKeever’s OB10 blog, benefits include:

• Delivery of invoices directly into its Financial Services Center’s payment system and routed nationally for approval
• Elimination of mail processing time, postage, and invoice receipt enquires
• Elimination of data error and lost or misplaced invoices
• Verification of invoice receipt and rejection through automated notification reports
• No installation of hardware or software required

VAFSC is also seeking to expand electronic payments through Automated Clearing House (ACH) and is touting significant advantages including:

• Reduced delivery time for payment funds, eliminating unpredictable postal system delays
• Automated payment generation through VAFSC accounting systems, reducing the likelihood of errors associated with paper based check systems

Pete Loughlin from Purchasing Insight "It's counter cultural to mandate anything like this in Europe and rushing into it would be a mistake.   Continue Reading +

Purchasing Card Transactions Increase as Companies Strive for Cost Savings and Efficiency in AP

New PayStream report titled The Value of Purchasing Cards reveals the power of P-Cards as a strategic form of payment. More and more companies are adopting or expanding their Purchasing Card (P-Card) programs in an effort to manage company expenses and maximize savings.  P-Cards are a   Continue Reading +

Grupo FSM Chooses Esker for Invoice Automation in a Microsoft Dynamics NAV Environment

Esker, a world leader in document process automation solutions, announced that its technology will be used by Grupo Félix Santiago Melián (FSM) for a centralized automated invoicing solution that will operate in a Microsoft Dynamics NAV environment and serve all group companies. Seeking a new solution Prior to Esker, FSM received all of its supplier invoices via paper, half of which were for transactions between companies in the group, with a total volume of 2,300 per month.   Continue Reading +

BofA Merrill Lynch Enhance Card Offering with Launch of PIN Check

Bank of America Merrill Lynch, a leading provider of transaction services, recently announced an enhancement to its Commercial Card offering with the launch of online PIN Check. Online PIN Check allows Chip and PIN cardholders the convenience of viewing their PIN in a secure environment.   Continue Reading +

Paymode-X® Expands Payment Capabilities and Surpasses 200,000 Vendors

Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, announced that its business-to-business settlement network, Paymode-X, has expanded payment capabilities to 23 currencies. The Paymode-X network first increased its global reach with the launch of a travel commission payment offering.   Continue Reading +

Hyland Software Makes Mobile Solutions Easier with Windows Azure

Hyland’s Mobile Broker for Windows Azure provides an additional implementation methodology for OnBase mobile users. Hyland Software released its latest deployment innovation, Mobile Broker for Microsoft Corp.’s Windows Azure, to help customers more easily implement mobile solutions.   Continue Reading +

TRADESHIFT Announces Partnership with PrimeRevenue SCF

TRADESHIFT, the platform for all your business interactions, has announced a strategic partnership with PrimeRevenue - the leading SaaS platform for global Supply Chain Finance (SCF). The partnership marks yet another step forward in TRADESHIFT’s mission to redefine the e-invoicing space by providing enterprises with the tool set they need to achieve full supplier adoption and 100% electronic invoicing. SCF and e-invoicing, although often existing in separate spheres, when combined form a powerful symbiotic relationship.   Continue Reading +

PNC Bank and Visa Team Up To Simplify Online Purchases

PNC Bank, N.A. and Visa Inc. (NYSE:V) today announced the availability of V.me by Visa to more than 1.2 million PNC Virtual Wallet^® customer accounts, with a commitment to make V.me available to more than 6.3 million accounts in 2013.   Continue Reading +

ReadSoft Automates Independent Energy Company

The North American-based organization has selected ReadSoft’s accounts payable automation solution to streamline its invoice process in Oracle E-Business Suite for greater processing control over growing invoice volumes.   Continue Reading +

Building a Case for Receivables Document Management (RDM) Automation

PayStream recently published a new report titled Receivables Document Management: Moving Toward a Paperless AR Organization that reveals a compelling case for RDM automation.  Credit departments are swimming in paper.  Computerizing receivables has resulted in not only more paper, but als   Continue Reading +

Understanding the Game of AP Automation

Simply put, automating an AP department is no easy task. It takes planning and vision, organizational alignment, buy-in from senior management and leadership, and a thorough understanding of the increasing number of technology options available in today's marketplace. Much like professional sports need coaches, automation projects often need consultants to draw up the game plan and evaluate the players.   Continue Reading +

Pushing Forward with Buyer Initiated Payments

Stand around the water cooler in any AP department long enough and you’re bound to hear the buzz surrounding Buyer Initiated Payments (BIP).  One of the hot topics in Electronic Supplier Payments right now is leveraging working capital management tools such as BIP and Dynamic Discount Management – both of which allow buyers to time payments and take advantage of early payment discounts. In the traditional card transaction, the seller/vendor/supplier end is the initiating event that starts the payment process.   Continue Reading +

Perceptive Software Launches Perceptive eAuthorize

Perceptive Software, creator of process and content management products and solutions, announces the launch of Perceptive eAuthorize. Powered by AssureSign, a leader in the electronic signature market, Perceptive eAuthorize allows any document to be electronically sent to any Perceptive Software user or third party in order to obtain a compliant electronic signature, followed by automatic uploading and storage of the signed document in Perceptive Software’s enterprise content management solution. Perceptive eAuthorize is a flexible and secure document distribution product that takes a true integrated approach to electronic signatures.   Continue Reading +

BancTec to Provide Electronic Patient Records to Aneurin Bevan Health Board

BancTec, a global leader in document management solutions and outsourcing services, along with its partner CCube Solutions, has been selected by the Aneurin Bevan Health Board (ABHB) to deliver an Electronic Document and Records Management System (EDRMS) and related services for the Health Board’s clinical users. “BancTec’s solution was cost-effective for the Health Board, providing both a return on investment and offering the most economically advantageous tender,” said James Silcock, Business Development Director of BancTec.   Continue Reading +

The Case for a Vendor Self Service Portal

By Jeff Chandler – Shared Service Expert for Prodagio Software, over 25 years AP experience working as the AP manager for Altria and Kraft Foods. As accounts payable professionals we know the many reasons that prompt our vendors to call or email our AP departments so persistently.   Continue Reading +

Basware Acquires Certipost

Basware, the global market leader in Purchase-to-Pay and e-Invoicing solutions, has today signed an agreement to acquire the network and e-Invoicing business of Certipost, a bpost company and the leading e-Invoice operator in the Benelux.   Continue Reading +

Wright Express Completes Acquisition of Fleet One

Wright Express Corporation (NYSE: WXS), a leading provider of value-based, business payment processing and information management solutions, announced today the completion of its acquisition of Fleet One after receiving the required regulatory approval from all government authorities.   Continue Reading +

PayStream Releases Data Capture for AP Report

All scanning and OCR solutions share the goal of eliminating the manual handling of paper.  Not every solution follows the same approach or provides equivalent functionality at each step in the process. Back-end document and data capture scan documents at the end of the receipt-to-pay   Continue Reading +

Bottomline Announces Implementation of Legal Spend Management Solution

Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, yesterday announced the successful implementation of Legal eXchange®, Bottomline’s legal invoice automation solution, as a tool to assist Nationwide Mutual Insurance Company (Nationwide) with their efforts to effectively and appropriately pay for necessary legal services. “We chose Bottomline as a partner for three simple reasons,” said Joseph Centanni, Vice President of Claims, Nationwide.   Continue Reading +

SciQuest Acquires Assets of Spend Radar

SciQuest, Inc., (NASDAQ: SQI) a leading provider of cloud-based spend management solutions, today announced that it has signed a definitive agreement to acquire Spend Radar LLC, a rapidly growing provider of fast, easy and flexible spend analysis software.   Continue Reading +

PayStream Releases Data Capture for Accounts Payable Report

Report reveals current demand and trends in OCR/Data Capture In a recent PayStream survey, more than half (52 percent) of AP professionals listed handling of paper invoices as their number one invoice management challenge, followed closely by manual data entry and inefficient processes.When completed, the 240,000 square-foot, two-building facility will more than double the size of the company’s current headquarters building. Since moving into its current headquarters in 2005, Perceptive Software’s local employee base has more than tripled.   Continue Reading +

PayStream Summit a Huge Success

The PayStream Summit 2012: Fast Track to P2P Automation, a boutique event for decision makers within AP, finance, procurement, payments and supply chain finance operations, has just wrapped up in Charlotte, NC.  Breakout tracks with topics in Purchase to Pay, Payments, and Healthcare Purc   Continue Reading +

Easily Calculate the ROI of Migrating Checks to Electronic Payments

Matthew Dragiff                                                                                                                             Vice President, Product Management                                                                               SunGard AvantGard Payment Services Check printing is expensive.   Continue Reading +

DataServ’s SaaS Purchase-to-Pay Solution Promotes ACH Capabilities of Western Union Business Solutions

DataServ, the global SaaS provider of document and process automation solutions, has developed a partnership with Western Union Business Solutions, a unit of The Western Union Company (NYSE:WU), that offers international clients a potentially easier, cost effective method for making payments to vendors.   Continue Reading +

Albemarle partners with Esker: Freedom from the fax

Albemarle Corporation, a leading global developer, manufacturer and marketer of specialty chemicals announced on July 16^th that it has selected Esker to automate its invoicing process with a unified platform via Esker's on Demand automation solution for Accounts Payable (AP) processes. Supported by an aging, four-line fax server and manually processing about 12,000 invoices per month in multiple languages (i.e., Chinese, Dutch, English, French, Hungarian, German, Japanese and Korean), Albemarle continuously faced visibility, productivity and other performance issues with its previous method of workflow. Due to an antiquated fax system, state-of-the-art functional capability was also a challenge for Albemarle and was a key requirement for any new solution in the future.   Continue Reading +

ReadSoft signs deal with a leading developer of aromatic products: Smells like automation

On July 10^th ReadSoft North America entered into an agreement with an industry leader in flavor and scent creations to streamline its accounts payable operations with ReadSoft’s SAP certified invoice automation solution.   Continue Reading +

Perceptive Software Approved For New Headquarters

It was reported yesterday that Perceptive Software, a creator of enterprise content management (ECM) and business process management (BPM) software products and solutions was approved for $26 million in tax-increment financing for their new headquarters relocation project.  The approved project calls for Perceptive Software, currently headquartered in western Shawnee, KS, to begin work on the first of two four-story, 120,000-square-foot buildings by Oct.   Continue Reading +

Cloud vs. On-Premise Solutions – Which Should You Choose?

New PayStream Tool Helps You Calculate Your Total Cost of Ownership In an effort to help companies determine whether a cloud solution or an on-premise/network solution is more cost effective for their needs, PayStream Advisors launched a Total Cost of Ownership (TCO) Calculation Tool. Organizations worldwide are actively investigating spend management solutions and exploring the positive impact these solutions can make on their bottom line.  PayStream’s research shows that the cost of a spend management solution can vary greatly based on whether the solution is Cloud based or On-Premise/Network.  PayStream is presenting this practical tool to help potential buyers of spend management solutions identify the necessary factors in determining the Total Cost of Ownership (TCO) for a solution.  PayStream examines both Cloud and On-premise/Network solutions and how these two different deployment methods affect the TCO.  As part of this research, PayStream has developed a simple to use model to map and compare the TCO for Cloud versus On-premise/Network solutions. PayStream’s research findings reveal that the benefits of spend management solutions extend well beyond the cost of acquiring the technology and encompass how the solution is architected, implemented and modified over time. In order to see the true cost and payoff of spend solutions buyers must carefully evaluate the immediate and long term costs of acquiring and maintaining the technology.  The purpose of this paper is to examine the cost of technology by taking an organized, step-by-step approach to evaluating the total cost of ownership and calculating all costs needed to compare Cloud versus On-Premise/Network solution options. Download your complimentary copy of the TCO white paper and calculation tool today.   Continue Reading +

PayStream Releases Electronic Supplier Payments Report

As predicted in the 2011 Electronic Supplier Payments report, demand for electronic supplier payment systems is at a record high.  Last year, 69 percent of the finance professionals PayStream surveyed said they were actively seeking to increase their company’s use of Automated Clearing House (ACH)   Continue Reading +

Should I buy or rent automation?

If you have been around for a little while, then you may remember the old conversation that everyone seemed to have an opinion on about 15 or 20 years ago. The conversation was around whether it was better to  buy or lease computer hardware.   Continue Reading +

Adding Value by Expanding the AP Influence Circle

Due to its transactional nature and subtle complexity—often overlooked by the uninitiated—Accounts Payable (AP) Managers spend a significant portion of their time focused on improving operational efficiency.   Continue Reading +

Taulia and Cloud Trade Join Forces: Because it’s convenience we all cherish

Taulia Inc., the only SAP certified SaaS platform for dynamic discounting, announced that it has entered into a strategic partnership with Cloud Trade, an e-invoicing company that specializes in removing paper from the financial supply chain with no software footprint or technical changes for either the sender or receiver. This new partnership will make it easier for larger organizations and smaller suppliers to adopt Taulia’s Dynamic Payment Platform by providing greater visibility and increased access to online invoice submissions. “This new partnership gives suppliers even greater options for invoice submissions, which makes it easier for suppliers to get paid quickly,” said Bertram Meyer, CEO of Taulia.   Continue Reading +

New PayStream Report Reveals AP Automation Solutions Deliver Big Bang for the Buck to SMEs

Report uncovers adoption statistics, current thinking, best practices, strategies and more. Until recently, AP automation initiatives were largely limited to Fortune 1000 companies, which had the human capital resources to implement and manage applications.  Today, PayStream is seeing this trend   Continue Reading +

OpenText Announces the OpenText Cloud

Company Significantly Improves Product Line with Merger with EasyLink Services International Corporation and Introduction of OpenText AGA for Microsoft Sharepoint 10.5 Open Text Corporation and EasyLink Services International Corporation today announced the completion of the merger of EasyLink with an indirect wholly-owned subsidiary of OpenText. The OpenText Cloud is immediately available worldwide and will service over 25,000 customers and 2 million end users for Infrastructure Services, Social Enterprise Services, Process and Data Services and SAAS-based Information Exchange; processing over 2 billion transactions a year.   Continue Reading +

MModal Agrees to Be Sold to JPMorgan Arm for $1.1 Billion

MModal Inc.  (MODL), a provider of medical document processing technology, reported yesterday that it agreed to be bought by a JPMorgan Chase & Co. (JPM) unit for about $1.1 billion. One Equity Partners, JPMorgan’s private investment arm, will pay $14 a share in cash for MModal, or 8.3 percent more than the stock’s July 2 closing price, the Franklin, Tennessee-based company said in a statement today.   Continue Reading +

Novosit Contracts Brainware in $7.5 Million Deal

Agreement expands Brainware’s Latin American Base, bolsters Novosit’s service capabilities. Brainware announced this week that Novosit, a business process outsourcing (BPO) and IT consulting firm based in the Dominican Republic, has contracted with Brainware to use and distribute the Brainware Distiller application for intelligent data capture in Latin America.   Continue Reading +

Emdeon Payment Network: A step in the right direction

It is a widely known fact that healthcare providers are behind most industries in the management and automation of back-end processes. They have the longest way to go in improving the effectiveness of their payment practices. Emdeon Payment Network which was launched on June 21^st provides a comprehensive suite of electronic and print payment infrastructure that supports both electronic and paper based payments management. By offering a variety of print and electronic payment channels including virtual card, Automated Clearing House (ACH) direct deposit and Image Cash Letter (ICL) payment capabilities, Emdeon Payment Network does not force the Healthcare Providers to accept electronic payments which greatly reduce the barrier to adoption.   Continue Reading +

Cloud Growth: At your Service

Information technology is turning into a global “cloud” accessible from anywhere and as it gets cloudier, the economics of the business is changing. The new model that is emerging provides a far more efficient way of running IT system by reducing the size or in some cases getting rid of data centers   Continue Reading +

Fueling up the P-card at American Red Cross

Talk about taking the bull by the horns. Just four years ago, American Red Cross had a relatively low spend volume of $17.5M on their P-card. Senior Director Michael Harris has overseen their payment strategy and fueled it up to $200M. This has also enabled them to tune-up their early pay discounts to $4M, up from just $700k previously.   Continue Reading +

PayStream Launches YouTube Video Highlighting Summit Conference

Buckle up and start your engines.  This year’s PayStream Summit is going to be a fast and furious event that you can’t afford to miss. Watch PayStream’s YouTube video for a sneak peak of what’s ahead at the PayStream Summit conference.   Don’t get left behind.  Fill your company’s tank with enough purchase-to-pay fuel that will keep your company’s AP department running at top speeds. Highlights at this year’s Summit include:

• 3 Tracks of Targeted Sessions - Purchase to Pay, Payments, and Healthcare P2P
• Leading Industry Case Studies (no sales pitches) - Get up to speed on the latest trends in Electronic Invoicing, eProcurement, Workflow, OCR, Dynamic Discount Management, P-cards, and ACH Payments from leading companies that have crossed the automation finish line.

Extra Pre-conference Sessions - Soak up all the knowledge you need to jumpstart your P2P automation projects by signing up for our in-depth pre-conference sessions. Networking and More Networking - Pick the brains of our faculty and leading service providers during our ample networking events to learn what it takes to get your automation project on the right track. Hear success stories from:

• American Red Cross
• Baylor Health Care Systems
• Coca-Cola Bottling Co.   Continue Reading +
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If you work yourself out of a job, I will promote you...

I love words and phrases and motivations. As a young man, (not that I am all that old) I used to listen to people like Stephen Covey, Zig Ziglar, Earl Nightingale... yep, I was one of those people. I would drive everyone crazy with all of my motivational sayings; "You need a check up from the neck up", "Your altitude is determined by your attitude", "In order to be terrific you must be specific", "If the vans a-rockin'...." Wait - that last one was a different phase....   Continue Reading +

Procure to Pay 2.0? Mayo Clinic's Truly Integrated Model

The Procure to Pay structure is becoming more and more embraced in the healthcare industry. Leading healthcare organizations such as Fairview Health Services, UPMC, and Mayo Clinic have all made strategic organizational decisions to merge the traditionally disparate functions of Purchasing and Payables. Mayo Clinic has taken the Procure to Pay model a step further by splitting their department into three distinct, yet synchronized groups of Business, Transactions, and Service.   Continue Reading +

PayStream Summit Agenda: Coca Cola Bottling and ROi (Mercy) Lead the Way

Each year, we strive to put together an agenda that truly reflects "what's now" in the world of accounts payable and financial automation. We want to know what the leaders are doing and hear from them directly to share those best business practices with others. This year, we've scheduled 18 breakout sessions - all case study presentations - over three "tracks" - Purchase to Pay, Payments, and Healthcare Purchase to Pay.   Continue Reading +

If AP Automation Was a Tattoo!

A friend of mine gave me this idea - and without thinking I am running with it... I hope you enjoy! In January of 2007, The Pew Research Center reported that 36% of 18-35 year olds have at least one tattoo.   Continue Reading +

Eli Lilly Has a Story to Tell at PayStream Summit in September

Dynamic discounting had everyone buzzing at PayStream Summit 2011 and it's easy to understand why. The huge savings opportunity for Accounts Payable (sometimes in the millions of dollars) is difficult to ignore.   Continue Reading +

Ariba Announces 2012 Excellence Awards

Company recognizes individuals charting new course for business commerce through innovation and collaboration at Ariba LIVE Business is by its nature a collaborative process. But with advances in technology, it has become increasingly social.   Continue Reading +

Trying New Things

The elementary school my daughter attends is a wonderful place full of excited, happy learners.  One reason for that is the staff spend a lot of time with the students, starting in Kindergarten and continuing through 5th grade, teaching and thinking about the school’s core values.  These   Continue Reading +

Dynamic Discount Management Report Released

Is Your Company Avoiding Late Payments and Missed Discounts? Dynamic Discount Management (DDM) is an emerging discipline that provides new flexibility on how and when corporate buyers pay their suppliers, typically offering mutual benefits for both parties.  PayStream’s new DDM report outlines those benefits and how to ensure your company is doing everything it can to avoid late payments and missed discounts. In the new report titled “Finding the “Treasure” in Treasury,” both buyer and supplier organizations can learn how to make vendor and technology decisions as they build out their working capital management capabilities for trade payables and receivables. This report provides a market overview of the rapidly evolving market for invoice discount management and early payment solutions.   Continue Reading +

Lexmark Acquires Brainware

Brainware joins Perceptive Software, a stand-alone business unit within Lexmark Brainware, Inc., a provider of intelligent data capture software, announced today that it has been acquired by Lexmark International, Inc.   Continue Reading +

SunGard Voted a Top Solutions Provider for Structured Products

The readers of Structured Products have ranked SunGard in first place for equities pricing and analytics, equities trading systems and limits in the Structured Products Technology Rankings 2012.   Continue Reading +

"Our Middle Name is Service... but Our First Name is Bad,"

"Our middle name is service... but our first name is bad," is the comment I heard at the Shared Services Conference in Dallas last year. Shared Services is a very interesting mix of consolidation, value,  cost reduction, help...   Continue Reading +

AP Automation Done Right

Every innovation takes time to mature, to reach that point when everyone looks at the end result and says "That's it".  From that point the innovation often continues but it's those salient mile markers that mark the arrival of a product category, industry or process.   Continue Reading +

Elite Reinforces Long-standing Partnership with Chrome River

Elite, a Thomson Reuters business, recently added Chrome River, a leading provider of expense reporting and invoice automation, as an Integration Partner, which formalizes their collaboration that began in 2008.   Continue Reading +

Problem Invoice: Return or Process?

I was recently ask by a client when they should send a problem invoice back to the supplier or continue to process the invoice? Variables to Consider There are several variables that should be considered when making the decision.   Continue Reading +