New Guide: Six Steps to Perfect Payments
Anna Barnett 19 Mar 2015Is your disbursement process configured for maximum success? Are you on the road to a perfect payments program?
In order to answer these questions, an organization needs to know what an imperfect payments program looks like. One of the biggest causes is heavy use of paper methods—PayStream Advisors’ research shows over half of payments are still made with checks. However, organizations are moving away from checks and towards more efficient payment types and strategies, such as commercial cards, virtual accounts payments, spend segmentation, and payment differentiation.
These methods all work towards bringing about a perfect payment—one that is made on time, uses the cheapest payment method possible, and achieves the highest possible discount.
Electronic payments and optimization strategies are not one size fits all. It takes a variety of payment types to optimize payment practices, each bringing different strengths to different segments of your AP file. PayStream has developed a perfect payment methodology to help AP departments get the most out of their payment procedures. This Payment Optimization Roadmap features a six-point plan to design and achieve perfect payments at your company. Download this guide today to begin the optimization process and get the most out of your payment procedures.
