Payment Software Research

As the B2B procure to pay (P2P) process becomes more refined, use of electronic payment methods is on the rise. The payment function often resides in the Accounts Payable (AP) department. But there are many payments that take place elsewhere in an organization for everyday office supplies, employee travel and other expenses. This makes corporate payment quite a large, complex system of transactions. Historically, this system has included:

• Purchase order, invoice and check processing
• Tracking and approving expense claims
• Managing a petty cash fund
• Cultivating early payment discount opportunities

                                                                                                                                              

B2B Payment Challenges and Opportunities

Our recent surveys of procurement professionals revealed several common roadblocks to payment efficiency. These include things like high processing costs, dependency on paper-based systems, and poor management of cash flow. Transactions follow a time-consuming paper trail, often causing missed vendor discounts and delayed delivery of critical goods and services.

As third party solutions have emerged to streamline payment processes in an increasingly global marketplace, executives are faced with more choices than ever before. At PayStream Advisors, analysts have conducted exhaustive research on various payment software solutions available.

We consider 4 core attributes when evaluating each electronic payment (ePayment) solution, including:

•  Invoice Workflow and Payables Integration
•  ACH & Commercial Card Functionality
•  Working Capital Optimization
•  Payments Processing

                                                                                                                                              

Payment Tools and Education

PayStream Advisors provides accounts finance and procurement professionals with objective, authoritative research to guide them in their search for payment automation solutions. The ultimate goal is give change agents the resources they need to transform processes at their organizations.

These include:

•  Research Reports
•  Educational Webcasts
•  Case Studies, Articles, & Infographs
•  ROI & TCO (Total Cost of Ownership) Calculators
•  In-Depth Video Reviews

Our research is available on demand for members and membership is completely free.