Failed B2B payments can be disruptive in areas beyond cash flow. For instance, if your bank has to repeatedly put in extra work to process ACH payments, there’s a chance they could stop making the necessary changes to pay files and file a complaint with Nacha. Seven out of every 10 businesses and financial institutions […]
Seven months after its release, ChatGPT is being touted as a replacement for a range of occupations. Artificial Intelligence (AI) tools like ChatGPT (technically a Beta rollout) are being tested against humans in areas like accounting and early results are rolling in. The early verdict? Stick with human accountants for the time being! ChatGPT not […]
Can automated payment systems be guilty of discriminating against certain groups of people? The federal government says yes, they absolutely can – and the feds plan to fine and possibly prosecute companies that rely on automated systems to do business. The Federal Trade Commission (FTC) is planning a multi-agency enforcement push against “discrimination and bias […]
Those of us who can remember the Internet becoming a fixture in the workplace also remember a lot of so-called experts making dumb predictions. Such as “it’s just a fad” and “people will always want the printed page” to “the robots are going to take over!” Fast forward to today and the rise of Artificial […]
Although consumers have fully embraced digital payments – peer-to-peer mobile apps, electronic bill-pay services and getting paid via direct deposit, to name a few – many companies are slow to adopt modern electronic payment technologies. In fact, last year a third (33%) of all B2B payments were still being made via paper check, according to […]
The finance leaders of tomorrow are hot on the heels of today’s CFOs and senior managers! So what else is new? “Seasoned” professionals are always under pressure to stay current and justify their positions and salaries in an increasingly competitive business environment. But there’s one critical area in which finance staffers are outstripping veterans in […]
A cyber attack that puts customers’ personal and financial data at risk is bad enough to deal with. The last thing a company facing this situation wants to do is make a bad situation even worse. Like jumping the gun and putting out a news release that sugarcoats the actual damage done by a hack. […]
B2B credit departments are steadily embracing new technology and automation. But one area where companies are steadfastly sticking to the past is new credit applications. More than half of credit professionals report 25% or less of their credit applications are online, according to a poll conducted by the National Association of Credit Management (NACM). Just […]
If your finance team is pasting enterprise resource planning (ERP) data into Excel and then manually crunching figures for your firm’s financial reporting, it may be time to consider a software solution. If you haven’t recently audited how much time it takes your team to create a financial report, this may be the right moment […]
