If you pay people in many countries, you have likely seen this happen. You ask for a payee’s bank details. They send incomplete information. Then you spend days chasing clarifications with many follow-ups.
The fastest way to process business checks is to capture the check image and remittance details when you receive the payment, deposit it electronically, and match it to the open invoice in the same workflow. Remote Deposit Capture (RDC) makes that possible without a trip to the bank or a stack of stubs waiting to be keyed.
For years, most finance teams have treated international payments as a two-way choice: mail a check, or send a wire. Physical checks are slow and manual.
Credit union payment modernization is increasingly about more than adding another digital feature. Members and businesses expect financial services to be accessible, efficient and capable of supporting increasingly complex payment needs. For credit unions, meeting those expectations requires deciding which capabilities to develop internally, which to integrate and where specialized technology partners can accelerate progress. Recent research suggests that those decisions may have implications ...
When Days Sales Outstanding (DSO) starts to climb, slow-paying customers may seem like the obvious cause. But for many finance teams, the issue isn’t when the payment is received. It’s how quickly that payment is matched and applied to the correct invoice. Disconnected remittance information and manual cash application can leave payments sitting unapplied, keeping invoices open longer and contributing to higher DSO.
Disconnected payment systems slow finance teams down because every additional system, bank portal, or manual handoff adds delay, increases the chance of error, and chips away at real-time visibility into cash position. Most finance teams lose track of payments because their systems were never designed to talk to each other in the first place. A wire moves through one process, an ACH through another, a check through a third, and each one lives in its own disconnected system. Nobody can see the ...
A payment visibility gap does not show up as a single dramatic failure. It shows up as a slow accumulation of small frictions in your payment operations: a cash flow forecast that is off, a delayed payment, a vendor phone call that starts with “just checking on that payment.” None of these feel urgent in isolation, but together they quietly erode a finance team’s ability to be proactive instead of reactive.
A cash flow forecast is only as good as the data behind it. If your forecast has ever been wrong because a payment you thought had cleared was still sitting somewhere in transit, you already know the real problem. It is not forecasting methodology but rather the quality of the payment data feeding into that methodology.
For many manufacturing finance teams, chasing payments has become part of the daily routine. Outstanding customer invoices, partial shipments, supplier inquiries, payment exceptions, and manual reconciliation consume valuable time that could be spent on forecasting, improving cash flow, or supporting business growth. The challenge isn't simply that payments take time. It's that manufacturing payment processes are often fragmented across multiple systems, suppliers, currencies, and financial ...
If your business buys from overseas suppliers, invoices customers in foreign currencies, or operates internationally, exchange rate movements can significantly affect profitability. One of the most common ways to reduce that uncertainty is with a foreign exchange (FX) forward contract.
Financial institutions are under increasing pressure to offer fast, transparent, and digital cross-border payment services. Customers expect international payments to be as simple as sending money domestically, while fintech providers continue raising the standard with intuitive user experiences, competitive pricing, and faster delivery times. The challenge is that building a global payment infrastructure from the ground up is expensive, complex, and often unrealistic for many banks, credit ...
A Treasurer's Guide to AR, AP, FX, and Reconciliation If your accounts receivable, accounts payable, treasury, foreign exchange, and reconciliation workflows operate independently, you're likely spending more time moving data than managing cash. The result is slower month-end close, reduced visibility into cash flow, unnecessary payment errors, and increased operational risk.
If your business regularly pays suppliers, contractors, or partners overseas, managing foreign exchange (FX) costs should be part of your financial strategy. Exchange rates fluctuate constantly, and even small movements can significantly impact margins, cash flow, and budgeting. The good news is that businesses can take practical steps to reduce these costs and minimize currency risk without making international payments more complicated.
International payments are more expensive than many finance teams realize. While bank wire fees and foreign exchange spreads receive the most attention, they often represent only a portion of the total cost. Manual processing, failed payments, delayed settlements, reconciliation challenges, and fragmented banking relationships can quietly consume significant time and budget.
As businesses grow, finance teams are often expected to support more customers, vendors, currencies, and transactions without additional resources. The good news is that scaling financial operations does not always require hiring more people. It requires improving processes, eliminating repetitive work, and giving finance teams better visibility into cash flow and payments.
Why should I pay in my vendors' local currency vs USD? When you wire USD to an overseas supplier, their bank performs the currency conversion at its own rate, with fees baked in on both sides that neither you nor your vendor agreed to and neither of you can see. The result is a transaction where both parties absorb costs that were never part of the original agreement. Paying in your vendor's local currency changes that dynamic entirely. You control the conversion, the rate is agreed upfront, ...
Failed vendor payments are rarely caused by the payment itself. In most cases, they result from incomplete, outdated, or incorrect banking information collected long before the payment is submitted. By validating vendor payment details before funds are released, finance teams can significantly reduce payment failures, avoid costly investigations, and improve supplier relationships.
Automated cash application is the process of using software to match incoming customer payments to the correct invoices and post them into your ERP or accounting system, with little or no manual review. Instead of an AR team checking bank deposits, remittance emails, checks, ACH files, and credit card transactions one by one, the matching happens automatically using payment and remittance data.
Fumbling with cash, waiting on paper checks, handling collections, and managing manual data entry and cash application processes doesn’t feel like chasing rainbows — there may be a pot of gold at the end, but your internal accounts receivable (AR) team shouldn't have to shuffle through manual processes to get to it.
International payments don’t have to be complicated. However, for many businesses and financial institutions, cross-border transactions are still slow, expensive, and frustrating. Outdated processes, high fees, limited transparency, and growing compliance requirements all add risk.
Vendor bank account numbers, routing details, and tax IDs should not be sitting in your ERP, your shared drive, or a spreadsheet on someone's desktop. That information should live in a system built specifically to store and protect it, separate from the rest of your financial operations.
Valentine’s Day is a time for love and appreciation. And, while you might not be exchanging chocolates and flowers this Valentine’s with your customers, you can still show them some love by gifting something even better—the payment options they want, all within a single payment system.
Finance teams are under pressure to move faster, reduce errors, and keep up with growing payment volume. Manual posting, disparate systems, and limited visibility make it harder to manage receivables efficiently and confidently.
In 2025 A/R Automation Proved Its Value For years, the finance world has talked about the digital transformation of accounts receivables (A/R). According to research from PYMNTS, nearly 70% of businesses accelerated payments with A/R automation tools during the year.¹ That shift was driven by necessity as much as innovation. Manual processes simply can’t keep up with economic and operational challenges. Despite automation’s rise, inefficiencies remain. Studies find that 39% of B2B invoices in ...
This Thanksgiving, gobble up the manual, error-prone legacy systems and give thanks for accounts receivable (AR) automation solutions.
Managing foreign exchange (FX) risk is essential for any business engaged in international trade. Currency values can shift dramatically between the time you agree to a transaction and when payment is made or received, often impacting profitability. Forward contracts provide a reliable way to safeguard your business from these fluctuations by locking in today’s exchange rate for a future date. This not only protects your margins but also ensures greater certainty in budgeting and cash flow ...
Returned payments aren’t just a nuisance. They’re a silent drain on time, money, and trust. Most failed international payments come down to one root cause: inaccurate or incomplete vendor data. By validating payee information before funds move, finance teams can cut return rates to near zero and reclaim hours each week lost to rework. Why Returned Payments Are More Than Just Annoying Every finance team has experienced it: a vendor payment bounces back, and suddenly the clock starts ticking. ...
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What would your accounts receivable (A/R) team do with 10 hours back every week? Or with past-due receivables cut by 75%? What about reducing paper checks by 97%—or keeping past-due balances at just 0.1% of total receivables?
In volatile currency markets, your foreign exchange (FX) strategy can mean the difference between protecting your margins and watching them disappear. Spot and forward contracts are two of the most effective tools for managing FX risk—but knowing when to use each can help you take control of your costs, protect your cash flow, and plan with confidence. The FX Challenge for Global Businesses If your business sends or receives payments in foreign currencies, you’ve likely felt the sting of market ...
If you’re still processing global payments manually, you know the pain: hours lost to data entry, constant reconciliations, late-night stress over errors, and endless vendor emails asking, “Where’s my money?” Manual payment processes aren’t just old-fashioned—they’re a daily grind that holds your team back.
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Businesses are constantly seeking out ways to improve cash flow, reduce days sales outstanding (DSO), and get paid faster.
A field representative collects a paper check payment from a customer—great news! Except now, the check rides shotgun in their truck for several days. Eventually, it’s dropped off at the home office, processed, and finally applied to the customer’s invoice(s) and your back-office system. Sound familiar?
Payment errors aren’t just annoying—they’re a real business risk. Every mistake in a cross-border payment can mean delayed deliveries, lost trust, extra bank fees, or even regulatory trouble. Mid-market and enterprise finance teams need more than a “good enough” approach to accuracy. You need a system that does the heavy lifting for you.
In today’s digital age where convenience shapes most aspects of daily life, modern banking customers now expect more than just the traditional payment methods and channels of the past. Customers desire speed, flexibility and autonomy—especially when it comes to managing their consumer loans. For banks and financial institutions, meeting these expectations is essential.
For finance and operations leaders, international vendor payments are often a source of friction. Manual processes, time zone differences, and regulatory complexity can quickly drain your team’s resources. The good news: streamlining your global payment process doesn’t require a big investment in headcount or IT. With a few targeted changes, your finance team can work smarter, reduce errors, and pay vendors on time—every time.
Market volatility isn’t just a headline—it’s a real risk for any business moving money across borders. When FX rates swing, interest rates spike, or trade policy shifts overnight, your international payment costs, timing, and compliance risks can all change in a matter of hours. In this guide, we’ll walk through what volatility means for payment operations, what questions finance leaders should be asking, and how to build resilience into your payment workflows—so you can focus on growth, not ...
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When it comes to your accounts receivable (A/R) operations, your business shouldn’t have to rely on luck.
The Evolving Landscape of Cross-Border Payments Cross-border payments are entering a new era. For businesses of every size, sending money internationally isn’t just about wiring funds—it’s about speed, accuracy, compliance, and keeping costs in check. In 2025, innovations like real-time rails, automatic payment processes, and AI are fundamentally reshaping how money moves across borders, creating both opportunities and new challenges.
New 2025 tariffs are shaking up global trade and, with it, the cost and complexity of international payments. Businesses can’t afford to wait and see. Here’s what’s changed, what it means for your bottom line, and what you can do right now to protect margins and keep payments flowing. What’s Changed With 2025 Tariffs? 2025 brought sweeping tariff updates across major trade corridors. Several governments have imposed or adjusted tariffs on goods and services, targeting key sectors like ...
What if, this year, your accounts receivable (A/R) organization could receive the ultimate gift—a gift that brings simplicity, efficiency and security to your A/R and payment processing operations?
“The customer is always right” — a timeless adage that we’ve all heard before. Even though it most often refers to the customer service industry, it also rings true for the B2B payments landscape. Customers’ payment preferences directly affect and influence the evolution and adoption of different payment methods and channels within companies' accounts receivable (AR) and back-office payment processing operations.
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