As December winds down, some enterprises are finalizing their finances and working through budgets for 2015, while others prepare to close down for the week and a half between Christmas Eve and New Year’s Day. That’s not the case with us, however. Here at Payables Place, we’re going to continue publishing thoughtful articles right up through the end of the year. To that exact point, the past two weeks on Payables Place has touched on virtual payment cards, electronic payments, the advantages of purchasing cards, and a brief introduction to the concept of marketing and print spend management–something that many organizations may not be thinking about, but they should. Take a look at what you may have missed in the roundup below.
Why Haven’t ePayments Completely Replaced Paper Checks?
Electronic payments offer many advantages over paying with paper checks; in point of fact, Ardent Partners research has found ePayments cost up to 75% less to process than a paper check does. Given these significant cost savings, it’s worth wondering why ePayments have only recently captured more than 50% of business-to-business payments. That’s what I look at in this December 1st article, examining the problem with ePayments and potential improvements. Read the full article at https://payablesplace.ardentpartners.com/2014/12/havent-epayments-completely-replaced-paper-checks/.
6 Steps to Effective Supplier Onboarding with Virtual Payment Cards
Effective supplier onboarding is one of the most significant issues when implementing any new technology, and virtual payment cards are no different. Suppliers that have historically only accepted paper checks need to invest in new technologies, while suppliers who accept some ePayments but not others will need to make similar investments. So how can enterprises move suppliers toward accepting virtual payment cards? My article from December 3rd is on this exact topic, so take a read at https://payablesplace.ardentpartners.com/2014/12/6-steps-effective-supplier-onboarding-virtual-payment-cards/.
What is a Purchasing Card?
No matter the size of the enterprise, the accounts payable team tends to be deluged with paper. Mostly in the form of invoices and/or paper checks sent to suppliers. Purchasing cards have the potential to cut down on significant volumes of paper, but enterprises need to understand the value proposition of the venerable p-card before implementing an effective program. Read my full look at what a purchasing card is at https://payablesplace.ardentpartners.com/2014/12/purchasing-card/.
Five Important Advantages of Purchasing Cards
Purchasing cards offer significant benefits to enterprises of all sizes, including but not limited to cutting down the number of invoices flowing through the accounts payable process and speeding up payment to certain classes of suppliers. I continued my look at purchasing cards on December 8th with a short article enumerating five key advantages that purchasing cards provide for organizations interested in implementing such a program. Read the full article at https://payablesplace.ardentpartners.com/2014/12/five-important-advantages-purchasing-cards/.
An Intro to Marketing and Print Spend Management
Ardent Partners’ research has shown that the average organization will spend anywhere from 6% to 10% of its annual budget on a spend category that is proving to be “more” complex than most complex categories: marketing materials, printed materials, and related services. And, to boot, this isn’t your father’s marketing spend management program anymore. That’s right … we have a whole, new, digital world to worry about now. Read Chris Dwyer’s look at the topic at https://payablesplace.ardentpartners.com/2014/12/intro-marketing-print-spend-management/.
Join the Ardent Partners LinkedIn Group today to keep up with all the discussions about commercial cards and other payables topics. Find us at http://linkd.in/1sUzIx8.
