Streamline your firm’s accounts payable
Make the switch from checks
With remote work continuing relying on paper checks is more inconvenient than ever. Not to mention the time associated with issuing payments in this form can tie up cash flow. Pending checks can make up 25% of a business’s expenses, which means they must leave a large amount of cash in their accounts to cover the payments in progress. This doesn’t include the fees and manual work involved in sending, tracking and stopping checks. Either way, this is an effective way to reduce unnecessary costs and work for your accounting team.
Let vendors self-manage
How much time is spent answering queries about a payment’s status, changing bank details and similar tasks? Probably too much. Not only does this type of manual work become expensive but it is also open to human error. Automating this process can seem challenging at first but giving this option will keep these time-consuming tasks out of your firm’s scope in the future.
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