Power of Direct Insite
Direct Insite Blog
The federal government announced that it will move to adopt e-invoicing solutions, mandated by the Office of Management and Budget (OMB). Out of the nearly 19 million invoices the federal government receives annually, just over 7.5 million (about 40 percent) are electronically processed.
Meet the enhanced PAYBOX® CORE at the 2015 AFP Annual Conference in Denver. PAYBOX® CORE helps corporations lower their DSO and invoice processing costs, while improving straight-through AR posting rates. It’s the only electronic invoicing portal that keeps both the invoice and payment information together throughout the entire process, helping to secure your data and prevent potential breaches.
Companies making the push towards electronic payment capabilities are discovering the benefits of ACH processing. In addition to accepting online payments through credit card transactions, enterprises are taking advantage of the Automated Clearing House (ACH) Network, providing safer, simpler options to their customers.
Using ACH processing, customers can schedule and make payments through secure direct debit transfers. With ACH, your enterprise can achieve a simpler, more effective system of payment processing on accounts receivables.
At Direct Insite, we’re pleased to participate in the BAI Payments Connect 2015 Conference scheduled for March 2-4 in Phoenix, Arizona.
BAI Payments Connect brings together payment professionals and industry influencers to talk about the disruptive changes that are happening in the payments space and to provide participants with fresh, actionable insights they can use to bring meaningful improvements to their organizations.
A new report by leading banking research and advisory firm Celent confirms what Direct Insite is experiencing: rising bank demand for integrated receivables management solutions.
“The slow but steady growth in electronic business-to-business payments has brought burdensome reconciliation challenges for businesses. This has not gone unnoticed by banks,” says Bob Meara, a senior analyst with Celent’s Banking practice and coauthor of the report. “Large banks in particular show strong interest in delivering enhanced receivables management capability.”
To help organizations and banks understand the critical issues facing accounts receivable and accounts payable processes in modern enterprises, we partnered with Blue Hill Research to learn how corporate end users and banks view AR and AP processes.
As the end of 2014 looms near, we wanted to uncover the top issues and goals companies have in accounts receivable and accounts payable processes. We worked with Blue Hill Research to explore two distinct perspectives, including corporations and banks, when it comes to AR and AP processes. For corporations, we discovered the three most important priorities for receivables and payments processes, which include:
When we think about business banking relationships, some of the first things that come to mind are things like lockboxes, disbursement accounts, and positive pay arrangements. But what about things that help operationally with receivables and payments processes? Are they in the mix? That was one of the questions we wanted to explore in a collaborative survey pilot between Blue Hill Research and Direct Insite.
Despite the continuing push of companies to eliminate paper processes to reduce costs and support “green” initiatives, the adoption of electronic payments and remittances has been painfully slow.