27 09, 2017

Why Financial Institutions Are Banking on Integrated Receivables

2018-04-09T15:44:01+00:00September 27th, 2017|Blog, Gain Insight Into AR, Make Customers Happy|

Are you behind on your Integrated Receivables Strategy? An integrated receivables hub is needed more than ever to future-proof business and banks are taking notice. But this wasn’t always the case. Three years ago, integrated receivables management was beginning to surface on the radar of banks, but most didn’t take action. According to Celent’s 2014 survey of US large banks, 92% rated integrated receivables (IR) management as most important to their future growth. But according to Treasury Strategies, only 1% fully implemented a solution. Why? Banks accepted the notion of integrated receivables but hesitated because of lack of control and high costs. To add to this, lockbox technology - a great revenue source - was greatly improving at the time. Optical character recognition technology (OCR) eliminated the need for banks to manually keystroke remittance information. This allowed them to seed more accurate data, reduce paper and process remittance information faster. Read More

15 08, 2017

FinTech for Commercial Real Estate? Here’s 12 Reasons Why.

2018-04-09T15:44:16+00:00August 15th, 2017|Blog, Collect Smarter, Gain Insight Into AR, Get Paid Faster|

According to KPMG, this year in Q1 2017 global investment in FinTech companies hit $3.2 billion across 260 deals… and this is just the beginning. The way the internet changed publishing and music, FinTech is now changing industries like commercial real-estate (CRE) by modernizing the old-school processes used by finance. It’s no secret that collecting receivables for CRE companies is a challenge and managing multiple tenants can be frustrating. Without an effective platform to communicate rent charges, CAM fees, and tax across multiple locations and divisions, cash flow can be stifled with no real insight. FinTech is the answer for today’s CFOs and Property Accountants who need innovative technology to meet the digital appetite of customers, improve their experience, streamline processes, and access real-time data to make real-time decisions. A financial technology gaining traction with CRE companies is tenant platforms powered by accounts receivable (A/R) automation. With the ability to Read More

31 07, 2017

Need a competitive advantage? Try a digital transformation

2018-04-09T15:45:12+00:00July 31st, 2017|Blog, Gain Insight Into AR, Save Time and Money|

Competition is the frenemy of every business - it’s a sign your offering is valuable to the market but it creates pressure to keep the customers you already have and find new ones quickly before the competition does. With digital on the rise, there is an opportunity for companies to get ahead-of-the-curve and champion digital transformation as a competitive advantage. How big is this opportunity? A Frost & Sullivan report projects that U.S. B2B e-commerce sales will reach $1.9 trillion by 2020, as global B2B online sales will reach $6.7 trillion. This is a lot of business to leave on the table for your competitors if you put off your company’s digital transformation. An undeniable way to make customers stickier is to allow them to conduct business with you, the way they want to. What does this mean in B2B? Adapting to their purchase behavior which is trending online and Read More

3 04, 2017

Technology Drives Financial Services Upheaval

2018-04-09T15:45:37+00:00April 3rd, 2017|Blog, Gain Insight Into AR|

A PwC report entitled Blurred Lines captures how the traditional financial services industry is grappling with the constant innovation of new market entrants and start-ups. These companies are now commonly referred to as “FinTechs”, and they are causing relentless change within the financial services industry, and within the finance department in businesses of all sizes. PwC estimates that within the next 3-5 years, cumulative investment in FinTech globally could well exceed $150bn. These new players seize the opportunities offered by ubiquitous internet and mobile. While the financial services industry has evolved along with digital technologies, “the constant penetration of technology-driven applications in nearly every segment of financial services is something new.” These innovators are attracting investor attention. Funding of FinTech startups more than doubled in 2015 reaching $12.2 billion, up from $5.6 billion in 2014. FinTech companies and new market activities are redrawing the competitive landscape, blurring the lines that Read More

8 03, 2017

4 Reasons Why Your ERP Alone is not Enough to Optimize your Invoice-to-Cash Cycle

2018-04-09T15:46:15+00:00March 8th, 2017|Blog, Gain Insight Into AR, Save Time and Money|

Your ERP is a jack of all trades, but is it enough to optimize your invoice-to-cash process? At first, you may think so. It would be the utopia as an ERP integrates and aligns all functional areas of your business (planning, purchasing, inventory, sales, marketing, finance and human resources). But as a jack of all trades that manages many moving parts of your business, does it mean it’s a master of none? Of course not, but traditionally ERPs are limited in managing your invoice-to-cash cycle. According to PayStream industry analysts, “ERP solutions are woefully inadequate in terms of receivables and collections management (RCM) functionality.” That’s a bold statement, but before you start getting down on your ERP, pause. It is one of the most important and vital business investments to set the foundation to optimize processes. What you have to keep in mind is just like any system that manages Read More

20 01, 2017

90% of CFOs have one top priority for 2017 – better reporting and insight.

2018-04-09T15:46:21+00:00January 20th, 2017|Blog, Gain Insight Into AR|

It’s almost 3 weeks into the new year - how are your 2017 business goals shaping out? A new year means a new opportunity to refocus your business objectives. Teams gather to review the previous year, set goals for the new one and create strategies on how to attain them. Tracking is an important part of all of this and you need the right information to make critical decisions to reach your goal. But, how can you navigate this path without shedding light on the road to your goal? Lack of insight is a challenge and a top priority for CFOs in 2017. According to a recent survey by Kaufman Hall consulting (featured here on CFO.com), “over 90% of CFOs say they need to do more with financial and operations data at hand to help top management to make critical decisions.” As indicated by Kaufman Hall’s survey, 2017 is a Read More

27 06, 2016

Metrics are a headache, but they don’t have to be.

2018-04-09T15:47:50+00:00June 27th, 2016|Apply Cash Easily, Blog, Gain Insight Into AR, Get Paid Faster|

Whenever quarter end rolls through, so does the dreaded metrics headache. Pulling data from multiple sources, managing various spreadsheets, correcting inaccurate data, and creating reports can be a nightmare, especially if you do not have all of your ducks in a row. The amount of time spent gathering  data makes teams reactive vs. proactive. Wouldn’t it be nice to use time spent on gathering data to analyze it and create actionable insight?   Read More

9 06, 2016

The “CFO” is Keeping your CFO up at Night

2018-04-09T15:49:20+00:00June 9th, 2016|Apply Cash Easily, Blog, Collect Smarter, Gain Insight Into AR|

We’re at mid-year mark for 2016. This is the time companies start reflecting on the last 6 months to see if the objectives they’ve set are on the right track. For the role of the CFO, this is very true as they are overseeing a sea change. With emerging digital technologies, CFOs are challenged to look past their traditional processes to increase productivity, efficiency and accuracy. What is the main objective they will be reflecting on? I like to call it the CFO – Cash Flow Objective (CFO) – this is what keeps your CFO up at night. According to a survey of 650 CFOs by Protiviti, CFO’s are seeking more precision and efficiency in cash forecasting, period-end close and reconciliation and consolidation activities. Protiviti highlights that, “cash forecasting represents one of the highest-ranked priorities, which may be indicative of the tepid economic recovery in many industries.” So, if cash flow and Read More