vice president, product management, AvantGard Payment Services, SunGard’s corporate liquidity business
Contributor: Matthew Dragiff
In Part I of my virtual card blog series I described the nature of a virtual card program. In part II, I will describe how corporations can use virtual card programs to help generate revenue. More and more corporations are seeing the benefits of migrating paper checks to electronic and now specifically to virtual card programs.... read more
vice president, product management, AvantGard Payment Services, SunGard’s corporate liquidity business
Contributor: Matthew Dragiff
Corporations remain under continuous pressure to reduce costs and improve operational efficiencies. One of the easiest ways to do this is by migrating payments from check to electronic. However, I am seeing more and more corporations taking the migration to electronic payments a step further by implementing virtual card programs which can turn their A/P departments from cost centers to revenue centers.... read more
vice president, product management, AvantGard Payment Services, SunGard’s corporate liquidity business
Contributor: Matthew Dragiff
I attend many payments industry conferences and meet with many payments professionals, and I continually hear the same theme around vendor enrollment, also referred to as vendor enablement or vendor adoption. It is the single biggest hurdle for companies seeking to migrate from checks to electronic payments such as ACH or virtual card. Because most companies transact business with thousands of vendors, time and staff constraints often limit the rate at which vendors are invited to receive electronic payments. Historically, these initiatives were driven by a desire to reduce check payment costs. Increasingly, these initiatives are now driven by a desire to increase card spend in order to receive rebates generated by virtual card programs.... read more
vice president, product management, AvantGard Payment Services, SunGard’s corporate liquidity business
Contributor: Matthew Dragiff
The current economic climate is forcing companies to pursue lean operations as strongly as ever. It’s a message that we hear at SunGard, and that you may hear from your employer as well. Lean operations are driven by the understanding that only the most efficient organizations survive. The latest issue of Financial Operations Matters, published by the Institute of Financial Operations contained the article, “Are you ready for lean A/P? 4 Trends to watch in 2012.” As the article highlights, lean A/P is the outcome of analyzing existing business processes, uncovering inefficiencies, redefining processes and applying technology where appropriate to support automated processing. Best practices at companies with the lowest A/P costs typically include: a high degree of automation, end-to-end integration of A/P with purchasing, movement to electronic payments, embracing a self-service model for suppliers, and maximizing revenue from card rebate programs.... read more
vice president, product management, AvantGard Payment Services, SunGard’s corporate liquidity business
Contributor: Matthew Dragiff
The Remittance Coalition held its second workshop last week, just prior to the start of the Association of Financial Professionals (AFP) annual conference in Boston. The workshops are designed to better understand the barriers to the automated reconciliation of payment transactions with remittance data. The participants included representatives from financial institutions, software vendors, corporate treasury practitioners, payment services providers and standards developers as well as standards groups including X9, X12, Federal Reserve, SWIFT, OAGi, IFX, GS/1, NACHA and ISO. During this meeting it was emphasized that the Remittance Coalition is not a new standards body. The Coalition consists of parties (including existing standards groups) who are interested in understanding and addressing remittance problems. Key to this is ongoing input from corporate end users to understand their problems and develop effective solutions.... read more
Please fill out our contact form
SunGard is one of the world's leading software and technology services companies. Our four businesses serve approximately 25,000 customers in 70 countries.
© SunGard 2002–2011
older posts
