vice president, product management, AvantGard Payment Services, SunGard’s corporate liquidity business
Contributor: Matthew Dragiff
At the recent NACHA Council on Electronic Billing and Payments meeting, Nancy Atkinson, Senior Analyst for the Aite Group, presented findings of a recently completed project that analyzed remittance practices, benchmarks and perspectives of US and International corporations. The report confirmed some commonly held views but also provided some surprising insights into practitioner’s preferences.... read more
Guest Blogger: Marcel Santiz, Manager - Treasury Services Operations, Masco Corporation
Contributor: Marcel Santiz
Part I: If you are reading this, you are, most likely, familiar with some of the reasons to “go green” and most of the reasons to migrate to electronic forms of payment. The fact that you’re still reading probably means that you haven’t gone green or electronic or that you’ve only been partially successful at one, or the other, or both. If you are a treasury or finance professional, you most likely already know that there are many good reasons to migrate to electronic payments. Despite this, many companies have not done so.... 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
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