The Secret to a Successful Electronic Payment Program: Supplier Adoption
Nearly half of all businesses still continue to pay suppliers via check. That’s baffling when you consider that the average paper check transaction costs an AP department between $3-$6 (a cost that’s several times higher than other payment types) and that 75% of organizations report attempted or actual fraud via checks. Given the evidence that checks are not an optimal payment method, why do such old school methods persist?
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