The Paymode-X Pulse helps you stay current on industry best practices and insights, as well as tips to maximize the benefits of your Paymode-X membership.
Understanding Your Accounts Receivable Needs
Last year, we reached out to members of the Paymode-X community to ask about AR challenges and priorities. Once again, we are asking for your support as your opinion matters in order for us to build and prioritize major enhancements to our solution—one that aims to address the most pressing problems your teams are grappling with today.
If you have not received the email to participate, you can access the brief survey below. The survey will take approximately 10-15 minutes to complete and we’ll share the results of the survey in our next Paymode-X Pulse issue as well as bring forth the intelligence you provide us to prioritize significant upgrades to Paymode-X in 2021 and beyond.
Protect your customers against the threat of business email compromise
Fraud is an issue that isn’t going away, and in fact the problem seems to be growing more acute with each passing month. That’s why it’s the focus of so much press in the world of AP and AR right now, especially when it comes to business email compromise.
BEC has been steadily on the rise since the FBI started tracking it in 2013, but attacks increased exponentially when many organizations moved to remote working models in early 2020. In fact, between just April and May of last year, BEC attacks increased by 200%, according to a Security Boulevard report.
With that in mind, how can you protect yourself and your customers against this particularly insidious form of fraud?
User Tips for Business Continuity
As part of Paymode-X’s ongoing efforts to increase your visibility and reporting capabilities into incoming payments, we’re rolling out a new scheduled reports feature for Premium members.
This is a premium feature which will enable you to schedule reports to come directly to your inbox, and allows you to choose payers, payment types, and your preferred file format.
Please contact our Vendor Advocate team at 1-866-252-7366 or firstname.lastname@example.org if you're interested in enabling this feature.
In addition to this feature, we will be offering major enhancements to Paymode-X designed to improve the lives of our customer accounts receivable departments. Stay tuned for further updates!
MEET YOUR PAYMODE-X TEAM
General Manager Receivables Product
Payments and financial technology are not new ground for Jill McFarland, who has spent over 20 years working in the space. After spending nearly 8 years driving accounts payable forward for Bottomline and Paymode-X, she’s returned to the company after a brief time away to tackle the most pressing challenges accounts receivable departments are facing.
“I missed the payments space,” McFarland said, “And with new initiatives underway to enhance AR, I had a compelling reason to come back and drive change and value for the vendors who make the Paymode-X network what it is.”
That experience has provided perspective on the landscape and the speed of evolution for financial technology, which has become a must as COVID-19 and innovation in the consumer space has created breakneck change for B2B payments. As you know if you’re reading this, that change is particularly acute for AR departments facing scattered information availability and data complexity for incoming payments. McFarland and her team are working to create a new suite of solutions that builds on the streamlined payments and enhanced remittance already available through Paymode-X, making it easier not only to quickly process digital payments but also to make better, more informed business decisions.
“Data is everything today, and we all know the way forward is really about reducing the complexity of processing and using it. How do you do that in an easy way and remain flexible with the business partners trying to pay you? That’s what we’re really here to help solve for,” McFarland said.
McFarland also urged Paymode-X vendors to take a few minutes to fill out a new survey she and her team are conducting to help prioritize AR enhancements and better
“Hearing from our customers is paramount to what we do. This is a journey we’re on, building something great for AR teams, and we hope to hear from you directly,” she said.
Control your payments on the go
To access the app, Upgrade your Membership to Premium and log in with your Paymode-X account credentials.