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.
Why Should We Be Friends?
How AP and AR Team Up for Smarter Payments and Processes
With remote processes and rapidly evolving tech taking center stage in finance departments worldwide, it has never been more critical that your accounts payable and accounts receivable teams work together with their counterparts in other organizations to ensure smooth processes, better visibility, and enhanced security for both parties. How do you get there?
In this 1-hour roundtable webinar with Tilson Technology’s Cari Dowling-Ingraham and Bottomline’s Jill McFarland and Gunita Bindra, you’ll join us for a wide-ranging discussion as we take a look at why those relationships are so important and how to strengthen them. You’ll learn:
- Relationship trends for AP and AR teams and the implications for your entire organization
- How separation of duties and understanding roles can help combat fraud
- What the future looks like for AP and AR cooperation
- And more!
Sign up today to gain important insights for your organization!
What are accounts receivable teams saying about their 2021 needs?
In our last Pulse edition, we shared a link to a new accounts receivable survey so you could share your insights with us. We’re still hoping to receive more participation, but we wanted to share some initial results with you.
- 34% of payments received by respondents are still checks, making it clear there’s further room for optimization
- 76% do not have an automation solution for the receipt of cash, making reconciliation more difficult
- Addressing Days Sales Outstanding was the Top KPI-related priority for AR teams we surveyed
- Sending and tracking invoices was the top AR automation need for our customers
Click below to take the survey for yourself and add to our insights, and we’ll share more interesting tidbits in the months to come. If you have questions about how Paymode-X can help solve these challenges, don’t hesitate to reach out to us!
Accounts receivable teams are either drowning in data or thirsting for better data
In too many cases, accounts receivable (AR) teams are sending an invoice to a payer, waiting for payment with limited visibility on arrival date, and then either sifting through inconsistent information attached to that payment or dealing with having none of the data they actually need. At its heart, this is a complex problem that leaves AR team members with a lack of control and confidence in incoming payments, as well as inefficient and ineffective operational processes and significant team member burnout. These are big problems organizations are struggling right now to solve.
Bottomline's General Manager Receivables Product, Jill McFarland takes a closer look at these data challenges and the big picture ways in which AR teams and organizations can improve.
MEET YOUR PAYMODE-X TEAM
VP of Vendor Success
Kim Kelley is Paymode-X’s Vice President of Vendor Success, and as her title implies, she’s focused on making Paymode-X work for you.
Kelley brings extensive experience in technology to Paymode-X, and the team’s been working on a number of feature enhancements like scheduled reporting that should make life easier for AR teams. But there’s a larger movement toward a more digital, streamlined process flow for accounts receivable that she’s focused on, one
“While features and functions are important, in my career, I’ve learned that the companies who truly seek and listen to the customer’s voice and solve for the pain points with a whole product really win,” Kelley said.
Why did she want to join the team here? She found the idea of helping AR professionals manage the many inputs and limited remittance information many grapple with enticing,
“A key reason I joined Paymode-X is that we’re completely focused on solving the challenges that prevent automation of accounts payable and accounts receivable’s daily work,” she said, noting that the obstacles to doing so are varied and have a real impact on businesses.
Kelley said the Paymode-X team is receiving a lot of great feedback on ways to further improve visibility and streamlining of the order-to-cash cycle, but also encouraged vendors to reach out to her and the larger Vendor Success team directly to help shape the future of integrated receivables.
If you have feedback or questions, please contact to your Vendor Advocate directly.
Control your payments on the go
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