Is there a tug-of-war going on between your AR team and the ever-increasing number of AP platforms your customers are using? Do you feel like you’re getting perilously close to being pulled into the payments mud puddle? Before we examine all the challenges you’re facing — and before you get dirty — let’s look at the facts./
Accounts Payable portal usage is on the rise, and there’s no turning back. Nearly 3 out of 4 of you who participated in a 2020 study conducted by Nacha, the Credit Research Foundation and AP Now, see customer portal activity increasing over the next three years.
Other research agrees: a recent Gartner study states that, by 2025, over 50% of mid-market and large businesses will have deployed procure-to-pay suites. Plus, AP automation spending, according to a Forrester forecast, will be nearly twice that of AR in 2021. Advantage AP.
To pull even in this game of tug-of-war, you have some choices: add more “muscle” or add more “automation.” Let’s go over your options.