Appearances and Vendor Payments One of the most iconic scenes in a Hollywood heist movie comes near the end of Ocean’s Eleven. The “team” minus Danny Ocean lean against the balustrade in front of the Bellagio on the Las Vegas strip, quietly gazing at the fountains as Debussy’s beautiful Claire de Lune plays. Then one … Falling for the Illusion of Cybercriminals Will Cost You
ACH has steadily grown, while check payments are declining. Seventy-eight percent of organizations use ACH for some vendor payments. And while 82 percent of organizations still make some payments by check, according to a survey by the Association for Financial Professionals (AFP), the volume of checks by businesses has been steadily declining. According to the Federal … ACH Rising: What It Means for Vendor Information Management
Hackers continue a relentless barrage Last December, the U.S. government announced a major cyber breach by Russian hackers. Before we had understood fully the impact of that attack on 18,000 organizations and government agencies, we learned “holes” in Microsoft’s email software led to another compromise of 30,000 U.S. organizations. That attack was by Hafnium, a … Cyber Risk Statistics and the Need to Secure Sensitive Information
Vendor Fraud Risk Scientists have detected mutations of the Coronavirus in the U.K., South Africa, Nigeria and Brazil. These mutations can change how rapidly the disease spreads. So far, it does not appear to increase its virulence. For the finance personnel, there’s a parallel in the arena of financial fraud. In the realm of business … Mutations: BEC becomes VEC
How do you collect your vendors’ W-9 information? What about bank information for ACH payments? Here is an instruction that one organization includes on its ACH Enrollment Form on which the vendor is asked for their bank account information: “Please email the completed form along with a copy of a VOIDED CHECK to: … ” … Risky Business: Vendor Data via Email
You know what a vendor self-service portal is. But are you aware of all that a vendor portal can do? The forthcoming 2019 Financial Operations Networks survey on Accounts Payable Customer Service asked that question among many others. The result of that particular question revealed that while the most common functions of — and good … You Know What a Vendor Portal Can Do, Right?
Are you crafty? Handy? Do it yourself? Many of us like doing things by hand — some things, anyway. But let’s face it, there are other things we’d rather not have to do manually. How about in our P2P lives? More specifically, how are organizations accomplishing vendor onboarding these days? Have companies automated, or is … New Vendor Onboarding: Hands On or Hands Off?
A new survey conducted jointly by InvoiceInfo and IRSCompliance reveals what companies are doing in their vendor onboarding process and how they’re doing it. The good news is that a majority is doing at least some of the right things. Fewer, however, are doing those things right, or at least in the most efficient and … The “What” and “How” of Vendor Onboarding (And How You Can Improve It)
Introduction Is responding to supplier calls and emails taking up valuable staff time? Studies have shown that dealing with basic supplier inquiries, such as payment status and answering suppliers’ calls and emails can use up to as much as 24% of a staff member’s time. Answering and researching vendor calls and emails is often a … Vendor Self-Service Portals: A Win-Win for Both AP Departments and Vendors
Now, suppliers with questions about invoice receipt and payment status can find the answers they need on the Web — without the need to interrupt valuable AP staff time! A self-service application can also help streamline your supplier onboarding. Watch this webinar to learn how a vendor self-service portal lets you free up your staff for … Vendor Self-Service Portals: Keys to Reducing Cost, Streamlining Vendor Onboarding, Increasing Productivity and Great Customer Service