When PayStream posed the question, “where’s the craziest place you’ve found a missing invoice?” to leading Account Payable industry representatives, we found some of the answers quite shocking and comical. We’ve highlighted a couple of the top responses to our question.
32 million login credentials for users of the social media site recently leaked. Twitter maintains that it wasn't breached; one theory holds that they were compiled from separate breaches at other sites, where people reused passwords. As a precaution, however, the company is requiring "a number" of people to reset their passwords. Facebook and Netflix have similarly required login resets.
The top performers, the top quartile of the total data set, spend $0.71 or less per invoice. The weakest performers, those in the bottom quartile, spend $11.50 or more per invoice. The median figure, which is the middle point in the range of data captured, indicates $3.17.
The U.S. Department of Labor recently decided to more than double the minimum weekly salary threshold under which salaried workers are eligible for overtime pay when they work more than 40 hours in a week. The change will take effect on Dec. 1 of this year, so companies should start preparing now.
“If we didn’t have MineralTree Invoice-to-Pay, I don’t know how we’d survive and navigate the growth we expect as a company over the next 5 years.”
- Cathie Whalen, Chief Financial Officer, Positive Coaching Alliance
Accounts payable automation can provide an array of solutions to some of the most friction-rich business processes. From saving money by ditching paper to gaining a more sophisticated view of cash positions, AP solutions are adopted for different, often multiple reasons. A new report by iPayables has uncovered the most prominent frustration among AP professionals that could lead them to adopt automated technologies.
Accountants may assume that the technical expertise and knowledge of your partners and staff are what set the firm apart from competitors, but Charles H. Green, who literally wrote the book on being a trusted advisor, says that is not the case. “Expertise is the entry requirement, the jacks for openers, the table stakes,” he says. “But it’s not the expertise that determines whether you get the deal.”
Join Jimmy LeFever of PayStream Advisors and BC Krishna of MineralTree for a compelling discussion of the trends in automation that have led to this exciting environment in AP, as well as a case study of a real-world organization that has undergone true end-to-end transformation. Register now.
Today’s consumers rely on digital channels more than ever before to engage with businesses across industries, including banking and e-commerce. For financial institutions specifically, the digital-first world offers an opportunity deliver convenience and create a more compelling and personalized customer experience while decreasing operating costs. However, just as consumers are turning to online and mobile channels, so are fraudsters.
Compensation committees are responsible for setting the foundation of a bank’s compensation program, subsequently impacting the bank’s underlying culture. The banking industry is more competitive than ever, so attracting and retaining top talent should be the number one priority.