The early-on impact of lockdowns and travel restrictions placed a heavy emphasis on getting payments out electronically, which then set off light bulbs on the receivables side as financial operations had to adjust and consider the longer term implications of manual process elimination.
BOSTON (PRWEB) April 19, 2021
Automating the systems and processes that encompass corporate accounts receivable has been climbing the priority list in the pandemic era as financial executives increasingly see how end-to-end digitalization can have a positive effect on the cash cycle. In a new research report, Businesses Need Receivables Automation to Keep Cash Flow Positive During the Pandemic Recovery, Mercator Advisory Group reviews the impact of the pandemic on corporate cash flow and the key pieces of integrated receivables that have been gaining intense focus for modernization projects. The growth in digital payments over the past several years has been steady, but since the early months of the pandemic, there has been a pivot towards longer term payments digitization across the spectrum of effort that encompasses the cash cycle and can provide better working capital effectiveness.
“The early-on impact of lockdowns and travel restrictions placed a heavy emphasis on getting payments out electronically, which then set off light bulbs on the receivables side as financial operations had to adjust and consider the longer term implications of manual process elimination,” commented Steve Murphy, Director of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service, and author of the report. “Reviewing payments as an end-to-end continuum provides benefits to buyers and suppliers, by leading to a convergence of the systems and processes that make up financial operations. Forward-thinking banks and their clients are now taking a closer look at supporting receivables modernization as part of overall digitization projects,” added Murphy.
Highlights of the report include:
- A detailed review of the ongoing challenges associated with late payments for companies across the globe.
- Analysis of the key steps and digital systems available in the spectrum of receivables management.
- Review of key latest trends around receivables technology innovations that banks and their corporate clients should be considering in order to remain competitive in this increasingly digital era.
The document is 15 pages long and contains 4 exhibits.
Companies and other organizations mentioned in this report include: Atradius, Basware, Billtrust, BlusSnap, CheckAlt, Citi, Corcentric, Coupa, Dade Systems, Deluxe, FTNI, High Radius, Ivalua, Jaggear, SAP, Tradeshift, Tungsten.
Members of Mercator Advisory Group's Commercial and Enterprise Payments Advisory Service and Global Payments Advisory Service have access to this report as well as upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
Please visit us online at http://www.mercatoradvisorygroup.com.
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About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.