The movement to electronic payments has been steady over the years. Yet, COVID-19 may prove to be the catalyst that accelerates the shift to electronic payments. The need to carry out transaction at a distance while working remotely is leading businesses to rethink financial processes, and electronic payments are the answer. Take stock of electronic payment benefits and eliminate barriers that keep you locked in a manual world.

Most B2B payments are electronic, but checks persist 1

Electronic payments deliver substatial benefits3

The adoption of electronic payments streamlines financial processing. The best-in-class performers use electronic payments, automation, and data-rich transactions to transform financial operations and lower costs.

The keys to best-in-class performance 3

Longstanding barriers slow electronic payments adoption 1

The pandemic has altered the math, and there’s a renewed push to go electronic. That will bring energy to overcoming the stumbling block of IT resources and time to rebuild financial processes.

1 2019 AFP Electronic Payments Survey Report, 2019

2 The 2019 Federal Reserve Payments Study, 2019

3 The State of ePayables 2020, Arden Partners, June 2020

4 RPMG 2017 Purchasing Card Benchmark Survey

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