How Are Leading Companies Using FinTech to Modernize AP?
Leaders from EverQuote, Mercator Advisory Group and Visa discuss what makes a modern finance organization ‘modern’. This discussion covers the impact of automation on the organization as a whole and the return on investment. Why is automation not widely adopted and what are the key contributors holding a company back? We also look at how companies are making B2B payments and how that could, and should, evolve from where we are today.
The panel addresses these questions in the discussion:
- How would you describe a modern finance organization? Are there certain attributes that you find synonymous for companies that are considered modern? Where does automation fit into this picture?
- Does there needs to be a high level of automation for a finance organization to be considered modern or does that depend on company size as well?
- What do you see is the impact of adopting automation with accounts payable? And do the benefits extend beyond the finance organization?
- how might a finance department think about prioritizing AP automation over other projects?
- Why are paper checks still so prevalent in B2B vendor payments?
- What needs to happen (from an industry perspective) to transition vendor payments from check to electronic payment types?
- Do you feel Accounts Payable automation will change how b2b payments are made will the adoption of automation technologies truly modernize accounts payable? What are your thoughts?
- Large companies are figuring out the benefits and cost savings of automating accounts payable smaller and midsize companies are following along. Are they doing enough?